| After emerging from bankruptcy just a few short months ago, the Federal-Mogul Corporation has announced that it will be listing its Class A Common Stock on the NASDAQ Global Market beginning April 23, 2008. The company will trade its stock under the ticker symbol FDML. José Maria Alapont, the company's president and chief executive officer, and a representative group of employees, will commemorate the listing at the NASDAQ MarketSite in New York when the market opens that day. Dan Smith, president of the Capstone Financial Group, calls this announcement a signficant event for the company. In an interview with Aftermarket Business, Smith equated being listed on the NASDAQ to entering high school and called it a step up for the company. "Federal-Mogul has been a public company for a long time," Smith says. "But they've mainly been traded over-the-counter, which is a step below the NASDAQ market. To come out of bankruptcy and meet the requirements necessary to be listed on the NASDAQ is a big milestone for this company. This is good news for them." Smith adds that the company should be congratulated for its achievement, which is no small feat in the current economic climate. "The listing of Federal-Mogul's Common Stock on NASDAQ will be a significant milestone for the company," Alapont said in a press release issued by the company. "We are focused on executing our sustainable global profitable growth strategy based on leading technology and innovation to satisfy customers, shareholders and employees." For more information about Federal-Mogul, visit the company's Web site. |
