Trading had already been under way for 30 minutes, and brokers were carefully watching the big illuminated screen that carries the latest stock quotations to the turbulent floor of the New York Stock Exchange. Suddenly there flashed a terse announcement about Columbia Pictures: CPS WILL NOT OPEN FOR TRADING TODAY. Thus last Friday began yet another episode in the unending saga of the troubled moviemaker.
The exchange's floor governors, meeting in an emergency session, had decided on the suspension because of an article in the New York Times...
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