The auction raises questions about which artefacts of theatrical heritage are worth preserving.
It is possible that this kind of comment will make it harder to complete the auction of CAM.The question that has hung over the industry for months, whether still more capital will be needed, has not gone away.
If you follow the auction path, the question that naturally follows is: what happens to the proceeds of the auction?
As you will see from the email below Kenneth is now informing me that in his agreement with Harvey he consented to repaying Harvey's 'loan' as soon as we received this money from the donors for the auction lots in question.
Like many of the financial innovations that are now being called into question, auction-rate securities are complicated deals that seemed to offer something for nothing.
(See "T-Bond Auction Strong, But Questions Remain").
Make use of this time; there is no point rocking up at the last minute and thinking you can work out what you want to bid on and why! Speak to the auctioneer well in advance of the auction if you have questions or need clarifications.
Some of the prices paid this week at auction partly answer the question — the big numbers went to long-established artists.
But the results of that auction were thrown into question when a federal appeals court here decided in June that regulators had violated federal bankruptcy law by seizing the licenses.
We study the question of auction design in an IPV setting characterized by ambiguity.
