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"They're not big ax-wielding, restructuring, factory-closing types, " says Kurt Sanger, a Tokyo-based analyst at ING.
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They are the fourth- and fifth-seat sales since the Archipelago (nyse: AX - news - people ) transaction was announced April 20.
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The last place Thain had reason to look for salvation was Archipelago Holdings (amex: AX - news - people ), until this week the anti-New York Stock Exchange.
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