What is wrong with this?
echo '<a title="Last Chance" href="'.the_permalink().'" class="status open">Last Chance</a>';
As it's putting the the_permalink() before the <a instead of inside it.
Wordpress often echo's the content out of the function instead of returning it.
Use get_permalink() instead.
echo '<a title="Last Chance" href="'.get_permalink().'" class="status open">Last Chance</a>';
http://codex.wordpress.org/Function_Reference/get_permalink http://codex.wordpress.org/Function_Reference/the_permalink
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