Sales Tax
What is sales tax and why do we have it Sales tax is a tax levied on the sale of goods and services. The tax is generally imposed at the point of sale, and it is typically calculated as a percentage of the purchase price. Sales tax is usually imposed by the state in which the sale occurs, and the...
Savings Bond Plan
What is 'Savings Bond Plan' A program that allows employees to purchase U.S. savings bonds, such as the Series EE and Series I bonds, through payroll deductions. Money is set aside from each paycheck, and when enough money has accumulated, the company purchases a savings bond on the employee's behalf. Paper bonds are mailed directly to employees...
Sao Paolo Stock Exchange (SAO) .SA
What is 'Sao Paolo Stock Exchange (SAO) .SA' Based in Sao Paolo, Brazil, this exchange has the fourth-largest market cap in all of the Americas and the 13th largest in the world. It is also known as the BM&F Bovespa. The main index of this exchange is the Indice Bovespa. Explaining 'Sao Paolo Stock Exchange...
Samurai Bond
DefinitionA samurai bond is a yen-denominated bond issued in Tokyo by non-Japanese companies, and is subject to Japanese regulations. These bonds provide the issuer with an access to Japanese capital, which can be used for local investments or for financing operations outside Japan. Foreign borrowers may want to issue in Samurai market to hedge against foreign currency exchange risk....
Sandwich Lease
What is 'Sandwich Lease' A lease in which a party rents property from the property owner and then subsequently leases it out to another tenant. In a sandwich lease, the primary party is both a lessee and a lessor, meaning that the party both collects rent and pays rent. Not all property owners allow this sort of...
Satisficing
DefinitionSatisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met. The term satisficing, a portmanteau of satisfy and suffice, was introduced by Herbert A. Simon in 1956, although the concept was first posited in his 1947 book Administrative Behavior. Simon used satisficing to explain the behavior of decision...
Same-Day Substitution
What is 'Same-Day Substitution' An offsetting change in a margin account, made over the trading day, that results in no overall change in the value of the account. When a same-day substitution is made, a margin call is not generated. Explaining 'Same-Day Substitution' A same-day substitution happens when a rise in the market value of...
Sallie Mae (Student Loan Marketing Association)
What is 'Sallie Mae - Student Loan Marketing Association' Sallie Mae is a publicly traded company that is the largest provider of education loans in the United States, as of 2016. Along with providing student loans, Sallie Mae purchases student loans from original lenders and provides financing to state-based student-loan agencies. Explaining 'Sallie Mae - Student...
Sale Of Crown Jewels
What is 'Sale Of Crown Jewels ' A takeover-defense tactic that involves the sale of the target company's prized and most coveted assets - the "crown jewels" - so as to reduce its attractiveness to the hostile bidder. The sale of a company's best assets will leave it as a mere shadow of its former self. This is a type...
Satellite Operation
Satellite Operation What is 'Satellite Operation ' A small office in a different location from a company or government agency's main office. Reasons for opening a satellite operation may include reaching an underserved area, expanding market share and lifestyle/quality of life factors for employees. Satellite operations can be used in all kinds of businesses, such as...