| PropertyRoom.com Signs 900 th Contract, Inking Houston Police ...
MISSION VIEJO, Calif.--(BUSINESS WIRE)--PropertyRoom.com, the largest site for online police auctions, today announced the signing of the police department of Houston, Texas, the fourth largest city in the US and the company's 900th contract. "It absolutely thrills us to bring the Houston Police Department on board," said Rob Hagen, CEO of PropertyRoom.com. "And of course, we find it exciting to book our 900th contract. Given the acceptance of PropertyRoom.com as the standard for online police auctions, we see accelerated growth and expect to ink our 1,000th contract sometime this summer." "PropertyRoom.com helps us to minimize time and labor," said Houston Police Chief Harold L. Hurtt, "And an opportunity to maximize efficiency strongly appeals to us. We look forward to a long and productive relationship." With the Houston contract, PropertyRoom.com now counts three of the top five US police departments as clients, spanning the country from New York to Los Angeles.
Chrysler bidding heats up this week
Another round of bids for the Chrysler Group are expected to be submitted this week, as DaimlerChrysler AG's leaders begin gathering in Stuttgart as early as today for high-level management and supervisory board meetings. According to a source familiar with the process, "refined offers" likely to include firm financial details are due by mid-week -- just in time for DaimlerChrysler's governing supervisory board, including United Auto Workers President Ron Gettelfinger, to potentially discuss details at its Wednesday meeting. Bidders are expected to include Cerberus Capital Management, whose team includes former Chrysler COO Wolfgang Bernhard and former Ford Motor Co. executives. Until last week, Cerberus was set to be a leading investor in bankrupt Delphi Corp. Also in the game is the duo of Blackstone, Wall Street's top private equity firm, and Centerbridge Partners.
Liberty Global (LBTYA) Announces Preliminary Results of Dutch ...
Liberty Global, Inc. (NASDAQ: LBTYA) (NASDAQ: LBTYB) (NASDAQ: LBTYK) announced the expiration of its modified Dutch auction self-tender offers to purchase up to 7,142,857 shares of its Series A common stock and up to 7,656,968 shares of its Series C common stock, which expired at 5:00 p.m., New York City time, on April 19, 2007. Based on the preliminary tabulation by the depositary, the Series A tender offer was oversubscribed as approximately 8,024,762 shares of Series A common stock were validly tendered and not withdrawn, including shares subject to guaranteed delivery. The purchase price for the Series A tender offer is $35.00 per share. Liberty Global also announced that it intends to exercise its right to purchase up to an additional 2% of its outstanding Series A common stock in the tender offer without extending the tender offer.
Auction Revenues Increase 2 Percent, NAA Reports
Gross sales revenues from auctions by the National Auctioneers Association (NAA) members in the first quarter of 2007 increased 2% over same time period one year ago, a study by the NAA has found. If this trend continues, it will translate into approximately $266 billion total revenue for 2007 for the entire auction industry, up from $257.2 billion in 2006, a projected 3.4% percent increase for all of 2007. This suggests the possibility of a slightly slower growth in the live auction industry in 2007 compared to 2006, when a 7.1 percent growth rate occurred for all of 2006 over the previous year. The first quarter growth last year was 5.7 percent. These are the findings documented in a quarterly report of auction industry growth being conducted by global market research firm MORPACE International on behalf of the National Auctioneers Association (NAA).
UA given green light for new Stirling mart
Stirling Council's development control panel has backed United Auctions' application to build a market at Hill of Drip, to the west of its existing facility at Kildean. The 52-acre site will use the same roundabout off the motorway as the present site, but it will have better access. One of the stumbling blocks to permission for the £10m development was the requirement to include a clause that the area would be returned to a greenfield site in 50 years. .
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