Word: underbid
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Dates: during 1980-1989
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...secondary market as high as $350,000, and Saatchi recently unloaded a block of nine of them on the Swedish dealer Bo Alveryd, who last month spent $70 million at three London galleries (Marlborough, Waddington and Bernard Jacobson) before moving on to the New York fall auctions. There he underbid the $20.68 million De Kooning and bought, among other things, a Johns for $12.1 million. "I thought Saatchi had good intentions," Scully says. "Now it turns out that he's only a superdealer. These guys create price levels for themselves. They put one painting in a sale...
...favored company is the Pittsburgh-based Dravo Corp., which in 1983 underbid four other builders to win a $102.9 million contract to construct a steam plant for the Navy at the Portsmouth, Va., shipyard. When Dravo discovered its design would not work as promised, it had to redesign the plant. By August of last year, the company faced increased costs of almost $25 million. Dravo's Washington Lobbyist Martin Hamberger did not waste time trying to persuade unsympathetic Navy brass to renegotiate. Instead he went to Specter, asking for a bailout. The Senator received $9,500 from Dravo's political...
...week from Easter recess, lawmakers may take up the proposed $3.9 billion buyout of Dome Petroleum by the Canadian arm of Chicago-based Amoco, fifth largest U.S. oil company. Dome's board, faced with $4.9 billion in debt, last week accepted the offer. But Toronto-based TransCanada PipeLines, which underbid Amoco by $600 million, vows to keep up the fight...
Soviet ships can afford to underbid other fleets because they are state insured, fueled by cheap domestic oil and manned...
Both Harvard and MIT subsequently lowered their bids to near NIE's $7.7 million figure while Bank St. remained unaware that it had underbid dramatically with its $4.5 million proposal...