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The old IBM adage. First to market wins!!!!!!!!!!!!!!!!!!
Maybe not winner take all, but typically the largest of market share.
If this was easy, it would have been done by now, especially after 40 years of oil supply issues in the US.
I have stated many times on this board. I was looking for a company dealing in health care. The PR on Carter Care merger. But I do not watch stocks everyday and by the time I got back to this, it was frozen and couldn't get out. I am a long term investor, typically, and this was one of my first penny stock investments. Did the same thing with another penny stock and made good money. Thought the market was watching out for investors. Didn't realize DTCC would allow this to happen without proper oversight, and then take no responsibility for it. Got a big awakening about the market with this one. Got a big awakening about how the US representatives(ie. Grassley) do not care about the little people, while they allow themselves to get fat(wealthy) on insider trading info. The ones that are supposed to be protecting the small investor are the ones getting rich at the investors expense. Therefore, I have mixed opinions right now on occupy wall street. Hope this helps you refrain from making blanket statements on "all" for the future.
I agree with you Bobby. People on this board appear to assume too much. Pretty sickening, imo.
so who is responsible for sending the corporate action to the brokers, FINRA? Now for the real question, does the chill on 106 cusip transfer to the new cusip 205 automatically with the corporate action for cusip change?
who actually should be notified of the corporate action? I am thinking this should be done thru one source, wither FINRA or DTC, that notifies the brokers. I do not think sending a notification/PR to the brokers is sufficient to cause brokers to make the change. I could be wrong, though.
The Good News is that unto you a Saviour is born.
Have a Merry Christmas to all.
Remember: Wise men still seek Him as He is the reason for the seasons and He did not bail us.
From Turn2Him
Peace and goodwill toward men. May all have a Merry Christmas and a bright and hopeful New Year as we prepare for an new beginning for BCIT in 2012.
remember what ch stated - there is no lock by the DTC!
I had a head crash once, the repairman stuck the drive in the freezer for 15 minutes, and wala, I was able to extract the data off the hard disk. so I am propanate of a service provider for hard drive failure backups. much easier and cheaper than the Maytag service repairman.
sounds like Janice needs to invest in carbonite company service, $60 per year for back up.
I have written to them and the funny thing is they did respond, but they never answered any of my questions, especially the one I ask if they actually have proof they cleared my trade in May 2005, before the global lock.
Neither does the DTCC
In the beginning, ETrade was very cordial in their communication and I even was able to talk to one of their representatives.
However, they have not been very customer service oriented in the last few communications:
==================================================================
As previously indicated, the Firm will respond to your written correspondence regarding this matter via regular postal mail. It is the Firm's position that this matter warrants no further Secure Message correspondence, and any additional Secure Message correspondence regarding this matter will not receive a response.
Any future correspondence regarding this matter must be submitted in writing to the E*TRADE Compliance Department at the below address.
E*TRADE Compliance Department
Harborside Financial Center
501 Plaza 2, 5th Floor
Jersey City, NJ 07311
The beauty of America, they have a right to be wrong
Why are they asking you to do what they are should be able to do, go to the transfer agent themselves and request it on your behalf and then send them to you.
A contractual obligation that the broker's breached. This means, imo, each individual can take it to small claims court in order to have the brokers prove they did not breach the contract.
Which the response was used by Grassley to stop further investigation. Sounds like obstruction to me because of being untruthful in letter. The letter had impact on Grassley decision to stop SFC investigation.
Carlton:
Megas should have taken this team effort attitude approach 6 years ago. But, then was then, and this is now...
Not certain if that would have gotten BCIT closer to trading, but a lot of shareholders were offended by his attitude to 'fake' shareholders and non-communication approach. It is definitely easier to attract a swarm of bees with honey, just don't try to take the honey away from them. This is what the brokers have done and the bees are still swarming. Have you ever been attacked by 1500 bees at the same time?
It is time to make the brokers feel the pain!
Only when there is a full moon. And is she hairy!!!!
But not as hairy as what is going on with the brokers right now.
actually it is a dollar.
Maybe the Federal Reserve will bail them out like they did with the banks. I understand behind closed doors banks received $7 trillion from Fed thru below market interest rate loans.
As to mitigation pre-lock, the brokers still have to provide proof that they cleared the trades within 3 business days, correct? At this time, I do not believe they did, that is why imo that my broker continues to use the DTC global lock as distraction and does not answer my question if they have proof of the cleared trade. There should be an electronic generated confirmation number from the DTC that verifies the trade was cleared, correct? otherwise it ends up in the FTD file and the broker receives ftd notification in which they are to take action on and resolve with the company or TA.
I am talking about IHUB, not the web site. In ihub when you enter bcit, two entries now appear. one for the delisted bcit and now one with symbol BCIT for energy resources.
That is what I am talking about.
appears to have been added just about an hour ago.
The ihub link states energy resources. should this not be "Energy Source"?
HAPPY VETERAN'S DAY to all those who fought for the freedom's we have in the US.
Please take a moment of silence today for those that have fallen and are wounded.
A nice 2 inch steak medium done sounds pretty good about now. Maybe I will go to Outback.
Additional info on the global money grab by the DTCC.
http://www.goldandsilverexchange.info/DTCC-Set-Up.html
I do not necessarily agree with everything published here, but it is definitely worth the time to read. Other articles are interesting also, but do not necessarily agree with all content.
The more things change, the more they stay the same!
Maybe the brokers gave our money to congress to buy $15 muffins. That is probably why Grassley dropped his investigation. Hmmm, let's see, muffins for himself or helping US citizens resolve corruption in stock market?
I am convinced now more than ever they all need to be replaced in the next election, including Grassley. Clean house and senate and presidency and start all over with fresh blood that is not bought by the lobbyists.
I guess we need change we can believe in, cause Obama isn't the change we can believe in.
Janice:
I do not agree with you. I purchased in May 2005(way before the lock) looking for healthcare and Carter Care came up. Summers were busy for me back then and I just left it alone(as I planned to go long) and didn't follow it like I should.
yes. She responded once and I even talked with her on phone. Was told to file with FINRA. I initially started communications thru ETrade Customer Service, but since then the Compliance Department has stepped in and redirected communications regarding BCIT. I have sent certified letter to Compliance Department. Just waiting on return receipt to be sure they got letter.
I agree. Once the Occupy Wall Street gang gets news to justify their protesting, this has potential to go viral.
This could give them a legitimate case. They still need to Occupy White House though.
And of course, if the PR is not true (imo, Megas is too smart for that), then Megas has opened himself up for a slander law suit by the brokerages. That would make this more interesting and fun, just as CH stated. Let the fun begin. I sent a follow-up message to ETrade just to make sure ETrade is aware of the PR.
Just to let you know, FINRA is where ETrade told me to take my complaint, not CH.
Actually, the UBS customers picked up the bill. UBS just passed on the cost of doing business.
I know ETrade is aware of CH as I have talked with Courtney and she stated another customer had told her about CH. I did not mention CH at all to her in my inquiry,
Notice they said if they can't get them, then the client can go to the transfer agent. Wow, what a company.
Finally got a response from ETrade after 18 days of my letter to Courtney. However the response was from the compliance department. Getting my next letter ready per CH recommendation. This one will be with a little more emphasis on the request for certificates.
On the beach! Certainly you could find 100,000,000 grains of sand. Probably you can get that many in your shoes.
I am getting the sense that if we continue to stand together per CH, we may not have to go there if we can continue to mount the pressure upon the brokers. When this gets as expensive or more expensive for them to defend their actions than it is for them to continue the cover-up, they will relent and cooperate with BCIT shareholders and TM. As the last thing they want is for this to be exposed to the world thru the media.
Something tells me with the OWS protestors, this may be too late for the brokers. But the warning here is any interaction with the media should be done with organized plan and objective. That is the biggest complaint about the OWS protestors, it is not clear what they are protesting, as most are even too young to have had the experience with 401Ks as most on this board to deliver a cohesive message.
Wow, we can hold them personnally liable as well as the company? If so, I would think that should make the agents think twice before sending out another corporate lap dog response.