abu yahya's definitions

Usonian

Of or related to the United States of America; term coined by Frank Lloyd Wright to refer to his new ideal for architecture. This word is preferable to "American" since there are dozens of countries in North and South America. In some Latin American countries, such as Brazil, the use of "American" to refer to US nationals is considered offensive and officially discouraged.

While Canadians and Usonians share a common heritage and close proximity, there are some subtle cultural differences.

by Abu Yahya October 16, 2008

News Corp

(BUSINESS & MEDIA) 3rd largest media holding company in the world; US holdings include Fox News, Wall Street Journal, New York Post, and Dow Jones; in the UK, News of the World, *The Sun*, *The Sunday Times*, & The Times (London); and a couple dozen papers in Australia, plus Sky Broadcasting. News Corp also owns HarperCollins & 20th Century Fox.

News Corp is fairly aggressive for a holding company in actually imposing a unified strategy and brand identity on its holdings. It was created by Rupert Murdoch from News, LTD. (a firm created by Murdoch's father, Sir Keith) in 1979, a few years after he went on a media buying spree in the USA. Murdoch became a US citizen so he could legally own US TV stations. The Murdoch family owns 29% of News Corp; Saudi Prince Al-Walid bin Talal owns 7%.

News Corp launched Fox News in 1996 to compete with CNN; shortly before this, News Corp also launched the neoconservative magazine *The Weekly Standard* with William Kristol as its editor.

News Corp is not as large as Walt Disney or Time Warner, but it has been far more successful as a business model than its larger competitors. That's mainly because Murdoch focused on finances and political strategy, whereas the other media conglomerates remain unwieldy, random agglomerations. It's like a battle between a remorseless bulldozer and a large heap of sand.

by Abu Yahya September 1, 2010

U-1

(ECONOMICS) Persons unemployed 15 weeks or longer, as a percent of the civilian labor force.

The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-2, U-3, U-4, U-5, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.

The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.

Analysts use U-1 as a measure of the proportion of people that can no longer replace employment earnings with unemployment insurance or savings.

by Abu Yahya July 17, 2010

U-4

(ECONOMICS) Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers.

The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-1, U-2, U-3, U-5, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.

The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.

U-4 includes all individuals that are unemployed as well as people known as discouraged workers. These people are then reported as a percentage of the combined civilian labor force and discouraged workers. Discouraged workers are defined as unemployed workers who have searched for employment within the last 12 months that have cited an economic reason for no longer looking for work. These reasons could range from “There just aren’t any job openings in my area.” to “I keep getting turned down for interviews, so why bother?”

{Nebraska Workforce Trends|October 2009}

by Abu Yahya July 15, 2010

covering shorts

(FINANCE) the situation in which a derivatives trader with a short position is wrong about the behavior of the market. Having sold shares of stock he doesn't own, he is now compelled to buy them at a higher price than he sold them for (in order to reimburse whomever he borrowed the shares from).

If the short position was taken by writing naked options (i.e., issuing call options of stock the trader doesn't happen to have), then the trader has to buy shares of underlying stock in order to honor the options.

It's extremely expensive for traders to have to cover their shorts.

The surprising stock rally came as a shock. Nicholas Leeson had been riding high, but now he was furiously covering shorts, and driving the share prices higher still. By closing bell, he was ruined.

by Abu Yahya May 5, 2010

trade deficit

the amount of goods and services that a country imports, minus the goods and services that it exports *in a calendar year*. In 1999 Japan exported much more than it imported, so it had a trade surplus. The same year, the United States imported more than it exported, and therefore had a large trade deficit.

While Japan had a trade surplus and the USA had a trade deficit, both had something called a trade balance, which was negative for the USA and positive for Japan.

During economic downturns, political leaders become very concerned if their country is running a trade deficit, because it means that jobs are being lost to business overseas.

by Abu Yahya February 14, 2009

expert's dilemma

A problem faced by a person with specialized expertise in any area, in which the implications of the opinion are unpopular and likely to be rejected by those who need that expertise. For example, economists may be likely to know that, in some cases, a "market solution" is inherently impossible, but proposing an alternative is an exercise not merely in futility, but career suicide among those who employ economists. It arises because the expert knows more about the field than her employers.

The statistician was asked by his boss to make a case for risk homeostasis, but knowing better, he faced an expert's dilemma: telling the truth would get him tarred as a 'socialist.'

by abu yahya June 23, 2008