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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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Wednesday, July 09, 2008
Great Florida Bank Opens 7 New Solution Centers Increasing Its Network of Locations to 28
Comtex
CORAL GABLES, Fla., Jul 09, 2008 (BUSINESS WIRE) ----Great Florida Bank (NASDAQ:GFLB), today announced that with the opening of its twenty-eighth Solution Center in Boca Raton they have completed an aggressive expansion begun six weeks ago. The expansion to twenty-eight Solution Centers increases the Bank's presence in Miami-Dade and Broward County and begins their emergence into Palm Beach County.
"Our seven new Solution Centers, including our first two in Palm Beach County, confirms the success of our brand, as well as, our belief that our unique approach to delivering innovative ideas and solutions in a relaxed environment will appeal to more and more South Floridians," said Great Florida Bank President and CEO Mehdi Ghomeshi. "We proudly celebrate this momentous accomplishment with our investors, loyal customers and hardworking associates, because it means the dream we all share, to create a truly innovative financial services company, has come true and continues to grow and flourish. We believe in connecting to people and to the communities in which we serve and look forward to introducing the Great Florida Bank experience to our new neighbors."
The seven new South Florida Solution Centers are as follows:
-- Coconut Creek - 6111 Lyons Road, Coconut Creek
-- Miami Blue Lagoon - 701 NW 57th Avenue, Miami
-- Plantation - 500 N. Pine Island Road, Plantation
-- Wilton Station - 1201 NE 26th Street, Wilton Manors
-- Sawgrass - 143 NW 136th Avenue, Sunrise
-- Boca Raton - 1956 NE 5th Avenue, Boca Raton
-- Boynton Beach West - 7410 W. Boynton Beach Boulevard, Boynton Beach
Unlike traditional bank branches with teller stations and queuing lines, Great Florida Bank Solution Centers feature comfortable, contemporary design elements, concierge-style service and no teller lines. Additionally, Great Florida Bank is one of the few community banks offering state-of-the-art products and services designed to make banking convenient by offering customers a choice of banking from their home or office, or visiting a Solution Center. These innovative solutions include GFB Mobile Money Manager for conducting all banking transactions via mobile device, GFB Text Messaging for account balance and transaction information, and GFB Remote Deposit, which allows customers to scan and deposit checks electronically to their Great Florida Bank checking account.
Building 7 Great Communities Campaign
To commemorate entering seven new neighborhoods, Great Florida Bank will determine how it can help make each community great with the launch of the 'Building 7 Great Communities Campaign'. The bank will identify five projects such as park beautification, street landscaping, neighborhood clean-up, etc. within each community and allow the public to vote on which GREAT enhancement project they would like to see in their respective community. Great Florida Bank has committed to fund each project with a $2,500 grant and GFB associates to help complete each project.
Great Florida Bank will be publicizing more information about the campaign in the coming weeks.
About Great Florida Bank
Great Florida Bank (NASDAQ:GFLB), headquartered in Coral Gables, Florida was established on June 30, 2004 as a state-charted commercial bank. The company listed on the NASDAQ Global Market on December 5, 2007 and joined the prestigious American Bankers Association Community Bank Index in June 2008. On March 31, 2008, total assets were $1.9 billion, Tier 1 Capital was $170 million, and the Tier 1 Leverage ratio was 10.73% -- 115% above the federal regulatory definition of a "Well Capitalized Bank". As of July 2008, twenty-eight (28) Solution Centers are located throughout Miami-Dade, Broward and Palm Beach County. The company is committed to providing ideas and solutions to its customers' financial needs by conveniently delivering personalized, state-of-the-art products and services in a relaxed environment, such as GFB Mobile Banking for individual consumers and cash management clients and GFB Remote Deposit. For further information, visit our website at www.greatfloridabank.com or call 866-514-6900. Member FDIC.
SOURCE: Great Florida Bank
Great Florida Bank, Coral Gables Terrence L. Brown, Chief Marketing Officer, 305-514-6433 tbrown@greatfloridabank.com
Copyright Business Wire 2008
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