January 14, 1986
Trading at the new facility in the Beaudry Center II building in Los Angeles began with Mayor Tom Bradley ringing the 6:30 a.m. opening bell. The day closed with a volume of 5.34 million shares, which is close to the exchange's 1985 daily average of about 5.7 million shares. The exchange hopes that the new location will lead to higher trading volume than was handled at the exchange's old location at 618 S. Spring St.
September 20, 1993 |
Thomas P. Phelan, a onetime statistical clerk who melded the Los Angeles and San Francisco markets into a single Pacific Coast Stock Exchange and then became its first president, died Thursday. Claude Wundrow, his son-in-law, said Phelan was 87 when he died in San Rafael. He had moved to Northern California from Orange County last year because of ill health and to be near his children and grandchildren.
December 19, 1986 |
Maurice Mann, vice chairman of Merrill Lynch's investment banking unit and a former thrift industry regulator, on Thursday was named chairman and chief executive of the Pacific Stock Exchange. Mann, 57, will assume his new post at an as-yet undetermined date in late January. The appointment of Mann ends a nearly yearlong search for a replacement for Charles E. Rickershauser Jr.
December 3, 1988 |
The Pacific Stock Exchange building, a 74-year-old art deco landmark in the heart of San Francisco's financial district, has been sold for $2 million to an investment group. The Empire Group, a San Francisco-based real estate firm, and two local investors, John Wright and William Dixon, said they had bought the building from the San Francisco Stock & Bond Exchange. The historic 20,000-square-foot building houses the Pacific Stock Exchange, the largest regional stock exchange west of Chicago.
July 7, 1995
Robert M. Greber, 57, has been elected chairman and chief executive of the Pacific Stock Exchange and will succeed current Chief Executive Leopold Korins on Jan. 25. Greber has been president and chief operating officer of the exchange since 1992; he joined it in 1990 as executive vice president of marketing and strategic planning. "Bob isn't simply the logical candidate for this job, he's the best candidate," Korins said Wednesday as the board of governors announced Greber's election.
December 11, 1990 |
The Pacific Stock Exchange said Monday that it will lay off 31 people and significantly cut other operating expenses in an effort to stem losses caused by a steep decline in trading volume. The San Francisco-based exchange said its options volume is 24% below 1989 levels and equities trading volume has fallen 8% this year. Moreover, the value of stocks traded, which is the basis for the exchange's transaction revenue, is down 15%.