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ARBITRATION: Intervention of an impartial third party to settle disputes between two others. The decisions of this third party -- the arbitrator -- are legally binding, much like the ruling of a judge in a court of law. Arbitration is commonly used to interpret a collective bargaining agreement between unions and employers. Much like a judge (in some cases it is a judge) an arbitrator determines how a given union and employer conflict stacks up against the terms of existing agreement. Note that an arbitrator doesn't try to decide what's "best, "fair," or mutually agreeable to both sides -- as would be the case with mediation -- but only what's in line with the existing agreement.
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for deranged pelicans.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. " -- John Quincy Adams, 6th U. S. president
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CAPM
Capital Asset Pricing Model
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