Even the low bids, though, would have allowed Ed to make a nice profit on the deal.
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"Most sellers are pretty strong, and low bids are easily ignored, " says Taylor.
And because many contractors have submitted low bids for work, they could be more likely to issue change orders that could bring them more money for unforeseen work.
The transactions are done through an auction process with the dealers competing on price and the Fed accepting the low bids for buying and the high bids for selling.
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Harvard's efforts to sell big parts of its private equity portfolio generated a lot of publicity a year ago when it was reported that the endowment had pulled the assets off the market due to low bids.
According to University of Maryland economist Peter Cramton, companies are able to submit non-binding, low-ball bids, resulting in prices that are far below any reasonable profit level.
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These low-ball bids occur just at the very time that American consumers are moving swiftly to a choice of myriad smartphones and tablet devices that use vastly more bandwidth than simpler phones do.
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In the flawed program, companies can low-ball the bids but then not be required to follow through and provide the products they bid on.
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One of the most worrying aspects of the Barclays settlements with the CFTC, the U.S. Department of Justice and the U.K. Financial Services Authority is the acknowledgment that Barclays had attempted as early as 2007 to flag its concern that other banks were low-balling their Libor bids to the U.K. authorities including the Bank of England, the FSA and the British Bankers Association.
China will certainly be the low-cost manufacturer when all the bids are in.
Grangemouth and the Teesside Low Carbon Project had submitted the two unsuccessful bids.
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Lukoil trades in low volume in the pink sheets, with huge spreads between bids and asks.
The auction was subject to, all bids were subject to our approval, or to a certain minimum, and the bid was too low.
Fifa's inspection report on each of the bids has also been sent out and will be published this week with England expected to be given a low risk rating.
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