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LEVERAGED BUYOUT: A method of corporate takeover or merger popularized in the 1980s in which the controlling interest in a company's corporate stock was purchased using a substantial fraction of borrowed funds. These takeovers were, as the financial-types say, heavily leveraged. The person or company doing the "taking over" used very little of their own money and borrowed the rest, often by issuing extremely risky, but high interest, "junk" bonds. These bonds were high-risk, and thus paid a high interest rate, because little or nothing backed them up.
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ARC ELASTICITY The average elasticity for discrete changes in two variables. The distinguishing characteristic of arc elasticity is that percentage changes are calculated based on the average of initial and ending values of each variable, rather than initial values. Arc elasticity is generally calculated using the midpoint elasticity formula. The contrast to arc elasticity is point elasticity. For infinitesimally small changes in two variables, arc elasticity is the same as point elasticity.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for the happiest person in the room.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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Bank Note
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