1. In a related development, bank lenders to Global Crossing asked Hutchison Whampoa to modify bidding procedures. 2. Japan and the United States reached a trade agreement earlier this year aimed at reforming bidding procedures and opening the market. 3. Shortly after AMC made public its letter of intent, GC Cos. withdrew a motion it had filed setting up bidding procedures based on the Onex-Oaktree bid. 4. The pact also obliged Japan to lower the minimum threshold value for projects subject to the more stringent rules on bidding procedures. 5. A law is being drafted that would regulate bidding procedures to curb corruption in the awarding of construction contracts. 6. An audit by KPMG Peat Marwick showed overspending and violations of public bid procedures, but did not touch upon questions of wrongdoing. 7. Casey proposed introducing a binding ethics contract to eliminate wrongdoing during bidding procedures. 8. He said local sports officials would visit the International Olympic Committee headquarters in Switzerland next month to study bidding procedures and seek advice from Olympic board members. 9. However, the acquisition of such bonds requires a lump sum of money and may mean going through bidding procedures, which prevents ordinary individual investors accessing them. 10. In a bid to limit future scope for bribery, the IOC Executive Committee this weekend is expected to recommend overhauling Games bidding procedures. |