China Construction Bank voted to deny hand that is not a problem disk sector

Spread of a few days ago Bank of America may reduce CCB H shares news, market analysts generally believe that their own pressure, the reduction of the Bank of America has become almost a foregone conclusion. “South China Morning Post” quoted an anonymous on the 7th fund managers as saying that Bank of America may be lower than the current share price up to 15% discount on the price of the sale of its holdings of shares in China Construction Bank 34%, to raise up to 58 billion Hong Kong dollar , or about 7.482 billion U.S. dollars of the funds.

Here the transaction has been the newspapers may start to pathway the advancement of the follow-up. Hong Kong’s “Ming Pao Daily News” described that on the 7th, in alignment to stabilize the market, Banc of America has been the foremost shareholder of China Construction Bank and China Investment Co., Ltd. (referred to as the “cast”) to come to an affirmation, most of the raising of the ostracise will be in the cast to take supply, while the other CCB a scheme for the shareholders, Singapore Temasek Holdings Co., Ltd. China Construction Bank may furthermore be part of the supply holdings.

However, the same day, according to domestic media reports that cast a subsidiary of the company’s authoritative Huijin has clearly denied this, saying that “never heard of the matter” and that “Bank of America to reduce stake in CCB no suspense, the key is the price. “Analysts believe that it is not excluded by the parties concerned and its major shareholders Huijin company said in a matter voted to raise the possibility of the price.

The report also pointed out that, for prudential considerations, CCB has been a significant provision, leading to emergence of its first-quarter net profit decreased substantially, but also makes CCB shares at a low price. Accordingly there are investors that the move on the one hand, China Construction Bank for the future to deal with the deterioration of the quality of assets set aside ample space for more on the other hand, contain a certain extent also the acts of the United States to sell the bank.

Statistics present that, following China Construction Bank allocations in 2005 after the Bank of America double in 2008 through the physical exercise of picks allocations of the bank holdings. As of the end of the year 2008, the U.S. bright 44,713,000,000 allocations were held by China Construction Bank H allocations, accounting for all the allocations of China Construction Bank 19.13%, of which 19.133 billion allocations on October 27 last year, the elevating of the ban. January 7 this year, the United States and bright holdings of 56.2 million allocations of which will be in the ratio of the bank’s shareholding lessened to 16.7%.

Construction Bank in accordance with a quarterly, as of March 31, Bank of America in the China Construction Bank shares were held by 39.089 billion, of which 25,580,000,000 shares to August 29, 2011 without the written consent of CCB may not be transferred, the remaining 13.51 billion shares H shares a view of the lock on the 7th in the end, it became the United States is still held by the banks for on-hand cash to supplement the capital of one of the tools. May 7 in accordance with CCB’s H shares closed at 4.61 Hong Kong dollar terms, this part of the total value of stocks is about 8.034 billion U.S. dollars.

HU Chang-Miller, spokesman for China Construction Bank on the 7th stressed that the China Construction Bank Bank of America has not yet received notification of the reduction of capital. He also said that the current stock of China Construction Bank are many people who are interested in, even if the U.S. banks did reduce, sector plate and certainly not a problem. According to the report, due to optimistic market sentiment, a great number of hedge funds are preparing to enter. An international investment bank said that “the placement of this potential business, investment banking has become the pursuit of competing projects.

The health care industry or health profession treats and tends to patients who are injured, sick, disabled, or infirm. The delivery of modern health care depends on an expanding interdisciplinary team of trained professionals.

Delivery of services The healthcare industry includes the delivery of health services by health care providers. Usually such services are paid for by the patient or by the patient’s insurance company; although they may be government-financed (such as the National Health Service in the United Kingdom) or delivered by charities or volunteers, particularly in poorer countries. The structure of healthcare charges can also vary dramatically among countries. For instance, unlike the United States, Chinese hospital charges tend toward 50% for drugs, another major percentage for equipment, and a small percentage for healthcare professional fees.[3]

There are many ways of providing healthcare in the modern world. The most common way is face-to-face delivery, where care provider and patient see each other ‘in the flesh’. This is what occurs in general medicine in most countries. However, healthcare is not always face-to-face; with modern telecommunications technology, in absentia health care is becoming more common. This could be when practitioner and patient communicate over the phone, video conferencing, the internet, email, text messages, or any other form of non-face-to-face communication.

[edit] Medical tourism Main article: Medical tourism

Medical tourism (also called medical travel, health tourism or global healthcare) is a term initially coined by travel agencies and the mass media to describe the rapidly-growing practice of traveling across international borders to obtain health care.

Such services typically include elective procedures as well as complex specialized surgeries such as joint replacement (knee/hip), cardiac surgery, dental surgery, and cosmetic surgeries. However, virtually every type of health care, including psychiatry, alternative treatments, convalescent care and even burial services are available. As a practical matter, providers and customers commonly use informal channels of communication-connection-contract, and in such cases this tends to mean less regulatory or legal oversight to assure quality and less formal recourse to reimbursement or redress, if needed.

Over 50 countries have identified medical tourism as a national industry.[4] However, accreditation and other measures of quality vary widely across the globe, and there are risks and ethical issues that make this method of accessing medical care controversial. Also, some destinations may become hazardous or even dangerous for medical tourists to contemplate.

History

Growth The health care industry is one of the world’s largest and fastest-growing industries.[5] Consuming over 10 percent of gross domestic product of most developed nations, health care can form an enormous part of a country’s economy. In 2003, health care costs paid to hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies, medical device manufacturers and other components of the health care system, consumed 15.3 percent[6] of the GDP of the United States, the largest of any country in the world. For United States, the health share of gross domestic product (GDP) is expected to hold steady in 2006 before resuming its historical upward trend, reaching 19.6 percent of GDP by 2016. [7] In 2001, for the OECD countries the average was 8.4 percent [8] with the United States (13.9%), Switzerland (10.9%), and Germany (10.7%) being the top three.

US healthcare expenditures totaled US$2.2 trillion in 2006.[9] According to Health Affairs, USD$7,498 will be spent on every woman, man and child in the United States in 2007, 20 percent of all spending. Costs are projected to increase to $12,782 by 2016.

Transformation

China has implemented a long-term transformation of its healthcare industry, beginning in the 1980’s. Over the first twenty-five years of this transformation, government contributions to healthcare expenditures have dropped from 36% to 15%, with the burden of managing this decrease falling largely on patients. Also over this period, a small proportion of state-owned hospitals have been privatized. As an incentive to privatization, foreign investment in hospitals - up to 70% ownership - has been encouraged.

On the 4th floor in the five exchanging record community charge on a new high since the 54.47 U.S. dollars / barrel after, NYMEX crude oil charge on the 5th point in time of using electronics exchanging throughout 54 U.S. dollars in the vicinity. Despite the vitality market deliver and demand circumstances is still loose, but the fresh store market enhanced monetary written knowledge and some investors trust that the fault in the oil market deliver and demand circumstances of the primary board is looked frontwards to to break.

Data on the oil market and promote macro-warmer

On the 4th floor in the deal, advertised Monday the United States and into dwellings makeup paying out went up sales bond, by the support, the U.S. store market higher all day, the Dow Jones Industrial Index and the Nasdaq indicator was up 2.61 out of 100, respectively, and 2.58%. This makes the vitality market investors trust that oil demand will recoup in the future effectively. NYMEX crude oil futures bond community charge in June went up 1.27 U.S. dollars the matching day, to 54.47 U.S. dollars, or 2.4%, a record November 24, 2008 the utmost finishing charge since.

In addition, on the 5th of the energy market has also been support from the stock market. Beijing the same day as at 19:06, the British FTSE 100 index was at 4371.07 points, up 3.01 percent after gains. Li believes that the medium-term futures researcher, the stock market up to strengthen the weak market demand for improved confidence in the future, and the rise in oil prices is by this confidence boost.

It is worth citing is that the product market as a entire is furthermore anticipated to support this, as at 21 o’clock on the 5th, representing the general tendency of product charges has increased to the CRB catalogue of 387.71, set a November 4 last year since a new high.

Although the U.S. crude oil stocks since 1990 has risen to the highest level, and a survey, to be released Wednesday week U.S. crude oil inventory data will increase further, but analysts think that the market for the supply and demand has been relaxed to fully digest the information. In order to seek new capital gains, speculative capital markets need to find a subject matter outside speculation.

Another area of concern currently on the market focused on the Federal Reserve will be announced May 7 of the 19 largest banks in the pressure test results. National Bank of Australia’s mineral energy economist Ben Westmore that if these banks to add the necessary capital to allow the market to be surprised, this will make the stock market and energy market is facing new pressure.

Mobility inducements

In supplement to financial facts and numbers and the supply market to advance the buyer is anticipated to convey about the good, the economic edge as well as the progressively lenient encompassing bulk products, encompassing crude oil charges conveyed about by power.

5, the British Bankers Association in March released LIBOR U.S. dollar dropped 2 cornerstone points, coming to 0.99 per hundred, 1 per hundred underneath the first level. In March over the identical time span U.S. dollar LIBOR and overnight catalogue swap rates (OIS) is the interest rate differential between the constricting 78 cornerstone points to strike a September 1 last year, the smallest since.

In Lehman Brothers filed for bankruptcy protection, the market panic has led to three-month LIBOR U.S. dollars in October last year had climbed to 4.82%, LIBOR-OIS (LIBOR - the interest rate and overnight index swaps) spreads surged to 3.64 %, while the average level of five years prior to about 0.26%. After, with the U.S. government and Federal Reserve to provide the size of the 12.8 trillion U.S. dollars of funds to save the banking system, LIBOR only begin to come down. The current LIBOR and LIBOR-OIS level means that the cost of capital markets are at a rare low. Some analysts believe that this means that speculative funds can be leveraged to obtain lower costs, rising commodity and stock prices and other assets. Moreover, the market is also worried about potential inflation may lead to demand for commodity hedging, thereby pushing up prices.

If you wish to sell your used office furniture, selling online could be a great way to earn cash. There are a variety of different ways, with all of them having their advantages and disadvantages. This report looks at them all.

Internet auctioning sites are extremely popular for buyers looking for cheap furniture. You will want to make as much return on your items as you can. Luckily, there are different ways you can auction your furniture to optimise your returns.

On auctioning sites, there are usually two options for purchase - the first of which is bid. If you have an item of value, interested punters could bid the item beyond the price you expected. Placing a reserve bid ensures a safety net of sorts and that the bid does not sell for peanuts.

Have a look at your competition. Going on Internet auctioning sites can help you determine what price products like yours are going for. Pricing your product carefully is the key to getting interest and sale you want.

Expert office furniture websites can offer you advice on how much your furniture would be expected to fetch. Some websites even offer to buy the product off you. Do bear in mind though that the offer is likely to be cheaper than what you get if you were to sell it yourself.

There are a load of expert office furniture businesses out there in cyberspace. You can get in touch with office furniture experts who can give you an accurate prediction of what you can expect for the items you have on offer. This can be of help if you do not wish to sell online, but need a little bit of guidance.

Are you selling a lot of items? It is always worth bearing in mind that if you are selling a lot of products, a way to get some appeal may be by offering a discount for bulk-buying. This is only really recommended if you are selling office furniture on a large-scale, with a high number of units.

Bear in mind your costing. Remember you are trying to get as much return from the sale of your furniture as possible. Take into account the commission that may be taken if you are selling online and the amount you may have to pay for being a concession at a car boot sale.

If you are planning to make a business out of used office furniture, doing it online can be great. Auctioning sites offer feedback systems which can make you into a reputable seller. Valued customers can also get discounts in commission if they trade frequently.

If you have had your furniture for a long time, it could have some value. Consider going to local antique furniture stores in the area. They could wish to relieve you of the furniture you have for a very tidy sum ? do your research before however, to prevent being ripped off.

The objective of selling used office furniture is to make a return. Even though it is highly unlikely you will receive back what you paid for it in the first place (unless it is antique), you can take steps to make sure you make as much return as possible. Do not be afraid to stand firm and be confident with your price, but do be careful that it does not deter the all-important buyer.

Second hand furniture doesnt necessarily have to mean used offerings from popular retailers: if you want to make a good impression, splashing out on some antique furniture can impress, as well as prove to be a good investment over time. But what do you look for in antique furniture for the office? This article explores some of the key elements of good antique furniture.

If you are buying for a business, there are things you can try to do to get discount. Many sellers would consider a small percentage off the asking price of each individual unit if you are buying in bulk. Do not be afraid to ask the buyers policy before you begin trading.

Refraining from putting anything sharp or pointy down on a table can avoid the problem of minute scratches in the body of the hardwood table. Having a pen tray for all of your stationary and a small plate for your keys can be cost effective ways to preserve the value of your product. Hardwood tables are beautiful creations which deserve to be respected and well looked after.

Allow yourself some time to consider what it is up for grabs in more detail. Some people make the mistake of purchasing the first set of furniture they see. Dont be afraid to take pictures of all of the different furniture you are considering and compare them to see whether they complement each other if you plan to buy both.

A significant amount of office desks are made from woods like beech and oak. Buying used office furniture reduces the demand for deforestation, and can have a positive impact on the environment. Hundreds of kilometres of forest are destroyed each year to succumb to the demand of the industry recycling office furniture in this way reduces this alarming rate.

Compare the asking price of the second hand furniture you are considering to new furniture and other competitors who are offering similar used furniture. The whole point of buying used office furniture is to make savings. If the money saved is not too significant, it might be worth looking for an alternative.

The age of your product is a massive factor. If the product in question is still in warranty, then it may hold some value. The older the product, the more in value it depreciates so bear this in mind when you go to price your office furniture.

It is important to take pricing into account when you are selling your items. In the used furniture market, prices of items can be anything up to 75% less than the recommended retail price. Make sure your prices are reasonable and appealing to buyers without cutting yourself short and consider special offers for bulk purchases if you are selling a large number of products.

Dont be afraid to buy something different when you are on the lookout for second hand office furniture. For example, purchasing pigeon holes that you normally wouldnt budget for may increase the productivity of your office. Buying second hand doesnt mean you have to compromise the opportunity to purchase new types of furniture.

Make sure that you analyse the area where the used office furniture is likely to go. Measure the dimensions and calculate a maximum size for the furniture you wish to purchase. Take these measurements along to the trade and make sure that the furniture up for grabs corresponds to the criteria you have set out.

Being so inquisitive about your purchase is not unusual. After all, you are making a significant investment worth a lot of money so ensure that your investment is a worthwhile one. Remember: sometimes it can be a simple case of why, how, where and when.

Used office furniture can be brilliant for your home or business. Not only can it save you money, but the choice can be staggering. Like any other purchase though, it is a significant investment that should not be conducted lightly here are some factors to consider before you buy.

If glass is your material of choice, there are a couple of things to look for. Firstly, that the type of glass used for the tabletop is scratch resistant. Such glass needs little maintenance because it rarely needs cleaning and you should expect to find such items in an excellent condition when on the market.

Finding a platform to sell your products on is always an excellent place to start. The possibilities are endless with car boot sales, internet auctioning sites and classified ads in local media all viable options. If you are a business, it could be an idea to handle most of your business online as it allows you to sell your stock to more of a mass audience. This would give you a better chance of selling more substantial numbers of items.

Dedicated online businesses are having more and more of a presence in the used office furniture market. Popular with large businesses, these websites act as the middle men in business transactions between the seller and the buyer. This option brings a considerable amount of appeal, because some companies have a policy on the quality of used products, giving assurance to prospective customers.

Bear in mind your costing. Remember you are trying to get as much return from the sale of your furniture as possible. Take into account the commission that may be taken if you are selling online and the amount you may have to pay for being a concession at a car boot sale.

For meeting tables, the choice is clear: go for strong, sturdy woods like oak and mahogany. Paying more for these materials can prove worthwhile as they are reliable and long-lasting materials. Beautiful and practical, such tables act as a welcome addition to any office and complement most decor and colour schemes.

If you are buying used office furniture for a particular person, be sure to ask them for their preference. Different people have different tastes. Taking on board the preferences of the other people who use the office space can help you to make the best decisions.

Buy used office furniture that is ergonomic. If the furniture is designed ergonomically, you can be sure it will be geared towards the customer with design and comfort in mind. This has been proven to improve the concentration of your workforce and even has health benefits.

The benefits of recycling used office furniture are clear. For starters, recycling used office furniture can reduce the cost of disposal. Getting used office furniture recycled could be less expensive than getting it shipped to landfill.

Expert office furniture websites can offer you advice on how much your furniture would be expected to fetch. Some websites even offer to buy the product off you. Do bear in mind though that the offer is likely to be cheaper than what you get if you were to sell it yourself.

The features and materials outlined in this report represent the popular trends in the used office furniture market at the moment. Although they are likely to cost more, they can prove to be worthwhile investments and make your workforce more productive. In addition, they are likely to make your office look more appealing.

Online ticket brokering is the resale of tickets through a web-based ticket brokering service. Prices on ticket brokering websites are determined by demand, availability, and the ticket reseller. Tickets sold through an online ticket brokering service may or may not be authorized by the official seller. Generally, the majority of trading on ticket brokering websites concerns itself with tickets to live entertainment events whereby the primary officially licensed seller’s supply has been exhausted and the event has been declared “sold-out”. This “sold-out” status increases the ticket’s potential market value. Critics of the industry compare the resale of tickets online to ‘ticket touting’, ’scalping’ or a variety of other terms for the unofficial sale of tickets directly outside the venue of an event.

The late 1990s and early 2000s saw the emergence of online ticket brokering as a lucrative business. Corporate ticket reselling firm Ticketmaster developed a strong online presence, dominating the online market. But by 2006 Ticketmaster’s stranglehold on the industry loosened with the emergence of other online ticket brokering companies, such as StubHub who won Major League Baseball’s ticket resale business over Ticketmaster.

Securities analyst Joe Bonner, who tracks Ticketmaster’s parent company New York-based IAC/InterActiveCorp, told USA Today: “You have to look at the secondary market as something that is a real threat to Ticketmaster. They missed the boat. StubHub has been around a few years now already. They weren’t as proactive as they probably should have been.”

Eric Baker, founder and CEO of Viagogo.com, a European ticket resale Web site has described the loosening of Ticketmaster’s grip on the market as “the equivalent in the ticketing industry of the fall of the Roman Empire”.

By 2008 Internet ticket fraud had emerged as global problem, when fake ticket websites defrauded millions of dollars from sports fans by selling Beijing Olympics tickets which they had no intention of delivering.

Online Ticket Brokering Today

Due to the success of the secondary sale of tickets on the web, the line between ‘official’ (primary) ticket sellers and online ticket brokers (secondary sellers) has blurred. The two are now competing directly on a relatively level playing field: the internet.

Signs of Change

Signs of the new, mature online ticket business are cropping up.

Consultancy and training firms are increasingly focusing on this ‘cleaning up’ trend. Events such as Ticket Summit 2008 in the US, held by the Better Ticketing Association, are becoming more and more common. A look at the programme for this congress gives a good idea of the key indicators on the agenda of ‘professionalising’ online ticket brokering. Topics include: ‘Getting Legal’, ‘Media Relations’ and ‘Building Your Base: The Lost Art of Customer Service’. There are similar conferences in the UK, such as the ‘Ticket Touting: Going, GoingGone?’ conference held in London on 19 March 2008. Live UK Summit is another event that draws together ticketing agencies and other sectors involved in the live entertainment industry together in an open discussion forum.

Another sign of change is the increasing legitimisation of the internet as a free market environment for entrepreneurs. Many states in the US are repealing laws against ticket reselling. Five states have made the resale of tickets legal in 2007, with a Missouri senator stating, ‘It makes no sense that we would turn people into criminals for simply wanting to resell a ticket [].’

While the internet is becoming an increasingly safer place to shop, it is still not the place for the overly-cautious buyer. Online ticket brokering is legal in most countries, such as the UK and other European countries, and it is a profitable business venture. Venue owners and secondary ticket sellers debated this issue at the ‘Ticket Touting: Going, GoingGone?’ conference held in London on 19 March 2008, concluding that, for the time being, ticket resale is a legal and acceptable practice in the UK. This seems to suggest that ticket reselling is increasingly ‘above board’, forcing online brokers to promise their customers the same service expected from primary sellers. This overall sea change presents a real challenge to corporate strongholds and is forcing sellers on both sides to try new things.

Moving On Online ticketing’s emergence, difficulties and subsequent growth can be best understood as showing the more general trends found in any new web-based market. First, there is a ‘Wild West’ style boom, with companies opening websites without a vision of long-term commitment, looking more to make an initial profit with a ‘take the money and run’ attitude. What now seems to be happening in online ticketing is that a handful of those initial start-ups are maturing into ‘real’ businesses with all the sensibilities and concerns of their cousins in the real (non-web) world through re-branding and optimisation of their enterprise.

Comparative Markets Perhaps the best way to understand where the secondary ticket selling market is going and where it has been is to compare it to the book market online. It began with Amazon’s success as a primary supplier, supplementing direct sales with a secondhand book marketplace where sellers and buyers exchanged books. Today a number of websites like AbeBooks have appeared and optimised the marketplace idea, dropping the direct sales focus. In sum, the sale of secondhand books online has grown into it’s own as consumer-to-consumer exchange, leaving the web-based company host to online marketers.

It is an all too common scenario: you have fallen out of love with your lavishly furnished study because you have no need for it any more or simply do not have time to work in it. There are feelings of frustration at the amount of money spent on something that is sitting there, doing nothing. However, there is a way to get some of your hard-earned cash back; by selling your office furniture as second hand here are some tips on selling your items for financial gain.

Currently, ergonomic chairs are taking the world by storm. Modernistic and exclusive, they are comfortable as they are adapted for office use and can increase productivity. Difficult financial times mean that the chairs like this have become more readily available in the second hand furniture market.

Like other second hand furniture, places to buy can include car boot sales and flea markets. However, the most money to be made can be at dedicated antique auctions. Such marketplaces sell pieces of furniture with potential for profits of 50% to be made.

Classified ads in local media such as magazines and newspapers can prove to be an asset. Not only does buying locally greatly reduce the cost of such additional charges like postage, but there is potential to make great savings and evaluate products before purchase. Like other platforms for buying office furniture, this option is usually considered for small-scale investments by individuals and small businesses.

Like conventional business sites, auctioning sites offer a Buy Now option. This can cut the inconvenience of bidding and get you a buyer who wants to buy for a pre-determined sum. Your listing can have both options for purchase running alongside each other for extra cost.

You are likely to purchase your items from a variety of sources; a look you do not wish to achieve is one where all of your furniture are in mismatched colours and materials. When browsing with intention to buy, try and find furniture that is made from the same materials, like oak, for example. Consider sticking to a colour scheme.

Opportunists may consider looking in charity shops for desired office furniture. Generally priced reasonably and of acceptable quality, there are moral benefits as the profits from the sale go to good causes. Normally geared towards individual buyers, the opportunity could prove the perfect time to equip your home office or study.

If an asking price seems too low, then the likelihood is that the offer is too good to be true. The asking price normally serves as a rough representation of the product being offered. However, do remember that the sellers main objective is to get as much of a profit from the furniture being sold as possible a seller will nearly always add more price to a product than its actual value.

Like anything else, always exercise your common sense when it comes to buying used office furniture. If a seller on an auctioning website has no feedback, no photos of the product being sold and is difficult to contact, it may be best to consider purchasing from another seller. The market is a large and diverse one alternative purchases are never hard to find.

If the used office furniture you are selling is a popular brand name, then you are more likely to get higher amounts for it. This is because a reputable brand reassures customers of a high-quality. You should always make sure you name drop the brand when you are selling as it gives an advantage to purchasing your product.

There are many ways to sell the furniture you have. Work on finding a popular piece of furniture, and comparing the prices for them yourself. There may some methods that offer more cash than others.

The online auction business model is one in which participants bid for products and services over the Internet. The functionality of buying and selling in an auction format is made possible through auction software which regulates the various processes involved.

Several types of online auctions are possible. In an English auction the initial price starts low and is bid up by successive bidders. In a Dutch auction, multiple identical items are offered in one auction, with all winning bidders paying the same price — the highest price at which all items will be sold (treasury bills, for example, are auctioned this way). Almost all online auctions use the English auction method.

Strengths of the business model

The strategic advantages of this business model include:

1. No time constraints. Bids can be placed at any time (24/7). Items are listed for a number of days (usually between 1 and 10, at the discretion of the seller), giving purchasers time to search, decide, and bid. This convenience increases the number of bidders. 2. No geographical constraints. Sellers and bidders can participate from anywhere that has internet access. This makes them more accessible and reduces the cost of “attending” an auction. This increases the number of listed items (ie.: number of sellers) and the number of bids for each item (ie.: number of bidders). The items do not need to be shipped to a central location, reducing costs, and reducing the seller’s minimum acceptable price. 3. Intensity of social interactions. The social interactions involved in the bidding process are very similar to gambling. The bidders wait in anticipation hoping they will “win.” Much like gambling addiction, some bidders may bid primarily to “play the game” rather than to obtain products or services. This creates a highly loyal customer segment. 4. Large number of bidders. Because of the potential for a relatively low price, the broad scope of products and services available, the ease of access, and the social benefits of the auction process, there are a large numbers of bidders. 5. Large number of sellers. Because of the large number of bidders, the potential for a relatively high price, reduced selling costs, and ease of access, there are a large number of sellers. 6. Network economies. The large number of bidders will encourage more sellers, which, in turn, will encourage more bidders, which will encourage more sellers, etc., in a virtuous circle. The more the circle operates, the larger the system becomes, and the more valuable the business model becomes for all participants. 7. Captures consumers’ surplus. Auctions are a form of first degree price discrimination. As such, they attempt to convert part of the consumers’ surplus (defined as the area above the market price line but below the firm’s demand curve) into producers’ surplus.

Criticism

Auction sites, like garage sales, flea markets, classified advertisements and other independent sales venues, sometimes draw criminals wishing to sell stolen products, but for law enforcement organizations, finding stolen goods offered online is sometimes easier than more traditional detection methods.[1]

Some criticism is leveled at online auction websites for uneven representation of items offered for sale. Descriptions may omit important information, and photos may not be adequate. Potential bidders can typically protect themselves by reading the text, studying photographs and asking questions of the seller before bidding. Studies show that a large proportion of unsatisfactory online purchase experiences are the result of careless consumerism.[citation needed]

In the U.S., large retailers have lobbied Congress to require online auction sites to share private sales information about sellers, citing potential illegalities. Within the online auction community this is commonly viewed as an attempt at unfair market protection and trade restraint. Reduced overhead sometimes enables independent online sellers to offer goods at lower prices than large retailers.

Online auction selling has attracted millions of laid-off workers, as well as the disabled, parents of young children, retirees, pensioners and others that are unable to find employment in the mainstream workforce.[citation needed] Online auction venue corporations are accused of engaging in discriminatory trade practices that unfairly impact such customers. Presently, the trading practices of online auction venue corporations is not regulated by state or federal agencies.

Electronic Business, commonly referred to as “eBusiness” or “e-Business”, may be defined as the utilization of information and communication technologies (ICT) in support of all the activities of business. Commerce constitutes the exchange of products and services between businesses, groups and individuals and hence can be seen as one of the essential activities of any business. Hence, electronic commerce or eCommerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses [1].

Louis Gerstner, the former CEO of IBM, in his book, Who Says Elephants Can’t Dance? attributes the term “e-Business” to IBM’s marketing and Internet teams in 1996.

Electronic business methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers.

In practice, e-business is more than just e-commerce. While e-business refers to more strategic focus with an emphasis on the functions that occur using electronic capabilities, e-commerce is a subset of an overall e-business strategy. E-commerce seeks to add revenue streams using the World Wide Web or the Internet to build and enhance relationships with clients and partners and to improve efficiency using the Empty Vessel strategy. Often, e-commerce involves the application of knowledge management systems.

E-business involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. Special technical standards for e-business facilitate the exchange of data between companies. E-business software solutions allow the integration of intra and inter firm business processes. E-business can be conducted using the Web, the Internet, intranets, extranets, or some combination of these.