Word: auctions
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...exhibit is free of charge. Tickets for the auction dinner are available from the AIDS Institute, which organized the exhibit...
Websites are bringing buyers and sellers together in a variety of ways, including cooperative purchasing and catalog buying. Some of the more popular exchanges use so-called reverse auctions to play matchmaker. Here's how they work: a prospective buyer completes a request-for-quote form, the exchange matches it with prequalified suppliers, and they submit a quote. Some exchanges let vendors see other bids while the auction is under way, and others reveal the winning bid to vendors only after the auction. Either way, buyers can choose the quote that best suits their needs...
Speedy procurement is just part of the appeal. There are other cost advantages. Because it's expensive to establish contact with small-business customers, vendors are willing to cover all the transaction costs. And letting vendors battle in cyberspace drives the price down for the buyer. At cyberspace auctions, vendors know they have competitors and make every attempt to offer the best price. Auction sites are placing an increasingly high priority on prequalifying vendors, screening out sketchy suppliers and creating an important safety net for small businesses. "Knowing vendors are qualified can save a lot of time and money," says...
While both small-business buyers and sellers seem to be profiting, it's not yet clear that the auction sites will stay in the black. For some products and services, like computer equipment and brochure printing, the margins are small, leaving little room for exchanges to profit. And then there's always the possibility that, like the big automakers, small businesses in the same field could band together and establish their own exchanges, relying less on the dotcoms. It's unlikely this will happen anytime soon, according to Melissa Shore, a senior analyst at Jupiter Research. "The reason proprietary exchanges...
This is the guy who embarrassed Bill Gates on the stand. The guy who wrestled $1.17 billion from drug companies for fixing vitamin prices, who defeated the nation's biggest auction houses and now represents everyone from Calvin Klein to Napster. Yeah, the guy in the rumpled blue suit and black sneakers...