From: Larry Bush [email@example.com]
JUST DO IT. The SEC should have the courage to mandate the elimination of new stock certificates by tomorrow! Follow the lead of AT&T. I have been licenesed since 1968 and stock certificates continue to cause problems for me. In the last 5 years, I have helped more people replace lost stock certificates than I did over my first 30 years as a broker. They lost them or never received them in the mail. Estate administration is cleaner, cheaper, and easier with street name or book entry ownership. Was it 1984 when the Treasury Department quit issuing treasury bill certificates? Our clients cried for about 2 weeks. Now, none of my clients want to take delivery of a treasury certificate. I'm a simple minded broker and this is a NO-BRAINER. ELIMINATE STOCK CERTIFICATES-TOMORROW.
W. Lawrence Bush