FOX Translator
No data currently available.
No data currently available.
It's time to let you in on a dirty little secret: You may not own the stock you own. That's right, if you invest with a brokerage firm, the shares you bought are almost certainly not held in your name. Technically, they're held in the name of the Wall Street firm you do business with, hence the term "street name."
No, you haven't been robbed. Ultimately, the decision to hold shares on the books under a different name doesn't affect the economic ramifications for you. You¿re listed as the "beneficial owner," even though the firm is the official owner of the shares. But, you are giving up some rights, and investors concerned about good corporate governance might want to get that stock back in their own names.
Here's the problem: If your stock is technically owned by, say, Merrill Lynch, then Merrill Lynch gets to do things with it that might work against your wishes. Take short selling. Investors who want to sell shares short need to first borrow those shares. The lenders are often the big Wall Street firms that are handing out Street-name shares. So, if you feel that a company you own is a victim of aggressive short selling, chances are your own shares are being used to fuel the shorting.
Also, your brokerage firm can cast ballots on some corporate matters affecting a company without getting your input. Technically, this can only happen in votes considered ¿routine¿ by securities regulators. But, there's a big catch: some big events, like board elections, are considered "routine" under law.
The good news is that you can easily fix the Street name problem: Just request that your brokerage firm makes you the listed owner of the shares. If they refuse, find a new firm.
Home
Monday, July 07, 2008
END Footwear Adds Staff, Advisory Team Member and Opens Design Center
Comtex
PORTLAND, Ore., July 7, 2008 /PRNewswire via COMTEX/ ----END Footwear, a new sustainability company focused on designing outside gear, announced today it has added Vince Price as CFO, Barry Schrimsher to the company advisory board and has opened a new design center in Portland, Oregon. With these additions, the company is setting the stage for the retail channel delivery of its first season of performance trail training shoes and the continued advancement towards sustainable design and manufacturing.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080508/AQTH130LOGO)
Vince Price brings more than 20 years in finance leadership to the management team of END. Prior to joining END, Price spent 15 years working for Intel Corporation in various finance roles including senior controller. At Intel, Price had full financial responsibility for procurement, internal and external manufacturing, new business startups and division/group profit and loss.
Barry Schrimsher, a long time outdoor and sporting goods industry leader, has joined the END advisory board. Schrimsher was a founding member of the Mountain Hardwear team in 1993, which was acquired by Columbia Sportswear in 2003. After the acquisition, Schrimsher joined Columbia Sportswear as regional sales manager. More recently, Schrimsher was an early member of the Crocs Footwear team.
END also opened its new design center in Portland at the historic John's Landing Water Tower. In keeping with the company's sustainable business practices, the new design center provides a location that will make it convenient for END staff to commute by bike and public transportation. Originally built in 1903, the John's Landing Water Tower is a mixed-use building that has retained its historic character with modern, efficient updates.
Added Andrew Estey, CEO and creative director for END, "As we fast approach the delivery of our first season product to the retail channel, the addition of Vince and Barry, along with the opening of our new design center, further strengthens our team and our commitment to building a sustainable brand."
For more information about END Footwear, visit the company blog at http://www.ENDoutdoor.com.
About END (environmentally neutral design) Footwear
Founded in 2007, END Footwear is an outside gear company building a new culture -- not a new corporation -- through an evolutionary design approach. Founded by award-winning shoe designer Andrew Estey and business partner Ben Finklea, END Footwear questions every component of design to minimize the environmental footprint of its products. For more information, visit the company's blog at http://www.endoutdoor.com.
SOURCE END Footwear
http://www.endoutdoor.com
Copyright (C) 2008 PR Newswire. All rights reserved
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
