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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.
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FEDERAL FUNDS A common term for Federal Reserve deposits held by commercial banks, especially when these deposits are loaned between banks through the Federal funds market. The interest rate charged for these interbank loans is termed the Federal funds rate. Federal funds are used by individual banks to meet reserve requirements and the total held by the banking system is manipulated by the Federal Reserve System in the conduct of monetary policy.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a large green chalkboard shaped like the state of Maine or a replacement battery for your pocket calculator. Be on the lookout for attractive cable television service repair people.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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BACS
Bankers Automated Clearing Services
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