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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 02, 2008
Western Union Disappointed by Court Ruling
Comtex
ENGLEWOOD, Colo., Jul 02, 2008 (BUSINESS WIRE) ----The Western Union Company (NYSE: WU) announced today that a ruling was released yesterday afternoon by the Arizona Court of Appeals that overturns some of an Arizona trial court's 2007 decision in favor of the company concerning the authority of the Arizona Attorney General to seize certain money transfers originated outside Arizona and intended for payment in Mexico.
Western Union is concerned by the Court of Appeals ruling and is investigating all opportunities to contest it, including an appeal. The company remains committed to acting in the best interests of its customers and in full compliance with law.
About Western Union
Western Union, together with its affiliates Orlandi Valuta and Vigo, is a leading provider of global money-transfer services, providing people with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of more than 345,000 Agent locations in over 200 countries and territories. For more information, visit www.WesternUnion.com.
WU-G, WU-F
SOURCE: The Western Union Company
The Western Union Company Media Daniel Diaz, 720-332-5564 Daniel.Diaz@westernunion.com or Investors Gary Kohn, 720-332-8276 Gary.Kohn@westernunion.com
Copyright Business Wire 2008 ********************************************************************** As of Saturday, 06-28-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 04-23-2008 for WU @ $22.35. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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