Red Knights Enjoy Man Utd Crusade
A consortium of London financiers seeks to buy Manchester United FC and eventually distribute ownership among the club's millions of fans worldwide. Current owners, the Glazer family, say the club is not for sale.
Competition Enjoys Toyota Recall
Toyota's massive recall now includes over 5.3 million cars, including some of the most popular in this country. While potentially debilitating for the world's #1 automaker, Toyota's misfortune could be a boon to its competitors.
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Enjoy iPad Frenzy
So its official. Apple has released their iPad and people are foaming at the mouth with excitement. How will the new device change the media landscape and why should you care?
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Enjoy State of the Tablet Address
Today, President Jobs will give the state of the union address after which Chairman Obama is expected to announce a "breakthrough device," for Apple. Will either live up to the hype and how will the economy react?
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RECESSION: When total economic output shrinks instead of grows.
Over the first three months of 2009, U.S. GDP fell at an annual rate of about 5.5%.
GDP: Gross Domestic Product: A measure of an economy's size and performance - meaning all of the Goods and Services produced over a specific time period.
SERVICE: Intangible Economic output that you can't touch, like hiring a lawyer, or getting your hair did. Services accounted for 78% of America's economy in 2008.
GOODS: Economic output that you can use and touch, like a motorcycle, Ipod, book, or baseball. Goods accounted for about 20% of America's economy in 2008.
EXPORT: A Good or Service transported from a producing country to a consuming country - like Boeing selling a plane to Korean Airlines.
IMPORT: A Good or Service transported to a consuming country by a producing country, like the French wine your girl loves or your bank account at HSBC.
FISCAL STIMULUS: As economy starts to contract, the Federal Government may step in and either a) spend money or b) lower taxes to help the economy grow again.
Green Shoots: Newly cliché horticultural metaphor referring to early signs of economic recovery; some modest good news in a world of pain.
Interest Rate: The price you pay to borrow money. This percentage is applied to the amount borrowed and is usually compounded monthly or annually.
Equity: Equity = Assets - Liabilities. Example: @Twitter Equity = Followers - Following.
Quote: "The chief business of the American people is business." - Calvin Coolidge, 1925
Insolvent: Your liabilities exceed your assets; you're bankrupt. You can't pay bills or get fresh & Time Warner is on you for that 3-month old cable bill.
Laissez-Faire: economic liberalism: gov. takes backseat, market forces prevail. In 1680, French finance minister J.B. Colbert, asked businesses how gov. could help- they responded, 'laissez faire'- leave us alone.
Solvent: Your assets exceed your liabilities. You have enough cash, stocks, and goods that you could move quickly on eBay if you had to quickly pay back all your debt.
Deleveraging: When a person, company or investment firm that has borrowed too much must sell assets (stocks, bonds, commodities etc.) to pay back its debt.
Liquidity: Access to cash or assets that can be quickly converted into cash.
Free Trade: When different countries can trade freely with each other without a lot of taxes on imports and exports. Enjoy Free Markets!
Infrastructure: Roads, dams, utilities, bridges, the train. The things we take for granted that allow our society to function and our economy to operate.
Leverage: A fancy Wall St. word for borrowing or debt. Also see: Geared.
Quote: “I hate this shallow Americanism which hopes to get rich by credit... skill without study, or mastery without apprenticeship.”
-Ralph Waldo Emerson, American Transcendentalist poet
