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Article: California Pension Funds Pressure New York Stock Exchange for Reforms.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 15, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Gilbert Chan, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Oct. 15--A powerful coalition of state treasurers and public pension fund leaders emerged Tuesday from its first meeting with interim New York Stock Exchange Chairman John Reed encouraged that sweeping changes are on the horizon at the embattled exchange.
But the public officials said Reed could face a tough task selling an overhaul plan to some NYSE members and vowed to use their financial clout to press for reforms.
"It is very clear that Mr. Reed gets the extent of (investor) frustration over what has happened at the New York Stock Exchange," California ...