Word: auction
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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...
After the French Revolution, Dom Pérignon's legacy was kept hushed until the 20th century, when it re-emerged as a sensation. In 1936, Doris Duke purchased 100 bottles of the first vintage sold in the U.S.; 68 years later, a case of that vintage sold at auction for nearly $25,000. Grace Kelly requested that it be served at her wedding to Prince Rainier, Elizabeth Taylor celebrated her 1961 Oscar win over a bottle of it, and Aristotle Onassis was known to keep a chilled bottle at the ready at Maxim's restaurant in Paris. Marilyn Monroe...
...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...
...hands of banks, which really don't want to be in the real estate business. These properties are known as "real estate owned" or REOs, which is typically a house or condo that gets repossessed by the lender, usually after failing to sell at a foreclosure auction...