The News Review:
- Hartmarx Seeks Court K for Auction to Sell Assets
- ‘Penny auction’ sites offer chance for big bargains
- Manufacturing losses give rise to auctions
Hartmarx Seeks Court K for Auction to Sell Assets
Wall Street Journal
GRACE Hartmarx Corp. said Friday it has sought bankruptcy-court approval to start an auction to sell off all of its assets to Emerisque Brands U. and SKNL North America for about $119 million. The bid offered Wednesday provided hope that jobs could be saved at the financially strapped suitmaker which made the suit President Barack bama wore election night in Chicago. Union workers at Hartmarx have been trying to increase pressure on.
‘Penny auction’ sites offer chance for big bargains
San Jose Mercury News
06?There is: While you stand to get a great bargain you could be bidding against several thousand others in an online auction for one item and each time you place a bid it will cost anywhere from 60 cents to $1. E-commerce is taking on a different spin with sites such as Swoopo and GoBid that appeal to the bargain hunter with a competitive drive. The giveaway prices on name-brand products the limited and timed offerings strategy play and fast pace attract shoppers willing to bid money for the chance to buy something at a fraction of its retail cost. “It’s entertainment shopping” said Chris Bauman 31 the ex-Marine who is.
Manufacturing losses give rise to auctions
Detroit Free Press
Each auction is necessary from each distressed company’s view. But the sale of so much industrial equipment strikes many observers as an American tragedy. Sitting among the bidders at a Hilco-run auction earlier this year at a closed Delphi plant in Dayton hio Mark Boeckl president of a small company called TDM International in Flint said that auctions like this spell disaster for America’s once-mighty manufacturers. “The scary part is all the infrastructure all the manufacturing is leaving” Boeckl said. “And literally what they don’t sell they’re scrapping.
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