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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 / Media
Friday, June 20, 2008
Tinbu and PennySaverUSA.com Announce Alliance
Comtex
PENSACOLA, FL and RANCHO CORDOVA, CA, Jun 20, 2008 (MARKET WIRE via COMTEX) ----Tinbu, a leading provider of interactive data modules in a variety of in-demand categories, is pleased to announce its alliance with PennySaverUSA.com, one of the nation's leading online local advertising networks and a business of Harte-Hanks, Inc. (NYSE: HHS).
Tinbu's patent-pending technology is designed to enable seamless integration of interactive data modules and content into media Web sites -- thereby providing Web visitors with real-time information on a variety of topics of their choosing, from horoscopes and lottery results to local U.S. gas pump prices and weather forecasts anywhere globally. The interactive components of Tinbu's technology are used to drive multiple millions of engaging page views every month, along with increased site visitor satisfaction and length of visits, as well as revenue generation for leading online media groups.
"PennySaverUSA.com is a household name when it comes to online classifieds and local advertising content," said George Moore, Tinbu's marketing director. "Our alliance with PennySaverUSA.com will benefit both Tinbu and PennySaverUSA.com, along with the millions of people who visit PennySaverUSA.com each month."
Site visitors at PennySaverUSA.com, its companion site TheFlyer.com(TM), and their respective online affiliates now can interact with Tinbu's horoscope, global weather, U.S. gas prices, MPG analysis and lottery modules to access local, nationwide and global information which is updated daily.
"As our online community for local advertising content has grown, we seek to find new ways to engage our visitors and add value to the time they spend with us, and we are excited to bring this valuable Tinbu content to our customers as we continue to increase site traffic," said Loren Dalton, president of PennySaverUSA.com. "With features such as the local gas-price look-ups and weather information, our site visitors now will have less reason to travel elsewhere online for many popular day-to-day information needs. We anticipate Tinbu will help us keep our viewers online longer, interacting with more advertisers and more listings."
About Tinbu
Tinbu uses patent-pending technology to provide interactive data products to leading online and wireless companies worldwide. Tinbu's clients include AOL, AOL Latino, AOL Canada, AOL Mexico, Telemundo, MSN, MSN Espanol, MSNBC, USA TODAY, BellSouth, ATT, Media General, Clear Channel Television, NBC Television, CBS Television, ABC Television, Fox Television, CBS Radio, Boston Herald, Boston Globe, Tribune, Toronto Star, CBC New Media, My Red Fish, Local Solutions Networks, Motricity, uClick, St. Louis Post Dispatch, Hello Metro, New York Daily News, DirecTV, Univision, Terra Networks, Yahoo!, People PC, and many others.
About Harte-Hanks
Harte-Hanks is a worldwide direct and targeted marketing company that provides marketing services and shopper advertising opportunities to local, regional, national and international consumer and business-to-business marketers. Visit Harte-Hanks on the Web at http://www.harte-hanks.com.
PennySaverUSA.com, a publication of Harte-Hanks Shoppers, is a recognized leader in geographic and demographic targeted marketing solutions. With more than 1,000 unique community editions, PennySaverUSA.com and TheFlyer.com shoppers have circulation of approximately 13 million in California and Florida. PennySaverUSA.com and TheFlyer.com provide low-cost, efficient, and targeted marketing solutions utilizing a wide variety of products such as display ads, classified ads, and flyers, all delivered weekly via the U. S. Postal Service. Both PennySaverUSA.com and TheFlyer.com also are Web sites of Harte-Hanks Shoppers, and display all the ads published in all the print versions of the two publications, and is a leader in the aggregation of online classified ads from free community papers and shoppers across the country. Visit us online at http://www.pennysaverusa.com. PennySaverUSA.com's Rancho Cordova, CA, office may be reached at (916) 636-2200.
Media Contact: Dick Colvin PennySaverUSA.com (916) 636-2245 Email Contact
SOURCE: Harte-Hanks PennySaverUSA.com
http://www2.marketwire.com/mw/emailprcntct?id=651416EFDEB87A14
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