Word: half
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Dates: during 1980-1989
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...makes loans or advances money to consignors and/or prospective purchasers, this fact must be conspicuously disclosed in the auctioneer's catalog." But did this mean that Sotheby's put a note in the catalog of its November 1987 sale saying it had given one Alan Bond a loan of half the hammer price, repayment terms to be negotiated, on Irises? Think again...
Bond arranged with the financial services division of Sotheby's for an open- ended bridging loan of half the hammer price, whatever that would be. The other half he borrowed from an Australian bank...
...more than $700 million for Kerry Packer's TV stations in Australia. In the financial year ending last June, Bond's media firm posted a $34 million loss. Also in 1987, Bond paid more than $1 billion for the U.S. brewery G. Heileman, whose 1989 resale value is about half that...
What do you say to an offer to ghostwrite Nancy Reagan's autobiography? "Just say yes," advised William Novak's wife Linda when Random House approached him a year-and-a-half ago. Today My Turn: The Memoirs of Nancy Reagan has made headlines, sold some 400,000 copies and soared to the top of the best-seller lists. Yet if Novak went with a winner, so did Reagan. Novak, 41, came to the collaboration with credentials of his own. He is the golden mouthpiece of the nation's celebrities, a literary John Alden who can consistently...
...news coverage is just about the most profitable thing a station can do, in part because production costs typically are less than half those of entertainment shows. And since news stories can be used repeatedly on broadcasts throughout the day, stations can sell more advertising time a minute of material, further increasing their profit margins. Moreover, many advertisers will pay premium rates to run their commercials during news shows because such programs generally attract consumers with higher average incomes...