The near-farcical nature of the multiple stock exchanges in SL continues, with the delisting of a number of companies on the fledgling ISE (International Stock Exchange). A number of these delisted companies were refugees from the World Stock Exchange and they now state they’ll list elsewhere.
The obvious question is – why would anyone have confidence in any virtual world stock exchange or the companies listed on them, when it’s so easy to change exchanges at a whim. To be fair to the ISE, they have implemented “a policy of disclosing all CEO’s stock transactions in direct relation to their listed company”. If this is the reason that the companies have delisted, then the concern should be focused on the company side of the equation. It’s a fair expectation that shareholders know the shareholdings of a company’s CEO.
It’s been discussed in detail all over the SL blogosphere: the current situation is a murky mess full of contradictions and conflicts of interest and it’s fair to assume the churn isn’t going to improve until some fundamental transparency measures are implemented across the board.
On a related note I received the following IM overnight:
[23:41] MouzurX Wise: (Saved Mon Aug 20 01:13:14 2007) You have been ejected from ‘World Stock Exchange’ by MouzurX Wise.
His profile claims:
“I work at WSE Customer Service, am GMG PR/IR Manager and I run an investment company in SL, Wise Financial. Also, I am the CEO of Builders Paradise – Franchise.”
Aside from no explanation about my ejection, here’s one of many examples of the conflicts of interest that abound. Can you imagine someone in RL who owned a financial services company also working for the stock exchange?
Thanks for the clarification Luke.
Thanks for the clarification Luke.
Hello, the World Stock Exchange sent a notice to all members of the second life group informing them of the decision to close the group due to bugs in the group chat system and many users disabling the notice feature which removes the entire purpose of the group. We have also posted an announcement on the website informing them of the change. All future announcements will be posted on the website and sent to all members with an email address. We encourage members to add their email address using the update account details option on the website.
Hello, the World Stock Exchange sent a notice to all members of the second life group informing them of the decision to close the group due to bugs in the group chat system and many users disabling the notice feature which removes the entire purpose of the group. We have also posted an announcement on the website informing them of the change. All future announcements will be posted on the website and sent to all members with an email address. We encourage members to add their email address using the update account details option on the website.
Heh. Well, there was a Q&A that was held related to the halt of sale of the ISE which ended up being more about the transparency/privacy ‘balance’, as it were, as well as the manner in which the sale (mistakenly called an auction) was to be handled. Much of it was academic, as the sale is no longer happening.
As far as the WSE and the group member thing – yeah, Luke sent out that message from what I heard, and when I got IM’d about it I just rolled my eyes and moved on. There is a definite communication problem with most of these exchanges, some of it is technical but almost all of it can be attributed to a general lack of communications skill – which is not to say that they are better or worse than the average person on the internet.
I have done an about town summary for this financial week at http://slarmory.wordpress.com/2007/08/21/financ…
When it’s all rounded up together, it makes for interesting thoughts.
Heh. Well, there was a Q&A that was held related to the halt of sale of the ISE which ended up being more about the transparency/privacy ‘balance’, as it were, as well as the manner in which the sale (mistakenly called an auction) was to be handled. Much of it was academic, as the sale is no longer happening.
As far as the WSE and the group member thing – yeah, Luke sent out that message from what I heard, and when I got IM’d about it I just rolled my eyes and moved on. There is a definite communication problem with most of these exchanges, some of it is technical but almost all of it can be attributed to a general lack of communications skill – which is not to say that they are better or worse than the average person on the internet.
I have done an about town summary for this financial week at http://slarmory.wordpress.com/2007/08/21/financial-state-of-play/
When it’s all rounded up together, it makes for interesting thoughts.
A bunch of crap it is… if anyone can explain the scam… well go ahaid… a loss of 76% on HCL shares on my account how nice that is… i cant even sell the crap… one big dissapointment it is… have a nice day
A bunch of crap it is… if anyone can explain the scam… well go ahaid… a loss of 76% on HCL shares on my account how nice that is… i cant even sell the crap… one big dissapointment it is… have a nice day