Nasdaq dusts off broom for low performers; Local firms among those being warned.(Nasdaq Stock Market notifies companies of possible delisting)(Brief Article)

Crain's Detroit Business, July, 2002 by Merx, Katie

Spring cleaning at the Nasdaq Stock Market could kick five metro Detroit companies into what one local CEO called small-cap, bulletin-board hell. Nasdaq, which has stringent financial standards for initial and continued listing on its exchanges, let companies slide on meeting listing standards after Sept.

11 and into 2002, while terrorism anxiety and accounting fiascoes jostled stock prices about. But the stock exchange began sending 90-day notices in February that the free ride was over and that it would begin delisting companies whose share price dropped below its $1 minimum and stayed there. In May, the exchange began a major push to delist those companies whose stock prices remained below $1. Nasdaq also has begun notifying companies that they could...

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