The News Review:
- Ad Club model questioned as annual auction falters
- A House Auction, Deconstructed
- Vodafone wants 3G spectrum auction deferred
- Buyers a rare sight as auction clearances dive
- Auction has country flavour
- WaMu Swaps Auction Sets Payout of 43 Cents on Dollar (Update2)
Ad Club model questioned as annual auction falters
Bizjournals.com, NC
All eyes were on the October auction — for which media outlets donate advertising space that local ad agencies can then purchase online at bargain prices — after last year’s event barely raised $400,000, even after Kiely extended the auction for several days. This year’s auction, which concluded on Oct. 17, raised just over $500,000. While that amount fell far below the target, Kiely knew that $1 million was going to be a huge reach after the Wall Street meltdown.
A House Auction, Deconstructed
New York Times, United States
LYNCH, an auctioneer and broker with Amity Auction Realty, stood at the front of a crowd packed into a ballroom at the Marriott Hotel and Conference Center on Oct. 12, extolling the virtues of “a virtually brand new” five-bedroom house on Warner Avenue in Hempstead. A photo of the home was projected on a screen, as if Mr. Lynch were auctioning off a.
Vodafone wants 3G spectrum auction deferred
Hindu, India
In a letter to Department of Telecom, the company said mobilising financial commitments in the current economic environment is proving to be an extended process. Borrowers could expect the process loan exercise to take three months to end with some banks taking in excess of one month to obtain their credit sanctions. This too guarantees no success. “We are informed that many international banks will struggle if a financial commitment is required before the year-end.
Buyers a rare sight as auction clearances dive
The Australian, Australia
article-tools –> Sanna Trad and Michael Davis | October 27, 2008. module-subheader –> CLEARANCE rates again crashed to record lows over the weekend, with the lure of the increased first-home owners grant failing to offset buyers’ concerns about the global financial crisis. In Sydney, the auction clearance rate plummeted to 39. 6 per cent, 10 points lower than the figure recorded last weekend and 24 per cent lower than the figure recorded for the same weekend last year. In Melbourne, the clearance rate fell 7 points to 45 per cent, 32 per cent lower than the figure recorded for the last weekend in October last year. Australian Property Monitors senior economist Liam O’Hara said buyers were wary because of the international economic crisis. "It’s a 50-week low for Sydney," he said.
Auction has country flavour
Edmonton Sun, Canada
And you’re out!
BEST AUCTION EVER
A loving sneak preview, a sampling of the 250 packages assembled for next week’s ATCO and Edmonton Sun Christmas Charity Auction. And these are in addition to Southgate Pontiac’s $34,000 H3T Hummer, Arctic Spas’ $10,000 pool table and Konica Minolta’s $8,000 Biz C350 photocopier. TIFFANY, DANNY & SHARON
There’s something in the heart of country music and fans. Both CISN and CFCW have put together unbelievable auction packages with big-name country artists. Last year, Danny Hooper and Sharon Mallon invited Shane Yellowbird over to play a few tunes for a BBQ at Danny’s house.
WaMu Swaps Auction Sets Payout of 43 Cents on Dollar (Update2)
Bloomberg
An auction held among 14 dealers today set a value of 57cents on the dollar for WaMu senior bonds, less than the 63. 6cents after the first round and lower than where the bonds weretrading yesterday. The auction determines how much investors whobought default protection in the credit-default swaps market canclaim. Prices on WaMu bonds due in January fell 6. 6 cents on thedollar to 58.
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