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The overnight market is the component of the money market involving the shortest term loan. The overnight market is primarily used by banks and other financial institutions. Lenders agree to lend borrowers funds only "overnight", i.e., the borrower must repay the borrowed funds plus interest at the start of business the next day. [1]
The predetermined price of the contract is known as the forward price or delivery 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.
James Herbert "Jack" Knight (March 14, 1892 – February 24, 1945) was an American pilot who made the first overnight transcontinental air mail delivery. Knight was part of an airmail relay team that flew 2,629 miles across the United States on February 22–23, 1921 in an effort to show that the airmail service was much faster than the railroads.
LSO, originally known as Lone Star Overnight, is an Austin, Texas-based regional shipping carrier that focuses on Express next day delivery, utilizing both air and ground transportation in Texas, southeastern New Mexico, certain metro markets in Oklahoma, Louisiana, Arkansas, Alabama and Tennessee, as well as northern Mexico.
Frederick Smith was born in Marks, Mississippi, the son of James Frederick "Fred" Smith, the founder of the Toddle House restaurant chain and the Smith Motor Coach Company (renamed the Dixie Greyhound Lines after The Greyhound Corporation bought a controlling interest in 1931). [3]
OnTrac Logistics, Inc. was a privately held logistics company that contracted regional shipping services in the Western United States. In 2021 OnTrac Logistics was acquired by east coast delivery firm LaserShip for $1.3 billion, the combined business was later rebranded back to OnTrac.
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