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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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Tuesday, July 01, 2008
Hyatt Regency Atlanta and STATS Partner Together to Offer All-Inclusive Baseball Package
Comtex
ATLANTA, July 1, 2008 /PRNewswire via COMTEX/ ----Hyatt Regency Atlanta and STATS have partnered together to offer the STATS Triple Play Package. Targeted at baseball fans looking for an all-inclusive experience, the package includes luxurious hotel accommodations, two Braves tickets, pre-game meal at STATS, and transportation to and from Turner Field via STATS Foodplay Shuttle. The STATS Triple Play Package begins at $159 per night. Additional passes with only one Braves ticket and without the hotel room can be purchased for $50.
"Taking in a baseball game is the classic summertime experience. This is the perfect package for a baseball getaway without having to plan every detail," said Joe Hindsley, General Manager, Hyatt Regency Atlanta.
The STATS Triple Play Package allows guests to purchase an entire baseball get-away weekend in one place. The package begins at STATS where guests will dine from a prix-fixe menu full of STATS favorites before the game. From there, the STATS FoodPlay Shuttle, stocked with beer and non-alcoholic beverages, heads to Turner Field and drops fans off 30 minutes before first pitch. Fans will enjoy the game from seats located on the private-access Golden Moon Casino Level, formerly known as the Lexus Level. If a fan chooses to leave early, the first shuttle departs from Turner Field to STATS after the 5th inning. A second shuttle will leave 15 minutes after the game. Once back at STATS, fans can choose to relax and enjoy Atlanta's hottest sports-themed restaurant or head back to Hyatt Regency Atlanta where a signature Hyatt Grand Bed(TM) awaits them.
STATS is one of Atlanta's hippest new restaurants and has gained notoriety as the only restaurant in the United States to feature Table Tap technology, allowing diners to pour their own beer right at the table. As part of the same restaurant group that dazzled the Atlanta dining scene with One Midtown Kitchen, Two Urban Licks and Trois, STATS has a commitment to excellence when it comes to food. The menu features modern twists on classic American fare such as barbecue candy cane pork ribs and crab cake BLT's. With scores of flat screen televisions accenting the renovated-warehouse space, STATS allows fans to catch all the action from every seat in the house.
For reservations or for more information about the STATS Triple Play Package, visit www.hyattregencyatlanta.com or call (404) 577-1234.
About Hyatt Regency Atlanta
An Atlanta landmark since its inception in 1967, Hyatt Regency Atlanta is located in the heart of downtown Atlanta on Peachtree Street. The 1,260-room hotel is the first contemporary atrium hotel in the world and is one of the nation's premier convention and tradeshow facilities with 180,000 square feet of ballroom, exhibit, and meeting and hospitality space. For reservations or more information on Hyatt Regency Atlanta, call the hotel at 404-577-1234 or visit www.hyattregencyatlanta.com .
SOURCE Hyatt Regency Atlanta
http://www.hyatthotels.com
Copyright (C) 2008 PR Newswire. All rights reserved
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