Tuesday, June 12, 2012

Nasdaq CEO Lost Touch Amid Facebook Chaos

At the end of Facebook Inc.'s disastrous first day of trading May 18, the phone in Robert Greifeld's New York office rang.

It was Mary Schapiro, head of the Securities and Exchange Commission, wanting an explanation from the chief executive of Nasdaq OMX Group Inc. for the epidemic of glitches and delays in one of the most anticipated initial public offerings ever.

Mr. Greifeld couldn't talk. Having monitored the rocky process from Silicon Valley, where he had gone to join Facebook executives in remotely ringing the market's opening bell, he concluded the worst problems were fixed and caught a noon ...

At the end of Facebook Inc.'s disastrous first day of trading May 18, the phone in Robert Greifeld's New York office rang.

It was Mary Schapiro, head of the Securities and Exchange Commission, wanting an explanation from the chief executive of Nasdaq OMX Group Inc. for the epidemic of glitches and delays in one of the most anticipated initial public offerings ever.

Mr. Greifeld couldn't talk. Having monitored the rocky process from Silicon Valley, where he had gone to join Facebook executives in remotely ringing the market's opening bell, he concluded the worst problems were fixed and caught a noon ...

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