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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Monday, May 19, 2008
Chicago Tribune's 'The Swamp' Wins EPpy Award
Comtex
CHICAGO, May 19, 2008 /PRNewswire via COMTEX/ ----Chicago Tribune's political blog "The Swamp" received a 2008 EPpy Award last week for Best News/Politics Blog. The awards were announced by Editor & Publisher and Mediaweek magazines during the Interactive Media Conference and Trade show in Las Vegas.
The Swamp, at www.chicagotribune.com/swamp, features blog entries, photos and video covering both local and national political news, from farm bills and gas prices to the current presidential election.
The EPpy Awards recognize the best media-affiliated Internet services and are determined by a team of distinguished media-industry judges. This year's contest featured more than 460 entries across 36 categories. Entries were judged based on design, usability, comprehensiveness and timeliness, with special attention to each entrant's value though unique interactive features.
"Our team has worked very hard to improve The Swamp, enhancing it with video and continually adding features," said Michael Tackett, Tribune's Washington bureau chief. "It is gratifying to see the work recognized, but even better to see our audience grow. (Reporters) Frank James and Mark Silva help to lead us on this, and everyone in the bureau is a contributor."
Chicago Tribune partner websites, Cars.com and Metromix, also won awards for Best Classified Web Site and Best Overall Design of a Website, respectively.
About Chicago Tribune Company
Chicago Tribune Media Group publishes the Pulitzer Prize-winning Chicago Tribune as well as related print and interactive media serving Chicagoland like RedEye, Hoy, Chicago Magazine, ShopLocal, chicagotribune.com, chicagosports.com and metromix.com.
SOURCE Chicago Tribune Media Group
http://chicagotribune.com/
Copyright (C) 2008 PR Newswire. All rights reserved
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