Word: sales
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...October 2008 Sovereign's stock had fallen 85% and Santander exercised its right of first refusal to buy the remaining 75% for $1.9 billion. Now it has to hope Sovereign is worth more than the peanuts Santander paid for it. "If a bank is strong, it is not for sale. Banks are sold, not bought," says Juan Rodríguez Inciarte, Santander's director general and an architect of its international expansion. Inciarte says Santander will give Sovereign the same treatment it gave the U.K.'s Abbey National bank, an ailing mortgage provider it bought for $11.2 billion in stock...
Bidding went ballistic at a Sotheby's art sale in Hong Kong just over a year ago. A little-known Filipino artist named Ronald Ventura sold a striking, surrealist-inspired painting entitled Nesting Ground for $280,000, 20 times higher than its presale estimate. The emergence of a new trend in Asian art cannot be inferred from a single sale, but works from other contemporary Philippine artists such as Geraldine Javier, Winner Jumalon and Benedicto Cabrera are being sold with increasing frequency and success at auctions and galleries in Hong Kong, Singapore, London and New York City. Mok Kim Chuan...
...Moreno Valley, once one of the fastest-growing cities in the Inland Empire, the competition for foreclosed homes is intense. In December, only 532 houses were listed for sale, down from approximately 3,500 a year ago. "Pretty much anything under $150,000 is going to be bought with cash," says Oscar Rodriguez, a Century 21 real estate agent. He calls his clients, primarily first-time buyers, "goldfish going against sharks." (See pictures of Los Angeles...
...laws last year, many of which went into effect on Jan. 1. While some were significant enough to make headlines at the time (like New Hampshire's legalization of gay marriage in June), others sneaked onto the books without much notice at all (Arkansas now prohibits the sale of toy guns that look real--unless they're of the BB, paintball or pellet variety). With the New Year, Illinois became the 19th state to outlaw texting while driving; North Carolina, a major tobacco-producing state, outlawed smoking in restaurants and bars; and California became the first state to partly...
...contamination currently poses no health risks since the arsenic remains underground, but Harvard must now “remediate” the soil—to remove or contain the affected soil—to facilitate the completion of the sale, according to James Gray, associate vice president of Harvard Real Estate Services...