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When calling for directory assistance, operators used to tell their customers to "Have a nice day" after providing them with a phone number. As a consequence, many people forgot the number they were just given. What is the most likely explanation?
Bought Deal
A financing arrangement where an investment bank buys an entire new issue of securities from a company and resells it to investors.
Underwriter
A person or organization that evaluates and assumes the risk of another entity, often involved in issuing new securities as part of public offerings.
Securities
Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership such as options.
Floatation Costs
The expenses incurred by a company when issuing new securities, including underwriting fees, legal fees, and registration fees.
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