Sunday, March 03, 2024

Revett staffer closes trading

by Sandra Faye Douthit - Reporter
| January 19, 2012 12:12 PM

Troy resident and Revett Troy Mine employee, Jerry Cummings, was chosen to ring the closing bell of the New York Stock Exchange (NYSE) on Wednesday.

“It was pretty exciting,” Cummings said. “It’s a big step for our company.”

Revett Minerals, Inc., was chosen to ring the closing bell for the NYSE on Wednesday. However, John Shanahan CEO and President of Revett, decided to begin a contest to choose a winner to ring the bell instead of ringing the bell himself. 

More than 200 employees from the mine entered a contest to win a trip to New York with a guest and ring the bell at the closing of the market.

All proceeds from the contest are to be donated to a charity of the winner’s choice. Cummings was chosen as the winner to ring the bell.

“We think we raised about $2,900,” Cummings said.

Cummings is still considering the charity he would like to donate the money to, he has a few ideas on his list before he makes his decision.

Jerry has worked at the Troy Mine for seven years.

He was proud to represent the 200 men and women working at the Troy Mine. Cummings was accompanied by his wife Andrea and their trip to New York city. Shanahan took the Cummings site seeing in the city to the Empire State Building and the Statue of Liberty.

Members of the Revett Troy Mine management team and board of directors joined Cummings during the bell-ringing event. The Company was listed on the NYSE Amex in May 2010.

The New York Stock Exchange (NYSE) is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA.

It is by far the world’s largest stock exchange by market capitalization of its listed companies at US$13.39 trillion as of Dec 2010.[4] Average daily trading value was approximately US$153 billion in 2008.

The NYSE is operated by NYSE Euronext (NYSE: NYX), which was formed by the NYSE’s 2007 merger with the fully electronic stock exchange Euronext. The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading.

A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978,[5] as was the 11 Wall Street building.