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NYSE unveils reform blueprint
By Vincent Boland in New York
Published: November 7 2003 18:03 / Last Updated: November 7 2003 18:03
The New York Stock Exchange yesterday unveiled wide-ranging reforms of its corporate governance in a bid to restore its reputation following the furore over the pay of Richard Grasso, its former chairman.
The proposals by John Reed, Mr Grasso's interim successor, would involve separating regulation and day-to-day operations but keeping its structure intact.
Critics said the reforms, which include a board of eight directors independent of Wall Street, did not go far enough to address structural and ownership weaknesses that led to the recent corporate governance failures.
Sean Harrigan, president of Calpers, the Californian pension fund, said the "woefully inadequate" reforms would do little to restore investor confidence.
Mr Reed named the eight directors to replace the 27-member board that gave a lavish pay package to Mr Grasso, who had appointed most of them. Mr Reed said the eight nominees were "a distinguished group" independent of the securities industry.
"This is a significant change as far as we are concerned. For the first time in its history the NYSE will have a truly independent board of directors," Mr Reed said.
The new board will have responsibility for compensation and the controversial issue of market regulation. This is the focus of scrutiny because of investigations into allegations of improper activity by the "specialist" firms that manage stock trading on the NYSE floor.
It will also appoint an executive board - comprising members, brokers and investors - to oversee day-to-day operations.
Corporate governance experts were cautious about the dual structure because it is rare at US companies. Espen Eckbo, at the Tuck School of Business at Dartmouth College, said: "The independent board will have to stamp its authority from the outset. If it doesn't, the executive board will run the show and the NYSE will be back to where it was."
The eight nominees are Madeleine Albright, former secretary of state; Herbert Allison, chairman of the TIAA-Cref pension fund; Euan Baird, chairman of Rolls-Royce; Marshall Carter, former chairman of State Street Bank; Shirley Ann Jackson, president of Rensselaer Polytechnic Institute; James McDonald, president of Rockefeller & Co; Robert Shapiro, former chairman of Monsanto; and Sir Dennis Weatherstone, former chairman of JP Morgan. The 1,366 members of the NYSE will vote on the nominations on November 18.
The Securities and Exchange Commission, chief US financial regulator, also adopted a wait-and-see stance. It said the reforms were a "critical first step towards revamping the governance and regulatory structure at the NYSE" but added that "additional reforms" might be considered as part of its review of the US securities markets.
Mr Reed defended his proposals: "I believe this structure is quite good and robust." Asked if long-term structural changes were required, he said: "I wasn't brought in here to address [those] questions." xref Independent regulator needed, Page 13 Lex, Page 14 New board, Page 18
NYSE unveils reform blueprint
By Vincent Boland in New York
Published: November 7 2003 18:03 / Last Updated: November 7 2003 18:03
The New York Stock Exchange yesterday unveiled wide-ranging reforms of its corporate governance in a bid to restore its reputation following the furore over the pay of Richard Grasso, its former chairman.
The proposals by John Reed, Mr Grasso's interim successor, would involve separating regulation and day-to-day operations but keeping its structure intact.
Critics said the reforms, which include a board of eight directors independent of Wall Street, did not go far enough to address structural and ownership weaknesses that led to the recent corporate governance failures.
Sean Harrigan, president of Calpers, the Californian pension fund, said the "woefully inadequate" reforms would do little to restore investor confidence.
Mr Reed named the eight directors to replace the 27-member board that gave a lavish pay package to Mr Grasso, who had appointed most of them. Mr Reed said the eight nominees were "a distinguished group" independent of the securities industry.
"This is a significant change as far as we are concerned. For the first time in its history the NYSE will have a truly independent board of directors," Mr Reed said.
The new board will have responsibility for compensation and the controversial issue of market regulation. This is the focus of scrutiny because of investigations into allegations of improper activity by the "specialist" firms that manage stock trading on the NYSE floor.
It will also appoint an executive board - comprising members, brokers and investors - to oversee day-to-day operations.
Corporate governance experts were cautious about the dual structure because it is rare at US companies. Espen Eckbo, at the Tuck School of Business at Dartmouth College, said: "The independent board will have to stamp its authority from the outset. If it doesn't, the executive board will run the show and the NYSE will be back to where it was."
The eight nominees are Madeleine Albright, former secretary of state; Herbert Allison, chairman of the TIAA-Cref pension fund; Euan Baird, chairman of Rolls-Royce; Marshall Carter, former chairman of State Street Bank; Shirley Ann Jackson, president of Rensselaer Polytechnic Institute; James McDonald, president of Rockefeller & Co; Robert Shapiro, former chairman of Monsanto; and Sir Dennis Weatherstone, former chairman of JP Morgan. The 1,366 members of the NYSE will vote on the nominations on November 18.
The Securities and Exchange Commission, chief US financial regulator, also adopted a wait-and-see stance. It said the reforms were a "critical first step towards revamping the governance and regulatory structure at the NYSE" but added that "additional reforms" might be considered as part of its review of the US securities markets.
Mr Reed defended his proposals: "I believe this structure is quite good and robust." Asked if long-term structural changes were required, he said: "I wasn't brought in here to address [those] questions." xref Independent regulator needed, Page 13 Lex, Page 14 New board, Page 18
Hi,
I don't follow ATNG at all, but here's their transfer agent - who should have some contact info..:
Transfer Agents: Corporate Stock Transfer, Inc., Denver, CO 80209
http://www.pinksheets.com/quote/company_profile.jsp?symbol=ATNG
Also, the Atty general in MI should be able to give you some help.
Many times it's best to just keep the shares, as the shell will get reused someday.
John
AVHC will present at the Medica conference in Germany..:
http://www10.medica.de/cipp/md_medica/custom/pub/content,lang,2/ticket,g_a_s_t/oid,155
I think you will find that my selection of verbiage is usually spot on; at least my English professors thought so...:
in·ter·course ( P ) Pronunciation Key (ntr-kôrs, -krs) n.
1. Dealings or communications between persons or groups.
-- or --
Pronunciation: 'in-t&r-"kOrs, -"kors
Function: noun
Etymology: Middle English intercurse, probably from Middle French entrecours, from Medieval Latin intercursus, from Latin, act of running between, from intercurrere to run between, from inter- + currere to run -- more at CAR
Date: 15th century
1 : connection or dealings between persons or groups
2 : exchange especially of thoughts or feelings : COMMUNION
The word has also been defined as "..business.."; which may be most correct in this instance, considering who is giving what to whom - and the myriad of possible reasons why.
Good luck with your T-A system's prognostications on ENGY speculation.
John
No big changes here, it seems..................
http://www.enviro-energycorp.com/
John
Not much news lately.
http://www.pcquote.com/stocks/news/GetNews.php?ticker=engy
John
Interesting trading pattern the last couple of days.
John
You might want to note the missing carriage return after your opening sentence in most posts.
John
AVHC - News: http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=19477642
Advanced Healthcare Technologies, Inc. Announces the Company Will Be Attending MEDICA 2003
AVHC - News: http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=19477642
Advanced Healthcare Technologies, Inc. Announces the Company Will Be Attending MEDICA 2003
Advanced Healthcare Technologies, Inc. Announces the Company Will Be Attending MEDICA 2003
OMAHA, Neb., Nov 7, 2003 (BUSINESS WIRE) -- Advanced Healthcare Technologies (OTCBB:AVHC) has signed a contract to attend and exhibit at the November 19 - 22 MEDICA 2003 in Dusseldorf, Germany.
MEDICA is the largest medical trade show in the world. The MEDICA Congress is primarily aimed at doctors and medical dealers. More than 130,000 visitors are expected to attend. To obtain information on MEDICA 2003, please visit www.medica.de.
Exhibiting at MEDICA, held in Dusseldorf, Germany, has proven to be the ideal way for small-to-medium sized medical companies to increase overseas trade. Exhibitors at MEDICA are able to reach more specialty medical dealers than any other trade show.
AVHC will be represented by Frederic Schwab, our European sales and marketing manager, headquartered in Germany. Mr. Schwab has confirmed the company's marketing and sales program is fully implemented.
About Advanced Healthcare Technologies
Advanced Healthcare Technologies, Inc. (OTCBB:AVHC) is a company that engages in the development and incubation of companies with products and services in the healthcare industry.
SOURCE: Advanced Healthcare Technologies, Inc.
Advanced Healthcare Technologies, Inc.
Randall Sulhoff, 402-697-0945
or
Elite Equity Marketing
Joseph Pettinelli, 410-321-5454
info@eliteequitymarketing.com
Again, "..mea culpa.." and my apology if I inadvertently inferred, or you incorrectly perceived, a condition of inadequacy in your vertical or reproductive stature from our current intercourse. Danny DeVito, Joe Pesci, and that fellow who used to play Miguelito in the Wild, Wild West are some of my very favorite media characters.
You would be well served, it would appear, to write and/or email the SEC and powers-at-be in D.C. in support of the upcoming rule changes. I have long been a proponent of the BBX, and now the new rules on short selling; especially the reporting requirements that will affect the scurrilous MFMMMs.
OBTW: I prefer to be addressed by my first name, as I would do for you - if you ever signed your posts or completed your iHub profile.
Good luck with ENGY. Like mesophilic bacteria, it may become more productive and go up - just as the temperature often does in March, etc.
John
Again, you presume. And, I'm sorry if I made light of your visual inadequacies. T-A away............
However, as you and I both know, the application thereof on OTCBB and Pinksheet stocks residing in the subpenny range is equivalent to rolling the dice at a indian Casino in Kansas.
ENGY being unable to make use of or produce on the superb technology that they licensed, subsequently mucking about internally until Tom Bowers would no longer sign their filings, and the total lack of news since, would tend to indicate that price movement of this stock is totally due to MFMMM diddling, "..Funk'y.." insider trades, and obsessed poster(s) manipulation. Of course, that's only IMHO. As you might suggest in the future, ENGY could always become an acquisition target for Microsoft, IBM, TRW, or Martha Stewart Living Omnimedia.
Have a nice day.
John
Too late.................
The Great Pumpkin has already dispensed all his candy to all of the good little boys and girls (..with sincere pumpkin patches..) all over the world. So, once again "..Fatso.." will be stuck with Domino's cinnamon breadsticks - even if Merlin and Hillary stop by to tickle him on the tushy.....
Bloody Hail............
If we made paper airplanes out of all those certs and attached a firecracker to each one..; we could "..LAUNCH.." them off a tall dune outside Tikrit, and scare Saddass Hussien and his goofy cronies clean out of Iraq...!!!
Call the DOD quick, we may have use for Fwankie's used B-17 operation after all....!!!
John
"...Aye, Matey..................
T'is just a little effort it takes to cross swords with a hearty larf, rather than a snivelin' snarl.......
Now, be off wi'd ya landlubbers - or we'll keel-haul the lot o' ya...........
Long John Shiver-me-Timbers
You presume.................
Please show me where you have spoken with anyone at ENGY recently. Or, that you have any knowledge of their operations that aren't deduced from some highly suspect T-A calculations run on an under $0.01 stock.
Have you ever been to the SBR digester jobsite in Tillamook, OR..??? Or, to Colvico's facility in Spokane, WA..?!? I have. It appears to me that you are either living in a vacuum, or the distance to the ground from the stoop of your Glass Castle exceeds 20,000 feet. http://www.cami.jccbi.gov/aam-400/beware.htm Skydiving and parachute packing lessons for Christmas might be a good idea.
John
ps: This isn't RB. Keep it polite and/or humorous, or your posts will end up in the iHub crap-can.
" #msg-1701083 ", said the ostrich to the mole.
Ha ha ha ha ha ha ha ha ha ha.............................
John
We're just oh so impressed..........................
Advanced Healthcare Technologies, Inc. Announces the Acquisition of NutraTek, LLC
OMAHA, Neb., Nov 6, 2003 (BUSINESS WIRE) -- Advanced Healthcare Technologies (OTCBB:AVHC) CEO Randall L. Sulhoff, of Omaha, Nebraska, announced today with excitement, AVHC has signed a contract to acquire a 100% ownership interest in NutraTek Health Science Company. NutraTek, L.L.C. is a Utah Limited Liability Company, whose address is 859 West South Jordan Parkway, suite 104, South Jordan, Utah 84095.
Johnny Sanchez, NutraTek owner and president, has led NutraTek Health Science Company into the multi-billion dollar Wellness business. Mr. Sanchez stated, "NutraTek features long term and repeat sales, improves lifestyle and beauty." Company motto is "Achieve Your Genetic Potential." "Within the next ten years the Wellness Industry is expected to grow into a trillion dollar industry. NutraTek has a proprietary new product that promotes weight loss and may prevent against Diabetes by maintaining healthy blood glucose. Studies have indicated that it increases muscle mass and increases energy levels naturally and quickly. Every day more and more people are diagnosed with Diabetes, especially adolescents. Many of these people are not satisfied with the sugar alternatives now available. NutraRiche and NutraSmooth can satisfy the taste and demand of this fast growing market," said Mr. Sanchez.
NutraTek is unique with two (2) proprietary products.
1. NutraSmooth. NutraSmooth is a revolutionary meal-replacement for diabetics and weight loss. NutraSmooth is designed to regulate blood sugar at the cellular level. NutraSmooth is unique because it contains NutraTek's proprietary sweetener.
NutraSmooth growing markets include diabetics, people concerned with weight control, people on the go, people with low energy or fatigue, and those that do not have the opportunity to exercise and smokers.
2. NutraRiche. NutraRiche is a NutraTek proprietary sweetener. NutraRiche can be used as a sugar supplement. "Can you imagine having your cake and eating it too?" NutraRiche has no aftertaste as compared to other substitutes. It offers a healthy alternative that can be used as table sugar, to cook with, or in soft drinks.
NutraTek's success currently consists of over 500 customers, 2003 sales predictions are over $900,000 with growth expectations equal to $200,000 per month by late spring 2004.
AVHC and NutraTek plan to aggressively move forward with a unique proprietary technology, IQS (Health Assessment Device).
Product Review and Purchase: http://www.nutratek.com
About Advanced Healthcare Technologies
Advanced Healthcare Technologies, Inc. (OTCBB:AVHC) is a company that engages in the development and incubation of companies with products and services in the healthcare industry.
SOURCE: Advanced Healthcare Technologies
Advanced Healthcare Technologies, Inc.
Randall Sulhoff, 402-697-0945
RandyLSulhoff@AOL.Com
or
Elite Equity Marketing
Joseph Pettinelli, 410-321-5454
info@eliteequitymarketing.com
AVHC - Looking a little better already today................
AVHC 0.065 +0.01 (+18.18%) 0.06 0.07 638,500
John
Looking a little better today................
AVHC 0.065 +0.01 (+18.18%) 0.06 0.07 638,500
John
I've got a tractor tire pressure bottle in the garage.
You get Fwankie to bend over and I'll sure as hail - POOOMMMMMP HEEEEEEM OOOPPPPPP..........!!!
Then, we'll put on our gasmasks and jump in a foxhole - while he flies around the South 40 like Rocket Man.
ps: Probably save a ton on fertilizer this year...........
AVHC volume starting to pick up, should have 8-K and PRs later this month.
ARET, of all things, is also gaining for some reason.
MASG with news again today, also.
John
"....Pssssssssssssssssssssssssst.....................
Nobody in here gives a rat's tush.......!!!
ps: You know, just like over at RB...................
Hey, Mang...................
Fwankie, da kwew, & NTI could finally "....GET IT UP...."!!! And, you'll be able to dump at a profit........!!
Quoting Homer, "......Woooo wooooo......"!!!
John
Not too worry, Alley Oop ,
Many's the time I'm up at 0400 with start-up duty on a new process system. It's also a good time to get a head start on harassing the bass..........
Now, please make sure to keep up with those "...courtesy flushes...", so you don't disturb the neighbors on your cell block with your typical room-filling, paint-peeling stench.........
Have a lovely day.
If you want any information at all, at this point in time, you'll have to speak with Joe Petinelli - the IR/PR guy.
The company staff is on a self-imposed gag-order until they have something important to say. I sure like that policy, over the pumped-up fluffy tripe that most other BB'rs spew out.
8-K and other info should be out later this month. IMHO. With the low float here, I'm still collecting.
John
Dave,
Be "..Left Coast Liberal - Hillary.." tollerant, now -- ol' Son...!!!
You know that it's very hard for Fwankie to a much of a grip anything else, when both
his hands are all jellied up with K-Y - and busy with that which interests him the most...
John
Pretty good day, today...............
AVHC 0.055 +0.015 (+37.50%) 0.051 0.055 830,250
John
It might be interesting to note that the 8-K is due this month, which will certainly provide a clue as to what's going on at AVHC. In addition, a PR or two wouldn't be out of the question considering that they've now had a little time to start getting their ducks in a row.
According the Joe P there is about 10MM shares in the public flaot (..pretty small amount for a BB'r..), and some of that may have been dumped by the two yayhoos who are no longer assocaited with the company.
I think I'm going to keep adding shares with my spare change. The potential for the product hasn't changed - big market out there.
Regards,
John
Well. If a hold/accumulate scenario doesn't work for you here - then there only seems to be two viable choices remaining:
1) dump it
or
2) play the daily differential
As I recall, their should be significant News before the end of the year. You might want to call their PR guy in NJ.
John
Hi,
Today's volume/gains should ease your concerns a bit: AVHC 0.06 +0.02 (+50.00%) 0.055 0.065 439,150
Unlike many of the BB and Pink "..hoser's..", these guys just don't "..fluff it.." to take up media space.
The next PR should be interesting.
John
MASG - News: "..Mooney Airplane Company Announces Over 20% Decrease (..per aircraft..) in (..required..) Aircraft Construction Hours in One Month..".
http://www.investorshub.com/boards/read_msg.asp?message_id=1696122