A U.S. government program under the Obama administration that allowed individuals to trade in used vehicles that did not meet government-specified standards of fuel economy in exchange for a discount of either $3,500 or $4,500 off the purchase or five-plus-year lease of a newer, more fuel efficient vehicle. The program began on July 1, 2009, and ended shortly thereafter because it became so popular that funds quickly ran out. Commonly known as "Cash for Clunkers," the program's stated purposes were to reduce air pollution, to stimulate consumer spending and to prop up struggling U.S. auto manufacturers (though the program did allow the purchase of foreign vehicles). Ultimately, consumers traded in as estimated 680,000 vehicles. Car dealers were required to crush or shred the trade-in vehicles.
1. A recommendation to purchase a specific security. 2. To acquire an asset in exchange for currency. Taobiz explains Buy Exact definitions vary by brokerage, but in general this rating is better than neutral but worse than strong buy.
A victory or success that comes at the expense of great losses or costs. In business, examples of such a victory could be succeeding at a hostile takeover bid or winning a lengthy and expensive lawsuit. In 2001, Microsoft won a Pyrrhic victory in its antitrust case when the Appeals Court decided the software giant was not to be broken up. However, Microsoft was still branded a monopoly and was subject to other punishment. The expression alludes to the Greek King Pyrrhus who, after defeating the Romans in battle, stated: "If we win another such battle against the Romans, we will be completely lost."
An interest-earning bank account with which the customer is permitted to write drafts against money held on deposit. Also known as a "NOW account". |||Typically commercial banks, mutual-savings banks and savings-and-loan associations can offer this type of account to individuals, some nonprofit organizations and certain governmental units.
A gift made by an individual or an organization to a nonprofit organization, charity or private foundation. Charitable donations are commonly in the form of cash, but can also take the form of real estate, motor vehicles, appreciated securities, clothing and other assets or services. Charitable donations often represent the primary source of funding for many charitable organizations and nonprofit organizations. In most countries, a charitable donation made by an individual will provide him or her with an income tax deduction.
A loan provided to a brokerage firm and used to finance margin accounts. The interest rate on a call loan is calculated daily. The resulting interest rate is referred to as the call loan rate. Taobiz explains Call Loan Call loans use securities as collateral for the loan. It is important to note that a call loan can be canceled at any time.
An illegal investment scam based on a hierarchical setup. New recruits make up the base of the pyramid and provide the funding, or so-called returns, given to the earlier investors/recruits above them. A pyramid scheme is initiated by an individual or a company that starts recruiting investors with an offer of guaranteed high returns. As the scheme begins, the earliest investors do receive a high rate of return, but these gains are paid for by new recruits and are not a return on any real investment. From the day the scam is initiated, a pyramid scheme’s liabilities exceed its assets. The only way it can generate wealth is by promising extraordinary returns to new recruits; the only way these returns can be paid is by getting additional investors. Invariably these schemes lose steam and the pyramid collapses.
A certificate of deposit with a minimum face value of $100,000. These are guaranteed by the bank and can usually be sold in a highly liquid secondary market, but they cannot be cashed-in before maturity. |||Due to their large denominations, NCDs are bought most often by large institutional investors. Institutions often use these as a way to invest in a low-risk, low-interest security. A Yankee CD would be one example of a NCD.
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