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Vincent Kosuga
Vincent W. Kosuga (January 17, 1915 – January 19, 2001) was an American onion farmer and commodity trader best known for manipulating the onion futures market. Public outcry over his practices led to the passing of the Onion Futures Act, which banned the trading of futures contracts on onions. Personal life The son of a Russian Jew who converted to Catholicism, Kosuga was a devout Catholic. He donated a significant amount of his fortune to the church, and was rewarded with private audiences with three popes. Kosuga carried a .38 caliber pistol and a billy club with him at all times. He drove stock cars in his spare time and was a licensed pilot. He once survived a plane crash near Oswego, New York when the plane he was flying ran out of fuel mid-flight. He was left in a body cast after the crash, but made a quick recovery. Farming Born and raised in Pine Island, New York, Kosuga owned a black dirt farm where he grew onions, celery, and lettuce. His customers included the U.S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pine Island, New York
Pine Island is a hamlet in the town of Warwick in Orange County, New York, United States. It is the largest community in the Black Dirt Region, which is famous for its "black dirt onions." It gets its name from its slight elevation over the surrounding land. In the days before the nearby Wallkill River was rerouted to control flooding, it would often be an actual island for a period in the spring. History Pine Island is known for its black dirt. This rich soil is the result of constant flooding during the retreat of glaciers during the last ice age, about 12,000 years ago. The "muck," as it was called, plastered shallow lakes that today make up the fields, or "flats." Much the same as a peat bog, these areas are known for their prolific fossil production, particularly those of ancient mastodons. Into the 1800s the swamps still lingered, surrounding what is greater Pine Island. It was then that these lakes were first drained to be utilized for their superior growing capabiliti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. Originally, the exchange was a non-profit organization. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy, Bryan Durkin is president. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME, CBOT, NYMEX, and COMEX are now markets owned by CME Group. After the merger, the value of the CME quadrupled in a two-year span, with a market cap of over $25 billion. Today, CME is the largest options and futures con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United States
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point of federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." The court holds the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution. It is also able to strike down presidential directives for violating either the Constitution or statutory law. However, it may act only within the context of a case in an area of law over which it has jurisdiction. The court may decide cases having political overtones, but has ruled that it does not have power to decide non-justiciable political questions. Established by Article Three of the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dwight D
Dwight may refer to: People * Dwight (given name) * Dwight D. Eisenhower (1890–1969), 34th president of the United States and former military officer *New England Dwight family of American educators, military and political leaders, and authors * Ed Dwight (born 1933), American test pilot, participated in astronaut training program * Mabel Dwight (1875–1955), American artist * Elton John (born Reginald Dwight in 1947), English singer, songwriter and musician Places Canada * Dwight, Ontario, village in the township of Lake of Bays, Ontario United States * Dwight (neighborhood), part of an historic district in New Haven, Connecticut * Dwight, Illinois, village in Livingston and Grundy counties * Dwight, Kansas, city in Morris County * Dwight, Michigan, an unincorporated community * Dwight, Nebraska, village in Butler County * Dwight, North Dakota, city in Richland County * Dwight Township, Livingston County, Illinois * Dwight Township, Michigan Institutions * Dwight Correctional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Futures Trading
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the ''forward price''. The specified time in the future when delivery and payment occur is known as the ''delivery date''. Because it derives its value from the value of the underlying asset, a futures contract is a derivative. Contracts are traded at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be the long position holder and the selling party is said to be the short position holder. As both parties risk their counter-party reneging if the price goes against them, the contract may involve both parties lodging as security a margin of the value of the contract with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald Ford
Gerald Rudolph Ford Jr. ( ; born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was an American politician who served as the 38th president of the United States from 1974 to 1977. He was the only president never to have been elected to the office of president or vice president as well as the only president to date from Michigan. He previously served as the leader of the Republican Party in the House of Representatives, and was appointed to be the 40th vice president in 1973. When President Richard Nixon resigned in 1974, Ford succeeded to the presidency, but was defeated for election to a full term in 1976. Born in Omaha, Nebraska, and raised in Grand Rapids, Michigan, Ford attended the University of Michigan, where he was a member of the school's football team, winning two national championships. Following his senior year, he turned down offers from the Detroit Lions and Green Bay Packers, instead opting to go to Yale Law School. After the attack on Pearl Harbor, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Committee On Agriculture
The U.S. House Committee on Agriculture, or Agriculture Committee is a standing committee of the United States House of Representatives. The House Committee on Agriculture has general jurisdiction over federal agriculture policy and oversight of some federal agencies, and it can recommend funding appropriations for various governmental agencies, programs, and activities, as defined by House rules. History of the committee The Agriculture Committee was created on May 3, 1820, after Lewis Williams of North Carolina sponsored a resolution to create the committee and give agricultural issues equal weight with commercial and manufacturing interests. The committee originally consisted of seven members, from the states of Maryland, New Hampshire, New York, Pennsylvania, South Carolina, Vermont, and Virginia. Thomas Forrest of Pennsylvania was the first chairman. The Agriculture Committee remained a seven-member body until 1835, when two more members were added. It was not until 1871 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate Committee On Agriculture, Nutrition And Forestry
The Committee on Agriculture, Nutrition, and Forestry is a committee of the United States Senate empowered with legislative oversight of all matters relating to the nation's agriculture industry, farming programs, forestry and logging, and legislation relating to nutrition, home economics, and rural development. The current Chair is Democrat Debbie Stabenow of Michigan, and the Ranking Member is Republican John Boozman of Arkansas. History Founded in 1825 the Committee was formed at the request of Senator William Findlay from Pennsylvania. Arguing that agriculture was as important to national progress as commerce and manufacturing, Findlay succeeded in persuading the full Senate to divide the Committee on Commerce and Manufactures into two separate committees. The Committee on Agriculture was formed by resolution on December 9, 1825. During the first four decades of the existence of this committee, the need for it was repeatedly called into question. At that time in America, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Exchange Authority
The Commodity Exchange Authority was a former regulatory agency of USDA The United States Department of Agriculture (USDA) is the federal executive department responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food. It aims to meet the needs of com .... It was established to administer the Commodity Exchange Act of 1936; it was the predecessor to the Commodity Futures Trading Commission (CFTC). References * {{authority control United States Department of Agriculture United States federal commodity and futures law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speculative Attack
In economics, a speculative attack is a precipitous selling of untrustworthy assets by previously inactive speculators and the corresponding acquisition of some valuable assets (currencies, gold). The first model of a speculative attack was contained in a 1975 discussion paper on the gold market by Stephen Salant and Dale Henderson at the Federal Reserve Board. Paul Krugman, who visited the Board as a graduate student intern, soon adapted their mechanism to explain speculative attacks in the foreign exchange market.Paul Krugman (1979), 'A model of balance-of-payments crises'. ''Journal of Money, Credit, and Banking'' 11, pp. 311-25. There are now many hundreds of journal articles on financial speculative attacks, which are typically grouped into three categories: first, second, and third generation models. Salant has continued to explore real speculative attacks in a series of six articles. How it works A speculative attack in the foreign exchange market is the massive and sudde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short (finance)
In finance, being short in an asset means investing in such a way that the investor will profit if the value of the asset falls. This is the opposite of a more conventional "long" position, where the investor will profit if the value of the asset rises. There are a number of ways of achieving a short position. The most fundamental method is "physical" selling short or short-selling, which involves borrowing assets (often securities such as shares or bonds) and selling them. The investor will later purchase the same number of the same type of securities in order to return them to the lender. If the price has fallen in the meantime, the investor will have made a profit equal to the difference. Conversely, if the price has risen then the investor will bear a loss. The short seller must usually pay a fee to borrow the securities (charged at a particular rate over time, similar to an interest payment), and reimburse the lender for any cash returns such as dividends that were due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time (magazine)
''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published Weekly newspaper, weekly, but starting in March 2020 it transitioned to every other week. It was first published in New York City on March 3, 1923, and for many years it was run by its influential co-founder, Henry Luce. A European edition (''Time Europe'', formerly known as ''Time Atlantic'') is published in London and also covers the Middle East, Africa, and, since 2003, Latin America. An Asian edition (''Time Asia'') is based in Hong Kong. The South Pacific edition, which covers Australia, New Zealand, and the Pacific Islands, is based in Sydney. Since 2018, ''Time'' has been published by Time USA, LLC, owned by Marc Benioff, who acquired it from Meredith Corporation. History ''Time'' has been based in New York City since its first issue published on March 3, 1923, by Briton Hadden and Henry Luce. It was the first weekly news magazine in the United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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