http://www.latimes.com/business/la-fi-ipo4-2010feb04,0,578149.story
Imperial Capital calls off IPO amid investor indifference
The federal government and the press are constantly claiming that the random activity in the stock market is proof that the economy is recovering.
Imperial Capital Group tried to sell their stock for their IPO. Sales were sluggish, so they dropped the price of their stock. Sales were still sluggish, so they dropped their IPO.
So let me try to understand this situation.
A new business is trying to raise capital to expand their business. In the midst of our current economy recovery (for everything except jobs, homes and businsses) nobody wants to take a chance with a new company? Does this sound to you like there is any faith in our economy? Does this sound to you like we are in the middle of an economic recovery?
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