Word: auction
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Dates: during 1980-1989
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...chainsaw-carved, life-size wooden elephant was lugged away for $13,000. A 4-ft.-high red fiber-glass ball called Zargon was snapped up for $2,625. These were some of the bargains to be found at last week's auction of sculpture, furniture and potpourri from Expo 86, the world's fair held in Vancouver from last May to October...
...Francisco-based giant (assets: $117.3 billion) has laid off 6.3% of its 80,000 employees this year, and last week it finalized the sale of its carleasing subsidiary to General Electric Credit for some $215 million. BankAmerica's main unit, Bank of America, completed a two-day auction that was billed as the largest farmland sale in California history. The bank put 3,821 fertile acres in the state's Central Valley on the block as a start at unloading 214,000 acres of land that the bank has unwillingly accumulated by foreclosing on bad agricultural loans...
...auction, held at motels in Fresno one day and Sacramento the next, attracted overflow crowds of farmers and agribusinessmen, but the results were something of a letdown for BankAmerica. Successful bidders paid only 76% of the appraised value of the land on average, and six of 23 parcels went unsold because no one was willing to make the minimum bids that had been set. The $3.8 million raised by the auction was "less money than we had hoped for," admitted BankAmerica Vice President H.G. Weichert. But at his institution these days, every little bit helps...
...contracts are just one in a dizzying array of Deng's market-oriented economic reforms. In China's first bankruptcy auction last week, the government sold a factory in northeastern Liaoning province to a worker-owned unit of the Shenyang Gas Supply Co. The plant went out of business in August after Peking decided to stop propping up money-losing ventures. In another move, limited stock trading began in Shanghai in a test that could lead to the creation of China's first stock exchange since...
...last week at the New Mexico State Fair. Golden Parachute finished dead last in a race two weeks ago. The horses' combined purses this year: $7,309. The money went into the U.S. Marshals Service Assets Forfeiture Fund, which will be further enriched when the horses are sold at auction next month...