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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.
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Friday, July 04, 2008
Fortune Affiliates Announces Christmas in July for Online Casino Affiliates
Comtex
BELIZE CITY, Belize, July 4, 2008 /PRNewswire via COMTEX/ ----Winning is oh-so-easy. All affiliates have to do is bring in New Active Casino Players between July 1 to August 31, 2008. The more players they bag, the higher the value of the Gift Card will be.
To help with recruitment, Fortune Affiliates' marketing department has designed an irresistible Vault of Mystery player acquisition promotion, which will be running on Vegas Palms Online Casino during the month of July.
Vault of Mystery Promotion banners will be available in the Media Management system of the Fortune Affiliates website soon.
Here's how it works:
All new players will be given the chance to pick one of three boxes in order to receive a generous No Deposit Mystery Bonus
They'll also qualify for the standard Vegas Palms welcome offer: A 200% Deposit Match Bonus of up to $100 on their first deposit
To further entice them to purchase, they'll be informed about Fortune Lounge's incredible Vault of Mystery competition. As soon as they make a deposit, they'll be sent invitations to take part in this exclusive competition, which boasts over 100,000 casino credits in prizes. Thus, this unique acquisition promotion not only aims to recruit new players, but also to convert them into purchasing, wagering players. As a result, it will help affiliates to win big in our Christmas in July competition and rocket their conversion percentages sky-high.
So, trade pine trees for palm trees and come celebrate Christmas in July.
Follow this link to enter now: http://www.vegaspalm.com/XmasJuly
Fortune Lounge is home to some of the most established and largest online casinos and poker rooms in the gambling industry. They have achieved their legendary status by offering a superior online gambling experience, coupled with a commitment to ethical behavior, dedicated player service and operational excellence. As the winner of "Top Casino Group for 2005" (in the Gambling Online Magazine Readers Poll Awards) Fortune Lounge confirmed their position as leaders in the online gaming industry. Their dedicated 24/7 support team has been hailed as one of the best in the business and all Fortune Lounge casinos are accredited by eCogra and the Kahnawake commission, guaranteeing the highest level of quality and integrity. Exciting, visually enticing online casino games are introduced on a monthly basis, ensuring that Fortune Lounge is the better place to play.
This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com.
SOURCE Fortune Lounge Group
http://www.fortuneaffiliates.com
Copyright (C) 2008 PR Newswire. All rights reserved
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