When a corporation lists on the New York Stock Exchange, one of the ways the exchange says thanks is to run an announcement ad in The Wall Street Journal and The New York Times. These ads had been a difficult proposition for years. Were they an ad for the new listee? Or were they an ad for the New York Stock Exchange? The answer was yes.

An equally dicey problem occurred right after the crash of '87. Investor confidence had been badly shaken. The NYSE asked for an ad. One that explained the difference between a dynamic mid-course correction and the sky falling. Sorry, Karl. Somebody's got to take the heat.