The New York Stock Exchange is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is the largest stock exchange in the world by market capitalization.
In finance,being short in an asset means investing in such a way that the investor will profit if the market value of the asset falls. This is the opposite of the more common long position,where the investor will profit if the market value of the asset rises. An investor that sells an asset short is,as to that asset,a short seller.
Pump and dump (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements (pump),in order to sell the cheaply purchased stock at a higher price (dump). Once the operators of the scheme "dump" (sell) their overvalued shares,the price falls and investors lose their money. This is most common with small-cap cryptocurrencies and very small corporations/companies,i.e. "microcaps".
CSX Transportation,known colloquially as simply CSX,is a Class I freight railroad company operating in the Eastern United States and the Canadian provinces of Ontario and Quebec. Operating about 21,000 route miles (34,000 km) of track,it is the leading subsidiary of CSX Corporation,a Fortune 500 company headquartered in Jacksonville,Florida.
Richard Mauze Burr is an American businessman and politician who served as a United States senator from North Carolina from 2005 to 2023. A member of the Republican Party,Burr was previously a member of the United States House of Representatives.
Penny stocks are common shares of small public companies that trade for less than one dollar per share. The U.S. Securities and Exchange Commission (SEC) uses the term "Penny stock" to refer to a security,a financial instrument which represents a given financial value,issued by small public companies that trade at less than $5 per share. Penny stocks are priced over-the-counter,rather than on the trading floor. The term "penny stock" refers to shares that,prior to the SEC's classification,traded for "pennies on the dollar". In 1934,when the United States government passed the Securities Exchange Act to regulate any and all transactions of securities between parties which are "not the original issuer",the SEC at the time disclosed that equity securities which trade for less than $5 per share could not be listed on any national stock exchange or index.
The Surface Transportation Board (STB) of the United States is an independent federal agency that serves as an adjudicatory board. The board was created in 1996 following the abolition of the Interstate Commerce Commission (ICC) and absorbed regulatory powers relevant to the railroad industry previously under the ICC's purview.
Pan Am Railways,Inc. (PAR) is a subsidiary of CSX Corporation that operates Class II regional railroads covering northern New England from Mattawamkeag,Maine,to Rotterdam Junction,New York. Pan Am Railways is primarily made up of former Class II regional railroads such as Boston and Maine Corporation,Maine Central Railroad Company,Portland Terminal Company,and Springfield Terminal Railway Company. It was formerly known as Guilford Transportation Industries and was also known as Guilford Rail System. Guilford bought the name,colors,and logo of Pan American World Airways in 1998.
Ketan Parekh is a former stockbroker from Mumbai,who was convicted in 2008 for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. During this period,Parekh artificially rigged prices of certain chosen securities,using large sums of money borrowed from banks including the Madhavpura Mercantile Co-operative Bank,of which he himself was a director.
Securities fraud,also known as stock fraud and investment fraud,is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information. The setups are generally made to result in monetary gain for the deceivers,and generally result in unfair monetary losses for the investors. They are generally violating securities laws.
Bump stocks or bump fire stocks are gun stocks that can be used to assist in bump firing,the act of using the recoil of a semi-automatic firearm to fire ammunition cartridges in rapid succession.
Microcap stock fraud is a form of securities fraud involving stocks of "microcap" companies,generally defined in the United States as those with a market capitalization of under $250 million. Its prevalence has been estimated to run into the billions of dollars a year. Many microcap stocks are penny stocks,which the SEC defines as a security that trades at less than $5 per share,is not listed on a national exchange,and fails to meet other specific criteria.
Martin Jay Oberman is an American government official and attorney who has served as a member of the Surface Transportation Board (STB) since 2019 and as STB chair since 2021. He previously served as the chair of the board of directors at Metra,the Chicago commuter rail system.
David Alfred Perdue Jr. is an American politician and business executive who served as a United States senator from Georgia from 2015 to 2021. A member of the Republican Party,Perdue was an unsuccessful candidate for Governor of Georgia in 2022.
Justin George Muzinich is an American businessman and former Donald Trump administration official who served as the United States Deputy Secretary of the Treasury,from December 2018 to January 2021. Muzinich previously served as the Counselor to the Secretary at the United States Department of the Treasury. Prior to that,he served as Policy Director for the Presidential Campaign of Jeb Bush.
The 1992 Indian stock market scam was a market manipulation carried out by Harshad Shantilal Mehta with other bankers and politicians on the Bombay Stock Exchange. The scam caused significant disruption to the stock market of India,defrauding investors of over ten million USD.
Kelly Lynn Loeffler is an American businesswoman and politician who served as a United States senator from Georgia from 2020 to 2021. Loeffler was chief executive officer (CEO) of Bakkt,a subsidiary of commodity and financial service provider Intercontinental Exchange,of which her husband,Jeffrey Sprecher,is CEO. She is a former co-owner of the Atlanta Dream of the Women's National Basketball Association (WNBA). Loeffler is a member of the Republican Party.
Precision railroading or precision scheduled railroading (PSR) is a concept in freight railroad operations pioneered by E. Hunter Harrison in 1993,and adopted by nearly every North American Class I railroad. It shifts the focus from older practices,such as unit trains,hub and spoke operations,and individual car switching at hump yards to emphasizing point-to-point freight car movements on simplified routing networks. Under PSR,freight trains operate on fixed schedules,much like passenger trains,instead of being dispatched whenever a sufficient number of loaded cars are available. In the past,intermodal trains and general merchandise trains operated separately;under PSR they are combined as needed,typically with distributed power. Inventories of freight cars and locomotives are reduced and fewer workers are employed for a given level of traffic. The result is an often substantial decrease in railroad operating ratios and other financial and operating metrics at the cost of less-reliable service,long-term capacity issues,and possibly increased derailments and other safety risks associated with longer trains and crew fatigue.
The 2020 congressional insider trading scandal was a political scandal in the United States involving allegations that several members of the United States Senate violated the STOCK Act by selling stock at the start of the COVID-19 pandemic in the United States and just before a stock market crash on February 20,2020,using knowledge given to them at a closed Senate meeting. The Department of Justice (DOJ) initiated a probe into the stock transactions on March 30,2020. No charges were brought against anyone and all investigations into the matter are closed.
Michelle A. Schultz is an American attorney and government official. A member of the Republican Party,she has served as a member of the Surface Transportation Board (STB) since January 11,2021.
