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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 / Technology
Thursday, June 12, 2008
Latest Grilling Craze Offers a Fun and Unique Twist That Won't Leave Dad 'Ale'ing
Comtex
CARLE PLACE, N.Y., June 12, 2008 /PRNewswire-FirstCall via COMTEX/ ----As summer kicks off and Dads nationwide fire up their grills for Father's Day and summertime festivities, the world's largest florist and leading multi-channel retailer, 1-800-FLOWERS.COM, Inc. (Nasdaq: FLWS), is bringing Beer Can Chicken to the forefront of the grilling scene.
It's no secret that burgers, steaks and hot dogs are typically hailed as the staples of the barbecue, but now more than ever, Americans are turning to poultry and fish for healthier and delicious alternatives on the grill. According to the National Chicken Council, chicken contains less fat than beef, zero carbohydrates and is a source of lean protein. Beer Can Chicken combines beer and the barbecue while offering a Father's Day meal that is more fun and unique than traditional grilling fare.
Developed by top chef and "Professor of Barbecue" Steven Raichlen, the process for cooking beer-infused chicken recipe ensures that the chicken retains its moisture while absorbing maximum taste. The highly visual technique used when making Beer Can Chicken calls for an entire chicken to sit vertically atop an open beer can. This process drains the fat while crisping the skin on the outside and flavoring the chicken on the inside. The beer provides a natural flavor to the meat, making it unnecessary to add any sort of barbecue sauce or rub and offering a healthier alternative for those watching their waistlines.
According to a recent objective by the Weber GrillWatch Survey, 31 percent of American grill owners are grilling more this year than years previous. One-third of survey respondents admitted that they have begun grilling leaner meats, such as poultry, and meat substitutes, because they are "trying to eat healthier." Additionally, Americans are grilling more frequently, with 71 percent of Americans grilling at least once a week during the grilling season (up from 69 percent last year) and 47 percent grilling a few times per week.
In keeping with this new grilling trend, 1-800-FLOWERS.COM(R) is featuring barbecue baskets from Steven Raichlen including a "Beer Can Chicken Basket" ($99.99 - $124.99) and "The Steven Raichlen Ultimate Barbecue Basket" ($79.99 - $99.99).
"We're in the business of gift-giving, and with more than 30 years of experience, our customers rely on us to stay ahead of the curve, bringing them the gifts and products that tie in with the latest cultural trends," said Jim McCann, CEO and founder of 1-800-FLOWERS.COM. "With healthy grilling becoming increasingly popular, Beer Can Chicken is a fun and timely gift that will help create great family memories."
To ensure that Dad gets his gift in time for Father's Day, same-day and next-day deliveries are available at 1-800-FLOWERS.COM.
About 1-800-FLOWERS.COM
1-800-FLOWERS.COM, Inc. is the world's leading florist and a provider of specialty gifts for all occasions. For more than 30 years, 1-800-FLOWERS.COM, Inc. has been providing customers with fresh flowers and the finest selection of plants, gift baskets, gourmet foods, confections and plush stuffed animals perfect for every occasion. 1-800-FLOWERS(R) (1-800-356-9377 or www.1800flowers.com), named one of the top 50 online retailers by Internet Retailer and the recipient of ICMI's 2006 Global Call Center of the Year Award, offers the best of both worlds: exquisite, florist-designed arrangements individually created by some of the nation's top floral artists and hand-delivered the same day, and spectacular flowers shipped overnight from our "Fresh From Our Growers(R)" collection. As always, 100% satisfaction and freshness are guaranteed.
The 1-800-FLOWERS.COM, Inc. collection of brands also includes Gourmet Gifts such as popcorn and specialty treats from The Popcorn Factory(R) (1-800-541-2676 or www.thepopcornfactory.com); exceptional cookies and baked gifts from Cheryl&Co.(R) (1-800-443-8124 or www.cherylandco.com); premium chocolates and confections from Fannie May(R) confections brands (www.fanniemay.com and www.harrylondon.com); gourmet foods from Greatfood.com(R) (www.greatfood.com); wine gifts from Ambrosia(R) (www.ambrosia.com); gift baskets from 1-800-BASKETS.COM(R) (www.1800baskets.com) as well as Home DA(C)cor from Plow & Hearth(R) (1-800-627-1712 or www.plowandhearth.com), Problem Solvers(R) (www.problemsolvers.com), Wind & Weather(R) (www.windandweather.com), and Children's Gifts from HearthSong(R) (www.hearthsong.com) and Magic Cabin(R) (www.magiccabin.com); and the BloomNet(R) international floral wire service, which provides quality products and diverse services to a select network of florists. 1-800-FLOWERS.COM, Inc. stock is traded on the NASDAQ Global Select Market under ticker symbol FLWS.
SOURCE 1-800-FLOWERS.COM
http://www.1-800-FLOWERS.com
Copyright (C) 2008 PR Newswire. All rights reserved
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