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 / Markets / Industries / Retail
Thursday, June 19, 2008
Heelys(R) Rolls Out First-Ever Video Skate Contest
Comtex
DALLAS, Jun 19, 2008 (BUSINESS WIRE) ----Heelys, Inc. (NASDAQ: HLYS), the youth sports lifestyle company, is launching its first-ever video competition for amateur skaters on June 21, in conjunction with Go Skateboarding Day.
A wheeled sport originated by Heelys footwear featuring an athletic shoe with a removable wheel in the heel has become a favorite past-time for teens and kids ages 6 - 12. Skating videos that showcase skill and athleticism are already gaining momentum in a variety of social media. To continue the excitement of this lifestyle sport and its place in the viral community, Heelys has decided to launch the video contest to expose some of the best skaters in the United States.
"Heelys wants to continue to foster a competitive spirit and encourage physical activity among America's youth," said Don Carroll, president and CEO of Heelys. "Launching a video contest that is based on physical skill is just another way we can promote fitness and help kids get off the couch and get creative while having fun and exercising."
Beginning July 15 through July 31, contestants can upload a one to four minute video that showcases their skills and love of skating to www.heelys.com/Video_contest.html. Heelys will be seeking videos with the best trick combinations. To see a list of all the Heelys tricks and watch instructional videos, contestants can visit http://www.heelys.com/tricktionary-categories.aspx. Judging will be based on suitability, skill level, music and editing. Suitability guidelines include a demonstration of safe skating and a theme appropriate to the contest that is compliant with competition rules. Contestants' skill level including tricks performed and style will be considered. Musical timing and video editing will also be points of evaluation.
The contest will award one grand prize winner followed by several first and second place prize packages on August 15. The grand prize winner will receive two pairs of professional Torch Grind Shoes, two sets of safety gear, two helmets, two Heelys Team shirts and one grind rail. For first place, the winners will receive one pair of professional Torch Grind Shoes, one set of safety gear, one helmet and a Heelys team shirt. Second place winners will receive a Heelys team shirt.
For additional details, visit www.heelys.com/Video_contest.html.
About Heelys, Inc.
(NASDAQ: HLYS) Heelys, Inc. designs, markets and distributes innovative, action sports-inspired products under the HEELYS(R) brand targeted to the youth market. The company's primary product, HEELYS-wheeled footwear, is the patented dual-purpose footwear that incorporates a stealth, removable wheel in the heel. HEELYS-wheeled footwear allows the user to seamlessly transition from walking or running to skating by shifting weight to the heel. Users can transform HEELYS-wheeled footwear into street footwear by removing the wheel and inserting a heel plug into the shoe cavity. HEELYS-wheeled footwear provides users with a unique combination of fun and style that differentiates it from other footwear and wheeled sports products.
SOURCE: Heelys, Inc.
Edelman Public Relations Tiffany Yeager, 214-443-8804 tiffany.yeager@edelman.com or Christina Voss, 214-443-7574 christina.voss@edelman.com
Copyright Business Wire 2008 ********************************************************************** As of Sunday, 06-15-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-12-2007 for HLYS @ $28.72. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
