Strategic Alliance Formed to Develop Socially Screened On-Line Trading System.Business Editors/Investment & High-Tech Writers OAKLAND, Calif.--(BUSINESS WIRE)--Sept. 25, 2000 Progressive Asset Management, Inc. Joining with Sustainable Systems, Inc. To Create ProgressiveTrade, a New Company to Bring Socially Responsible Investing to On-Line Investors Progressive Asset Management, Inc. (PAM (1) (Pulse Amplitude Modulation) The conversion of audio wave samples to pulses (voltages). PAM is the first step in pulse code modulation (PCM), which is followed by converting the pulses to digital numbers. See PCM. ), the first independent full service investment firm specializing in socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, , is pleased to announce the formation of a strategic alliance with Sustainable Systems, Inc. to develop ProgressiveTrade(TM), a new service for on-line investors interested in socially responsible investing. PAM and Sustainable Systems will form a new company to design and build this on-line social screening system. The system will offer investors a way to create and apply their own social and environmental screens to evaluate investments and then execute trades in those investments through one or more affiliated on-line brokerages. Currently, there are no socially screened on-line trading systems The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. for socially responsible investors and on-line traders to use. Socially responsible investing uses social screening as a deeper form of fundamental analysis to assess a company's performance in relation to factors such as environment, treatment of workforce, safety of product/service, and community relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. . A national Gallup Poll Gallup Poll Noun a sampling of the views of a representative cross section of the population, usually used to forecast voting [after G H Gallup, statistician] Gallup poll n → in May 2000 found that 11% of all investors had made one or more socially responsible investments. Founded in 1987, PAM has played a pioneering role in the definition of the field of socially responsible investing. Therefore, PAM has a powerful base from which to launch ProgressiveTrade(TM), which will incorporate PAM's proprietary social research and social screening systems. Sustainable Systems brings to the strategic alliance business incubation incubation /in·cu·ba·tion/ (in?ku-ba´shun) 1. the provision of proper conditions for growth and development, as for bacterial or tissue cultures. 2. and accelerator services, so that ProgressiveTrade(TM) will have access to excellent Web and business development resources. Sustainable Systems co-developed and operates the Communication Technology Cluster, a highly successful business incubator Business incubators are organizations that support the entrepreneurial process, helping to increase survival rates for innovative startup companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered a specialized menu of , sponsored by the City of Oakland. The Communication Technology Cluster serves approximately 25 communications start-up companies start-up company A new business. at any given time. In association with the Communication Technology Cluster, Sustainable Systems has built a network of consultants with expertise in business development, Web design, and capital acquisition. Graduates from the Communication Technology Cluster include Tucker Technologies, Q-Space, Expede, Digital Fountain and Cloudsource. Graduate and current Communication Technology Cluster companies have received over $150 million in venture capital investment. PAM and Sustainable Systems will collaborate in the formation of the new company to offer the ProgressiveTrade(TM) socially screened on-line trading system. At formation, PAM will own 70% of the new company's stock and Sustainable Systems will own 30% in return for Sustainable Systems' business development services. The new company is in the process of being incorporated, raising initial capital, and completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. . Statements contained in this release that relate to future plans, events, or performance are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including, but not limited to, changes in general economic conditions, intense competition for customers and pressure on brokerage and other fees charged, the mood of the investors, and changes in pubic pubic /pu·bic/ (pu´bik) pertaining to or situated near the pubes, the pubic bone, or the pubic region. pu·bic adj. 1. attitude towards socially responsible investments. PAM cautions that the foregoing list of factors is not exclusive. Developments in any of these areas could cause PAM's results to differ materially from results that have been or may be projected by or on behalf of PAM. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. PAM does not undertake to update forward-looking statements made from time-to-time by PAM. |
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