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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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Thursday, May 15, 2008
CIT to Present at the Lehman Brothers 11th Annual Financial Services Conference on May 20, 2008
Comtex
NEW YORK, May 15, 2008 (BUSINESS WIRE) ----CIT Group Inc (NYSE: CIT), a leading global commercial finance company, announced today that Jeffrey M. Peek, Chairman and Chief Executive Officer, will participate in the Lehman Brothers 11th Annual Financial Services Conference on Tuesday, May 20, 2008, in London. The presentation is scheduled for 5:50 AM EDT (10:50 AM BST).
A live webcast of the presentation, in addition to the accompanying slides, will be available on CIT's Investor Relations web site at http://ir.cit.com. To view the presentation and listen to the live event, log on to the website approximately 15 minutes prior to the event to register and to download and install any necessary audio software.
A replay of the presentation will be available shortly following the event until 11:59 PM EDT on June 3, 2008. A copy of the presentation slides will also be accessible on CIT's website.
Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com.
About CIT
CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $80 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com
SOURCE: CIT Group Inc
CIT Media Relations: C. Curtis Ritter, 212-461-7711 Director of External Communications & Media Relations curt.ritter@cit.com or CIT Investor Relations: Ken Brause, 212-771-9651 Executive Vice President and Director - Investor Relations ken.brause@cit.com
Copyright Business Wire 2008
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