Reverse Spin - Take a seat: The price has dropped.(Briefs)

Investment News, October, 2003

Byline: Frederick P. Gabriel Jr. Here is a seat for the gilded tushy: The New York Stock Exchange on Tuesday reported that two regular exchange seats had been sold for $1.35 million each, down $500,000 from the last time a seat was sold, which was Sept. 18. The latest sale price, which almost certainly reflects negativity due to recent revelations of corporate-governance problems with the Big Board, is 48% less than the peak in 1999, when a seat, a membership that provides access to the trading floor, sold for $2.6 million.

And you thought seats for "Hairspray'' were pricey. They're outta here * Putnam Investments LLC of Boston must be getting used to hot water by now. Four unnamed portfolio managers at the nation's No. 5 fund...

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