Muriel Siebert & Co., Inc. Extends Program To Sell Stock Donated To Red Cross For Hurricane Katrina Victims At No Charge
American Red Cross
Company Again Expands Siebert Charitable Stock Donation Program Originally Developed To Assist Victims of Florida Hurricanes As Investors Show Interest In Donating Stock To Help In Katrina Aftermath
To help investors who would like to donate stock as a way of contributing to Red Cross relief efforts in the Gulf Coast hit by Hurricane Katrina, Muriel Siebert, Chairman and President of Siebert Financial Corp. (NASDAQ:SIEB), parent of the stock brokerage firm, Muriel Siebert & Co., Inc., today announced that the firm will sell stock donated to the Red Cross free of commission charges. The announcement by Siebert represents an expansion of last year's Charitable Stock Donation Program launched with the American Red Cross and other charities to help Florida hurricane victims and later extended to victims of the Tsunami in Southeast Asia and East Africa.
"This natural disaster is a national tragedy whose aftermath we will all feel for some time to come," said Muriel Siebert. "We all want to help in some way and the Siebert Charitable Stock Donation Program is a way Siebert can help maximize the value of stock donations and get more help to the needy."
Muriel Siebert & Co., Inc. has been handling the liquidation of stock donations for no commission for a number of charitable and non-profit organizations for years. In 2004 alone, Siebert handled over $26 million in stock donations for charities without commission charges. Siebert has been selling stock donated to the American Red Cross without commission charges through the Siebert Charitable Stock Donation Program since last fall. To date, the firm has sold close to $3 million in stock donated to the Red Cross to help disaster victims, including $655,000 earmarked for Hurricane Katrina victims in the past week alone.
Investors who would like to make stock donations to benefit the Hurricane Katrina relief effort can do so through the American Red Cross (visit www.redcross.org) at the links for "Donate Stock", or can have their charities contact Siebert to participate in the program. Investors who wish to donate are not required to have Siebert accounts and can contact Siebert at 800-872-0711 for more information about the Siebert Charitable Stock Donation Program.
Siebert does not provide legal or tax advice. Investors should consult their tax advisors regarding potential tax implications of donations or sales of securities. Siebert and the American Red Cross are not affiliated companies. Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and other factors include, changes in general economic and market conditions, fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, increases in competition within and without the discount brokerage business through broader service offerings or otherwise, competition from electronic discount brokerage firms offering greater discounts on commissions than Siebert, prevalence of a flat fee environment, decline in participation in equity or municipal finance underwriting, decreased ticket volume in the discount brokerage division, limited trading opportunities, increases in expenses, changes in net capital or other regulatory requirements. As a result of these and other factors, Siebert may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in "forward-looking statements" are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Accordingly, investors are cautioned not to place undue reliance on any such "forward-looking statements," and the Company disclaims any obligation to update the information contained herein or to publicly announce the result of any revisions to such "forward-looking statements" to reflect future events or developments. An investment in Siebert involves various risks, including those mentioned above and those, which are detailed from time to time in Siebert's Securities and Exchange Commission filings. Copies of the company's SEC filings may be obtained by contacting the company or the SEC.
For more information, or to contact American Red Cross, see their website at: www.redcross.org
|Email Article To A Friend||Link to us!|