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It certainly looks like the “team” couldn’t answer questions about their plan today in Washington with any effectiveness nor were able to convey an understanding of it. My guess is that – its not their plan and I think Congress may need to be talking to whomever it is that created this plan. Personally, I would love to know who will benefit from doing it this particular way when they know it won’t work and other possibilities exist which actually will work – they definitely acknowledged that fact when asked.

– cricket diane

Were they using the plan created by someone like Yasuda and the folks at Princeton or in Vienna at the Macroeconomics and econometrics symposiums?a

Or was somebody over at the State Dept trying to help and said – hey you could do a reverse auction thing like we use for commodities? Are the heads of the Federal Reserve and US Treasury using microeconomic tactics on a macroeconomic problem by any chance?

When I did a Google search for reverse auction and “Vienna” – guess what I also found besides the info on the last post –

http://findarticles.com/p/articles/mi_m0EIN/is_2007_Feb_12/ai_n17218683

FedBid Wins Continued Work with State Department | Business Wire

During fiscal year 2006, State Department saved $9.4 million by purchasing commodities via FedBid’s online, reverse auction services.
findarticles.com/p/articles/mi_m0EIN/is_2007_Feb_12/ai_n17218683 – 43k –

FedBid Wins Continued Work with State Department
Business Wire, Feb 12, 2007

Agency employs FedBid’s GSA contract for eCommerce services

VIENNA, Va. — FedBid, Inc., the online marketplace for commodity buys, today announced that the Department of State has opted to continue its relationship with the company by utilizing FedBid’s five-year contract with the U.S. General Services Administration (GSA). FedBid’s competed contract with GSA enables the company to provide online reverse auction services to GSA and agencies eligible to use GSA Sources of Supply and Services.

Experience by the Department of State, using the reverse auction process through the services of FedBid has proven to be a win-win situation for everyone; the customer, the small business community and the U.S. Taxpayer. The Department of State has been using FedBid since 2002 and because of the ongoing success rate, recognizes the benefits, which is why they have chosen to continue working with FedBid through GSA.

GSA awarded its contract to FedBid earlier this year. The initial contract includes one base-year with four option-years and allows federal agencies to take advantage of FedBid’s leading online marketplace to competitively bid commodity buys, thereby improving process efficiencies and saving an average of 10 to 15 percent on their acquisitions. In addition, FedBid’s unique system provides procurement officers with the documentation needed to ensure compliance with federal procurement regulations.

“We consider ourselves successful when government buyers get what they need, at a favorable price, in an environment that meets competitive standards,” said Doug Stuck, FedBid’s Vice President. “At the same time, we’re able to simplify seller access to the complex government market and help them grow their public sector business.”

During fiscal year 2006, State Department saved $9.4 million by purchasing commodities via FedBid’s online, reverse auction services. The 9.4 million dollar savings was based on the actual price paid when compared to the dollar value of the independent government estimate which was obtained by reviewing prices on corporate web sites. In addition, the agency awarded 75% of FedBid procurements to Small Businesses.

ABOUT: FedBid, Inc.

FedBid, Inc. provides online procurement services, including Reverse Auction and associated support services, through its buyer-driven online marketplace, http://www.FedBid.com. Today, more than 1,000 procurement professionals at dozens of federal organizations, including GSA, DHS, Department of State and Department of Defense, use FedBid to procure hundreds of millions worth of commodities and simple services. For more information, visit http://www.FedBid.com or call (877) 9FEDBID.

COPYRIGHT 2007 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

Bibliography for “FedBid Wins Continued Work with State Department”

“FedBid Wins Continued Work with State Department”. Business Wire. . FindArticles.com. 23 Sep. 2008. http://findarticles.com/p/articles/mi_m0EIN/is_2007_Feb_12/ai_n17218683