District of Columbia Selects Liquidity Services, Inc. to Manage Surplus Asset Disposition; Online auctions will provide significant increase in financial return on surplus assets.WASHINGTON -- The District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). Office of Contracting and Procurement has awarded an exclusive contract to Liquidity Services, Inc. (LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. ) to handle the inventory, appraisal, sale, and disposition for all surplus property owned by the District. LSI, a provider of comprehensive asset recovery services for businesses and the public sector, will host open and competitive sales of the District's surplus property on its online auction marketplace, www.Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy .com. Auction sales are expected to generate increased rates of return on surplus inventory while improving data tracking and financial oversight of surplus asset disposition activities. The new program for asset management and disposition brings the District a streamlined process that will not only create a valuable revenue stream but will also meet the District's criteria for transparent tracking and real-time reporting on transactions involving surplus property. The assets are managed by the Office of Contracting and Procurement and include items such as vehicles, police automobile accessories, information technology equipment, radio communication equipment, office furniture and office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). . "Our selection of LSI to manage our asset disposition program is reflective of the District's commitment to smart business practices," said Mayor Anthony A. Williams Anthony Allen "Tony" Williams (born July 28 1951, in Los Angeles, California) is an American politician who served as the fourth elected mayor of the District of Columbia from 1999 to 2007. . "The cash flow from the sale of the District's surplus assets will be deposited directly back into the treasury and re-allocated to departments and programs within the government. The additional revenue will enable us to more effectively address and meet the expectations of taxpayers." The government will realize fair-market value on its surplus items through LSI's marketing campaigns to District agencies, LSI's existing base of 220,000 qualified buyers, and other potential buyers of surplus. The transition from traditional sales methods to online auctions will further increase competitive pricing. LSI will also handle all operational and administrative tasks including inventory reconciliation, creation and launch of auctions, buyer assistance, shipping and logistics, payment collection, and refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur and/or recycling of items when appropriate. "The overall goal of our asset remarketing activities is to provide a solution that maximizes the recovery value of usable surplus property for the District of Columbia," said Bill Angrick, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of LSI. "Our proven success with Fortune 500 companies, manufacturers, and other government agencies demonstrates our ability to generate higher rates of return through our online auction marketplace and integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. ." About Liquidity Services, Inc. Liquidity Services, Inc. and its subsidiaries enable government agencies, businesses and financial institutions to market and sell surplus assets and wholesale goods quickly and conveniently using innovative online auction marketplaces, business-to-business product sales and marketing expertise, and value-added logistics and fulfillment services. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. is based in Washington, D.C. and employs 285 people. Additional information can be found at: www.liquidityservicesinc.com |
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