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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 / Retail
Thursday, July 03, 2008
Northwest Airlines Reports June Traffic
Comtex
EAGAN, Minn., Jul 03, 2008 (BUSINESS WIRE) ----Northwest Airlines (NYSE: NWA) today announced a June consolidated (mainline and regional) load factor of 86.8 percent, 1.2 points below June 2007. Northwest reported a mainline load factor of 87.7 percent, 0.9 points below June 2007.
In June 2008, Northwest and Northwest Airlink regional carriers flew 7.3 billion consolidated revenue passenger miles (RPMs) and 8.4 billion consolidated available seat miles (ASMs), a traffic increase of 4.4 percent and a capacity increase of 5.9 percent versus June 2007.
Northwest flew 6.6 billion mainline revenue passenger miles and 7.5 billion mainline available seat miles in June 2008, a traffic increase of 1.4 percent and a capacity increase of 2.4 percent versus June 2007.
NORTHWEST AIRLINES TRAFFIC SUMMARY June 2008 June 2007 Change Revenue Passenger Miles (000s): Domestic 3,553,984 3,729,237 (4.7)% International 3,005,229 2,741,630 9.6% Pacific 1,698,522 1,702,718 (0.2)% Atlantic 1,306,707 1,038,912 25.8% System (Mainline) 6,559,213 6,470,867 1.4% Regional 705,149 485,860 45.1% Consolidated 7,264,362 6,956,727 4.4% Available Seat Miles (000s): Domestic 4,086,802 4,240,221 (3.6)% International 3,391,613 3,060,375 10.8% Pacific 1,910,401 1,916,399 (0.3)% Atlantic 1,481,212 1,143,976 29.5% System (Mainline) 7,478,415 7,300,596 2.4% Regional 887,698 600,598 47.8% Consolidated 8,366,113 7,901,194 5.9% Load Factor: Domestic 87.0% 87.9% (0.9) pts International 88.6% 89.6% (1.0) pts Pacific 88.9% 88.8% 0.1 pts Atlantic 88.2% 90.8% (2.6) pts System (Mainline) 87.7% 88.6% (0.9) pts Regional 79.4% 80.9% (1.5) pts Consolidated 86.8% 88.0% (1.2) pts Enplaned Passengers: System (Mainline) 4,554,873 4,769,668 (4.5)% Regional 1,470,642 1,135,531 29.5% Consolidated 6,025,515 5,905,199 2.0%
2Q 2008 2Q 2007 Change Revenue Passenger Miles (000s): Domestic 10,282,550 10,931,374 (5.9)% International 8,556,119 7,880,038 8.6% Pacific 4,981,553 4,950,925 0.6% Atlantic 3,574,566 2,929,113 22.0% System (Mainline) 18,838,669 18,811,412 0.1% Regional 2,015,059 1,382,352 45.8% Consolidated 20,853,728 20,193,764 3.3% Available Seat Miles (000s): Domestic 11,924,314 12,784,622 (6.7)% International 9,988,988 9,111,973 9.6% Pacific 5,742,366 5,797,315 (0.9)% Atlantic 4,246,622 3,314,658 28.1% System (Mainline) 21,913,302 21,896,595 0.1% Regional 2,594,530 1,763,214 47.1% Consolidated 24,507,832 23,659,809 3.6% Load Factor: Domestic 86.2% 85.5% 0.7 pts International 85.7% 86.5% (0.8) pts Pacific 86.8% 85.4% 1.4 pts Atlantic 84.2% 88.4% (4.2) pts System (Mainline) 86.0% 85.9% 0.1 pts Regional 77.7% 78.4% (0.7) pts Consolidated 85.1% 85.4% (0.3) pts Enplaned Passengers: System (Mainline) 13,260,509 14,117,393 (6.1)% Regional 4,191,765 3,258,752 28.6% Consolidated 17,452,274 17,376,145 0.4%
YTD-08 YTD-07 Change Revenue Passenger Miles (000s): Domestic 20,364,494 21,072,726 (3.4)% International 16,094,709 15,230,306 5.7% Pacific 9,843,262 9,896,699 (0.5)% Atlantic 6,251,447 5,333,607 17.2% System (Mainline) 36,459,203 36,303,032 0.4% Regional 3,612,383 2,510,670 43.9% Consolidated 40,071,586 38,813,702 3.2% Available Seat Miles (000s): Domestic 24,061,919 25,371,383 (5.2)% International 18,995,768 17,776,909 6.9% Pacific 11,335,608 11,530,789 (1.7)% Atlantic 7,660,160 6,246,120 22.6% System (Mainline) 43,057,687 43,148,292 (0.2)% Regional 4,799,662 3,407,435 40.9% Consolidated 47,857,349 46,555,727 2.8% Load Factor: Domestic 84.6% 83.1% 1.5 pts International 84.7% 85.7% (1.0) pts Pacific 86.8% 85.8% 1.0 pts Atlantic 81.6% 85.4% (3.8) pts System (Mainline) 84.7% 84.1% 0.6 pts Regional 75.3% 73.7% 1.6 pts Consolidated 83.7% 83.4% 0.3 pts Enplaned Passengers: System (Mainline) 25,567,016 26,993,347 (5.3)% Regional 7,759,642 5,979,743 29.8% Consolidated 33,326,658 32,973,090 1.1%
Northwest Airlines is one of the world's largest airlines with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam. Northwest, with its regional partners, operates approximately 2,400 daily departures. Northwest is a member of SkyTeam, an airline alliance that offers customers one of the world's most extensive global networks. Northwest and its travel partners serve more than 1,000 cities in excess of 160 countries on six continents.
SOURCE: Northwest Airlines
Northwest Airlines
Copyright Business Wire 2008
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