| Go Shopping Via Reverse Auctions
I've found myself in an interesting and illuminating loop lately. In February, I wrote an article offering some money-saving shopping tips. Good enough, right? Well, I quickly heard from some folks who offered me additional advice, especially about where to find great discounts and coupons online. So I then wrote about how to be a smart online shopper. And then -- you guessed it -- I heard from more folks. So here's my next installment, this time focused on ... (drumroll) reverse auctions. With traditional auctions, such as you'll find at eBay (Nasdaq: EBAY), buyers bid on items, driving up the price until no one wants to bid anymore or the time runs out. With reverse auctions, an item's price starts out high, and then drops -- until someone buys it, ideally. This is similar to the "Dutch auction" concept, which Google (Nasdaq: GOOG) used for its IPO.
Providence Equity, KKR in likely bidding war
Canadas biggest telephone company, BCE Inc., seems headed for a bidding war between two teams of Canadian investors, one including New York-based Kohlberg Kravis Roberts & Co. and the other including Providence Equity Partners. Providence Equity expects to take part in bidding by Ontario Teachers Pension Plan, a person familiar with the transaction told Bloomberg News. The teachers plan, already BCEs biggest investor, yesterday announced it was considering a takeover offer. .
Bidding barrage spurs market highs
THE sharemarket surged to new highs yesterday thanks to corporate activity, generally strong prices for commodities and belief that the United States economy is in reasonable shape. Austock senior client adviser Michael Heffernan said takeover activity involving retailer Coles, construction materials firm Rinker Group, Qantas Airways and various mining companies was firing the local market. "There's a fair bit of excitement about the place now you've got the Coles business going on there's a bit of infectiousness going on there," Mr Heffernan said. "When you couple that with resources stocks galloping along, that's the ingredients for a market starting to catch on fire." Recent strong jobs data in the US had also alleviated some concerns that the US economy was going into recession.
Iran Plans To Invite Bids For Two Nuclear Plants
Tehran, Iran (AHN) - Iran said on Sunday that it would invite bids for the construction of two new nuclear power plants. That decision comes despite international pressure over its nuclear ambitions. "The Atomic Energy Organization of Iran will issue international tenders for the construction of two nuclear power plants with the capacity of 1,000 to 1,600 megawatts in Bushehr," said Ahmad Fayyazbakhsh, the deputy head of Iran's Atomic Energy Organization. The plants would be light-water reactors and each plant would cost up to $1.7 billion and take up to 11 years to construct, he further added. According to media reports, Russia and some European companies have expressed willingness to take part in bidding. Replying to a question on whether American companies could be allowed in bidding, he said, "Any company interested in the issue, can participate in the tenders."
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