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Friday, June 05, 2009
PFSweb Announces Results of 2009 Annual Meeting of Stockholders
Comtex
PLANO, Texas, Jun 05, 2009 (BUSINESS WIRE) ----PFSweb, Inc. (Nasdaq: PFSW), an international business process outsourcing provider of end-to-end eCommerce solutions, today announced that all corporate proposals were approved at the Company's 2009 Annual Meeting of Stockholders held on June 5, 2009.
At the meeting, stockholders approved the election of two Class I directors, ratified the appointment of Grant Thornton LLP as the Company's independent auditors for the fiscal year ending December 31, 2009 and approved the reduction of the number of authorized shares of Common Stock from 75 million shares to 35 million shares. Stockholders also approved amendments to PFSweb's 2005 Employee Stock and Incentive Plan to increase the number of shares of Common Stock issuable by 1.2 million shares and to modify the Non-Employee Director Stock Option and Retainer Plan to increase the number of shares of Common Stock issuable by 45,000 shares.
About PFSweb Inc.
PFSweb develops and deploys integrated business infrastructure solutions and fulfillment services for Fortune 1000, Global 2000 and brand name companies, including third party logistics, call center support and e-commerce services. The company serves a multitude of industries and company types, including such clients as AAFES, LEGO, Riverbed, International Business Machines, Hawker Beechcraft Corp., Rene Furterer USA, Roots Canada Ltd. and Xerox.
Through its wholly owned eCOST.com subsidiary, PFSweb also serves as a leading multi-category online discount retailer of high-quality new, "close-out" and manufacturer recertified brand-name merchandise for consumers and small to medium size business buyers. The eCOST.com brand markets approximately 240,000 different products from leading manufacturers such as Sony, JVC, Canon, Hewlett-Packard, Garmin, Panasonic, Toshiba, Microsoft, Sennheiser, Dyson and Denon primarily over the Internet and through direct marketing.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the company's websites at http://www.pfsweb.com and http://www.ecost.com.
SOURCE: PFSweb, Inc.
PFSweb, Inc. Laura Osborne, 972-881-2900 x3574 Corporate Communications Manager losborne@pfsweb.com or Investors: KCSA Strategic Communications Todd Fromer, 212-896-1215 tfromer@kcsa.com or Garth Russell, 212-896-1250 grussell@kcsa.com
Copyright Business Wire 2009
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Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.
