Friday, February 6, 2009

Black mark!... New York Stock Exchange to tag MNI symbol to show it isn't in compliance with NYSE standards

OK, this is embarrassing -- the New York Stock Exchange will assign a ".BC" indicator by McClatchy's MNI symbol to show McClatchy is not in compliance.

This tidbit is from McClatchy's SEC filing today:
The Company's Class A Common Stock remains listed on the NYSE under the symbol "MNI," but will be assigned a ".BC" indicator by the NYSE so as to signify that the Company is not currently in compliance with the NYSE's continued quantitative listing standards. Although the Company intends to cure this deficiency and return to compliance with the NYSE continued listing requirements, there can be no assurance that it will be able to do so.
It doesn't say what "BC" stands for. Any ideas?

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7 comments:

McClatchy Watch said...

"Bankruptcy Coming"

Anonymous said...

BC” indicator to denote the company is 'below compliance'

Anonymous said...

The NYSE noted specifically that the Company was "below criteria"

Dave D. said...

..."B.C." indicator ? I wonder what that looks like. Is it a symbol ? If it is, it oughta look like a dingleberry.

Anonymous said...

.BC is noncompliant with NYSE Arca's
quantitative listing standards for Tier II issuers.

It shows on the consolidated tape with each quotation and trade report as MNI.BC. You still enter new orders as MNI but it prints out as MNI.BC until such time that they either come into compliance or in McClatchy's case, changes to MNI.Q which is in bankruptcy. (hehe)

Anonymous said...

Oops...or MNI.PK which is Pink Sheets. (very bad news)

Anonymous said...

MNI (SOL) is even worse