Buzzword that describes the greed of corporate executives who use underhanded tactics to siphon off wealth at the expense of shareholders. This buzzword is attributed to how ex-Hollinger CEO, Conrad Black, and his fellow associates allegedly embezzled hundreds of millions of dollars over a seven-year period from Hollinger. Black's misuse of company funds was quite blatant. In fact, it was reported that Black and his wife lived a very extravagant lifestyle with company money. For example, reports indicated that Black used $1.4 million of Hollinger funds to pay for his personal butlers, maids and chefs.
An act of self-infringement upon market share by corporations through the issuance of new products. Also known as "market cannibalization". Watch: Corporate Cannibalism Corporate cannibalism occurs when companies introduce new products into a market where these products are already established. In effect, the new products are competing against their own incumbent products.
1. The act of securing enough controlling interest or ownership within a single security so that manipulation of price can occur. 2. A rare situation occurring in commodity markets wherein the quantity of underlying securities and commodities available are exceeded by the commitments of delivery quantities on future contracts. 1. When someone is said to have "cornered the market," he or she has gained significant power over the manipulation of quantity and price. 2. In other words, the obligations on future contracts to deliver a particular commodity greatly outweigh the actual amount of the commodity available. For example, a freak tornado sweeping through Hawaii and killing all pineapple crops would result in a corner. The tornado would drastically reduce the quantity of pineapples available for delivery against the delivery obligations of future contracts that were previously created.
To acquire enough shares of a particular security in order to manipulate its price. This is why people with significant interest in a particular stock are watched very closely by the Securities and Exchange Commission.
An investment that you plan on keeping in your portfolio for a very long period of time, sometimes permanently. Buying shares in General Electric and holding them for 30 or more years would be considered a core stock holding.
The main strengths or strategic advantages of a business. Core competencies are the combination of pooled knowledge and technical capacities that allow a business to be competitive in the marketplace. Theoretically, a core competency should allow a company to expand into new end markets as well as provide a significant benefit to customers. It should also be hard for competitors to replicate. A business just starting out will try to first identify - and then focus on - its core competencies, allowing it to establish a footprint while gaining a solid reputation and brand recognition. Using, and later leveraging, core competencies usually provides the best chance for a company's continued growth and survival, as these factors are what differentiate the company from competitors.The term "core competency" is relatively new. It originated in a 1990 Harvard Business Review article. In it, the authors suggest that business functions not enhanced by core competencies should be outsourced if economically feasible.
A trading strategy used in energy futures to establish a refining margin. By simultaneously purchasing crude oil futures and selling petroleum product futures, a trader is attempting to establish an artificial position in the refinement of oil, created through a spread.
The spread created in commodity markets by purchasing oil futures and offsetting the position by selling gasoline and heating oil futures. This investment alignment allows the investor to hedge against risk due to the offsetting nature of the securities. The name of this strategy is derived from the fact that "cracking" oil produces gasoline and heating oil. Therefore, oil refiners are able to generate residual income by entering into these transactions. During the summer of 2005, the effects of hurricanes in the Southeastern United States created large volatility in the crack spread.
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