Word: auction
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Dates: during 2000-2009
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While the Treasury auction grabbed headlines, corporate bonds are doing equally amazing things: the average yield on lower-quality investment-grade corporate bonds - triple-B rated - is hovering around 10%, an unusually rich 7.5-percentage-point spread over Treasury bonds of similar maturity. (That spread has tripled over the past year.) Or consider junk bonds, as measured by Merrill Lynch's High Yield bond index, which yield a jaw-dropping 22%. Of course, junk bonds come from the riskiest borrowers, and a deep recession could drive up the default rate among those companies. But current lofty yields imply investor expectations...
...year run, but when eBay's slowdown began, she tried to buy her way out of the problem, acquiring companies like PayPal, Skype, Shopping.com and StubHub to generate growth. Many were profitable but distracting, as problems like lack of trust and shoddy search technology continued to ail the auction site, the main revenue driver. "Meg was reluctant to expand things like customer service because it would eat into eBay's margins," says Jeffrey Lindsay, senior analyst at Sanford C. Bernstein...
That's why Donahoe, a Whitman hire at both eBay and Bain, where he spent more than 20 years, eventually becoming its CEO, carried out a series of rapid-fire changes. He emphasized, for example, fixed-price sales over auctions and got his mitts on the hands-off approach that has defined eBay for years. Many wonder whether the 12-year-old auction giant will emerge with the same DNA once Dennis the Menace departs. "Donahoe has introduced more changes in the last six months than we've seen in the last six years," says Jack Sheng, chief executive...
Illinois Gov. Rod Blagojevich was arrested this week on the basis of a 76-page report detailing alleged corruption that included plans to auction off former Sen. Barack Obama’s vacated Senate seat to the highest bidder. Blagojevich has been recorded on tape spilling priceless gems that will contribute notably to Illinois’s heritage of thoroughly corrupt politics at all levels of government. Indeed, when all his deeds have finally been brought out, his tenure will no doubt stand as a milestone in the long and noble tradition of corrupt Illinoisans...
...MISS: Magnificent Jewels Sotheby's auction in New York of period pieces including emerald- and-diamond ear clips that once belonged to the Grand Duchess Vladimir of Russia and a diamond ring mounted by Boucheron that belonged to 19th century railroad magnate Jay Gould...