Word: auction
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Dates: during 2000-2009
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...University offered $151,751,636 for all 48 acres of MTA land at a blind auction on June 29, but had to undergo financial verification before the sale could be completed, answering mandatory questions such as whether the University has ever filed for bankruptcy or been convicted of a felony...
Priceline, the company most renowned for reintroducing William Shatner to prime time, has come to represent both what is transformative and what is just plain annoying about the Web. Think of any overhyped Web term or concept: disintermediation. The auction economy. Virtual communities. Stupid TV spots. Priceline, based in Norwalk, Conn., is a poster child for these and other new- economy cliches, especially the one about how it doesn't need to make money today because it will make tons of it someday. Next year. Maybe...
...last week that prospect got more complicated for Priceline when major airline companies confirmed that they will invest in a website, to be called Hotwire, that will compete with Priceline to sell unused airline seats. Unlike Priceline, though, Hotwire will set prices rather than auction airline seats. The news, piled on top of weeks of dotcom doom, punished the stock, which finished the week...
Priceline must now make its reverse-auction process work with items like gasoline, packaged groceries and credit cards. Such products are worth just as much tomorrow as they are today, giving suppliers little incentive to dump inventory by partnering with Priceline. "The Priceline dilemma, if they can't secure partnerships, becomes one of increasing costs to them and decreasing benefits to their consumer," says Sam Peltzman of the Graduate School of Business at the University of Chicago...
Allston resident and former ACA President Ray Mallone, who was present at the auction, said the purchase will benefit Allston as well as Harvard...