In a statement, Anthony Deering, the chairman and chief executive, said, "This transaction recognizes the extraordinary values that have been built by the Rouse Company since its founding in 1939".
The modern law of commercial transactions recognizes this and protects the buyer by implying various exceptions to the principle of caveat emptor.
But while raising money for a solar energy transaction, she recognized that she lacked experience in the energy industry.
JLG Industries Inc., which makes mobile platforms to elevate workers and tools, said it would restate its earnings for fiscal 2003 after $8.7 million in revenue from a transaction was recognized prematurely.
Yet the concept of "transaction" is recognized in both places.
In a news release announcing the buyout plan, Ronald L. Zarrella, Bausch's chairman and chief executive, said, "We are pleased that this transaction appropriately recognizes the value of Bausch & Lomb's highly respected brand and innovative products in the eye care industry, while providing our shareholders with an immediate and substantial cash premium".
From the start of this process SanDisk's Board has remained open to a transaction that recognizes SanDisk's long-term value and contains the right protections for SanDisk's shareholders.
Maybe, but as Mr. Coase himself also recognized, transaction costs are often prohibitive, and in such cases all bets regarding free-market efficiency are off.
While Neoforma reports only the fees it collects as revenue, Ventro's claim that it will grab $145 million in revenue this year is based on the "grossed-up" figure that is, for many transactions, Ventro recognizes the entire value of the orders, rather than its own small cut.
The general line in most of these articles, and in the Times report by Louis Uchitelle, was that the Nobel committee, by recognizing the importance of non-market transactions, had appropriately recognized the current turmoil in the global economy and in the discipline of economics.
"If the Willamette board would only sit down to discuss this transaction, they will recognize that this combination will produce superior value".
