abu yahya's definitions
World's 3rd largest company (2009 sales: $310 billion); 2nd largest oil company (after Royal Dutch Shell).
Founded by John D. Rockefeller in 1862 in Titusville, PA as Rockefeller & Andrews Oil. Using combination of trust agreement and a holding company based in NJ, grew to totally dominate oil production, transport, and retailing. Standard Oil incorporated 1870.
Trust agreements revoked (court order) 1892; SO holding company broken up 1911 into 35 entities, including: Exxon, Mobil, Chevron, ARCO, Conoco, and Amoco. Amoco and ARCO were absorbed by British Petroleum, while Conoco merged with Phillips, Chevron merged with Texaco, and Exxon merged with Mobil.
Apologies to Urban Dictionary for misspelling the company's name "Exxon Mobile" in the definition for BP, p.l.c..
Founded by John D. Rockefeller in 1862 in Titusville, PA as Rockefeller & Andrews Oil. Using combination of trust agreement and a holding company based in NJ, grew to totally dominate oil production, transport, and retailing. Standard Oil incorporated 1870.
Trust agreements revoked (court order) 1892; SO holding company broken up 1911 into 35 entities, including: Exxon, Mobil, Chevron, ARCO, Conoco, and Amoco. Amoco and ARCO were absorbed by British Petroleum, while Conoco merged with Phillips, Chevron merged with Texaco, and Exxon merged with Mobil.
Apologies to Urban Dictionary for misspelling the company's name "Exxon Mobile" in the definition for BP, p.l.c..
Exxon Mobil operates 37 oil refineries in 20 countries; in the USA, it owns and operates about 12,000 service stations.
Exxon Mobil mostly evaded any significant financial responsibility for the 1989 Exxon Valdez tanker crash, the 2nd worst oil spill in US history (since eclipsed by the 2010 Deepwater Horizon blowout. That disaster cost the company about $4.5 billion, paid out over 20 years (or roughly 2% of profits over that time period).
Exxon Mobil mostly evaded any significant financial responsibility for the 1989 Exxon Valdez tanker crash, the 2nd worst oil spill in US history (since eclipsed by the 2010 Deepwater Horizon blowout. That disaster cost the company about $4.5 billion, paid out over 20 years (or roughly 2% of profits over that time period).
by Abu Yahya July 18, 2010
Get the Exxon Mobil mug.Latin, "thus"; used to indicate that an error in the original has been replicated in a quote.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
His columns are full of brilliant insights such as this one:
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
by Abu Yahya March 7, 2009
Get the *sic* mug.the amount of goods and services that a country exports, minus the goods and services that it imports *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.
A country can have an overall trade deficit (like the USA in all years since 1980) and still have trade surpluses with individual countries (e.g., the USA occasionally has trade surpluses with Brazil).
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.
A country can have an overall trade deficit (like the USA in all years since 1980) and still have trade surpluses with individual countries (e.g., the USA occasionally has trade surpluses with Brazil).
Usually, when a country runs a trade surplus it tends to export the excess foreign currency back to the deficit country as portfolio investment. In this way, the foreign currency retains its value.
by Abu Yahya February 14, 2009
Get the trade surplus mug.*noun*; a concept central to the idea of Keynesian economics. Under this theory, business cycles (recessions, depressions, booms, recoveries) are caused by a failure of total demand across the entire economy to match total output.
Aggregate demand is not merely influenced by people's ability to buy what they produce; it is also influenced by the marginal propensity to consume (MPC). If the MPC is less than 1, then an increase in national income will be matched by a smaller increase in aggregate demand, causing unemployment to rise and prices to fall.
Aggregate demand is not merely influenced by people's ability to buy what they produce; it is also influenced by the marginal propensity to consume (MPC). If the MPC is less than 1, then an increase in national income will be matched by a smaller increase in aggregate demand, causing unemployment to rise and prices to fall.
...When we say that the expectation of an increased demand, i.e. a raising of the aggregate demand function, will lead to an increase in aggregate output, we really mean that the firms, which own the capital equipment, will be induced to associate with it a greater aggregate employment of labour
J.M. Keynes, *The General Theory of Employment, Interest, and Money* (1936), Ch.4
J.M. Keynes, *The General Theory of Employment, Interest, and Money* (1936), Ch.4
by Abu Yahya March 3, 2009
Get the aggregate demand mug.(FINANCE) when a trader in a short position is wrong about the price movement, and is consequently forced to buy the asset at the higher price in order to meet legal obligations.
The classic example of this is the broker who sells stocks he does not own, in the expectation that he can buy the stock in the future at a lower price for delivery. If the price goes up instead of down, the broker must "cover his shorts," and very possibly drive prices higher still.
The classic example of this is the broker who sells stocks he does not own, in the expectation that he can buy the stock in the future at a lower price for delivery. If the price goes up instead of down, the broker must "cover his shorts," and very possibly drive prices higher still.
When Morgan was ready to squeeze the shorts, he was damn certain his corner would hold as the Twombly men scrambled to buy shares at any price.
"I've got your short cover right here, Gentlemen," he snorted from his seat overlooking the trading pit.
"I've got your short cover right here, Gentlemen," he snorted from his seat overlooking the trading pit.
by Abu Yahya April 15, 2010
Get the short cover mug.foreign direct investment; includes direct capital investment in companies that have not yet issued stock. As opposed to portfolio investment (purchases of traded securities in a firm). Both FDI and portfolio investment refer to capital transfers from country to country.
by abu yahya September 28, 2008
Get the FDI mug.(FINANCE) hilarious term used for over a century in the trading of stocks, commodities, etc. A way in which someone who controls much of the outstanding shares of stock can make a lot of money while ruining those who are betting against the stock.
A "short" is traditionally someone with expertise in shorting a stock, i.e., managing to borrow shares and sell them in anticipation of a decline in value. Obviously, if there are many people shorting a particular stock at any given time, and if they are wrong about the future, then a steep rise in value if the share price will not only cause them to lose money, it will force panic purchases of stock as the traders attempt to cover their shorts. If the instigator of the squeeze is successful, he will have a corner, and drive the price of the stock up to absurd levels.
An unsuccessful squeeze of shorts in a copper trust triggered the Crisis of 1907. That, in turn, triggered the Aldrich–Vreeland Act (May 1908).
A "short" is traditionally someone with expertise in shorting a stock, i.e., managing to borrow shares and sell them in anticipation of a decline in value. Obviously, if there are many people shorting a particular stock at any given time, and if they are wrong about the future, then a steep rise in value if the share price will not only cause them to lose money, it will force panic purchases of stock as the traders attempt to cover their shorts. If the instigator of the squeeze is successful, he will have a corner, and drive the price of the stock up to absurd levels.
An unsuccessful squeeze of shorts in a copper trust triggered the Crisis of 1907. That, in turn, triggered the Aldrich–Vreeland Act (May 1908).
The brokers, after awhile, commenced to borrow large amounts of the stock. This convinced the insiders that there was a big short interest somewhere, and they got together in order to squeeze the shorts... They never awakened to the fact that the {president of the company} had sold out on them... {and were totally ruined}
Henry Clews, Victor Niederhoffer, *Fifty Years in Wall Street*, p.149
Henry Clews, Victor Niederhoffer, *Fifty Years in Wall Street*, p.149
by Abu Yahya April 5, 2010
Get the squeeze the shorts mug.