Specifically, the Nasdaq excludes anyone who was employed the company in the past three years.
Only Facebook was valued higher as a private company – $50bn – by investors when it raised money ahead of floating on Nasdaq.
Thursday's 'no email day' is one of a number of private sector management strategies introduced to the department by Stephen Kelly, the Government's Chief Operating Officer and a former Nasdaq executive, in order to make it more efficient.
News Corp is, however, in full compliance with the rules set by the Nasdaq, the exchange on which its stock is traded, and with federal law.
Nasdaq has some issues to deal with back home, not least its impending demutualisation, and is unlikely to launch a full-scale takeover effort on its own.
Although Irish, Elan is exposed to American investors through its Nasdaq listing.
On October 18th, for example (long before the election debacle), the Nasdaq lost 6% of its value at one point; and then recorded one of its largest one-day gains on October 19th.
What makes the decline of the Nasdaq over recent months different from stockmarket declines of the past is that, even now, many shares still look overvalued in terms of price-earnings ratios (see chart).
Euronext may make a fresh approach to London once this hurdle has been overcome.One further possible suitor is Nasdaq, America's electronic stockmarket and a putative partner to iX's high-growth market.
This helps explain why the Dow reflecting the fortunes of more traditional old-economy firms—has, overall, performed better than the Nasdaq in recent months.Second, there is a recognition that, at least in some cases, stocks have been overvalued.
Mr Bastaiens, a Silicon Valley veteran who returned to his native Belgium to run L&H in 1996, just after its Nasdaq debut, could even claim that the firm was ready to rub shoulders with the likes of SAP and Nokia.That said, there was always something slightly hubristic about both L&H and Mr Bastaiens.
