Word: auctioning
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Dates: during 1990-1999
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Overcome by a sudden urge two weeks ago to buy rare stamps, Sununu ordered the driver of his government-paid limousine to drive him 225 miles to New York City. He spent the day -- and nearly $5,000 -- at an auction room at Christie's. Then he dismissed the driver, who motored back to Washington with no passengers. Sununu returned on a private jet owned by Beneficial Corp...
...Texas, says federal fish and wildlife agent Jim Stinebaugh, canned hunts are quick and dirty, most of them the work of "fly-by-night promoters who find a cat at an exotic-animal auction and then put a deal together." Two hunting guides, Daniel Lee Moody and Ronald Terrell McCloud, were indicted in San Antonio last April for unlawfully conspiring to sell and transport a black leopard; McCloud has pleaded guilty to a lesser charge. A sickening videotape shows the leopard being released from a cage and running under a nearby pickup truck. A pack of dogs flushed...
Investments ranging from art to real estate are suffering from depression nowadays, but the bidding for elk horn is still going strong. Boy Scouts in Jackson, Wyo., who each year auction off the antlers shed by bull elk at the nearby National Elk Refuge, earlier this month collected a total of $76,177, or about $11.20 per lb. The price per pound has been rising about 50 cents annually, thanks in part to Asian bidders who can sell ground elk horn for as much as $300 per oz. because of its purported aphrodisiac and medicinal qualities. But this year Korean...
...Wunsch Auction System opened for trading last week, linking buyers and sellers of all registered stocks directly through a personal-computer network. Brokers? Unnecessary. Floor traders? Get real. With all those hands and pockets out of the loop, the only commission involved is Wunsch's, and it is as much as 90% lower than normal commissions and fees. That has investors excited and stock exchanges worried. The exchanges, notably the N.Y.S.E., are particularly afraid of losing the big institutional investors that account for most trading. In an unavailing effort to stop the upstart system, five exchanges petitioned the Securities...
...devised by Wunsch, a former Kidder Peabody vice president, and two computer experts formerly with Cray Research, the electronic auction represents the most serious challenge yet to traditional Wall Street trading. Other computerized markets, like Reuters' Crossing Network and Jefferies & Co.'s Posit, also execute trades independent of the major exchanges. But trading at the exchanges determines share prices...