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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
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Friday, July 04, 2008
FUNimation Entertainment Awarded Rights to Titles Previously Held by AD Vision
Comtex
FLOWER MOUND, Texas, July 4, 2008 /PRNewswire via COMTEX/ ----FUNimation Entertainment, a wholly owned subsidiary of the Navarre Corporation, and the ARM Corporation, announced today their agreement to transfer ARM's interest in select series to FUNimation. FUNimation Entertainment will distribute and release these DVD titles in North America and other territories around the world.
Under the terms of the deal, FUNimation Entertainment obtains varied rights to these titles including home video, broadcast, digital and merchandise to such international successes as "Devil May Cry" and "Guyver: The Bioboosted Armor TV". The complete list of acquired titles follows below:
-- 009-1 -- Ah! My Goddess: Flights of Fancy -- Air Gear -- Air movie -- Air TV -- Blade of the Phantom Master -- Comic Party Revolution -- Coyote Ragtime Show -- Devil May Cry -- Guyver: The Bioboosted Armor TV -- Jing, King of Bandits: Seventh Heaven -- Jinki: Extend -- Kanon -- Kyoshiro to Towa no Sora -- Le Chevalier D'Eon -- Magikano -- Moeyo Ken TV -- Moonlight Mile -- Murder Princess -- Nerima Daikon Brothers -- Pani Poni Dash! -- Project Blue Earth SOS -- Pumpkin Scissors -- Red Garden -- Sgt. Keroro 1st & 2nd -- Tokyo Majin -- UFO Princess Valkyrie -- Utawarerumono -- Venus Versus Virus -- The Wallflower -- Welcome to the NHK -- Xenosaga
"We are very enthusiastic about these titles," said Gen Fukunaga, president and CEO of FUNimation Entertainment. "Not only are these excellent series, but they also fuel FUNimation's major initiatives in social networking, the FUNimation Channel and internet VOD. These new titles cement FUNimation as the leading anime provider for television broadcast and legitimate online content. These shows allow us to increasingly provide the best anime to our fans on their own terms."
FUNimation Entertainment will begin releasing ARM titles later this year.
About FUNimation Entertainment
FUNimation(R) Entertainment, a wholly-owned subsidiary of Navarre Corporation, is the leading company for Japanese animation in the United States. FUNimation is known for acquiring top-rated anime series from Japan and for being the market share leader for home video sales of anime in the United States. The company has a proven formula for launching and advancing brands, and manages a full spectrum of rights for most of its brands including broadcasting, licensing, production, internet, and home video sales and distribution.
About Navarre Corporation
The Navarre Corporation is a publisher and distributor of physical and digital home entertainment and multimedia products, including PC software, DVD video, video games and accessories. Additional information is available at http://www.navarre.com.
About ARM Corporation
The ARM Corporation, a wholly-owned subsidiary of Japanese Contents Investment LPC (JCI) and formed by the Sojitz Corporation and other partners, was established to support the overseas licensing and distribution of Japanese anime. Sojitz is engaged in the investment of content creation, with a focus on Japanese animation, and its export and sale in overseas markets. The company currently handles over 100 anime titles in more than 30 markets worldwide.
SOURCE FUNimation Entertainment
http://www.funimation.com
Copyright (C) 2008 PR Newswire. All rights reserved
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