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"For the first two weeks, I locked him into a conference room and I said, 'This is all about getting the mission on paper,' " Ms. White recalled. Read more...
Instagram Pictures Itself Making Money
"For the first two weeks, I locked him into a conference room and I said, 'This is all about getting the mission on paper,' " Ms. White recalled. Read more...
UK economy: a miraculous recovery – or a blip in a longer-term decline?
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London lags behind the capital of the north-east with a 5.2% increase, though it remains the most expensive region.
The forecast is that prices will soar over the next couple of years as the turnaround in Britain's economic fortunes begins to feed into the property market. Read more...
Business term of the day - Term for September 9, 2013: "Corporate Development"
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The World's Top 50 Leadership and Management Thinkers
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Personal Finance: Financial scams, new and old, try to trap consumers
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Some are seasonal, tied to what’s in the news, like Obamacare. Others are perennials that seem to sprout up regularly. Read more...
Analysis: How to make money off jobs report
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Friday's jobless report said the economy created 169,000 jobs in August, fewer than the 180,000 expected, and the unemployment rate fell to 7.3%, vs. 7.4% the previous month. Read more...
Business term of the day - Term for September 8, 2013: "corner the market"
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In finance, to corner the market is to get sufficient control of a particular stock, commodity, or other asset to allow the price to be manipulated. Another definition: "To have the greatest market share in a particular industry without having a monopoly. Companies that have cornered their markets usually have greater leeway in their decisions; for example, they may charge higher prices for their products without fear of losing too much business. Large companies, such as Wal-Mart or Microsoft, are considered to have cornered their markets." In either case, the cornerer hopes to gain control of enough of the supply of the commodity to be able to set the price for it.
This can be done through several mechanisms. The most direct strategy is to simply buy up a large percentage of the available commodity offered for sale in some spot market and hoard it. With the advent of futures trading, a cornerer may buy a large number of futures contracts on a commodity and then sell them at a profit after inflating the price.
Although there have been many attempts to corner markets by massive purchases in everything from tin to cattle, to date very few of these attempts have ever succeeded; instead, most of these attempted corners have tended to break themselves spontaneously. Indeed, as long ago as 1923, Edwin Lefèvre wrote, "very few of the great corners were profitable to the engineers of them." A cornerer can become vulnerable due to the size of the position, especially if the attempt becomes widely known. If the rest of the market senses weakness, it may resist any attempt to artificially drive the market any further by actively taking opposing positions. If the price starts to move against the cornerer, any attempt by the cornerer to sell would likely cause the price to drop substantially. In such a situation, many other parties could profit from the cornerer's need to unwind the position.
More success in cornering the market has come by gaining a near-monopoly share in industries such as computers (like IBM), smartphones (like Apple), and software (like Microsoft).
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