Word: auction
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...digital coverage is concentrated in the south. To fuel national demand, Helwin Lesch, general manager of Bayern Digital Radio, a transmitter-network operator, admits that German broadcasters are borrowing marketing ideas from Britain. An on-air campaign to explain digital radio begins in March, and there are plans to auction a few hundred inexpensive radios over the Internet in April. Most German automakers, lured by the promise that 100% of the autobahn system will be covered by a digital signal by 2004, have begun ordering units from manufacturers, which should also boost the market...
Publishers got a sneak peak last week at the journals of former Nirvana frontman Kurt Cobain, placed up for auction by his widow, Courtney Love, and widely expected to become a best-seller. Publishing insiders who have read excerpts from Cobain's 23 notebooks, about 800 pages written over several years, tell TIME the early buzz is warranted. The diaries include a handwritten draft of lyrics to Cobain's generation-defining single, "Smells Like Teen Spirit," with verses crossed out and circled. Cobain obsessively lists his 50 favorite CDs during various periods, often naming albums by fellow Seattleites the Melvins...
...Behind all the front-page headlines last week, Enron was struggling to manage its bankruptcy reorganization. One key all along has been to keep the vaunted energy-trading unit operating. That group accounted for 90% of Enron's revenue, and Friday it was sold at auction to UBS Warburg for a price to be disclosed this week. The courts must approve the sale, however, which promises to spark legal fireworks from creditors, who will want to make sure the company got a fair price. Not that it will matter much to Enron. The company has little chance of emerging from...
...Going Once Display of garish wealth or shopping opportunity of the century? Call it what you will, but the auction in Brunei to help pay off the massive debts of the Sultan's naughty playboy brother, Prince Jefri Bolkiah, was the tackiest display of useless extravagance ever assembled. If your shopping list included gold-plated toilet-brush holders, 8,500 slabs of Italian marble and an attack-helicopter simulator, you were in luck. The citizens of Brunei were not: in a victory for good taste, the auction raised a paltry $8 million...
...Hammered Staining the starched white collar of Sotheby's, the venerable auction house, chairman A. Alfred Taubman was convicted last month of conspiring to fix prices and thereby ripping off the world's most élite clientele. The 76-year-old shopping center magnate now faces three years in jail, millions of dollars in fines and the eternal question: Does one ever have enough money? Taubman remains the controlling shareholder of Sotheby's, which is now for sale. This time he might have to let the market set the price...