Word: buyer
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...matter. Says lawyer Mark Cleve, who is defending the neighbors and the county in Tyler's case: "Persons with cordless phones have every reason to know that their communications can be easily overheard." Concurs Professor George Trubow of the John Marshall Law School in Chicago: "It's a buyer- beware situation. If you buy new technology, you ought to understand the risks...
...bonds were issued for mergers and acquisitions in the first nine months of 1989, in contrast to $26 billion during the same period a year ago. "Investors are becoming more sophisticated and cynical," says Kingman Penniman, a Vermont-based investment adviser. "They are no longer willing to finance every buyer's fantasy of using somebody else's money to leverage and strip a company and get rich. The days of the free ride are over...
...telephone. Irises, according to observers, quite quickly went up to $40 million. After a slight lull, the contest resumed between two telephones, whose disembodied bids were relayed to auctioneer John Marion. Moments later, Irises was hammered down to an anonymous bidder at $49 million -- $53.9 million counting the 10% buyer's commission. The name of the underbidder on the other phone has never been divulged. A year went by before it was announced that Bond was the new owner of Irises...
...auction house had no choice. It had punctually paid John Payson the full sale amount, $49 million, and now the exposure of the buyer's inability to pay for the painting would have been horrendous. Although the firm could have repossessed Irises and put it on the block again, such a move would almost certainly have been a disaster. It might have brought $30 million, maybe $35 million, according to informed sources -- a fire sale. And the results for the art market if the World's Most Expensive Picture lost a third of its value in a year...
Last week at Sotheby's, Manet's La Promenade was sold for $14.9 million to an unidentified Japanese buyer. If one accepts Dallhold's figures, Bond has thus cleared his debt to Sotheby...