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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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Monday, June 23, 2008
The United States Army Medical Department Announces the Launch of an Innovative New Programming Series Called 'The Strength to Heal' That Will Run on ReachMD XM 157 - The Channel for Medical Professionals on XM Radio.
Comtex
CHICAGO, June 23, 2008 /PRNewswire via COMTEX/ ----ReachMD XM 157 on XM Satellite Radio and The United States Army Medical Department (AMEDD), today announced the launch of a new 13 week programming series designed to highlight military medicine from across the globe, covering clinical trauma, internal medicine, medical education and much more.
This fascinating series is designed to inform and educate medical professionals and those interested in a career in medicine to better understand the broad benefits of medical service career in the US Army including the highest quality medical education and innovation from around the world.
Col. Rafael C. Montagno, Medical Recruiting Brigade commander, Fort Knox, Kentucky said, "Army medicine is extremely diverse and our medical professionals are focused on many disciplines. By sharing their experiences, we hope to create a better understanding of the complexity of the Army health care system."
Gary Epstein, CEO of ReachMD said, "ReachMD is proud to work with the United States Army and pleased to broadcast this very look at leading edge medicine in a special series focused on the US Army Medical Department. The programming not only makes for compelling radio but also helps those interested in a career in the service gaining better insight and understanding about the work done by some of our nation's most dedicated medical professionals."
Former Colonel Dr. John Armstrong will host this new series entitled "The Strength to Heal." Dr. Armstrong has a distinguished military background and offers listeners first-hand insight into the role and service military medical professionals bring to the medical community around the world.
Dr. John Armstrong is a former Colonel with the United States Army. He is a surgical educator and trauma surgeon who served in the US Army Medical Corps for 17 years, rising to the rank of Colonel and serving as the Director of the US Army Trauma Training Center in Miami, Florida. Dr. Armstrong is the current Attending Surgeon at the University of Florida College of Medicine, Shands Hospital.
ReachMD and The United States Army Medical Department (AMEDD), together launch this groundbreaking series, which showcases the skills, experiences, and knowledge acquired by serving as a medical professional in the United States Army. In addition, the series will also highlight topics that include traumatic brain injury, management of sever extremity trauma, lessons from war, preventative medicine and medical education in the military.
The series will begin airing June 30th, 2008 at 11:30am Eastern Standard Time on ReachMD XM 157 at and online @ http://www.reachmd.com/army. For additional information on programming and guests, please visit http://www.reachmd.com/army.
About the Army Medical Department (AMEDD)
From nurses and entomologists to veterinarians, dietitians and physicians, Army Health Care offers more than 90 professional health care career paths -- more than any other military service.
Army Health Care annually employs more than 73,400 active-duty professionals and 72,000 Reserve Soldiers who interact with more than 200,000 patients in an average day. The Army's Health Care system is an $8 billion per year venture, employing 145,000 people and managing the care of three million beneficiaries. The active Army Medical Team is augmented by a Reserve Component, comprised of health care professionals in Reserve units throughout the United States and abroad.
One of the largest health care networks in the world, AMEDD operates more than 600 world-renowned hospitals, clinics and facilities around the globe. AMEDD encompasses six corps: Dental, Medical, Medical Service, Medical Specialist, Nurse and Veterinary.
For more information about serving as a healthcare professional in the United States Army visit http://www.goarmy.com/amedd
About ReachMD
Headquartered in Chicago, Illinois, ReachMD is a leading provider of advanced healthcare information and education for medical professionals. The company's proprietary technology uses emerging media channels to allow busy professionals to hear the latest in specific healthcare issues in the most convenient ways.
ReachMD's multi-channel platform includes XM satellite radio channel 157 and online programming that can be accessed through any XM radio, digital media device or personal computer. ReachMD's original programming includes interviews with world-renowned physicians covering professional topics within clinical medicine, treatment, research, executive management, government policies, technology and global health issues, among others. Strategic partners include the American Medical Association; American College of Cardiology; American Gastroenterology Association; American College of Allergy, Asthma and Immunology; National Lipid Association, American Retina Foundation and University of Pennsylvania.
To access ReachMD's original programming, visit ReachMD at http://www.reachmd.com or XM Channel 157.
SOURCE ReachMD XM 157
http://www.reachmd.com
Copyright (C) 2008 PR Newswire. All rights reserved
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