Just wondering do you guys think Goldman sold out the NYSE to archa

Discussion in 'Metal Futures' started by mahram, Dec 7, 2005.

Goldman ripped off NYSE

  1. Yes

    8 vote(s)
  2. No

    10 vote(s)
  1. just wondering do you guys think goldman sold out the nyse for too little to archa. Ok its nyse buying archa, but it seems unfair since the share size of the nyse. It seemed seat holders got ripped off.
  2. ripped off?!!

    they got $4million for seats that before were worth less than 2million.
  3. Htrader

    Htrader Guest

    And thats why 95%+ of the seat holders voted for the deal?

    If anything, arca paid too high of a price for the nyse.

    The real people who got screwed are all the runners, brokers, and specialists on the floor who don't have seats and who will soon be out of work.
  4. Surdo


    Seats were below $1mm and 11 Wall St. was on the verge of becoming "The Buttonwood Museum" prior to this deal.

    They really had no choice to save the value of their seats.

    Will there still be a need for 2000 clerks now, in addition to 1366 members is the question?
  5. but what goldman was basically a rip off ipo. NYSE could off came public and made just as much for seat holders if they went public by themselves, and then bought arca.

  6. yeah but from my point of view it just seemed like goldman proposed a shady ipo. Where they gave away 40 some percent of the company just to get onto the market. My view is that goldman could have just went with an ipo of the exchange, and see how the market would have valued nyse. Since exchange stocks were rocking and rolling this year, Im sure the value of the nyse would have been near 3-4million per seat, without sacrifing so much of the company to archa

  7. BankBank


    what else are you sure about? :D
  8. goldman wasn't exactly dealing with the public here - they were dealing with the savviest people and firms on wall street. the members accepted the deal for a reason - because it was in their best interest.
  9. lol you mean the same wallstreet that couldnt figure out refco was a fraud, enron was a fraud, worldcom was a fraud, ...and it goes on. Or the same people was telling everybody delta, nwa, and delphi wouldnt go bankrupt.

  10. cstu


    It was in the best interest of the exchange members to take the money because Thain is trying to close the darn thing. Grasso would have gotton each member of the exchange more per seat. What did arca bring to the table other than a goldman connection?

    another win for the boyz at GS.
    #10     Dec 9, 2005