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 / Technology
Tuesday, July 22, 2008
Gproxy Design Hits New Milestone: 250 Custom Tailored NetSuite E-Commerce Stores
Comtex
MIAMI, Jul 22, 2008 (BUSINESS WIRE) ----Gproxy Design, Inc., a leading service provider of quality web design, custom built applications and e-commerce consulting, today announced that during the fifth year of its successful business relationship with NetSuite Inc., it has created over 250 custom tailored NetSuite-powered E-commerce stores. Gproxy Design has become well known for managing unique, technical requests associated with NetSuite customers' e-commerce businesses and their specific industry verticals. For examples of Gproxy Design's tailored e-commerce work, visit: www.gproxy.com/port-ecommerce.php.
Gproxy Design is unique because it interprets the desires of its clients' targeted shoppers and transforms that into user-friendly, ROI-oriented and quality-designed e-commerce sites. Well recognized in the virtual world, Gproxy has emerged from simply a web design company into a total e-commerce solution provider. With more than 250 e-commerce stores under its belt - tailored with designers' craft work, developers' integration knowledge, high-end maintenance service, and Gproxy Design's reliability - have positioned the company as a key NetSuite partner for E-commerce.
"We are proud of what we've done, but we don't plan to stop here - we are aiming for another 250 e-commerce sites," said Gproxy Design's Sales Manager Mr. Gerardo Pico. "We expect that our high number of satisfied customers will only keep on growing."
In addition, today Gproxy Design announced its "Custom E-Commerce Store 2008 For NetSuite," its newest e-commerce solution product. Designed for NetSuite start up clients, the new product will be sold at a promotional price of $5,000. This product is aimed at small businesses looking for a quick, professional, quality-looking website, but who may not have the budget for a hand-tailored website. With this newest solution, Gproxy Design lets clients choose from pre-defined layouts and design within these layouts to take advantage of NetSuite's E-commerce functionality.
Gproxy Design's success is based on three key points:
-- Reliability - Over 250 NetSuite-powered E-commerce sites demonstrate that Gproxy is among the most reliable E-commerce solution providers for the NetSuite platform. Its staff of designers, programmers, project managers, consultants and sales team are trained on the NetSuite platform and hold extensive experience in the industry for the award-winning NetSuite E-commerce solution. Gproxy Design works directly with NetSuite's top engineers, managers and E-commerce experts to transfer its knowledge into its clients' hands.
-- Experience - Gproxy Design's staff of 25 professionals, in addition to its five years of growth with the NetSuite E-commerce platform, gives them the experience behind more than 250 NetSuite custom E-commerce sites. These sites encompass the whole range of customer budgets, necessities, trends and functionalities. This gives clients a web store according to their requirements while planning for the future. Gproxy Design experts continue to develop high-usability and search-friendly websites.
-- Quality - Gproxy Design's staff affirms that its work has the dedication, quality and professionalism that clients deserve. Obtaining the highest quality product with the uniqueness of including rich media, trendy functionalities, top designs, SEO-friendly pages, complete integration with NetSuite, and high-usability standards is a top priority. Knowing that its biggest asset is the client, Gproxy Design's staff, starting from sales and ending in their maintenance department, are trained in quality customer support.
Gproxy Design keeps processes simple and knows that communication is the key. At Gproxy Design, work is structured and disciplined in order to meet and exceed the client's expectations by the application of four simple steps: 1) Strategy Development - which defines a solution to every specific case. 2) Interpretation of clients needs - to establish a unique creative direction. 3) Implementation into NetSuite of production and developments - in order to deliver the solution. 4) Plan ahead for the next round of solutions - based on the evolving needs of the client and its customers.
"Gproxy Design commits to an end-to-end project implementation to satisfy each customer's unique requirements," said Gproxy Design CEO Mr. Mario Colla. "Our commitment is to provide hard-working professionals focused on achieving complete success of a client's web site project. In addition, we are committed to post-implementation support of each client's project and staff those efforts with experienced maintenance staff. We can proudly say that their knowledge of design and programming enables them to maintain over 250 e-commerce sites from different points of the globe. At Gproxy Design clients are never forgotten and continuously kept up-to-date on new features, products and services that Gproxy Design and NetSuite have to offer. These past four years are just the beginning to what Gproxy Design believes to be a lasting, strong, reliant partnership with NetSuite. So let there be more successful years to come."
About Gproxy Design
Gproxy Design Inc. (http://www.gproxy.com) is a Miami-based business and service provider of top notch quality Web design, E-Commerce functionalities as custom-built applications and E-commerce solutions for businesses around the globe. Gproxy Design is a customer and service oriented business that looks forward to creating long lasting relationships with customers. Gproxy Design specializes in NetSuite web design, programming, maintenance and consulting - offering NetSuite users the opportunity to have a fully customized and professional looking website.
SOURCE: Gproxy Design, Inc.
Gproxy Design, Inc., Miami Gerardo Pico, 1-800-814-4761 gpico@gproxy.com
Copyright Business Wire 2008
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
