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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.
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Wednesday, July 09, 2008
e-Dialog Clients Win Creative Excellence Awards from New England Direct Marketing Association
Comtex
LEXINGTON, Mass., Jul 09, 2008 (BUSINESS WIRE) ----e-Dialog today announced that three of its clients have been recognized by the New England Direct Marketing Association (NEDMA) for creative excellence in direct marketing. Awards were presented at a ceremony held in Boston on Wednesday, June 11.
The NEDMA awards honor direct marketing excellence in categories that include electronic media such as e-mail and banner ads, print, direct mail, broadcast, catalog, and integrated multimedia campaigns. Awards are given based on a combination of factors, including results and the excellence of the marketing solution.
M/C Communications, a leading provider of medical education and event management solutions for healthcare professionals, earned two gold awards and one silver award. All three wins were in support of M/C Communications' e-mail marketing messages for Pri-Med(R), a provider of continuing medical education for doctors and other medical clinicians. The first gold award was presented in the E-mail (B-to-B) category for the Updates in Pharmacy event, and the second gold award-winning entry was in the E-mail Campaign (Consumer or B-to-B) category for Pri-Med Online CME promotion. The silver award was earned in the Integrated Media (B-to-B Lead/Order Generation) category for the Updates in Cardiology event in Los Angeles.
Avis Budget Group, parent company of Avis Rent A Car, received the silver award in the E-mail Campaign (Consumer or B-to-B) category for their Avis First(TM) customer loyalty program messaging. Avis First gives members increased opportunities for free upgrades and weekend rentals, and first access to promotions, products and services. Customers manage their accounts online and receive rewards via e-mail, giving them direct, real-time access to their exclusive member benefits.
"We are pleased to receive this award recognizing the e-mail marketing we do to support our loyalty program," said Becky Alseth, senior vice president of marketing for Avis Budget Group. "Avis First members appreciate the convenience that comes with accessing their accounts online and receiving rewards and program information more quickly via e-mail. e-Dialog has been our strategic partner at each step in helping develop the communications that support our Avis First program, including design, data management and execution for the triggered reward e-mails."
Nintendo of America Inc. received the silver award in the E-mail (Consumer) category for its redesigned Nintendo DS Handheld Newsletter. With the Nintendo DS handheld game system's success in expanding the audience beyond the core gamer demographic, Nintendo revamped its e-mail newsletter in order to present more relevant content to recipients.
"It's an honor to have our clients recognized as NEDMA award winners," noted Arthur Sweetser, e-Dialog's chief marketing officer. "We already know that our clients are leaders in e-mail marketing, but it's great to get validation from their peers at NEDMA."
About e-Dialog
Established in 1997, e-Dialog is a proven provider of intelligent e-mail marketing solutions. Through a unique combination of strategic services and relevance enabling technologies, e-Dialog empowers marketers to take meaningful action on their data in order to deliver contextually targeted communications to customers. Some of the world's most recognized brands, including American Eagle Outfitters, Avis, Boots, BMG Music Service, British Airways, CBS, Hewlett Packard EMEA, Nintendo, the NFL, Reuters, the Royal Bank of Scotland group of companies, and The TJX Companies, have partnered with e-Dialog to enhance their permission-based e-mail marketing efforts and maximize long-term customer value.
e-Dialog was named a leader in the December 2007 Forrester Wave: Email Marketing Service Providers, Q4 2007, and for the third consecutive year received top placement among service-oriented ESPs from JupiterResearch. In September 2006, e-Dialog was the first e-mail service provider to achieve certification for ISO 27001:2005, the global information security standard. e-Dialog, with offices in Boston, London, New York, and Seattle, is a wholly owned subsidiary of GSI Commerce Inc. (Nasdaq: GSIC).
For more information, visit www.e-dialog.com or contact Arthur Sweetser at 781-372-3353 or Peter Duffy at +44 (0) 20 7659 2716.
SOURCE: e-Dialog
e-Dialog Jean Borgman, 508-451-5944 jborgman@e-dialog.com
Copyright Business Wire 2008
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