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HOLDING COMPANY: A company (usually a corporation) that owns enough stock in another corporation to exercise virtually complete control over its management. Holding companies often own controlling interest in several diverse corporations, allowing it to engage in diverse activities (some of which might be risky) while limiting its liability should problems arise. While holding companies exist in most types of industries, then tend to be quite popular in banking. Through a holding company, a bank can essentially take part in other financial markets (selling insurance, underwriting securities, or acting as a broker) that are beyond the legal authority of the bank itself.
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AVERAGE FIXED COST Total fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. When compared with price (per unit revenue), average fixed cost (AFC) indicates whether or not a profit-maximizing firm should shutdown production in the short run. Average fixed cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average variable cost. A related concept is marginal cost.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for celebrities who speak directly to you through your television.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe." -- Sir Winston Churchill
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FAC
Federal Advisory Council
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