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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
Dog Fancy(R) Magazine Suggests 10 Ways To Go Green With Your Dog
Comtex
IRVINE, Calif., July 1, 2008 /PRNewswire via COMTEX/ ----Dog Fancy, the world's most widely read dog magazine, offers dog owners 10 easy suggestions to live a more environmentally friendly lifestyle with their dog in their August 2008 issue.
"So many people are concerned about humanity's impact on the environment that they're starting to make serious changes in their own lives," said Dog Fancy Editor Susan Chaney. "It only makes sense that those same people want their dogs to damage the Earth less, too."
Eco-friendly ways dog owners can help shrink their dog's carbon paw print include:
-- Make organic food choices. Feed your canine companion an all-natural diet, such as raw vegetables, fruit and natural foods that limit the use of additives and processed fillers.
-- Use natural household cleaners. Help decrease dog poisoning in the home by reducing your dog's exposure to harmful chemicals. Opt for eco-conscious cleaning products options such as oil, baking soda and white vinegar.
-- Beware of pesticides. Choose less toxic, organic versions made from plant oils and naturally occurring fungus.
-- Select natural fabrics for the home. Pick naturally antimicrobial, easy-to-clean, durable materials, such as hemp, for sofa covers and dog beds.
-- Recycle everyday items into dog toys. Because organic toys tend to cost more, consider using items you already own, such as old cotton T-shirts, to make into tug toys.
The complete article on going green with your dog, titled "10 Steps To A Greener Home," is part of Dog Fancy's first-ever Natural Dog(R) "flip" issue, with approximately 47 pages dedicated to holistic treatments, natural foods and alternative therapies. To learn more, pick up the August issue of Dog Fancy, on newsstands now.
To schedule an interview with the editor, contact Lisa MacDonald, director of marketing, at 949-855-8822, ext. 3345.
About BowTie, Inc.
BowTie, Inc. is the leader in special interest pet magazines, trade magazines, books and websites dedicated to pet-loving consumers, pet-supply retailers, veterinarians, breeders and pet professionals worldwide. Divisions of BowTie, Inc. include BowTie Magazines, BowTie Press, BowTie News, Thoroughbred Times Company, Global Distribution Services and http://www.AnimalNetwork.com.
SOURCE Dog Fancy
http://www.animalnetwork.com
Copyright (C) 2008 PR Newswire. All rights reserved
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