Word: payes
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Dates: during 1980-1989
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...pay for the insurance? When the Metropolitan Museum of Art's show "Van Gogh at Arles" was being planned in the early '80s, it was assigned a global value for insurance of about $1 billion. Today it would be $5 billion, and the show could never be done. In the wake of Irises, every Van Gogh owner wants to believe his painting is worth $50 million and will not let it off the wall if insured for less. Even there, the problem is compounded by the auction houses: when consulted on insurance values or by the IRS, they tend...
...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...
...Bond asked Chemical if he could pay up the lease early, settle the difference between the lease payments and the original $3.96 million and take ownership of the Manet. All seemed well until an American adviser in 1987 pointed out to Chemical that by law the Manet belonged to the bank and not to Bond. Its price had gone up. So why shouldn't Chemical auction the Manet on behalf of its shareholders? On learning of this suggestion, Bond reportedly flew into an epic rage. Chemical backed down and let Bond pay off the lease and keep the picture...
...House chief of staff Donald Regan and her troubled relations with her children. "When she'd say, 'Now Bill, you're not going to talk about this,' I'd use the editors: 'But the editors insist on these subjects,' " says Novak. "The fact is, if you ask readers to pay $22 for a book, you have to reveal new material. Ironically, the better known the person the more they must reveal." Recalls Reagan: "There were tough, difficult times and good times. But I wanted it honest and personal...
...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...