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Great Salad Oil Swindle
''The Great Salad Oil Swindle'' is a book by ''Wall Street Journal'' reporter Norman C. Miller about Tino De Angelis, a New Jersey-based wholesaler and commodities trader who dealt in vegetable oil futures contracts. The book was published in 1965 by Coward McCann. Overview In 1963, De Angelis was responsible for the Salad Oil scandal, a major financial racket involving fraudulent warehouse receipts, when he attempted to corner the soybean oil market. Soybean oil is an ingredient of salad dressing and has many other uses. In the aftermath of the scandal, 51 investors were swindled out of approximately $175 million ($1.4 billion in 2018 dollars). Recognition Miller was awarded the Pulitzer Prize The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made ... in 1964 for his reporting of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norman C
Norman or Normans may refer to: Ethnic and cultural identity * The Normans, a people partly descended from Norse Vikings who settled in the territory of Normandy in France in the 10th and 11th centuries ** People or things connected with the Norman conquest of southern Italy in the 11th and 12th centuries ** Norman dynasty, a series of monarchs in England and Normandy ** Norman architecture, romanesque architecture in England and elsewhere ** Norman language, spoken in Normandy ** People or things connected with the French region of Normandy Arts and entertainment * ''Norman'' (film), a 2010 drama film * '' Norman: The Moderate Rise and Tragic Fall of a New York Fixer'', a 2016 film * ''Norman'' (TV series), a 1970 British sitcom starring Norman Wisdom * ''The Normans'' (TV series), a documentary * "Norman" (song), a 1962 song written by John D. Loudermilk and recorded by Sue Thompson * "Norman (He's a Rebel)", a song by Mo-dettes from ''The Story So Far'', 1980 Businesses * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Futures Contract
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the ''forward price''. The specified time in the future when delivery and payment occur is known as the ''delivery date''. Because it derives its value from the value of the underlying asset, a futures contract is a derivative. Contracts are traded at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be the long position holder and the selling party is said to be the short position holder. As both parties risk their counter-party reneging if the price goes against them, the contract may involve both parties lodging as security a margin of the value of the contract with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1965 Non-fiction Books
Events January–February * January 14 – The Prime Minister of Northern Ireland and the Taoiseach of the Republic of Ireland meet for the first time in 43 years. * January 20 ** Lyndon B. Johnson is Second inauguration of Lyndon B. Johnson, sworn in for a full term as President of the United States. ** Indonesian President Sukarno announces the withdrawal of the Indonesian government from the United Nations. * January 30 – The Death and state funeral of Winston Churchill, state funeral of Sir Winston Churchill takes place in London with the largest assembly of dignitaries in the world until the 2005 funeral of Pope John Paul II. * February 4 – Trofim Lysenko is removed from his post as director of the Institute of Genetics at the Russian Academy of Sciences, Academy of Sciences in the Soviet Union. Lysenkoism, Lysenkoist theories are now treated as pseudoscience. * February 12 ** The African and Malagasy Republic, Malagasy Common Organization ('; OCA ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Books About Traders
A book is a medium for recording information in the form of writing or images, typically composed of many pages (made of papyrus, parchment, vellum, or paper) bound together and protected by a cover. The technical term for this physical arrangement is '' codex'' (plural, ''codices''). In the history of hand-held physical supports for extended written compositions or records, the codex replaces its predecessor, the scroll. A single sheet in a codex is a leaf and each side of a leaf is a page. As an intellectual object, a book is prototypically a composition of such great length that it takes a considerable investment of time to compose and still considered as an investment of time to read. In a restricted sense, a book is a self-sufficient section or part of a longer composition, a usage reflecting that, in antiquity, long works had to be written on several scrolls and each scroll had to be identified by the book it contained. Each part of Aristotle's ''Physics'' is called a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pulitzer Prize
The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made his fortune as a newspaper publisher, and is administered by Columbia University. Prizes are awarded annually in twenty-one categories. In twenty of the categories, each winner receives a certificate and a US$15,000 cash award (raised from $10,000 in 2017). The winner in the public service category is awarded a gold medal. Entry and prize consideration The Pulitzer Prize does not automatically consider all applicable works in the media, but only those that have specifically been entered. (There is a $75 entry fee, for each desired entry category.) Entries must fit in at least one of the specific prize categories, and cannot simply gain entrance for being literary or musical. Works can also be entered only in a maximum of two categories, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salad Dressing
A salad dressing is a sauce for salads. Used on virtually all '' leafy salads'', dressings may also be used in making salads of beans (such as three bean salad), noodle or pasta salads and antipasti, and forms of potato salad. Salad dressings can be drizzled over a salad, added and tossed with the ingredients, offered on the side, or served as a dip, as with ''crudités'' or chicken wings. Types In Western culture, there are two basic types of salad dressing: * Vinaigrettes based on a mixture (emulsion) of olive or salad oil and vinegar, and variously flavored with herbs, spices, salt, pepper, sugar, and other ingredients such as poppy seeds or ground Parmesan cheese. * Creamy dressings, usually based on mayonnaise or fermented milk products, such as yogurt, sour cream ( crème fraîche, smetana), or buttermilk. In the United States, buttermilk-based ranch dressing is the most popular, with vinaigrettes and Caesar-style dressing following close behind. List Some ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soybean Oil
Soybean oil (British English: soyabean oil) is a vegetable oil extracted from the seeds of the soybean (''Glycine max''). It is one of the most widely consumed cooking oils and the second most consumed vegetable oil. As a drying oil, processed soybean oil is also used as a base for printing inks (soy ink) and oil paints. History Chinese records dating prior to 2000 BCE mention use of cultivated soybeans to produce edible soy oil. Ancient Chinese literature reveals that soybeans were extensively cultivated and highly valued as a use for the soybean oil production process before written records were kept. Production To produce soybean oil, the soybeans are cracked, adjusted for moisture content, heated to between 60 and 88 °C (140–190 °F), rolled into flakes, and solvent-extracted with hexanes. The oil is then refined, blended for different applications, and sometimes hydrogenated. Soybean oils, both liquid and partially hydrogenated are sold as "vegetable oil" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salad Oil Scandal
The salad oil scandal, also referred to as the soybean scandal, was an American major corporate scandal in 1963 that caused over $180 million ($ billion today) in losses to corporations including American Express, Bank of America and Bank Leumi, as well as many international trading companies. The scandal's ability to push otherwise cautious and conservative lenders into increasingly risky practices has prompted some comparisons to later financial crises including the 2007–2008 subprime mortgage crisis. The scandal involved the Allied Crude Vegetable Oil company in New Jersey in the United States, owned by Anthony "Tino" De Angelis, a former commodities broker. De Angelis had been in trouble with the law previously for supplying schools with beef from uncertified sources under the National School Lunch Act. Fraud De Angelis was awarded a contract with Food for Peace, a federal program which sold excess food stocks to poor countries. He discovered that he could obtain loans ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goodreads
Goodreads is an American social cataloging website and a subsidiary of Amazon that allows individuals to search its database of books, annotations, quotes, and reviews. Users can sign up and register books to generate library catalogs and reading lists. They can also create their own groups of book suggestions, surveys, polls, blogs, and discussions. The website's offices are located in San Francisco. Goodreads was founded in December 2006 and launched in January 2007 by Otis Chandler and Elizabeth Khuri Chandler. In December 2007, the site had 650,000 members and 10,000,000 books had been added. By July 2012, the site reported 10 million members, 20 million monthly visits, and thirty employees. On March 28, 2013, Amazon announced its acquisition of Goodreads, and by July 23, 2013, Goodreads announced their user base had grown to 20 million members. By July 2019, the site had 90 million members. History Founders Goodreads founders Otis Chandler and Elizabeth Khuri Chan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vegetable Oil
Vegetable oils, or vegetable fats, are oils extracted from seeds or from other parts of fruits. Like animal fats, vegetable fats are ''mixtures'' of triglycerides. Soybean oil, grape seed oil, and cocoa butter are examples of seed oils, or fats from seeds. Olive oil, palm oil, and rice bran oil are examples of fats from other parts of fruits. In common usage, vegetable ''oil'' may refer exclusively to vegetable fats which are liquid at room temperature. Vegetable oils are usually edible. Uses In antiquity Oils extracted from plants have been used since ancient times and in many cultures. Archaeological evidence shows that olives were turned into olive oil by 6000 BCE and 4500 BCE in present-day Israel and Palestine. In addition to use as food, fats and oils (both vegetable and mineral) have long been used as fuel, typically in lamps which were a principal source of illumination in ancient times. Oils may have been used for lubrication, but there is no evidence for this. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonfiction
Nonfiction, or non-fiction, is any document or media content that attempts, in good faith, to provide information (and sometimes opinions) grounded only in facts and real life, rather than in imagination. Nonfiction is often associated with being presented more objectively, like historical, scientific, or otherwise straightforward and accurate information, but sometimes, can be presented more subjectively, like sincerely held beliefs and thoughts on a real-world topic. One prominent usage of nonfiction is as one of the two fundamental divisions of narrative (storytelling)—often, specifically, prose writing—in contrast to narrative fiction, which is largely populated by imaginary characters and events, though sometimes ambiguous regarding its basis in reality. Some typical examples of nonfiction include diaries, biographies, news stories, documentary films, textbooks, travel books, recipes, and scientific journals. While specific claims in a nonfiction work ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodities Trading
A commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodity market for centuries for price risk management. A financial derivative is a financial instrument whose value is derived from a commodity termed an underlier. Derivatives are either exchange-traded or over-the-counter (OTC). An increasing number of derivatives are traded via clearing houses some with central counterparty clearing, which provide clearing and settlement services on a futures exchange, as well as off-exchange in the OTC market. Derivatives such as futures contracts, Swaps (1970s-), Exchange-traded Commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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