Word: fairness
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While critics of co-location cry foul, reps from the NYSE say co-location is common and fair and that all exchanges charge for similar services. The exchange doesn't consider it special access because any firm that wants to can pay the fee and co-locate. Furthermore, firms that co-locate aren't at much of an advantage if they don't know how to program their computers with the algorithms that will ultimately keep them ahead of the crowd. (See 10 ways your job will change in the coming decade...
...Fast doesn't help if your algo isn't being optimized," White says. "In fact, we've taken great pains in our new global data centers to make sure that we've preserved fair access to all members...
...mere corner of a city block can contain a Mexican vendor selling sweet flavored ice, a Middle Eastern cart full of fresh mangoes, a Dominican cafe cooking spicy sandwiches, and an old Jewish deli hawking hunks of pastrami (all cheap, for the visitor). Some blocks resemble a World's Fair of bargain grocery stores, places of worship, and trendy bars. Red brick housing projects hide not far away. Even while standing at the base of a solid and impressive historic landmark, the outsider cannot escape feeling the juxtapositions in his gut. Novelist Price enjoys visiting Schiller's in part...
Firestone downplays the differences between the 2005 and 2008 contracts and maintains that the earlier one was legitimate and fair. "It doesn't make sense to get too good a deal. You get too good a deal, somebody is going to come back and beat you up about it, so we always wanted to get a deal that Firestone could defend to anyone," argues Gerald Padmore, a Denver-based lawyer originally from Liberia who negotiated for Firestone in both deals. Padmore concedes that it would have been better to wait until a new government was elected before concluding...
...just as history comes to feel like a living entity and coherent narrative after one has experienced a few decades of it, so does the future. Having been an adult for 30 years now, I find I have a pretty fair ability to imagine how American life will and won't change during the next 30. Thus my new book, Reset: How This Crisis Can Restore Our Values and Renew America, in which I explain how the recent meltdown was both inevitable and a long time coming, and how it amounts to one of our rare but regular national opportunities...