Austin is the capital of the U. S. state of Texas and the seat of Travis County, with portions extending into Hays and Williamson counties. It is the 4th-most populous city in Texas, it is the fastest growing large city in the United States, the second most populous state capital after Phoenix and the southernmost state capital in the contiguous United States. As of the U. S. Census Bureau's July 1, 2017 estimate, Austin had a population of 950,715 up from 790,491 at the 2010 census; the city is the cultural and economic center of the Austin–Round Rock metropolitan statistical area, which had an estimated population of 2,115,827 as of July 1, 2017. Located in Central Texas within the greater Texas Hill Country, it is home to numerous lakes and waterways, including Lady Bird Lake and Lake Travis on the Colorado River, Barton Springs, McKinney Falls, Lake Walter E. Long. In the 1830s, pioneers began to settle the area in central Austin along the Colorado River. In 1839, the site was chosen to replace Houston as the capital of the Republic of Texas and was incorporated under the name "Waterloo."
Shortly afterward, the name was changed to Austin in honor of Stephen F. Austin, the "Father of Texas" and the republic's first secretary of state; the city grew throughout the 19th century and became a center for government and education with the construction of the Texas State Capitol and the University of Texas at Austin. After a severe lull in economic growth from the Great Depression, Austin resumed its steady development, by the 1990s it emerged as a center for technology and business. A number of Fortune 500 companies have headquarters or regional offices in Austin including, 3M, Amazon.com, Apple Inc. Cisco, eBay, General Motors, Google, IBM, Oracle Corporation, PayPal, Texas Instruments, Whole Foods Market. Dell's worldwide headquarters is located in Round Rock. Residents of Austin are known as Austinites, they include a diverse mix of government employees, college students, high-tech workers, blue-collar workers, a vibrant LGBT community. The city's official slogan promotes Austin as "The Live Music Capital of the World," a reference to the city's many musicians and live music venues, as well as the long-running PBS TV concert series Austin City Limits.
The city adopted "Silicon Hills" as a nickname in the 1990s due to a rapid influx of technology and development companies. In recent years, some Austinites have adopted the unofficial slogan "Keep Austin Weird," which refers to the desire to protect small and local businesses from being overrun by large corporations. In the late 19th century, Austin was known as the "City of the Violet Crown," because of the colorful glow of light across the hills just after sunset. Today, many Austin businesses use the term "Violet Crown" in their name. Austin is known as a "clean-air city" for its stringent no-smoking ordinances that apply to all public places and buildings, including restaurants and bars. U. S. News & World Report named Austin the #1 place to live in the U. S. for 2017 and 2018. In 2016, Forbes ranked Austin #1 on its "Cities of the Future" list in 2017 placed the city at that same position on its list for the "Next Biggest Boom Town in the U. S." In 2017, Forbes awarded the South River City neighborhood of Austin its #2 ranking for "Best Cities and Neighborhoods for Millennials."
WalletHub named Austin the #6 best place in the country to live for 2017. The FBI ranked Austin as the #2 safest major city in the U. S. for 2012. Austin, Travis County and Williamson County have been the site of human habitation since at least 9200 BC; the area's earliest known inhabitants lived during the late Pleistocene and are linked to the Clovis culture around 9200 BC, based on evidence found throughout the area and documented at the much-studied Gault Site, midway between Georgetown and Fort Hood. When settlers arrived from Europe, the Tonkawa tribe inhabited the area; the Comanches and Lipan Apaches were known to travel through the area. Spanish colonists, including the Espinosa-Olivares-Aguirre expedition, traveled through the area for centuries, though few permanent settlements were created for some time. In 1730, three missions from East Texas were combined and reestablished as one mission on the south side of the Colorado River, in what is now Zilker Park, in Austin; the mission was in this area for only about seven months, was moved to San Antonio de Béxar and split into three missions.
Early in the 19th century, Spanish forts were established in what are now San Marcos. Following Mexico's independence, new settlements were established in Central Texas, but growth in the region was stagnant because of conflicts with the regional Native Americans. In 1835 -- 1836, Texans won independence from Mexico. Texas thus became an independent country with its own president and monetary system. After Vice President Mirabeau B. Lamar visited the area during a buffalo-hunting expedition between 1837 and 1838, he proposed that the republic's capital in Houston, be relocated to the area situated on the north bank of the Colorado River. In 1839, the Texas Congress formed a commission to seek a site for a new capital to be named for Stephen F. Austin. Mirabeau B. Lamar, second president of the newly formed Republic of Texas, advised the commissioners to investigate the area named Waterloo, noting the area's hills and pleasant surroundings. Waterloo was selected, "Austin" was chosen as the town's new name.
The location was seen as a convenient crossroads for trade routes between Santa Fe and Galveston Bay, as well as routes between northern Mexico and the Red River. Edwin Wall
LinkedIn is a business and employment-oriented service that operates via websites and mobile apps. Founded on December 28, 2002, launched on May 5, 2003, it is used for professional networking, including employers posting jobs and job seekers posting their CVs; as of 2015, most of the company's revenue came from selling access to information about its members to recruiters and sales professionals. As of March 2019, LinkedIn had 610 million registered members in 200 countries. LinkedIn allows members to create profiles and "connections" to each other in an online social network which may represent real-world professional relationships. Members can invite anyone to become a connection. Since December 2016 it has been a wholly owned subsidiary of Microsoft. LinkedIn participated in the EU's International Safe Harbor Privacy Principles. LinkedIn is headquartered in Sunnyvale, with offices in Omaha, Los Angeles, New York, San Francisco, Washington, D. C. São Paulo, Dublin, Milan, Munich, Stockholm, Hong Kong, Japan, Canada and Dubai.
In January 2016, the company had around 9,200 employees. LinkedIn's CEO is Jeff Weiner a Yahoo! Inc. executive. Founder Reid Hoffman CEO of LinkedIn, is Chairman of the Board, it is funded by Sequoia Capital, Bain Capital Ventures, Bessemer Venture Partners and the European Founders Fund. LinkedIn reached profitability in March 2006. Through January 2011, the company had received a total of $103 million of investment; the site has an Alexa Internet ranking as the 28th most popular website. According to the New York Times, US high school students are now creating LinkedIn profiles to include with their college applications. Based in the United States, the site is, as of 2013, available in 24 languages, including Arabic, English, German, Portuguese, Dutch, Danish, Russian, Japanese, Polish, Indonesian and Tagalog. LinkedIn filed for an initial public offering in January 2011 and traded its first shares on May 19, 2011, under the NYSE symbol "LNKD"; the company was founded in December 2002 by Reid Hoffman and founding team members from PayPal and Socialnet.com.
In late 2003, Sequoia Capital led the Series A investment in the company. In August 2004, LinkedIn reached 1 million users. In March 2006, LinkedIn achieved its first month of profitability. In April 2007, LinkedIn reached 10 million users. In February 2008, LinkedIn launched a mobile version of the site. In June 2008, Sequoia Capital, Greylock Partners, other venture capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of $1 billion. In November 2009, LinkedIn opened its office in Mumbai and soon thereafter in Sydney, as it started its Asia-Pacific team expansion. In 2010, LinkedIn opened an International Headquarters in Dublin, received a $20 million investment from Tiger Global Management LLC at a valuation of $2 billion, announced its first acquisition and improved its 1% premium subscription ratio. In October of that year, Silicon Valley Insider ranked the company No. 10 on its Top 100 List of most valuable start ups. By December, the company was valued at $1.575 billion in private markets.
LinkedIn filed for an initial public offering in January 2011. The company traded its first shares on May 19, 2011, at $45 per share. Shares of LinkedIn rose as much as 171% on their first day of trade on the New York Stock Exchange and closed at $94.25, more than 109% above IPO price. Shortly after the IPO, the site's underlying infrastructure was revised to allow accelerated revision-release cycles. In 2011, LinkedIn earned $154.6 million in advertising revenue alone, surpassing Twitter, which earned $139.5 million. LinkedIn's fourth-quarter 2011 earnings soared because of the company's increase in success in the social media world. By this point, LinkedIn had about 2,100 full-time employees compared to the 500 that it had in 2010. In April 2014, LinkedIn announced that it had leased 222 Second Street, a 26-story building under construction in San Francisco's SoMa district, to accommodate up to 2,500 of its employees, with the lease covering 10 years; the goal was to join all San Francisco-based staff in one building, bringing sales and marketing employees together with the research and development team.
They started to move in in March 2016. In February 2016, following an earnings report, LinkedIn's shares dropped 43.6% within a single day, down to $108.38 per share. LinkedIn lost $10 billion of its market capitalization that day. On June 13, 2016, Microsoft announced that it would acquire LinkedIn for $196 a share, a total value of $26.2 billion and the largest acquisition made by Microsoft to date. The acquisition would be an debt-financed transaction. Microsoft would allow LinkedIn to "retain its distinct brand and independence", with Weiner to remain as CEO, who would report to Microsoft CEO Satya Nadella. Analysts believed Microsoft saw the opportunity to integrate LinkedIn with its Office product suite to help better integrate the professional network system with its products; the deal was completed on December 8, 2016. In late 2016, LinkedIn announced a planned increase of 200 new positions in its Dublin office, which would bring the total employee count to 1,200. In July 2012, LinkedIn acquired 15 key Digg patents for $4 million including a "click a button to vote up a story" patent.
The Hoover Company
Hoover is a vacuum cleaner company founded in Ohio in the US. It established a major base in the United Kingdom and in the 20th century it dominated the electric vacuum cleaner industry, to the point where the Hoover brand name became synonymous with vacuum cleaners and vacuuming in the United Kingdom and Ireland. Hoover was part of the Whirlpool Corporation but was sold in 2006 to Techtronic Industries for $107 million. Hoover Europe/UK split from Hoover US in 1993 and was acquired by Techtronic Industries, a company based in Hong Kong. In addition to producing floorcare products, Hoover was an iconic domestic appliance brand in Europe well known for its washing machines and tumble dryers in the UK and Ireland, had significant sales in many parts of Europe. Today, the Hoover Europe brand, as part of the portfolio of brands owned by Candy Group, remains a major player in the European white goods and floor care sectors in a number of countries; the first upright vacuum cleaner was invented in June 1908 by Canton, Ohio department store janitor and occasional inventor James Murray Spangler.
Spangler was an asthmatic, suspecting the carpet sweeper he was using at work was the cause of his ailment, he created a basic suction-sweeper by mounting an electric fan motor on a Bissell brand carpet sweeper adding a soap box and a broom handle. After refining the design and obtaining a patent for the Electric Suction Sweeper he set about producing it himself, assisted by his son, who helped him assemble the machines, his daughter, who assembled the dust bags. Production was slow, just two to three machines completed a week. Spangler gave one of his Electric Suction Sweepers to his cousin Susan Troxel Hoover, who used it at home. Impressed with the machine, she told her son about it. William Henry "Boss" Hoover and son Herbert William Hoover Sr. were leather goods manufacturers in North Canton, which at the time was called New Berlin. Hoover bought the patent from Spangler in 1908, founding the Electric Suction Sweeper Company with $36,000 capital, retaining Spangler as production supervisor with pay based on royalties in the new business.
Spangler continued to contribute to the company, patenting numerous further Suction Sweeper designs until his death in 1915, when the company name was changed to the Hoover Suction Sweeper Company, with Spangler's family continuing to receive royalties from his original patent until 1925. In the early 1930s the company retained the services of Henry Dreyfuss, an up-and-coming industrial designer, to give the Hoover line-up a much needed update. Prior to Dreyfuss's involvement with the company, the majority of the machines manufactured consisted of a black motor and an aluminum base; when Hoover introduced the'Hedlite' in 1932, it was rather unattractive. Dreyfuss integrated this into the housing of the cleaner, making the machine more aesthetically pleasing and echoing the trends of streamline design. Of Dreyfuss's designs before 1936, he was able to update the basic Hoover machine and keep the company's products relevant with the times. In 1935, he was commissioned to redesign the Hoover cleaner.
In 1936, for a fee of 25,000 USD, Dreyfuss sold Hoover the design which would become the Model 150 cleaner. For the first time since the introduction of the Hoover vacuum cleaner, the mechanical workings were concealed from sight by a Bakelite cover; this cover was a tear-drop styled shell. He revamped the base of the machine. Since the release of this design, all Hoover cleaners consisted of a fluid base and a hood to cover the electric motor; these designs suggested efficiency and speed. Dreyfuss brought style to an otherwise mundane household appliance, his final design for the Hoover Company was the 1957 Convertible. Faced with a total lack of interest by the public in his expensive and unfamiliar new gadget, Hoover placed an ad in The Saturday Evening Post offering customers ten days' free use of his vacuum cleaner to anyone who requested it. Using a network of local retailers to facilitate the offer, Hoover thus developed a national network of retailers for the vacuums. By the end of 1908, the company had sold 372 Model 0s.
By 1912, sales had been made to Norway, Russia, Belgium and Scotland. In 1919, Gerald Page-Wood – an art director of Erwin, Wasey & Company, Hoover's advertising agency – came up with a succinct slogan which summed up the Hoover's cleaning action:'It Beats...as it Sweeps...as it Cleans'. At this time, it referred to the action of the revolving brushes, which vibrated the carpet and helped loosen the trodden-in grit; this offered an advantage over competitors' machines, which used suction alone to remove dirt, therefore were not as efficient as the Hoover. Seven years the famous slogan would adapt to more significance. Hoover's business began to flourish, and, a year after Hoover acquired the patent from Spangler, he established a research and development department for his new business. By 1926, Hoover had developed the'beater bar' - a metal bar attached to the rotating brush roll, situated in the floor nozzle cavity of the upright vacuum cleaner. Introduced on Models 543 and 700, the beater bars alternated with the sweeping brushes to vibrate the carpet while sucking.
It provided a more distinct'tap' than the bristle tufts used on the former machines, led to a 101% increase in efficiency. This cleaning action was marketed by Hoover as "Positive Agitation".'It Beats...as it Sweeps...as it Cleans' rang more true now than ever. In 1929, Hoover in
Gary Hoover is an American businessperson who founded Bookstop, an American bookstore chain, The Reference Press, which became Hoover's business information company. He is the entrepreneur-in-residence at the University of Texas at Austin School of Information. Hoover was born in Lafayette, the third of the three children of grocer and Indiana Glass Company executive Wilbur C. and substitute school teacher Judith. He grew up in Anderson, Indiana, a General Motors factory town, graduating from Madison Heights High School in 1969; as a child, Hoover displayed an interest in business. He invented business games to play with friends. At the age of 12 in a quest to better understand General Motors he discovered and subscribed to Fortune Magazine. In 1969, Hoover entered the University of Chicago. There, he earned a bachelor’s degree in economics. Four of his teachers, including Milton Friedman won Nobel Prizes. After graduating from college, Hoover spent two years as a security analyst at Citibank, New York, covering the retailing industry, followed by two years as a buyer for Sanger-Harris, the Dallas division of Federated Department Stores.
In 1977 he joined the May Department Stores Company in St. Louis, where he spent five years in tasks ranging from financial analysis and planning to shopping center development and marketing. In 1982, Hoover moved to Austin, after selecting it as the first city to launch his idea, the book superstore. Over seven years he and his colleagues developed the first chain of book superstores. In 1989 Bookstop was the United States's fourth-largest bookstore chain, with a total of 22 stores in four U. S. states. Laura Elder of the Houston Business Journal wrote that the chain "pioneered the superstore concept". Hoover himself states that "While the execution of the idea was difficult and complex, the core idea was not. We took the retail business model of Toys R Us — giant single-category stores with large product selections and low prices — and applied it to books." Bookstop sold to Barnes & Noble for $41.5 million in 1989. In 1990, Patrick Spain, the same friends who helped start Bookstop started The Reference Press to publish Hoover's Handbook, an annual guide to big companies and other enterprises.
The Reference Press would become Hoover's under the leadership of Hoover's friend Patrick Spain. Hoover stepped down as Chief Executive Officer in December, 1992 to return to retailing, but remained on as Chairman of the Board of Directors. In 1999 Hoover's, Inc. began trading on the NASDAQ until it was purchased in 2003 by Dun & Bradstreet for $117 million. In 1994, using capital he had raised in a private placement and from small investors in Texas, Hoover opened two TravelFest stores in Austin and one in Houston; the superstore concept lost a major source of revenue when major airlines cut back the commissions they paid to travel agents. The stores were subsequently closed. In 2005 Hoover founded StoryStores; the first, RoadStoryUSA, was planned to be a museum and entertainment center dedicated to the American road and all things connected with it. During the 2008 recession the project was aborted. In 2012 he started Bigwig Games, to produce business and social science strategic simulation games for the iPad and other tablet devices.
Hoover is the CEO and chief game designer of Bigwig Games. In August, 2014 the company launched Restaurant Bigwig, for the iPad. From 1988 to 1993 Hoover served on the Board of Directors of Whole Foods Market. Hoover is a fellow of the IC2 Institute and serves on the University of Texas School of Information Advisory Council, the XADS Advisory Board, the advisory board of The Archbridge Institute. Hoover is a former member of the University of Chicago Alumni Board of Governors. Hoover lives in Texas with a library of over 57,000 books. In 2008, Hoover received a distinguished alumni award from the University of Chicago. In 2011, he was named one of the 30 most influential people in Austin, Texas by the Austin Business Journal. In 2013, he was inducted into the Anderson Indiana Schools Hall of Fame. In 2009, Hoover became the first entrepreneur-in-residence at the McCombs School of Business at the University of Texas at Austin. In 2012, he became the entrepreneur-in-residence at the University of Texas at Austin School of Information.
He teaches classes through his independent Hoover Academy, speaks worldwide. Hoover has mentored hundreds of young entrepreneurs. In 2001, the University of Chicago opened the Hoover House dormitory, named in honor of Hoover for the gifts of stock in his companies made to the University over the last 20 years. In 2001, Hoover's book Hoover’s Vision: Original Thinking for Business Success was published by Texere, New York. An updated version of the book re-titled. In 2016, Hoover published Gary Hoover's Retail Handbook 2016: Principles and Giants of Retailing - a book of the history of retail innovations, mindsets of merchants, business models of retailing. In July 2017, Hoover's book The Lifetime Learner's Guide to Reading and Learning was published by Assiduity Publishing House, Philadelphia. Hoover maintains a blog, a YouTube channel - hooverbits. Hoover's World - Personal website. Https://www.youtube.com/user/hooverbits/videos - Personal YouTube
Initial public offering
Initial public offering or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and also retail investors. Through this process, colloquially known as floating, or going public, a held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned. After the IPO, shares traded in the open market are known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms and as a proportion of the total share capital. Although IPO offers many benefits, there are significant costs involved, chiefly those associated with the process such as banking and legal fees, the ongoing requirement to disclose important and sometimes sensitive information. Details of the proposed offering are disclosed to potential purchasers in the form of a lengthy document known as a prospectus. Most companies undertake an IPO with the assistance of an investment banking firm acting in the capacity of an underwriter.
Underwriters provide several services, including help with assessing the value of shares and establishing a public market for shares. Alternative methods such as the Dutch auction have been explored and applied for several IPOs; the earliest form of a company which issued public shares was the case of the publicani during the Roman Republic. Like modern joint-stock companies, the publicani were legal bodies independent of their members whose ownership was divided into shares, or partes. There is evidence that these shares were sold to public investors and traded in a type of over-the-counter market in the Forum, near the Temple of Castor and Pollux; the shares quaestors. Mere evidence remains of the prices for which partes were sold, the nature of initial public offerings, or a description of stock market behavior. Publicani lost favor with the rise of the Empire. In the early modern period, the Dutch were financial innovators who helped lay the foundations of modern financial systems; the first modern IPO occurred in March 1602 when the Dutch East India Company offered shares of the company to the public in order to raise capital.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed."In the United States, the first IPO was the public offering of Bank of North America around 1783. When a company lists its securities on a public exchange, the money paid by the investing public for the newly-issued shares goes directly to the company as well as to any early private investors who opt to sell all or a portion of their holdings as part of the larger IPO.
An IPO, allows a company to tap into a wide pool of potential investors to provide itself with capital for future growth, repayment of debt, or working capital. A company selling common shares is never required to repay the capital to its public investors; those investors must endure the unpredictable nature of the open market to price and trade their shares. After the IPO, when shares are traded in the open market, money passes between public investors. For early private investors who choose to sell shares as part of the IPO process, the IPO represents an opportunity to monetize their investment. After the IPO, once shares are traded in the open market, investors holding large blocks of shares can either sell those shares piecemeal in the open market or sell a large block of shares directly to the public, at a fixed price, through a secondary market offering; this type of offering is not dilutive. Once a company is listed, it is able to issue additional common shares in a number of different ways, one of, the follow-on offering.
This method provides capital for various corporate purposes through the issuance of equity without incurring any debt. This ability to raise large amounts of capital from the marketplace is a key reason many companies seek to go public. An IPO accords several benefits to the private company: Enlarging and diversifying equity base Enabling cheaper access to capital Increasing exposure and public image Attracting and retaining better management and employees through liquid equity participation Facilitating acquisitions Creating multiple financing opportunities: equity, convertible debt, cheaper bank loans, etc. There are several disadvantages to completing an initial public offering: Significant legal, account
The Nasdaq Stock Market is an American stock exchange. It is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city; the exchange platform is owned by Nasdaq, Inc. which owns the Nasdaq Nordic and Nasdaq Baltic stock market network and several U. S. stock and options exchanges. "Nasdaq" was an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers, which divested itself of Nasdaq in a series of sales in 2000 and 2001; the Nasdaq Stock Market is owned and operated by Nasdaq, Inc. the stock of, listed on its own securities exchange on July 2, 2002, under the ticker symbol NDAQ. The Nasdaq Stock Market began trading on February 8, 1971, it was the world's first electronic stock market. At first, it was a "quotation system" and did not provide a way to perform electronic trades; the Nasdaq Stock Market helped lower the spread but was unpopular among brokerages which made much of their money on the spread.
The NASDAQ Stock Market assumed the majority of major trades, executed by the over-the-counter system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still referred to as "OTC" in media reports and in the monthly Stock Guides issued by Standard & Poor's Corporation. Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and volume reporting and automated trading systems, it was the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new growth companies, including Microsoft, Cisco and Dell, it helped modernize the IPO, its main index is the NASDAQ Composite, published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first intercontinental linkage of securities markets. The National Association of Securities Dealers spun off the Nasdaq Stock Market in 2000 to form a publicly traded company. On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3,227 by April 17, in the following 30 months fell 78% from its peak. In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2010, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission, must have at least three market makers and must meet minimum requirements for assets, public shares, shareholders. In February 2000, in the wake of an announced merger of NYSE Euronext with Deutsche Börse, speculation developed that NASDAQ OMX and Intercontinental Exchange could mount a counter-bid of their own for NYSE.
NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would have to be, if it proceeded, an $11–12 billion counterbid. In 2005, NASDAQ acquirred Instinet for $1.9 billion retaining the INET ECN and subsequently sellin the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System was founded as a European equivalent to the Nasdaq Stock Market, it became NASDAQ Europe. Operations were shut however, as a result of the burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, is operating under Börse Berlin. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on the eve of the United Nations Conference on Sustainable Development.
In November 2016, Nasdaq chief operating officer Adena Friedman was promoted to the role of CEO, becoming the first woman to run a major exchange in the U. S. In 2016, Nasdaq earned $272 million in listings-related revenues. In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price increases when selling market data. Nasdaq quotes are available at three levels: Level 1 shows the highest bid and lowest ask—inside quote. Level 2 shows all public quotes of market makers together with information of market dealers wishing to buy or sell stock and executed orders. Level 3 allows them to enter their quotes and execute orders; the Nasdaq Stock Market sessions eastern time are: 4:00 am to 9:30 am premarket session 9:30 am to 4:00 pm normal trading session 4:00 pm to 8:00 pm postmarket sessionThe Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: Capital Market is an equity market for companies that have relatively
Bookstop Inc. was a Texas-based chain of bookstores, at one time the fourth-largest bookselling chain in the United States. In 1989 Barnes & Noble acquired the company, at which point it became a subsidiary of Barnes & Noble; the chain did business under the name Bookstar due to trademark conflicts in other states. Laura J. Miller, author of Reluctant Capitalists: Bookselling and the Culture of Consumption, wrote that the chain "combined discounting with wide selection, careful attention to display, a reliance on sophisticated information systems in order to build a chain that would appeal to affluent, educated readers." Jason Epstein, author of Book Business: Publishing Past and Future, described the chain as being modeled on the supermarket concept. Miller stated that the store format was "consciously" modeled after the format of the Toys "R" Us stores. Laura Elder of the Houston Business Journal wrote that the chain "pioneered the superstore concept". Hoover himself states that "While the execution of the idea was difficult and complex, the core idea was not.
We took the retail business model of Toys R Us — giant single-category stores with large product selections and low prices — and applied it to books."Bookstop measured how well a title sold for 130 days after being placed on the shelves to decide whether to retain it in stores beyond that point. If the book was considered definitive in its field, it could remain without strong sales. Bookstop opened in 1982, established by Steve Mathews. Patrick Spain, who had attended university with Hoover, invested some of the original capital into the chain, its headquarters were in unincorporated Travis Texas, in Greater Austin. In 1989 the chain had a total of 22 stores in Texas, California and Louisiana, about $65 million in annual sales. In 1989 the board of Bookstop asked Hoover to step down from his position; that year, Hoover and a group of venture capitalists sold Bookstop to Barnes & Noble for $41.5 million. Barnes & Noble made the acquisition after a multi-month struggle with Crown Books, as both had purchased significant stakes in Bookstop with the aim of acquiring it.
After Barnes & Noble completed the purchase, Crown sold its share away. Solveig Robinson, author of The Book in Society: An Introduction to Print Culture, wrote that the purchase "gave the necessary know-how and infrastructure to create what, in 1992, became the definitive bookselling superstore." Miller wrote that Bookstop was "a key part of Barnes & Noble's early superstore efforts." After the acquisition, Bookstop-branded stores continued to exist, Barnes & Noble became Bookstop's parent company. Hoover's - Another company founded by Gary Hoover Notes Sources Bucholz, Barbara B. and Margaret Cran. "Bookstop, Austin, TX." In: Bucholz, Barbara B. Corporate Bloodlines: The Future of the Family Firm. Carol Publishing Group, 1989. ISBN 0818405074, 9780818405075. P. 145-159 - This book has a chapter on Bookstop Hoover's World - Website of founder Gary Hoover