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VERTICAL MERGER: The consolidation under a single ownership of two separately-owned businesses that have an input-output relationship, in which the output of one firm is the input of another. An example of a vertical merger would be a soft drink company merging with a sugar company to form a single firm. A vertical merger should be contrasted with horizontal merger--two competing firms in the same industry that sell the same products; and conglomerate merger--two firms in totally, completely separate industries.
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FEDERAL RESERVE BRANCH BANKS A collection of 25 government banking institutions that are part of the U.S. Federal Reserve System and which support the activities of the 12 Federal Reserve District Banks that supervise, regulate, and interact with commercial banks as they carry out the policies established by the Federal Reserve Board of Governors. Federal Reserve Banks, both District and Branch, are often termed bankers' banks in that they provide banking services to commercial banks. The 37 separate banks--12 District Banks and 25 Branch Banks--spread across the country are what help make the Federal Reserve System a decentralized central bank.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"How we spend our days is, of course, how we spend our lives. " -- Annie Dillard, essayist
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BEA
Bureau of Economic Analisys
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