Word: auction
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...last wednesday of September, Russia's second largest oil company, Lukoil, hoisted the Stars and Stripes up a flagpole outside its Moscow headquarters to celebrate a landmark deal: with a $2 billion bid, the U.S. firm ConocoPhillips had just won an auction for the Russian government's 7.6% stake in the firm. The two companies promptly announced a strategic alliance to develop oil reserves in the Russian Arctic and potentially work together in Iraq. For Jim Mulva, Conoco's president and chief executive, the deal amounted to a coup, giving Conoco access to 8 billion bbl. of proven oil reserves...
...billionaire who built Yukos into an energy powerhouse, was arrested and put on trial for alleged fraud and tax evasion, charges he says were trumped up. Since then, Yukos has been hit with a $24 billion bill for back taxes, and the government announced in November that it will auction off the company's most valuable subsidiary, Yugansk Oil & Gas, on Dec. 19 to pay the tax bill - a move Yukos ceo Steven Theede lambasted as "government-organized theft to settle a political score." The Kremlin set the starting price for the auction at $8.65 billion, roughly half...
...eBay, with the clock ticking down on an item we really don't need and may not even want, and our sportsman's juices surge: It's the two-minute warning at Super Bowl XXXVI. (New England Patriots 20, St. Louis Rams 17.) For guys at an online auction, it's not just the getting that counts, it's the crushing of another bidder's acquisitive spirit. In the final seconds of an auction, we - all right, I - enter a last, astronomical bid. I won, won, won! Then the inevitable deflation sets in: But what did I win? And what...
...vehicle or a good Papunya Tula painting - nursing overheads and the need for water filters make it an expensive item in the desert. But, circulated among a group of well-connected Papunya Tula supporters, from AGNSW curator Hetti Perkins to Tim Kingender, the Aboriginal art specialist at Sotheby's auction house, the idea took hold. In late '98, with "Genesis and Genius" just over a year away from opening, Kingender recalls Toyne phoning him: "I said, 'O.K., if I make the money, you make it happen...
...auction was organized for the close of the show, with 35 Aboriginal works donated by collectors, artists and dealers. Central were four large new collaborative paintings by the men and women of Kintore and Kiwirrkura, a Pintupi settlement 200 km to the west, across the West Australian border. These came together as quickly and spontaneously as the Papunya movement had 20 years earlier. "We just threw the paints out," recalls Sweeney, "and they went for it." So, too, did bidders on the auction night, including businessman Kerry Stokes, who paid $A300,000 for the Kiwirrkura men's painting...