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HOSTILE ACQUISITION: In the world of mergers, the acquisition of one company by another against the wishes of the company being acquired. Also termed a hostile takeover, this is accomplished by purchasing controlling interest in the stock of the acquired company, usually by offering to pay a price exceeding the current market price. A hostile takeover might be motivated to eliminate competition, to sell off the assets of the company for more that the takeover payment, or to temporarily inflate the price of the stock.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 7 of 24
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A third type is a credit union. History: - The first credit union was created in 1909.
- Experienced tremendous growth after WWII.
- Primary regulator is the National Credit Union Association (NCUA).
- Created for reasons similar to labor unions.
Credit unions: - Relatively small, non-profit entities, associated with a particular business or group with something in common.
- Pool savings and make personal loans to members.
Evolution: - Originally offered limited banking services.
- Began offering checking accounts in the 70's, which gave them control over part of the M1 money supply.
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ELASTICITY The relative response of one variable to changes in another variable. Elasticity is commonly used in the study of market exchanges to identify the relative response of quantity (demanded and supplied) to changes in price. The phrase "relative response" is best interpreted as the percentage change, such as, the percentage change in quantity measured against the percentage change in price. The most common notions of elasticity are the price elasticity of demand and the price elasticity of supply. Other notable economic elasticities are the income elasticity of demand and the cross elasticity of demand.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for cardboard boxes.
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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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"If football taught me anything about business, it is that you win the game one play at a time." -- Fran Tarkenton, Football Player
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ITO
International Trade Organization
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