Word: auction
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Dates: during 1980-1989
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...idea that shows particular promise is the concept of auctioned quotas. Rather than just giving away the import allowances, proponents ask, why not sell off the quotas to the highest bidders? Under the current system the U.S. leaves it to foreign governments to decide how quotas should be apportioned among their companies, which pay no money for the exporting privileges. But under an auction plan, the U.S.-based companies that import the products would bid directly to the Federal Government for a share of the quota, bringing a whole new source of income to the U.S. Treasury...
...other $22 billion would come in part from gimmicks that the White House used to call revenue enhancements. One proposed strategy is the sale of Government-owned assets to private investors. Among items that could make it to the auction block are the Amtrak rail system and several regional power- marketing administrations, which sell electricity to local utilities. Reagan is putting forward a plan in which the Government would sell $8 billion worth of the loans it has made to students, small businesses and other debtors. Private investment companies would buy the loans and then collect the interest and principal...
Movie moguls basking by the pool at the Beverly Hills Hotel are on the set of a deal so big and racy that it could inspire a screenplay. The 74-year-old pink-and-green landmark has been sold at auction by the feuding family of Wall Street's most notorious insider trader, Ivan Boesky. The buyer: Tycoon Marvin Davis. The secretive Denver oilman, 61, submitted the winning bid of about $135 million to Boesky's wife Seema and her sister Muriel Slatkin. The sisters have not spoken in years, partly because Seema, who held 52% of the property...
When the final gavel thumped down at the auction up at John Connally's 7,300- acre spread near Floresville, Texas, last Saturday, 126 of his prized Thoroughbreds and quarter horses had been sold off for nearly $400,000. Two of the latter were the progeny of a proud champion, Dash for Cash. The . stallion's name was apt, for the auction came at a time when Connally himself is making a run for money. Numerous creditors are pursuing the former Texas Governor and U.S. Treasury Secretary for millions in unpaid loans on a host of flailing ventures. Connally...
...dropped from $32 a barrel to $9, the Texas economy went dry -- and just about everything that Connally and Barnes touched turned bad. Their $14 million, 14-story office building in Houston, 80% vacant, was foreclosed on and sold at auction. A swanky housing development, Triple Crown condominiums in Ruidoso Downs, N. Mex., is the target of a foreclosure suit. More than a quarter of the 212 lots in Austin's plush estates of Barton Creek sit unsold. A creditor has sued to foreclose on four shopping centers; a fifth has already been lost...