This past Monday, stock photography behemoth Shutterstock filed documents with the SEC to have an IPO and list its shares on the New York Stock Exchange. The process requires Shutterstock to reveal its financial details, so the document provides an interesting look at how the company ticks and the state of the stock photography industry.
Kodak was warned by the New York Stock Exchange yesterday that its stock will be delisted if its price remains under $1 for the next six months. The stock has had an average closing price of below $1 for over 30 consecutive days now, and is no longer compliant with the NYSE’s requirement for minimum share price. Sadly, the company might not last another six months: the Wall Street Journal reported today that the company is now preparing to file for bankruptcy, which will likely happen in the coming weeks unless the company succeeds in its efforts to sell its 1,100 digital imaging patents. The revelation added insult to injury as the stock price plummeted another 28% today.
Image credit: NYSE by brian glanz
In November 2010, Talking Points Memo published an article that included a wire photo taken on the New York Stock Exchange trading floor. Yesterday they received a cease and desist letter from the NYSE claiming that photos of the trading floor cannot be displayed without the NYSE’s permission, and that it owns trademark rights to images of the floor:
NYSE has common law and Federal trademark rights in and to NYSE’s name and images of the Trading Floor [...] NYSE owns Federal tradmark rights in one depiction of the Trading Floor and common law rights in the Trading Floor viewed from virtually any angle [...] Accordingly, NYSE has the right to prevent unauthorized use of its Trademarks and reference to NYSE by others. [#]
You can read the two page C&D letter here. What are your thoughts on this?
(via Boing Boing)
Image credit: NYSE trading floor (tilt-shifted) by champura