Word: auctioner
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Former President Derek C. Bok's 1969 crimson Volkswagon "Bug" will go to the highest bidder at a Phillips Brooks House Association (PBHA) auction to be held this fall...
...proceeds from the auction of the VW will be put towards PBHA's tutoring, homeless, and literacy programs...
...will be sold by silent auction, Smith said, adding that she expects bidding to begin soon...
...reform. Beyond firing or suspending top executives, Salomon departed from past practices and decided against paying them compensation, severance or their future legal expenses. Buffett also revealed during testimony that Salomon's loose trading practices allowed the firm to grab more than 90% of the Treasury notes during an auction last May. (The law prohibits any single company from acquiring more than...
Salomon's more urgent problem is customer defections, which threaten the firm's liquidity. The World Bank and at least two state treasuries and four state pension funds said they would all stop buying Treasury bonds through Salomon until questions about auction violations are resolved. The British Treasury is also considering sanctions against the investment house. More desertions are expected...