Word: auction
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Meanwhile, trustees of the Howard Hughes Medical Institute decided last August to offer Hughes Aircraft to the highest bidder because of various seemingly insoluble tax and legal problems. It turned to the Wall Street firm of Morgan Stanley to handle the auction. "The Russians would have been happy to make the highest bid," quipped Joseph Perella, a managing director of First Boston, a Hughes adviser. From the outset, GM seemed the most likely buyer. Detroit's recovery had left the largest U.S. automaker with some $9 billion to spend, even after the E.D.S. acquisition, and Smith badly wanted Hughes...
Last week the company, which had 1984 sales of $4.9 billion, was put on the auction block by its sole owner, the Howard Hughes Medical Institute of Bethesda, Md. Expected selling price: around $4 billion, but possibly as much as $6 billion. Among possible buyers: General Motors, Ford and Boeing...
Dores is an impressionist expert at a London auction house who has been sent to New York to help increase business in that prestigious and lucrative field. In town just long enough to establish a ruinous double love life, he is ordered to the Deep South to close a deal for some Sisleys and Vuillards belonging to a crusty old patriarch named Loomis Gage. For Gage, read Snopes; Henderson is soon in far beyond his depths of courage or cunning with this moody, devious clan. The old man's fortune comes from some patents he took out on parking...
Some of the best bargains are in luxury goods--antique furniture, for example. In a recent sale at the Phillips auction house in London, American dealers and collectors bid up the prices of fruitwood furniture one- third or more above the advance estimates. An 18th century walnut desk that went unsold at $1,875 last year brought $4,680; a Queen Anne walnut bureau expected to go for $16,800 reached $33,600. Such prices wiped out the savings that American buyers got from the strong dollar, but London prices for decorative furniture are still at least 20% lower than...
...auction will be one of the first events ever held at the new Charles Hotel in Harvard Square, which in out week, tickets, costing $35 apiece, include a buffet dinner, champagne, and a chance...