NYSE to close Friday to honor Reagan...

[Endangered Specie]

http://money.cnn.com/2004/06/07/markets/nyse_reagan/index.htm

NEW YORK (CNN/Money) - The nation's two biggest stock markets will be closed Friday in memory of former President Ronald Reagan, who died Saturday after a struggle with Alzheimer's disease, exchange officials told CNNfn Monday.

The New York Stock Exchange and the Nasdaq market both will remain closed for the full day, the officials said.

The bond market is also expected to be closed.



Have they ever done this before? Wouldn't a way to 'honor' Reagans legacy would be to keep the stock market open 24 hours on Friday... this just doesn't make sense. :shrug:

[hatrack]

1. Jack Grubman will commit suttee in honor of the Beloved Leader

He'll hurl himself onto a pile of flaming junk bonds and fraudulent stock analyses.

[nonews]

2. NYSE SHUT DOWN

It will shut down from time to time for various reasons: JFK shooting (closed early); Reagan shooting (closed early); of course the 9/11 bombing; even if there is a fire or power outage.

[Endangered Specie]

4. Still, my point is, wouldnt you honor the uber capitalist...

by keeping it going, instead of shutting it down for a day?

[frankly_fedup2]

3. I'm surprised Hannity and Limbaugh are

not taking the day off. I'm surprised it's not going to be another Government holiday for banks and the post office.

Give it time and it will be.

[nonews]

5. Really!!!

Just another reason to have a holiday...But I do remember the day Reagan was shot, they did not postpone the NCAA finals that year---who won? Anyone?

[peterh]

6. your wait was short....

Federal Offices Closed on Friday; Flags at Half-Staff

http://hr.blr.com/Article.cfm/Nav/5.0.0.0.29929

[denverbill]

7. I've never heard of them doing anything like this.

You are absolutely correct about a better way to preserve his memory being to stay open for 24 hours. Better yet, replace the regular employees with children and pay them $.50 per hour.

[jdsmith]

9. They did it for Nixon

[denverbill]

10. They closed the stock exchange when he died?

That was only 10 years ago. I sure don't recall that.

[truebrit71]

11. Yes they did. I'm a broker. I got the day off. I went down the pub.

Prolly do the same THIS Friday....

[denverbill]

13. Well, I'll be darned.

I guess if they closed it for an President who resigned in disgrace, they can do it for Reagan.

Still seems strange though. I can understand closing when Kennedy was assassinated, or if a President dies in office. Seems odd to do it for a 93 year old who has been out of office for 16 years.

[NewYorkerfromMass]

8. Nice way to honor the working stiffs who depend on Wall Street income

You know, the shoe sine guys, the bagel cart guys, the cab drivers.
Way to hose them in good old "trickle down" style.

Bravo- Reagan would love you guys.

[struggle4progress]

12. Couldn't NYSE just have another big crash to honor him?

[NewYorkerfromMass]

14. LOL! And here's a classic from that day in 1987

At the press conference the afternoon of the big crash, Reagan said: "Everyone should be buying stock, not selling it... heck, if I weren't President I'd be buying stock too!" to which a reporter in the back of the room shouted: "So would we!"

[struggle4progress]

15. Love it! Voodoo economics at work!