31.   Sharp swings in fortune, after all, are the nature of the commodities businesses in which Phibro specializes.

32.   Such brand-name products typically carry higher profits than the commodity paper business.

33.   That makes an information business fundamentally different from any commodity business where the product is a physical object.

34.   The business unit once housed the profitable commodity trading business that Enron sold last month to the Swiss investment bank UBS Warburg.

35.   The company has tried to improve revenues with bold moves like trying to focus on services and software and scaling back in commodity businesses like hard drives.

36.   The business unit once included the commodity trading business Enron sold last month to the Swiss investment bank UBS Warburg.

37.   The CSCE is racing to please its members -- and preserve itself -- amid a far-reaching consolidation in the commodity futures business.

38.   The fixed-income business is more and more a commodity business.

39.   The margin shrinkage that they envision happens in all commodity businesses.

40.   The move eliminates J. Aron -- one of the best-known names in the commodities business -- as a separate company.