Word: bidding
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Dates: during 1940-1949
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Three weeks ago (TIME, Sept. 15) A.T. & T. got in step with the trend SEC had set for utility holding companies, announced it would ask for competitive bids on $90,000,000 of new 2¾% debentures. The three bidders that grabbed for this gold-plated bait: 1) No. 1 proponent of competition, Halsey, Stuart (in association with Mellon Securities); 2) No. 1 opponent (and A.T. & T.'s longtime banker) Morgan Stanley; 3) archenemy of all underwriters, the "private placement" boys, in the person of three big life insurance companies (represented by Mutual Life of New York). The winner...
...Priority means giving to one before another. When this occurs the man who has been displaced will seek to replace his position. If the total supply is not sufficient to go around, he will bid a higher price to get what he wants at the time he can use it. Manufacturers naturally seek to give preference to such high-priced orders and so, in effect, you build up a private priority system that competes with and impairs the system of Government priorities. That is why Government priorities cannot be wholly effective without price control...
...hour and a half by sea from England, and there are a lot of Germans still sitting around Cape Gris Nez. . . . We must keep enough here to make sure that the enemy cannot destroy or seriously damage what is, after all, the powerhouse of world resistance to the German bid for world domination...
...Honest Harold" found a simple and paingiving answer: he awarded all identically bid contracts to the bidder located farthest from the proposed project. This automatically upped the winner's transportation costs. The Government gained nothing; but the winner had greater expenses...
...biggest shout went up when a pilot ripped across the field in next year's airplane, an XP-46, leaner and trimmer than its blood brothers. Still experimental, the XP-46 is Curtiss-Wright's bid for speeds above 400 miles an hour. Secret in design, it is reputedly chalking up fast performances with an old Allison...