Word: auctioner
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...their attempt to create a corporate utopia, founders Sergey Brin and Larry Page are creating two stock classes--one for themselves and one for the rest of us, who must bid through what's known as a Dutch auction. For a variety of reasons, it's not a stock you need to rush...
Perhaps the biggest red flag is the auction that Google will use to distribute shares. The process allows all investors to enter a bid. That's fairer than most IPOs, in which only the well-connected get a chance. But unlike a typical auction, in which the highest bid sets the price for all shares, Google's reserves the right to add more shares, which would lead to a lower per-share price. Why do such a thing? To make sure the IPO price doesn't hit an unsustainable level--a risk at any fevered auction...
...says Steven Tuen, a co-manager of the Kinetics Internet Fund, "I see no urgency to bid." The typical IPO sold at auction rises less than 7% the first day. So there isn't a lot of risk in simply waiting for trading to begin. By then you'll know who sold what, and you just might get a better price...
...expensive PBHA-run program—costing an estimated $600,000—funding the camps is a yearly struggle. This year, SUP directors are trying to move away from relying on grants, and are instead focusing on raising money by themselves with fundraisers like yesterday’s auction...
Planned fundraising efforts are both camp-specific and SUP-wide. Yesterday’s auction was an example of an SUP-wide fundraising event, as well as a Bowl-a-thon planned for next month. Last night, SUP earned $12,500 through the auction...