Reverse auction Background Reverse auction‚ also known as downward price auction‚ is a kind of competitive bidding event where more than two suppliers compete for a single buyer’s business. During the bidding period‚ the price is driven down‚ as the suppliers compete for the chance to offer their specified product/service at a price which is set by the market environment of the reverse auction. Such auctions are commonly used by organizations and companies as a tactical way to achieve their
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Corruption-free ODA program: A national priority By Albert F. del Rosario Philippine Daily Inquirer First Posted 00:13:00 07/28/2008 Filed Under: Foreign Aid‚ Graft & Corruption‚ civil society‚Migration MANILA‚ Philippines--Official Development Assistance (ODA)‚ though sourced from abroad‚ is the money of the Filipino people. These precious resources are negotiated in the name of the Republic‚ for the national interest‚ and for development to improve the quality of life of all the people
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in Animal Farm‚ Napoleon‚ had many interesting traits but as the story progresses he evolves into a different character. In the beginning of the novel‚ Napoleon is not much of a big figure. “Napoleon was a large‚rather fierce looking Berkshire boar‚ the only Berkshire on the farm‚ not much of a talker‚ but with a reputation for getting his own way.”(Orwell 5) This description of napoleon describes him as being one of a kind in the entire farm and having a great status of getting what he wants‚ but
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Orwell uses characterization to develop the theme of absolute power corrupts. For instance‚ characterization develops the theme‚ absolute power corrupts‚ since the president of Animal Farm‚ Napoleon‚ is a “...large rather fierce looking Berkshire boar‚ the only Berkshire on the farm‚ not much of a talker but with a reputation of getting his way.” (Pg 11). Therefore‚ this quote shows that Napoleon is a very persuasive yet quiet and mean looking pig which is how Napoleon gained absolute power‚ by being
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Executive Summary On November 28‚ 2008‚ The Dow Chemical Company entered into a Joint Venture with State of Kuwait run Petrochemical Industries Company ("PIC"). “PIC” is a wholly owned subsidiary of State owned Kuwait Petroleum Corporation ("KPC"). to launch K-Dow Petrochemicals‚ a planned joint venture. PIC was to have paid pay Dow $7.5 billion US dollars for its stake. The deal was approved by Kuwait’s Supreme Petroleum Council (SPC). The head of the SPC is the Prime Minister of Kuwait
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to accept that an odious act like rigging a public bidding can get the public officer responsible for it wholly absolved of liability just because he was not a member of the bids committee that chose the winning bid. The Facts and the Case On April 7‚ 1997 the President of petitioner National Power Corporation (NPC) filed an administrative action against respondent Rodrigo A. Tanfelix‚ a Supervising Mechanical Engineer‚ for rigging the bidding for the construction of the wind break fence of its
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Once the target firm is chosen the bidding firm’s next step is calculating the target firm’s worth. This is done through the process called valuation. The motive for acquisition will guide the bidder on the method used to evaluate the target firm. Some common reasons for acquisitions are that the target firm is undervalued‚ the bidding firm is looking to diversify‚ create economies of scales‚ poorly managed firms‚ or managerial self-interest. If the bidding firm is acquiring the firm due to it being
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WO R K I N G PA P E R S E R I E S N O. 3 5 9 / M AY 2 0 0 4 THE LONGER TERM REFINANCING OPERATIONS OF THE ECB by Tobias Linzert‚ Dieter Nautz and Ulrich Bindseil WO R K I N G PA P E R S E R I E S N O. 3 5 9 / M AY 2 0 0 4 THE LONGER TERM REFINANCING OPERATIONS OF THE ECB 1 by Tobias Linzert 2‚ Dieter Nautz 3 and Ulrich Bindseil 4 In 2004 all publications will carry a motif taken from the €100 banknote. This paper can be downloaded without charge from http://www
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Abstract Financial Innovation has been the backbone of our modern financial system. It has revolutionised the way we spend‚ receive and borrow money‚ however through the recent global financial crisis and negative connotations that have been attached to the term‚ people have doubted the positive notions it has had. It is important to distinguish between innovation itself and how it can be used or misused. Recent Financial Innovation has thwarted real economic growth and has been the blame for the
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Chapter 1 – INTRODUCTION 1.1 Background of the Study Internet auctions appeared on the scene in the mid 1990s‚ and quickly became one of the most successful applications of electronic commerce. EBay‚ the premier consumer-to-consumer (C2C) Internet auction site‚ is generally held up as an exemplar for the industry. However‚ it is widely predicted that the potential transaction volume in business-to-business (B2B) auctions will be much greater than in the C2C channel (Keenan‚ 2000; Rosenthal
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