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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.
Home / Markets / Industries / Energy
Monday, May 05, 2008
Itronics to Sell GOLD'n GRO Guardian Deer Repellent in the West, Northeast, Midwest and South
Comtex
RENO, NV, May 05, 2008 (MARKET WIRE via COMTEX News Network) ----Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG) today reported that its wholly-owned subsidiary, Itronics Metallurgical, Inc., is in process of registering its one-of-a-kind GOLD'n GRO Guardian deer repellent and fertilizer for sales starting in June in:
Western U.S.: Nevada, Utah, and Colorado. Northeastern U.S.: Connecticut, Delaware, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, and Rhode Island. Midwest and South: Iowa and Alabama
"GOLD'n GRO Guardian Deer Repellent can be sold in states in which it is being registered and, in each of these states, deer do major damage annually. We plan to add additional states after we establish sales in the targeted states," said Dr. John Whitney, Itronics President. "We have had numerous requests from potential customers about the products availability. Deer damage in suburban America is in the $5 billion range, according to an internal, detailed Itronics study, making the potential for this product enormous."
Itronics Metallurgical will sell the unique product to Landscape Maintenance businesses that have licensed pesticide spray divisions and to other business that are licensed for spraying pesticides. Sales will also be made to plant and tree nurseries in the listed states and to other customers. The product does not harm the deer and fertilizes at the same time.
GOLD'n GRO Guardian Deer Repellent is registered for use on non-food crops, landscape plants, and non-bearing trees and vines. Some soybean seed and corn seed growers have expressed interest in testing the GOLD'n GRO Guardian Deer Repellent on seedlings to protect them from foraging deer, which do major economic damage. Itronics Metallurgical plans to evaluate these potential applications for commercial viability as it moves forward because these would be large acreage uses. GOLD'n GRO Guardian is a systemic product and the treatment lasts up to 3 months.
Itronics Metallurgical is planning to sell the GOLD'n GRO Guardian as a two-part package consisting of the repelling component and GOLD'n GRO 8-8-8 +4%S liquid fertilizer. Initially three sizes of spray kit will be offered, a 4 gallon kit, a 12 gallon kit, and a 600 gallon kit, making it convenient for potential customers to do evaluation and testing, followed by conversion to commercial applications.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental Technology" company. Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant in the United States that converts used photoliquids into pure silver and GOLD'n GRO liquid fertilizers. The Company also provides environmentally compatible mining technology development, project planning, and technical services to the gold mining industry and operates the popular InsideMetals.com web site, http://www.insidemetals.com. which provides a value-added WORLD VIEW of Gold and Mineral stocks. Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new environmentally compatible recycling and fertilizer technologies. The Company's environmentally friendly GOLD'n GRO liquid fertilizers is used for lawns and houseplants, and are available, along with liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com. The popular Silver Nevada Miner bars are available at the Company's "e-store" catalog at http://www.itromet.com.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
Contact: Paul Knopick 888-795-6336
SOURCE: Itronics Inc.
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