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Tuesday, November 18, 2008
Va. Officials Call for Light Rail Safety Improvements
Associated Press
NORFOLK, Va.--Virginia transportation officials want about $7 million in safety improvements added to Norfolk's light rail.
The state Department of Rail and Public Transportation says the system now under construction is safe and meets federal standards. But a draft agency report recommends changes to improve how well the system will operate and respond to emergencies.
It has not been decided how the improvements would be funded, if agreed upon by Hampton Roads Transit and the city.
Norfolk is contractually obligated to cover cost overruns in the project.
Mayor Paul Fraim said he wants the state's recommendations to be included in the project but wants the state to share in the costs.
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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.
