Word: contractive
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...Chrysler are already running into trouble with the UAW, creditors,and suppliers as the two companies bargain to drop costs. The union says it gave plenty of concessions during the last set of contract negotiations. For cosmetic purposes, it may bend more but is probably willing to gamble that the government will not allow the two car companies to go into bankruptcy and force the loss of hundreds of thousand of jobs in an economy that is already battling rapidly rising unemployment...
...second-to-last trading day for the February 2009 contract at the New York Mercantile Exchange (NYMEX), oil settled with over a $22 spread between the February 2009 and February 2010 contracts. In other words, if a company bought oil on the February 2009 contract, stored it for a year and sold it on the February 2010 contract, it would make more than $22 per barrel, excluding the costs of the operation. This represents a greater than 60% gross return! Since interest, storage and delivery costs should amount to significantly less than the $22 spread, the venture would yield...
Since then, future oil prices have come closer together, averaging just over a dollar between contract months over the next year, or slightly more than the $1.02 per barrel per month price tag that Morgan Stanley had reportedly been negotiating in mid-January. The apparent correction is unlikely to have been caused directly by an institution like Morgan Stanley, but instead by a perception among traders that the average $1.25 spread between monthly contracts is reasonable. Of course, leasing a tanker is an extreme measure of storage, and the cost of storing at a more traditional location is much lower...
...order to make money from the arbitrage - and consequently correct the spread - a company would need capital and storage arrangements for the oil. A firm could borrow money to buy oil in the spot market or the front-month futures contract. More money would be needed to handle margin costs of a short contract in the futures market...
...receiving money for causing persons to cohabitate." The police called their news release "Human Trafficking." Martinez faces up to eight years in prison if convicted. Held in prison since his arrest, Martinez has pleaded not guilty. His sister-in-law insists that the police version of a marriage contract or sale of Martinez's daughter is not true...