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AMERICAN FEDERATION OF LABOR: Started as a collection of craft unions in 1886, this is now one half of the umbrella organization for labor unions in the United States (the AFL part of AFL-CIO). As a collection of craft unions, the AFL primarily represented skilled workers in particular occupations. However, it also contained unions representing unskilled industrial workers, which led to a rift among AFL members in 1938 and spawned the formation of the Congress of Industrial Organizations (CIO). This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States.
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MERGER The consolidation of two or more separately-owned businesses under single ownership. Mergers fall into one of three classes--(1) horizontal between firms that sell competing products in the same market, (2) vertical between firms in different stages of the production of one good, and (3) conglomerate between firms that are in separate industries. Because horizontal mergers tend to reduce competition, they are most likely to be scrutinized by government. Mergers are one of several behavioral inclinations of oligopoly. A related oligopolistic behavior is collusion.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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ACV
Actual Cash Value
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