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Wednesday, October 01, 2008
Business Groups, AARP Urge Lawmakers To Approve Rescue Plan
Robert Schroeder
MarketWatch Pulse
WASHINGTON -- Groups representing large and small businesses and retired persons urged the Senate and House on Wednesday to approve legislation to kick-start the flow of credit. Leaders of the Business Roundtable, the National Federation of Independent Business and the AARP said businesses and retirement savings are at risk without passage of the financial rescue package that's up for a vote in the Senate Wednesday night. "We need action now to protect jobs and homes and retirements," said Bill Novelli, the AARP's chief executive.
Copyright © 2008 MarketWatch, Inc.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
