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The 2013 IPO Express is pulling into the Wall Street Station this week. The train is on time and in sync with past years – mid-January arrival – and this week’s theme is income. People are thirsty for yield.

 

Averages can be misleading. That’s what former Secretary of Labor Robert Reich told an investment bankers’ convention in 1994. He gave an example. He said if he (about 5 feet tall) got on an elevator with Kareem Abdul-Jabbar (about 7 feet tall), the average height of the occupants would be 6 feet. He made his point.

 

There were three noteworthy stories in 2012’s IPO market. The first was the year’s most dramatic IPO. The next was a major change in how companies go public. And the third was this year’s stock market – it wrote the script to the IPO calendar.

 

“It ain’t over ‘til it’s over,” said baseball Hall of Fame member Yogi Berra. And those words of wisdom apply to today’s IPO calendar. Three of last week’s proposed offerings were pushed into this week. By Friday, the 2012 IPO market just might be over.

 

This week, the 2012 IPO Express prepares to make its last run of the year. Today’s timetable is only following schedules from past years when the IPO traffic comes to its end by mid-December.