Word: amex
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Dates: during 1970-1979
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...Amex chief speaks up for a neglected constituency...
...grow large enough to be listed on the Big Board, the New York Stock Exchange. Levitt, who now earns more than $200,000 a year, says he discovered that these companies had "little representation in government and very little control over their own destinies. I felt the Amex could become a spokesman for that neglected constituency...
...prods the heads of Amex-listed companies to lobby, too. When the Amex co-sponsored a management conference in Washington last month, the 150 chief executives who came were urged to invite a Congressman to dinner. The Amex also invites two dozen or so of its company presidents to attend briefings held for businessmen by members of the White House senior staff every six weeks...
Often Levitt visits Amex-listed companies and attends their annual meetings...
...Amex is currently handling options trading in the shares of 13 companies, among them Du Pont, Union Carbide and U.S. Steel; it plans to increase its list to 20 stocks before long. Early investor interest was high, and Amex officials hope to do at least as well with options as the Chicago Board Options Exchange. C.B.O.E. members now collect commissions on an average daily volume of 40,000 option sales. Partly as a result, the price of seats on the C.B.O.E. has jumped from $10,000 to $40,000 in just 21 months...