Word: auction
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Dates: during 2000-2009
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...logos. Yue Minjun’s trademark is fashioning representations of his face while smiling (in every medium imaginable), and then, of course, there is the work of Zhang Xiaogang whose black-and-white paintings of 1950s era Chinese families have sold for upwards of US$2 million at auction. While these men are undoubtably the blue chip artists of today, they have not risen to the top without critical dissent...
...Good Story, Bad Taste I was impressed by Richard Lacayo's article on Britain's Damien Hirst and his $100 million Sotheby's auction [Sept. 15]. He is a great artist. TIME has, over the years, built itself a reputation of good story-writing and my family has been reading it for the past 20 years. I, a 13-year-old, have seen a flaw that has been bothering me for quite a while: the use of vulgar language (or evidence thereof). When I read TIME, I do not expect to read nonsense, and if I wish to read something...
How/who will determine how much to pay for these securities? They haven't really figured that out yet. One possibility would be to hire private managers who would get a share of any profits. And there's lots of talks about using various auction methods to price them. But I have yet to hear a really convincing explanation of how this would work...
...Gregg, the top negotiator on the bill for Senate Republicans, described as a massive car accident in the middle of the highway. The government must clear the accident away by buying the toxic debt so that normal traffic can flow freely. One avenue will be to do a reverse auction, where banks compete to sell the Treasury their bad paper, with the Treasury choosing the lowest offers. The Treasury may also directly negotiate with companies, though no one knows exactly how that will work...
...final talks, which for some staff went well past 3:30 a.m. Sunday morning. But a compromise was reached that places a tax on executive salaries and bonuses of $500,000 or more at companies in which the Treasury has bought more than $300 million in assets at auction. For companies in which the Treasury intervenes directly, a 20% surcharge on golden parachutes is instituted...