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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, June 16, 2008
Cognex Names Robert Willett President of Its Modular Vision Systems Division
Comtex
NATICK, Mass., Jun 16, 2008 (BUSINESS WIRE) ----Cognex Corporation (NASDAQ: CGNX) announced that Robert Willett joined the company today as President of its Modular Vision Systems Division (MVSD). Mr. Willett will report to Cognex Chairman and CEO, Dr. Robert J. Shillman.
As President of MVSD, Mr. Willett will oversee the largest operating division at Cognex which generates nearly 90% of the company's annual revenue. The Modular Vision Systems Division designs, develops and manufactures vision systems, sensors, and ID readers that are used to automate the manufacture of a wide range of discrete products and to assure their quality.
Mr. Willett comes to Cognex from Danaher Corporation (NYSE:DHR), a diversified manufacturer of industrial controls and technologies with annual revenues of more than $10 billion. At Danaher, Mr. Willett served as Group Vice President of Business Development and Innovation for the Product Identification business group. Prior to that, Mr. Willett was President of Videojet Technologies, a large subsidiary of Danaher and a market leader in coding and marking products. Mr. Willett joined Danaher after serving as CEO of Willett International Ltd., a global coding and marking company that he sold to Danaher in 2003, and which was merged into Videojet.
"Over the last twelve months, Cognex has made a number of internal changes to refocus our product development and sales efforts, and those changes have put us back on a fast growth track," said Dr. Robert J. Shillman, Chairman and CEO of Cognex. "Our business is doing very well right now, but in order to grow to $500 Million in annual revenue, we will need additional energy, brainpower and leadership skills, and that's why we brought Rob on board."
Dr. Shillman continued, "Rob is a highly intelligent and hard working individual with an impressive track record of growing and managing technology businesses....most of them larger than Cognex. In addition, his background in identifying and integrating acquisitions around the world will help accelerate our international growth, particularly in emerging regions such as China, India, Brazil and Russia."
Mr. Willett commented, "I have known and admired Cognex throughout my career in product identification, and I am very excited by the opportunity to help drive the company's future growth. Machine vision is a field with tremendous potential, and I look forward to leveraging Cognex's technology and industry leadership to both expand the currently-served market and to explore profitable growth opportunities in new markets."
About Cognex
Cognex Corporation designs, develops, manufactures and markets machine vision sensors and systems, or devices that can "see." Cognex vision sensors are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality. Cognex is the world's leader in the machine vision industry, having shipped more than 400,000 machine vision systems, representing over $2 billion in cumulative revenue, since the company's founding in 1981. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices and distributors located throughout North America, Japan, Europe, Asia and Latin America. Visit Cognex on-line at http://www.cognex.com.
SOURCE: Cognex Corporation
Cognex Corporation Robin Pratt, 508-650-3384 Sr. Manager, Corporate Communications robin.pratt@cognex.com
Copyright Business Wire 2008
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