I re-read last qtrs. conf call transcripts earlier this morning, and Pera pretty much said (in my own words) - We don't really need a CFO, we just need our excellent engineers.
This alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day. It will enable long sellers to stand in the front of the line and sell their shares before any short sellers once the circuit breaker is triggered.
"The rule is designed to preserve investor confidence and promote market efficiency, recognizing short selling can potentially have both a beneficial and a harmful impact on the market," said SEC Chairman Mary L. Schapiro. "It is important for the Commission and the markets to have in place a measure that creates certainty about how trading restrictions will operate during periods of stress and volatility."
Short selling involves the selling of a security that an investor does not own or has borrowed. When shorting a stock, the investor expects that he or she can buy back the stock at a later date for a lower price than it was sold for. Rather than buying low and selling high, the investor is hoping to sell high and then buy low. Short selling can serve useful market purposes, including providing market liquidity and pricing efficiency. However, it also may be used improperly to drive down the price of a security or to accelerate a declining market in a security.
The alternative uptick rule (Rule 201) approved today imposes restrictions on short selling only when a stock has triggered a circuit breaker by experiencing a price decline of at least 10 percent in one day. At that point, short selling would be permitted if the price of the security is above the current national best bid.
If they bought back all the shares but the ones I have, I'd own the entire company.
I don't know enough about the company's inner-workings to make an informed call as to whether buybacks were the best way to spend their cash. I will assume senior management made the right decision in that regard. Expanding a business is not always the wisest use of cash.
actually, v, mc, and amex all have their own networks. and when one, say amex, receives a mc or v, amex hands-it-over to the correct network/processor. I worked on visa's network and systems for 24.75 yrs....
we now have 144....technical aren't a science. if they worked, then everyone would use them, and we'd all be rich?!??!
the data also is received by the credit card processor (V, MA, Disc, Amex). this gets a bit complicated cause it is not unusual for a, say, V transaction to originate on MA's network (the merchant transaction acquirer might be connected to MA, but the merchant also takes V cards), in which case both V and MA would also get "to make use of" that data.
and apple pay will get a small cut of what the issuing bank used to get .12 of a percent, if I recall correctly. but (the card) issuing bank gets over 2% of each credit transaction.
Visa, MA,and Discover get a per-transaction fee (as well as very small revenue based on the amount of what was purchased). The card issuing bank gets all interest made (if any) as well as a much larger 'percentage of purchase made' fee (credit card fees are significantly higher than debit. per the Dodd Frank Act.). AMEX cards are issued by AMEX though. Oh, and the issuing bank, or AMEX, eats any not-paid credit card 'payments'. Unpaid bills do not affect V, MA, or Discover whatsoever.
Um, uh, Apple Pay and Google Pay use V, MA, AXP, and Discover. EVERY transaction uses one of those cards. (25 year Visa ex-employee)
um,uh, do you realize that paypal, google wallet, and apple pay all USE Visa!?!?! more than 60% of all paypal transactions (in 2014) were put on a V or MA?
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