Coordinates	34°03′″N118°15′″N
Name	New York Stock Exchange
Logo
Type	Stock exchange
City	New York City
Country	United States
Foundation	March 8, 1817
Owner	NYSE Euronext
Key people	Duncan L. Niederauer (CEO)
Currency	United States dollar
Listings	2,317
Mcap	US$13.39 trillion (Dec 2010)
Volume	US$1439 billion (Nov 2010)
Indexes	NYSE CompositeDow Jones Industrial AverageS&P; 500
Homepage	nyse.com {{Infobox NRHP | embed yes | nrhp_type nhl | image New York Stock Exchange Simon Fieldhouse.jpg | caption Front Elevation of New York Stock Exchange | lat_degrees 40 | lat_minutes 42 | lat_seconds 24.6 | lat_direction N | long_degrees 74 | long_minutes 0 | long_seconds 39.7 | long_direction W | coord_parameters region:US-NY_type:landmark | coord_display inline, title |locmapin New York City | area | built 1903 | architect Trowbridge & Livingston; George B. Post | architecture Classical Revival | designated_nrhp_type June 2, 1978 | added June 2, 1978 | governing_body Private | refnum78001877 }}

}}

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 13.39 trillion as of Dec 2010. Average daily trading value was approximately 153 billion in 2008.

The NYSE is operated by NYSE Euronext, 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, as was the 11 Wall Street building.

History

The origin of the NYSE can be traced to May 17, 1792, when the Buttonwood Agreement was signed by 24 stock brokers outside of 68 Wall Street in New York under a buttonwood tree on Wall Street. On March 8, 1817, the organization drafted a constitution and renamed itself the "New York Stock & Exchange Board." Anthony Stockholm was elected the Exchange's first president.

The first central location of the Exchange was a room, rented in 1792 for $200 a month, located at 40 Wall Street. After that location was destroyed in the Great Fire of New York in 1835, the Exchange moved to a temporary headquarters. In 1863, the New York Stock & Exchange Board changed to its current name, the New York Stock Exchange. In 1865, the Exchange moved to 10–12 Broad Street.

The New York Stock Exchange was closed for ten days starting September 20, 1873, because of the Panic of 1873.

The volume of stocks traded increased sixfold in the years between 1896 and 1901, and a larger space was required to conduct business in the expanding marketplace. Eight New York City architects were invited to participate in a design competition for a new building; ultimately, the Exchange selected the neoclassic design submitted by architect George B. Post. Demolition of the Exchange building at 10 Broad Street, and adjacent buildings, started on May 10, 1901.

The new building, located at 18 Broad Street, cost $4 million and opened on April 22, 1903. The trading floor, at 109 × 140 feet (33 × 42.5 m), was one of the largest volumes of space in the city at the time, and had a skylight set into a -high ceiling. The main façade of the building features six tall columns with Corinthian capitals, topped by a marble pediment containing high-relief sculptures by John Quincy Adams Ward with the collaboration of Paul Wayland Bartlett, carved by the Piccirilli Brothers, representing ''Integrity Protecting the Works of Man''. The building was listed as a National Historic Landmark and added to the National Register of Historic Places on June 2, 1978.

In 1922, a building for offices, designed by Trowbridge & Livingston, was added at 11 Wall Street, as well as a new trading floor called the ''Garage''. Additional trading floor space was added in 1969 the ''Blue Room'', and in 1988 the ''EBR'' or ''Extended Blue Room'', with the latest technology for information display and communication. Yet another trading floor was opened at 30 Broad Street called the ''Bond Room'' in 2000. As the NYSE introduced its hybrid market, a greater proportion of trading came to be executed electronically, and due to the resulting reduction in demand for trading floor space, the NYSE decided to close the 30 Broad Street trading room in early 2006. As the adoption of electronic trading continued to reduce the number of traders and employees on the floor, in late 2007, the NYSE closed the rooms created by the 1969 and 1988 expansions.

The Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. The NYSE announced its plans to merge with Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, and become a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year later, on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming the NYSE Euronext, the first transatlantic stock exchange.

Presently, Marsh Carter is Chairman of the New York Stock Exchange, having succeeded John S. Reed and the CEO is Duncan Niederauer, having succeeded John Thain.

Notable events

The exchange was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds, and completely reopened for stock trading in mid-December.

On September 16, 1920, a bomb exploded on Wall Street outside the NYSE building, killing 33 people and injuring more than 400. The perpetrators were never found. The NYSE building and some buildings nearby, such as the JP Morgan building, still have marks on their façades caused by the bombing.

The Black Thursday crash of the Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday, October 29, are often blamed for precipitating the Great Depression of 1929. In an effort to try to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938.

On October 1, 1934, the exchange was registered as a national securities exchange with the U.S. Securities and Exchange Commission, with a president and a thirty-three member board. On February 18, 1971 the non-profit corporation was formed, and the number of board members was reduced to twenty-five.

One of Abbie Hoffman's well-known publicity stunts took place in 1967, when he led members of the Yippie movement to the Exchange's gallery. The provacateurs hurled toward the trading floor below fistfuls made up partiallly of U.S. currency and partially of what only appeared to be. Some traders booed, and some collected the apparent bounty. The press was quick to respond and by evening the event was reported around the world. (The stock exchange later spent $20,000 to enclose the gallery with bulletproof glass.) Hoffman wrote a decade later, "We didn’t call the press; at that time we really had no notion of anything called a media event."

On October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped 508 points, a 22.6% loss in a single day, the second-biggest one-day drop the exchange had experienced, prompting officials at the exchange to invoke for the first time the "circuit breaker" rule to halt all trading. This was a very controversial move and led to a quick change in the rule; trading now halts for an hour, two hours, or the rest of the day when the DJIA drops 10, 20, or 30 percent, respectively. In the afternoon, the 10% and 20% drops will halt trading for a shorter period of time, but a 30% drop will always close the exchange for the day. The rationale behind the trading halt was to give investors a chance to cool off and reevaluate their positions. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades.

Consequently, there was another major drop for the Dow on October 13, 1989; the Mini-Crash of 1989. The crash was apparently caused by a reaction to a news story of a $6.75 billion leveraged buyout deal for UAL Corporation, the parent company of United Airlines, which broke down. When the UAL deal fell through, it helped trigger the collapse of the junk bond market causing the Dow to fall 190.58 points, or 6.91 percent.

Similarly, there was a panic in the financial world during the year of 1997; the Asian Financial Crisis. Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as the 1997 Mini-Crash but from which the DJIA recovered quickly.

On January 26, 2000, an altercation during filming of the music video for "Sleep Now in the Fire", which was directed by Michael Moore, caused the doors of the exchange to be closed and the band, Rage Against the Machine, to be escorted from the site by security, after band members attempted to gain entry into the exchange. Trading on the exchange floor, however, continued uninterrupted.

On May 6, 2010, the Dow Jones Industrial Average posted its largest intraday percentage drop since the October 19, 1987 crash, with a 998 point loss later being called the Flash Crash (As the drop occurred in minutes before rebounding). The SEC and CFTC published a report on the event, although it did not come to a conclusion as to the cause. The regulators found no evidence that the fall was caused by erroneous ("fat finger") orders.

Trading

The New York Stock Exchange (sometimes referred to as "the Big Board") provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. The NYSE is open for trading Monday through Friday between 9:30 am – 4:00 pm ET, with the exception of holidays declared by the Exchange in advance.

On the trading floor, the NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by an NYSE member firm (that is, he/she is not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to the crowd that helps to bring buyers and sellers together. The auction process moved toward automation in 1995 through the use of wireless hand held computers (HHC). The system enabled traders to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1000 shares of IBM through this HHC ending a 203 year process of paper transactions and ushering in an era of automated trading.

As of January 24, 2007, all NYSE stocks can be traded via its electronic Hybrid Market (except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume was delivered to the floor electronically.

Until 2005, the right to directly trade shares on the exchange was conferred upon owners of the 1366 "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number was increased several times over the years. In 1953, the number of seats was set at 1366. These seats were a sought-after commodity as they conferred the ability to directly trade stock on the NYSE. Seat prices varied widely over the years, generally falling during recessions and rising during economic expansions. The most expensive inflation-adjusted seat was sold in 1929 for $625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $4 million in the late 1990s and as low as $1 million in 2001. In 2005, seat prices shot up to $3.25 million as the exchange entered into an agreement to merge with Archipelago and become a for-profit, publicly traded company. Seat owners received $500,000 in cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange.

NYSE Composite Index

In the mid-1960s, the NYSE Composite Index () was created, with a base value of 50 points equal to the 1965 yearly close. This was done to reflect the value of all stocks trading at the exchange instead of just the 30 stocks included in the Dow Jones Industrial Average. To raise the profile of the composite index, in 2003 the NYSE set its new base value of 5,000 points equal to the 2002 yearly close.

Timeline

In 1792, The NYSE acquires its first traded securities . In 1817, The constitution of the New York Stock and Exchange Board is adopted. In 1867, The First Stock Ticker. In 1896, Dow Jones Industrial Average first published in ''The Wall Street Journal''. In 1903, NYSE moves into new quarters at 18 Broad Street. In 1906, Dow exceeds 100 on January 12. In 1907, Panic of 1907. In 1914, World War I causes the longest exchange shutdown: four months, two weeks; re-opening December 12 brings the largest one-day percentage drop in the DJIA (24.4%). In 1915, Market price is given in dollars. In 1929, Central quote system established; Black Thursday, October 24 and Black Tuesday, October 29 signal the end of the Roaring Twenties bull market. In 1943, Trading floor is opened to women. In 1949, Longest (eight-year) bull market begins.

In 1954, Dow surpasses its 1929 peak in inflation-adjusted dollars. In 1956, Dow closes above 500 for the first time on March 12. In 1966, the NYSE begins a composite index of all listed common stocks. This is referred to as the "Common Stock Index" and is transmitted daily. The starting point of the index is 50. It is later renamed the NYSE Composite Index. In 1967, Protesters led by Abbie Hoffman throw mostly fake dollar bills at traders from gallery, leading to the installation of bullet-proof glass. In 1970, Securities Investor Protection Corporation established. In 1971, NYSE recognized as Not-for-Profit organization. In 1972, Dow closes above 1,000 for the first time on November 14. In 1977, Foreign brokers are admitted to NYSE. In 1980, New York Futures Exchange established. In 1982, Longest bull market in DJIA history begins. In 1987, Black Monday, October 19, sees the second-largest one-day DJIA percentage drop (22.6%) in history. In 1991, Dow exceeds 3,000. In 1995, Dow exceeds 5,000. In 1996, Real-time ticker introduced. In 1999, Dow exceeds 10,000 on March 29. In 2000, Dow peaks at 11,722.98 on January 14; first NYSE global index is launched under the ticker NYIID.

In 2001, Trading in fractions (n/16) ends, replaced by decimals (increments of $.01, see Decimalization); September 11, 2001 attacks occur, closing NYSE for 4 sessions. In 2003, NYSE Composite Index relaunched and value set equal to 5,000 points. In 2006, NYSE and ArcaEx merge, creating NYSE Arca and forming the publicly owned, for-profit NYSE Group, Inc.; in turn, NYSE Group merges with Euronext, creating the first trans-Atlantic stock exchange group; DJIA tops 12,000 on October 19. In 2007, US President George W. Bush shows up unannounced to the Floor about an hour and a half before a Federal Open Market Committee interest-rate decision on January 31. NYSE announces its merger with the American Stock Exchange; NYSE Composite closes above 10,000 on June 1; DJIA exceeds 14,000 on July 19 and closes at an all time peak of 14,164.53 on October 9. This was the peak before the 2008–2009 bust.

On September 15, 2008, the DJIA loses more than 500 points amid fears of bank failures, resulting in a permanent prohibition of naked short selling and a three-week temporary ban on all short selling of financial stocks; in spite of this, record volatility continues for the next two months, culminating at 5½-year market lows. In 2009, Dow closes at 6547.05 on March 9 reaching a 12 year low. Returns to 10,015.86 on October 14.

Merger with Deutsche Börse

On February 15, 2011 NYSE and Deutsche Börse announced their merger to form a new company, as yet unnamed, wherein Deutsche Börse shareholders will have 60% ownership of the new entity, and NYSE-Euronext shareholders will have 40%.

See also

Economy of New York City

List of American stock exchanges

List of presidents of the New York Stock Exchange

U.S. Securities and Exchange Commission

List of market opening times

Notes

References

External links

Price of membership and a seat

Category:National Historic Landmarks in New York City Category:Buildings and structures on the National Register of Historic Places in Manhattan Category:Economy of the United States Category:Stock exchanges in the United States Category:Companies established in 1817 Category:1817 establishments in the United States

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Richard A. "Dick" Grasso (born July 26, 1946 in Jackson Heights, Queens, New York City) was chairman and chief executive of the New York Stock Exchange from 1995 to 2003, the culmination of a career that began in 1968 when Grasso was hired by the Exchange as a floor clerk. After the September 11, 2001 terrorist attacks, Grasso became the public face of the Exchange and was praised for his role in helping restart operations. He later became embroiled in controversies and lawsuits about his excessive pay package and $140million golden parachute.

Background

Grasso was raised by his mother and two aunts in Jackson Heights, New York City since his father left the family when Richard was an infant. He graduated from Newtown High School, and attended Pace University for two years before enlisting in the Army. Two weeks after leaving the Army in 1968, Grasso became a clerk at the New York Stock Exchange.

Richard moved up rapidly in the ranks, becoming president of the exchange and then CEO in the early 1990s. As CEO, he was widely credited with cementing the New York Stock Exchange's position as the preeminent U.S. stock market. Grasso also served as an advisory board member for the Yale School of Management.

FARC controversy

On June 26, 1999 Reuters reported that Grasso met with Colombian rebels, the FARC, in an article entitled "NYSE Chief Meets Top Colombia Rebel Leader". The FARC is considered a terrorist organization by the U.S. State Department (on its list of Foreign Terrorist Organizations) and is allegedly responsible for kidnappings and narcotics trafficking in order to bankroll their revolutionary activities (see: narcoterrorism).

The article quoted Grasso as saying, "I invite members of the FARC to visit the New York Stock Exchange so that they can get to know the market personally." Some found the meeting inexplicable, considering the FARC supports anti-capitalist ideals and has no officially recognized financial clout. Grasso told reporters that he was bringing "a message of cooperation from U.S. financial services."

NYSE compensation controversy

On August 27, 2003 it was revealed that Grasso had been given a deferred compensation pay package worth almost $140 million. This caused immediate controversy, as the hand-picked compensation committee consisted mainly of representatives from NYSE-listed companies over which Grasso had regulatory authority as head of the Exchange.

Following criticism of the deal from U.S. Securities and Exchange Commission chairman William H. Donaldson, who preceded Grasso as Chairman of the NYSE, and several pension fund heads (who control some of the largest pools of equity investment capital in the U.S.), the Exchange board met and in a 13-to-7 vote asked Grasso to leave. He stepped down on September 17, 2003.

On May 24, 2004 Grasso was sued by New York state Attorney General Eliot Spitzer demanding repayment of the majority of the $140 million pay package. Prior to being dismissed Grasso had been in line to receive an additional $48 million over the $139.5 million he had already received; he was not paid the additional funds. Grasso has sued to be awarded those funds. According to the suit, Grasso, along with former NYSE director Kenneth Langone, misled the NYSE board about the details of his pay package. It was allegedly well beyond that of comparable chief executives. The NYSE was a non-profit institution during Richard Grasso's reign, and as such was governed by State of New York rules governing executive compensation for same. That the NYSE was NON-profit goes to the heart of the matter of Grasso's compensation. This is because FOR-profit companies have traditionally received much greater leeway in executive compensation matters, even when the compensation might appear to be excessive to stockholders. In addition, there were issues concerning premature withdrawals of Grasso's retirement compensation. Retirement packages often have strict timetables as to when withdrawals can be made.

On May 26, 2004 Grasso responded with a counter-suit against the Exchange and its chairman John Reed. The counterclaim was twofold; It sought restitution of unpaid portions of his retirement package and further accused certain individuals at the Exchange of "besmirching his name". Grasso went on to place a 1500-word op-ed article in the ''Wall Street Journal'' detailing this counter-suit as well as his grievances against Spitzer.

The lawsuit against Grasso continued to move toward trial in 2006 with neither side showing any interest in settling.

On October 19, 2006 it was reported that the New York State Supreme Court issued a summary decision ordering Grasso to repay a significant amount of excess compensation in an article entitled "Ex-NYSE chief ordered to return part of $188M". Although Grasso will appeal, the same article reports that Spitzer's office has disclosed the amount of restitution to be in the tens of millions of dollars. In his ruling Judge Ramos wrote that Grasso's failure to disclose the true extent of his total compensation prevented the compensation committee from exercising its fiduciary duties. The above CNN article also reported that Grasso's counterclaim of defamation was dismissed.

The suit against Grasso has come under criticism from some commentators, with journalist Charles Gasparino lambasting it in the epilogue to his book ''Blood on the Street''. He is the subject of a book by Gasparino, ''King of the Club''.

On July 1, 2008 the New York State Court of Appeals dismissed all claims against Grasso. The majority opinion stated that since the NYSE was now a subsidiary of a for-profit multinational corporation the State of New York had no oversight over the affairs of the company in this matter and that prosecution was "not in the public interest." Current Attorney General Andrew Cuomo stated that he had no intention to appeal this decision any further and that the case was effectively over. The court ruled that Grasso was entitled to the entirety of his compensation. The court also dismissed Grasso's actions against the NYSE and other parties as related to this matter.

According to the Washington Post, during a SEC investigation Grasso invoked his fifth amendment rights against self-incrimination in refusing to answer questions regarding his conduct during an NYSE investigation into possibly improper activities by Exchange specialist firms. The specialist firms paid $242 million in settlements with the SEC, and the NYSE itself was censured for failing to properly supervise the specialist firms.

Personal life

Grasso is currently residing in New York with his wife Lorraine and his four children: Jennie, Christine, Richard and Catherine.

See also

Gasparino, Charles (2007). ''King of the Club: Richard Grasso and the Survival of the New York Stock Exchange''. HarperCollins.

References

External links

Richard Grasso's federal campaign contributions

Category:Living people Category:1946 births Category:New York Stock Exchange Category:American businesspeople Category:American people of Italian descent Category:People from Queens Category:Pace University alumni

fr:Richard Grasso

Coordinates	34°03′″N118°15′″N
birth name	Michael Francis Moore
birth date	April 23, 1954
birth place	Flint, Michigan, United States
years active	1972–present
occupation	Actor, director, screenwriter, producer
spouse	Kathleen Glynn (1991–present)
alma mater	University of Michigan–Flint (dropped out)
website	http://michaelmoore.com/ }}

Michael Francis Moore (born April 23, 1954) is an American filmmaker, author and liberal political commentator. He is the director and producer of ''Bowling for Columbine'', ''Fahrenheit 9/11'', ''Sicko'', and ''Capitalism: A Love Story'', four of the top ten highest-grossing documentaries of all time. In September 2008, he released his first free movie on the Internet, ''Slacker Uprising'', documenting his personal crusade to encourage more Americans to vote in presidential elections. He has also written and starred in the TV shows ''TV Nation'' and ''The Awful Truth''.

Moore criticizes globalization, large corporations, assault weapon ownership, U.S. Presidents Bill Clinton and George W. Bush, the Iraq War, the American health care system, and capitalism in his written and cinematic works.

Early life

Moore was born in Flint, Michigan and raised in Davison, a suburb of Flint, by parents Veronica (née Wall), a secretary, and Frank Moore, an automotive assembly-line worker. At that time, the city of Flint was home to many General Motors factories, where his parents and grandfather worked. His uncle LaVerne was one of the founders of the United Automobile Workers labor union and participated in the Flint Sit-Down Strike. Moore has described his parents as "Irish Catholic Democrats, basic liberal good people."

Moore was brought up Roman Catholic, attended parochial St. John's Elementary School for primary school and originally intended to join the seminary. He then attended Davison High School, where he was active in both drama and debate, graduating in 1972. As a member of the Boy Scouts of America, he achieved the rank of Eagle Scout. At the age of 18, he was elected to the Davison school board.

Career

After dropping out of the University of Michigan–Flint following his freshman year (where he wrote for the student newspaper ''The Michigan Times''), Moore worked at the local Buick plant. At 22 he founded the alternative weekly magazine ''The Flint Voice'', which soon changed its name to ''The Michigan Voice'' as it expanded to cover the entire state. In 1986, when Moore became the editor of ''Mother Jones'', a liberal political magazine, he moved to California and ''The Michigan Voice'' was shut down.

After four months at ''Mother Jones'', Moore was fired. Matt Labash of ''The Weekly Standard'' reported this was for refusing to print an article by Paul Berman that was critical of the Sandinista human rights record in Nicaragua. Moore refused to run the article, believing it to be inaccurate. "The article was flatly wrong and the worst kind of patronizing bullshit. You would scarcely know from it that the United States had been at war with Nicaragua for the last five years." Berman described Moore as a "very ideological guy and not a very well-educated guy" when asked about the incident. Moore believes that ''Mother Jones'' fired him because of the publisher's refusal to allow him to cover a story on the GM plant closings in his hometown of Flint, Michigan. He responded by putting laid-off GM worker Ben Hamper (who was also writing for the same magazine at the time) on the magazine's cover, leading to his termination. Moore sued for wrongful dismissal, and settled out of court for $58,000, providing him with seed money for his first film, ''Roger & Me.''

Directing/producing

; ''Roger & Me'': Moore first became famous for his 1989 film, ''Roger & Me'', a documentary about what happened to Flint, Michigan after General Motors closed its factories and opened new ones in Mexico, where the workers were paid much less. Since then Moore has been known as a critic of the neoliberal view of globalization. "Roger" is Roger B. Smith, former CEO and president of General Motors.

; ''Pets or Meat: The Return to Flint'': (1992) is a short (23-minute) documentary film that was aired on PBS. It is based on the feature-length film ''Roger & Me'' (1989) by Michael Moore. The film's title refers to Rhonda Britton, a Flint, Michigan, resident featured in both the 1989 and 1992 films who sells rabbits as either pets or meat.

; ''Canadian Bacon'': In 1995, Moore released a satirical film, ''Canadian Bacon'', which features a fictional US president (played by Alan Alda) engineering a fake war with Canada in order to boost his popularity. It is noted for containing a number of Canadian and American stereotypes, and for being Moore's only non-documentary film. The film is also one of the last featuring Canadian-born actor John Candy, and also features a number of cameos by other Canadian actors. In the film, several potential enemies for America's next great campaign are discussed by the president and his cabinet. (The scene was strongly influenced by the Stanley Kubrick film ''Dr. Strangelove.'') The President comments that declaring war on Canada was as ridiculous as declaring war on international terrorism. His military adviser, played by Rip Torn, quickly rebuffs this idea, saying that no one would care about "... a bunch of guys driving around blowing up rent-a-cars."

; ''The Big One'': In 1997, Moore directed ''The Big One'', which documents the tour publicizing his book ''Downsize This! Random Threats from an Unarmed American'', in which he criticizes mass layoffs despite record corporate profits. Among others, he targets Nike for outsourcing shoe production to Indonesia.

; ''Bowling for Columbine'': Moore's 2002 film, ''Bowling for Columbine'', probes the culture of guns and violence in the United States, taking as a starting point the Columbine High School massacre of 1999. ''Bowling for Columbine'' won the Anniversary Prize at the 2002 Cannes Film Festival and France's César Award as the Best Foreign Film. In the United States, it won the 2002 Academy Award for Documentary Feature. It also enjoyed great commercial and critical success for a film of its type and became, at the time, the highest-grossing mainstream-released documentary (a record now held by Moore's ''Fahrenheit 9/11''). It was praised by some for illuminating a subject slighted by the mainstream media.

; ''Fahrenheit 9/11'': ''Fahrenheit 9/11'' examines America in the aftermath of the September 11, 2001 attacks, particularly the record of the Bush administration and alleged links between the families of George W. Bush and Osama bin Laden. ''Fahrenheit'' was awarded the ''Palme d'Or'', the top honor at the 2004 Cannes Film Festival; it was the first documentary film to win the prize since 1956. Moore later announced that ''Fahrenheit 9/11'' would not be in consideration for the 2005 Academy Award for Documentary Feature, but instead for the Academy Award for Best Picture. He stated he wanted the movie to be seen by a few million more people via a television broadcast prior to election day. According to Moore, "Academy rules forbid the airing of a documentary on television within nine months of its theatrical release", and since the November 2 election was fewer than nine months after the film's release it would have been disqualified for the Documentary Oscar. However, Fahrenheit received no Oscar nomination for Best Picture. The title of the film alludes to the classic book ''Fahrenheit 451'' about a future totalitarian state in which books are banned; according to the book, paper begins to burn at 451 degrees Fahrenheit. The pre-release subtitle of the film confirms the allusion: "The temperature at which freedom burns." At the box office, as of 2010 ''Fahrenheit 9/11'' is the highest-grossing documentary of all time, taking in over US$200 million worldwide, including United States box office revenue of almost US$120 million. In February 2011, Moore sued producers Bob and Harvey Weinstein for US$2.7 million in unpaid profits from the film, claiming they used "Hollywood accounting tricks" to avoid paying him the money.

; ''Sicko'': Moore directed this film about the American health care system, focusing particularly on the managed-care and pharmaceutical industries. At least four major pharmaceutical companies—Pfizer, Eli Lilly, AstraZeneca, and GlaxoSmithKline—ordered their employees not to grant any interviews to Moore. According to Moore on a letter at his website, "roads that often surprise us and lead us to new ideas—and challenge us to reconsider the ones we began with have caused some minor delays." The film premiered at the Cannes Film Festival on 19 May 2007, receiving a lengthy standing ovation, and was released in the U.S. and Canada on 29 June 2007. The film was the subject of some controversy when it became known that Moore went to Cuba with chronically ill September 11th rescue workers to shoot parts of the film. The United States is looking into whether this violates the trade embargo. The film is currently ranked the fourth highest grossing documentary of all time and received an Academy Award nomination for Best Documentary Feature.

; ''Captain Mike Across America'':Moore takes a look at the politics of college students in what he calls "Bush Administration America" with this film shot during Moore's 60-city college campus tour in the months leading up to the 2004 election. The film was later re-edited by Moore into ''Slacker Uprising''.

; ''Capitalism: A Love Story'': On September 23, 2009, Moore released a new movie titled ''Capitalism: A Love Story'', which looks at the late-2000s financial crisis and the U.S. economy during the transition between the incoming Obama Administration and the outgoing Bush Administration. Addressing a press conference at its release, Moore said, "Democracy is not a spectator sport, it's a participatory event. If we don't participate in it, it ceases to be a democracy. So Obama will rise or fall based not so much on what he does but on what we do to support him."

Acting

Moore has dabbled in acting, following a 2000 supporting role in ''Lucky Numbers'' as the cousin of Lisa Kudrow's character, who agrees to be part of the scheme concocted by John Travolta's character. He also had a cameo in his ''Canadian Bacon'' as an anti-Canada activist. In 2004, he did a cameo, as a news journalist, in ''The Fever'', starring Vanessa Redgrave in the lead.

Television

Between 1994 and 1995, he directed and hosted the BBC television series ''TV Nation'', which followed the format of news magazine shows but covered topics they avoid. The series aired on BBC2 in the UK. The series was also aired in the US on NBC in 1994 for 9 episodes and again for 8 episodes on Fox in 1995.

His other major series was ''The Awful Truth'', which satirized actions by big corporations and politicians. It aired on Channel 4 in the UK, and the Bravo network in the US, in 1999 and 2000.

Another 1999 series, ''Michael Moore Live'', was aired in the UK only on Channel 4, though it was broadcast from New York. This show had a similar format to ''The Awful Truth'', but also incorporated phone-ins and a live stunt each week.

In 1999 Moore won the Hugh M. Hefner First Amendment Award in Arts and Entertainment, for being the executive producer and host of ''The Awful Truth'', where he was also described as "muckraker, author and documentary filmmaker".

Music videos

Moore has directed several music videos, including two for Rage Against the Machine for songs from ''The Battle of Los Angeles'': "Sleep Now in the Fire" and "Testify". He was threatened with arrest during the shooting of "Sleep Now in the Fire", which was filmed on Wall Street; the city of New York had denied the band permission to play there, although the band and Moore had secured a federal permit to perform.

He also directed the videos for R.E.M. single "All the Way to Reno (You're Gonna Be a Star)" in 2001 and the System of a Down song "Boom!".

Appearances in other documentaries

Moore appeared in ''The Drugging of Our Children'', a 2005 documentary about over-prescription of psychiatric medication to children and teenagers, directed by Gary Null a proponent of Alternative Medicine. In the film Moore agrees with Gary Null that Ritalin and other similar drugs are over-prescribed, saying that they are seen as a "pacifier".

Moore appeared on fellow Flint natives Grand Funk Railroad's edition of Behind The Music.

Moore appeared as an off-camera interviewer in ''Blood in the Face'', a 1991 documentary about white supremacy groups. The film centers around a neo-Nazi gathering in Michigan.

Moore appeared in ''The Yes Men'', a 2003 documentary about two men who pose as the World Trade Organization. He appears during a segment concerning working conditions in Mexico and Latin America.

Moore was interviewed for the 2004 documentary, ''The Corporation.'' One of his highlighted quotes was: "The problem is the profit motive: for corporations, there's no such thing as 'enough'".

Moore appeared in the 2006 documentary ''I'm Going to Tell You a Secret'', which chronicles Madonna during her 2004 Re-Invention World Tour. Moore attended her show in New York City at Madison Square Garden.

Books

Moore has authored three best-selling books:

''Downsize This!'' (1996), about politics and corporate crime in the United States,

''Stupid White Men'' (2001), ostensibly a critique of American domestic and foreign policy but, by Moore's own admission, "a book of political humor," and

''Dude, Where's My Country?'' (2003), an examination of the Bush family's relationships with Saudi royalty, the Bin Laden family, and the energy industry, and a call-to-action for liberals in the 2004 election.

Political views

Though Moore rejects the label "political activist", he has been active in promoting his political views. According to John Flesher of the Associated Press, Moore is known for his "fiery left-wing populism," and publications such as the Socialist Worker Online have hailed him as the "new Tom Paine."

Moore was a high-profile guest at both the 2004 Democratic National Convention and the 2004 Republican National Convention, chronicling his impressions in ''USA Today''. He was criticized in a speech by Republican Senator John McCain as "a disingenuous film-maker." Moore laughed and waved as Republican attendees jeered, later chanting "four more years." Moore gestured his thumb and finger at the crowd, which translates into "loser."

During September and October 2004, Moore spoke at universities and colleges in swing states during his "Slacker Uprising Tour". The tour gave away ramen and underwear to young people who promised to vote. This provoked public denunciations from the Michigan Republican Party and attempts to convince the government that Moore should be arrested for buying votes, but since Moore did not tell the "slackers" involved for ''whom'' to vote, just to vote, district attorneys refused to get involved. Quite possibly the most controversial stop during the tour was Utah Valley State College in Orem, Utah. A fight for his right to speak ensued and resulted in massive public debates and a media blitz. Death threats, bribes and lawsuits followed. The event was chronicled in the documentary film ''This Divided State''.

Despite having supported Ralph Nader in 2000, Moore urged Nader not to run in the 2004 election so as not to split the left vote. On ''Real Time with Bill Maher'', Moore and Maher knelt before Nader to plead with him to stay out of the race. In June 2004, Moore stated that he is not a member of the Democratic party. Although Moore endorsed General Wesley Clark for the Democratic nomination on January 14, Clark withdrew from the primary race on February 11.

Moore drew attention when charging publicly that Bush was AWOL during his service in the National Guard, describing Bush as "The Deserter" (see George W. Bush military service controversy).

On April 21, 2008, Moore endorsed Barack Obama for President, stating that Hillary Clinton's recent actions had been "disgusting."

In December 2010, Moore publicly offered to contribute $20,000 to the bail of Julian Assange, then held in custody in Britain after Swedish prosecutors sent a European Arrest Warrant, wanting to question Assange for alleged sex crimes. Moore also wrote an open letter to the Swedish government, citing statistics on the increasing number of reported rape cases in Sweden. Some of these statistics appear to have been misinterpreted.

Personal life

Since 1990, Moore has been married to producer Kathleen Glynn, with whom he has a stepdaughter named Natalie. They live in Traverse City, Michigan.

Moore is a Catholic, but has said he disagrees with church teaching on subjects such as abortion and same-sex marriage. He acquired a life membership to the National Rifle Association following the Columbine massacre.

In 2005 ''Time'' magazine named him one of the world's 100 most influential people. Also in 2005, Moore started the annual Traverse City Film Festival in Traverse City, Michigan.

Moore's net worth has been estimated at "8 figures".

Controversy

Moore was criticized by Sean Hannity for criticizing capitalism while benefiting from it himself.

Published work

Bibliography

Filmography

''Roger & Me'' (1989)

''Pets or Meat: The Return to Flint'' (1992) (TV)

''Canadian Bacon'' (1995)

''The Big One'' (1997)

''And Justice for All'' (1998) (TV)

''Lucky Numbers'' (2000) (as actor)

''Bowling for Columbine'' (2002)

''The Corporation'' (2003)

''Fahrenheit 9/11'' (2004) "Palme d'Or" in Cannes

''Sicko'' (2007)

''Captain Mike Across America'' (2007)

''Slacker Uprising'' (2008)

''Capitalism: A Love Story'' (2009)

Television series

''TV Nation'' (1994)

''The Awful Truth'' (1999)

''Michael Moore Live'' (1999)

References

External links

Michael Moore on YouTube

The Populist: Michael Moore Can Make You Cry / ''New Yorker'' (16 February 2004)

America's Teacher by Naomi Klein, ''The Nation'', September 23, 2009

A 2007 NOW on PBS interview with Michael Moore What makes him tick, and why our health care system ticks him off

Michael Moore on His Life, His Films and His Activism - video interview by ''Democracy Now!''

Michael Moore on 2010 Midterm Elections, the Tea Party, and the Future of the Democratic Party

Category:1954 births Category:Living people Category:People from Flint, Michigan Category:Actors from Michigan Category:American alternative journalists Category:American anti–Iraq War activists Category:American anti-war activists Category:American documentary filmmakers Category:American film actors Category:American film directors Category:American health activists Category:American political writers Category:American social commentators Category:American writers of Irish descent Category:César Award winners Category:Documentary film directors Category:Eagle Scouts Category:Emmy Award winners Category:National Rifle Association members Category:University of Michigan alumni Category:Writers from Michigan Category:Writers Guild of America Award winners Category:Youth empowerment individuals Category:Youth rights individuals Category:Roman Catholic activists Category:Academy Award winners

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