Why the clapping at NYSE when stocks plunge?

0

ANSWER:  It is simply a matter of tradition. Sun Spots went to Investopedia.com where investment-related questions are answered, including questions about the New York Stock Exchange. “A common sight today is the highly publicized events in which a celebrity or executive from a corporation stands behind the NYSE podium and pushes the button that signals the bells to ring. Many consider the act of ringing the bells to be quite an honor and a symbol of a lifetime of achievement.

“Furthermore, due to the amount of coverage that the opening/closing bells receive, many companies coordinate new product launches and other marketing-related events to start on the same day as when the company’s representatives ring the bell. This daily tradition wasn’t always this highly publicized either. In fact, it was only in 1995 that the NYSE began having special guests ring the bells on a regular basis.

“Prior to that, ringing the bells was usually the responsibility of the exchange’s floor managers.” At least one celebrity scheduled to ring the closing NYSE bell backed out of performing that ritual on a day when the market took a dive. You can see the calendar of upcoming opening and closing bell ringers/clappers at www.nyse.com/bell/calendar. More history about the ringing of the bell can be read at www.nyse.com/bell/history/.

DEAR SUN SPOTS: The Congregational Church of East Sumner is in need of community support. We will have our seventh annual Harvest Day and Barn Sale in the Church yard from 9 a.m. to 2 p.m. Saturday, Sept. 26, at 50 Main St., Route 219 in Sumner. If anyone is cleaning out their barn, attic or garage and is looking for a worthy organization to donate to, please consider us and contact Linda at 207-388-2263. Also, for the third year, we are collecting new or very good used blankets of any size and winter clothing for the children of the Pine Ridge Reservation in South Dakota. Items can be dropped off at the Church on Sundays from 8:30 to 11 a.m. or on Sept. 25 or 26. Thank you for your assistance.

Advertisement

DEAR READERS: Sun Spots has gathered more information in response to the query about a private hospital in Auburn where unwed teens gave birth and gave their babies up for adoption. From the Sun Journal archives dated back to as early as 1927, a place called “Auburn Private Hospital” on Western Prom in Auburn was mentioned in many articles in which births and surgeries were listed that were of local interest. It was not strictly a maternity hospital and not strictly for unwed teens.

DEAR SUN SPOTS: I would like to know of anyone who slaughters turkeys in the Lisbon area. Thank you. — Dennis S. via online submission form.

ANSWER: Sun Spots does not have that information so let’s hope a reader can share contact information for turkey butchers/processors in the Lisbon area.

Use the QR code to go to Sun Spots online for additional information and links. This column is for you, our readers. It is for your questions and comments. There are only two rules: You must write to the column and sign your name (we won’t use it if you ask us not to). Please include your phone number. Letters will not be returned or answered by mail, and telephone calls will not be accepted. Your letters will appear as quickly as space allows. Address them to Sun Spots, P.O. Box 4400, Lewiston, ME 04243-4400. Inquiries can be emailed to sunspots@sunjournal.com, tweeted @SJ_SunSpots or posted on the Sun Spots facebook page at facebook.com/SunJournalSunSpots. This column can also be read online at sunjournal.com/sunspots. We’ve joined Pinterest at http://pinterest.com/sj_sunspots.

Advertisement
SHARE