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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, June 26, 2008
SAF Files Lawsuit Challenging Chicago's Handgun Ban
Comtex
BELLEVUE, Wash., June 26, 2008 /PRNewswire-USNewswire via COMTEX/ ----Following Thursday's 5-4 ruling by the U.S. Supreme Court in the case of District of Columbia v. Heller that the Second Amendment protects an individual civil right to keep and bear arms, and that a municipal gun ban violates that right, the Second Amendment Foundation (SAF) and the Illinois State Rifle Association (ISRA) filed a federal lawsuit challenging the City of Chicago's long-standing handgun ban. The case is McDonald v. City of Chicago.
"Chicago's handgun ban has failed to stop violent crime," SAF founder Alan Gottlieb stated. "It's time to give the Constitution a chance."
In addition to SAF and ISRA, plaintiffs include Chicago residents Otis McDonald, a retiree who has been working with police to rid his neighborhood of drug dealers, and who wants to have a handgun at his home; Adam Orlov, a former Evanston police officer; software engineer David Lawson and his wife, Colleen, a hypnotherapist, whose home has been targeted by burglars. Attorney Alan Gura, who argued the District of Columbia challenge before the high court, and Chicago area attorney David G. Sigale, represent the plaintiffs.
"Our goal," Gura said "is to require state and local officials to respect our Second Amendment right to keep and bear arms. Chicago's handgun ban, and some of its gun registration requirements, are clearly unconstitutional."
"The right to defend our homes and families against those who would do them harm, whether a random criminal, violent ex-domestic partner, or other wrongdoer, is one of the principles upon which America was founded," Sigale said. "It is time the City of Chicago trust its honest, law-abiding residents with this Constitutional right."
"Chicago's registration scheme cries out for common-sense reform," ISRA Executive Director Richard Pearson added.
Under the gun law currently in place, firearms must be re-registered annually.
"Each time," Gura said, "a tax is imposed, forms must be filled out, photographs submitted. A person who owns more than one gun will find herself or himself constantly in the process of registering each gun as it comes due for expiration. If registration is to be required, once is enough."
He further noted that Chicago's bizarre requirement that guns be registered before they are acquired often times makes registration impossible. The penalty for failure to comply with the registration scheme is that a gun not re-registered on time can never be registered again. Gura likened it to a requirement to dispose of a car if it is not re-registered on time with the Department of Motor Vehicles.
Find out more by visiting: www.chicagoguncase.com
The Second Amendment Foundation ( www.saf.org ) is the nation's oldest and largest tax-exempt education, research, publishing and legal action group focusing on the Constitutional right and heritage to privately own and possess firearms. Founded in 1974, the Foundation has grown to more than 600,000 members and supporters and conducts many programs designed to better inform the public about the consequences of gun control.
SOURCE Second Amendment Foundation
http://www.saf.org
Copyright (C) 2008 PR Newswire. All rights reserved
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