A duty is a tax levied on products that are imported or exported from a different country. If a manufacturer wants to ship his product to another country and sell it there, he may have to pay a duty for sending it out of the first country and another duty for sending it into the second, depending on the tax laws in place in each country.
Archive for the ‘Needs Link’ Category
A Duty is…
Tuesday, August 18th, 2009A CEO is…
Tuesday, August 18th, 2009A CEO is the Chief Executive Officer of a corporation; hired by the Board of Directors, the CEO is the person who is in charge of the strategic direction, management of operations, and financial results of the company.
A Stockholder is…
Tuesday, August 18th, 2009A stockholder is another name for a shareholder or a stakeholder. It’s a person who owns shares of a company’s stock.
Is There Any Logic Behind The Price Of Petroleum?
Tuesday, August 18th, 2009Why does it seem like the pundits are unable to guess what’s going to happen to the price of oil?
- Since last summer, oil prices have gone from record highs to extreme lows and then doubled again, in swings that don’t seem to be related to market fundamentals – supply and demand.
- The apparent disconnect between market fundamentals and oil price has reignited the debate about the role of speculators in commodity markets, as governments and investors fear a return to record oil prices in the current economic climate.
- In contrast to last year, the recent upswing in oil prices is happening in a recession and, therefore, not sustained by high demand. This will almost certainly result in even greater losses for the already struggling automobile and airline industries.
Facts & Figures
- Compared to last summer’s high of $145 a barrel, oil has increased from only $33 to $70 a barrel in just the past 7 months.
- Petroleum-based fuel accounts for 1/3 Southwest Airlines’ operating costs.
- The airline industry is projected to lose $9 billion this year, after losing $10.4 billion last year.
Best Quote
“To call this extreme volatility might be an understatement. Over the past 15 to 18 months, this has been unprecedented. I don’t think it can be easily rationalized.” – Laura Wright, Chief Financial Officer at Southwest Airlines
On Boards, More Members Provide More Security
Tuesday, August 18th, 2009This fascinating study shows that charity boards with fewer members lost an overwhelmingly larger amount of money to Bernie Madoff, and the accompanying article provides advice on what makes a better board.
- A study carried out by the National Committee for Responsive Philanthropy demonstrated that the majority of charities that lost at least 30% of their assets to Bernie Madoff’s Ponzi scheme had four or fewer board members.
- The reason behind the study’s results seems to be that among small, homogeneous boards, if one member decides an investment is a good idea, the rest of the board is not large or varied enough to argue.
- In order to avoid becoming victims of the next Bernie Madoff, charities ought to enlarge and diversify their boards.
Facts & Figures
- The study used a list of 150 charities linked to Bernie Madoff.
- Of the 105 organizations that lost at least 30% of their assets, 38 had one or two trustees listed on their tax forms, and 46 had three or four.
- Only 16 of the 105 organizations had five or more members on their boards.
Best Quote
“We think part of what’s going on here is small, homogeneous boards where someone knew someone who trusted Bernie Madoff and that was enough. But it’s not enough to allow Uncle George or Grandpa to say Bernie’s a good guy and make an investment.” – Aaron Dorfman, Executive Director of the National Committee for Responsive Philanthropy
How Much Power Should We Give The Fed?
Tuesday, August 18th, 2009How big should government be? Below, the Fed chairman’s arguments for why, when it comes to consumer protection, bigger is better.
- Federal Reserve chairman Ben S. Bernanke has been spurring debate about the Fed’s proper role, arguing that it is necessary to give the government more authority.
- Bernanke wants the Fed to maintain control over consumer lending, an opinion which differs from the policies of the Obama administration.
- Many officials are skeptical of this plan, arguing that the government is already spread too thin, and that it cannot possibly become a successful systemic risk regulator.
Facts & Figures
- Bernanke’s plan requires the government to examine the possible dangers posed not just by companies themselves, but by their connections to other corporations.
- The Fed would also require big corporations to keep debt low or capital high, restricting them to a manageable size and increasing competition.
- The government would be granted the authority to seize any institution it deemed too great a danger to the financial system.
Best Quote
“…[T]here’s got to be somebody who is responsible not just for monitoring the health of individual institutions, but somebody who’s monitoring the systemic risks of the system as a whole. And we believe the Fed has the most technical expertise and the best track record in terms of doing that.” – Barack Obama
A Grantmaker is…
Monday, August 17th, 2009A grantmaker is a person or an organization that donates money (in the form of grants) to a charitable organization. It’s basically synonymous with donor and can refer to foundations or corporate giving programs donating huge amounts of money, or a just a regular person making a minor donation to a local charity.
A Board of Directors is…
Monday, August 17th, 2009A Board of Directors is a group of individuals elected by the shareholders of a company to represent the interests of the shareholders and also to govern the affairs of a corporation. The Board is an overseer not a manager of the corporation.
Inheritance is…
Tuesday, August 11th, 2009Inheritance is the transfer of property, money, or other assets by law upon the death of an individual. For example, if a relative includes you in their will and then passes away, you may inherit money, a home, or maybe a car or some art that belonged to them.