Launches Market for Idle Assets, Excess Inventory launched an independent,
business-to-business Internet marketplace to facilitate transactions between
buyers and sellers of extra inventory, idle assets and last year’s products. said its business model is similar to that of auction site eBay. On, executives can buy and
sell items in over 50 product categories in an auction-based, sealed-bid or
fixed-price format.

Merchandise from virtually every industry sector is represented, the company
said, including electronic components, computers, machinery and textiles.
More than 30 Fortune 1000 companies across a variety of industries are
currently selling on, the company said, including Ralston
Purina, Florida Power and Light,
Georgia-Pacific, MSC Industrial Supply, Weyerhauser and Duquense Light
Company. The current product selection ranges from a one-megawatt generator
selling for $250,000, to 95 cases of Ambrosia Invitations available for $289.

“ makes the process of managing excess and idle assets a far more lucrative and efficient
operation for companies by providing a direct link to the largest possible
buying audience and using the Internet to standardize and streamline the
buying and selling process,” said Brin McCagg, CEO and founder of the company.

“We view as an opportunity to maximize the value of excess
inventory and efficiently reach a large universe of liquidators, auctioneers
and jobbers,” said Bill Stiritz, chairman of Ralston Purina and a charter customer. “Because of the potential savings in
transaction costs and increased profit on each sale, we can significantly
improve our return on assets.”

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