Competitive Bidding Quotes

Some in Westminster have talked about her receiving a state funeral when she dies, which seems a bizarre sort of tribute to someone who believed the state should do as little as possible. It would be far more appropriate to allow competitive bids from private companies to run the funeral arrangements. 'And we now go over live to Westminster, where state leaders are lining up for Lady Thatcher's funeral sponsored by McDonald's. And there we see the coffin respectfully borne on the shoulders of six part-time burger-flippers dressed in the official Ronald McDonald costume, before the private cremation when the body will be flame-grilled with gherkins and a slice of cheese.' It's what she would have wanted.

The relationship between the Sophotechs and the men as depicted in that tale made no sense. How could they be hostile to each other?” Diomedes said, “Aren’t men right to fear machines which can perform all tasks men can do, artistic, intellectual, technical, a thousand or a million times better than they can do? Men become redundant.” Phaethon shook his head, a look of distant distaste on his features, as if he were once again confronted with a falsehood that would not die no matter how often it was denounced. In a voice of painstaking patience, he said: “Efficiency does not harm the inefficient. Quite the opposite. That is simply not the way it works. Take me, for example. Look around: I employed partials to do the thought-box junction spotting when I built this ship. My employees were not as skilled as I was in junction spotting. It took them three hours to do the robopsychology checks and hierarchy links I could have done in one hour. But they were in no danger of competition from me. My time is too valuable. In that same hour it would have taken me to spot their thought-box junction, I can earn far more than their three-hour wages by writing supervision architecture thought flows. And it’s the same with me and the Sophotechs. “Any midlevel Sophotech could have written in one second the architecture it takes me, even with my implants, an hour to compose. But if, in that same one second of time, that Sophotech can produce something more valuable—exploring the depth of abstract mathematics, or inventing a new scientific miracle, anything at all (provided that it will earn more in that second than I earn in an hour)—then the competition is not making me redundant. The Sophotech still needs me and receives the benefit of my labor. Since I am going to get the benefit of every new invention and new miracle put out on the market, I want to free up as many of those seconds of Sophotech time as my humble labor can do. “And I get the lion’s share of the benefit from the swap. I only save him a second of time; he creates wonder upon wonder for me. No matter what my fear of or distaste for Sophotechs, the forces in the marketplace, our need for each other, draw us together. “So you see why I say that not a thing the Silent One said about Sophotechs made sense. I do not understand how they could have afforded to hate each other. Machines don’t make us redundant; they increase our efficiency in every way. And the bids of workers eager to compete for Sophotech time creates a market for merely human work, which it would not be efficient for Sophotechs to underbid.

But Mills also pointed to the common phenomenon known as the “winner’s curse,” in which two companies bid competitively to acquire a third, until the price climbs so high that it becomes less an economic activity than a war of egos. The winning bidders will be damned if they’ll let their opponents get the prize, so they buy the target company at an inflated price. “It tends to be the assertive people who carry the day in these kinds of things,” says Mills. “You see this all the time. People ask, ‘How did this happen, how did we pay so much?’ Usually it’s said that they were carried away by the situation, but that’s not right. Usually they’re carried away by people who are assertive and domineering. The risk with our students is that they’re very good at getting their way. But that doesn’t mean they’re going the right way.

Beginning in 2011, SpaceX won a series of contracts from NASA to develop rockets that could take humans to the International Space Station, a task made crucial by the retirement of the Space Shuttle. To fulfill that mission, it needed to add to its facilities at Cape Canaveral’s Pad 40, and Musk set his sights on leasing the most storied launch facility there, Pad 39A. Pad 39A had been center stage for America’s Space Age dreams, burned into the memories of a television generation that held its collective breath when the countdowns got to “Ten, nine, eight…” Neil Armstrong’s mission to the moon that Bezos watched as a kid blasted off from Pad 39A in 1969, as did the last manned moon mission, in 1972. So did the first Space Shuttle mission, in 1981, and the last, in 2011. But by 2013, with the Shuttle program grounded and America’s half-century of space aspirations ending with bangs and whimpers, Pad 39A was rusting away and vines were sprouting through its flame trench. NASA was eager to lease it. The obvious customer was Musk, whose Falcon 9 rockets had already launched on cargo missions from the nearby Pad 40, where Obama had visited. But when the lease was put out for bids, Jeff Bezos—for both sentimental and practical reasons—decided to compete for it. When NASA ended up awarding the lease to SpaceX, Bezos sued. Musk was furious, declaring that it was ridiculous for Blue Origin to contest the lease “when they haven’t even gotten so much as a toothpick to orbit.” He ridiculed Bezos’s rockets, pointing out that they were capable only of popping up to the edge of space and then falling back; they lacked the far greater thrust necessary to break the Earth’s gravity and go into orbit. “If they do somehow show up in the next five years with a vehicle qualified to NASA’s human rating standards that can dock with the Space Station, which is what Pad 39A is meant to do, we will gladly accommodate their needs,” Musk said. “Frankly, I think we are more likely to discover unicorns dancing in the flame duct.” The battle of the sci-fi barons had blasted off. One SpaceX employee bought dozens of inflatable toy unicorns and photographed them in the pad’s flame duct. Bezos was eventually able to lease a nearby launch complex at Cape Canaveral, Pad 36, which had been the origin of missions to Mars and Venus. So the competition of the boyish billionaires was set to continue. The transfer of these hallowed pads represented, both symbolically and in practice, John F. Kennedy’s torch of space exploration being passed from government to the private sector—from a once-glorious but now sclerotic NASA to a new breed of mission-driven pioneers.

He saw the fear in Miss Chadwick's unfocused eyes and the bright spark of rebellion. In the next moment, Miss Chadwick's wavering gray gaze found him in the far reaches of the room. And when her eyes locked with his, she refused to let go. He could no more look away from her than he could unleash the moon from its orbit. There was only one thing he could do. Speaking in a loud, clear tone, he entered the fray with a firmly stated offer that nearly tripled the last bid. His competition turned to glare at him for how suddenly he had brought an end to the entertainment. No one was willing to top such an exorbitant price. Avenell ignored them all. He was far too busy battling an intense internal war between disgust at what she had been subjected to and an alarming thread of triumph. Because no matter how they had both ended up here, no matter how wrong this all was... the woman who had been tormenting him for weeks now belonged to him.

His order cited "credible evidence" that a takeover "threatens to impair the national security of the US".Qualcomm was already trying to fend off Broadcom's bid.The deal would have created the world's third-largest chipmaker behind Intel and Samsung.It would also have been the biggest takeover the technology koo50 sector had ever seen.The presidential order said: "The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited. and any substantially equivalent merger. acquisition. or takeover. whether effected directly or indirectly. is also prohibited."Crown jewelSome analysts said President Trump's decision was more about competitiveness and winning the race for 5G technology. than security concerns.The sector is in a race to develop chips for the latest 5G wireless technology. and Qualcomm was considered by Broadcom a significant asset in its bid to gain market share.Image captionQualcomm has already showcased 1Gbps mobile internet speeds using a 5G chip"Given the current political climate in the US and other regions around the world. everyone is taking a more conservative view on mergers and acquisitions and protecting their own domains." IDC's Mario Morales. vice president of enabling technologies and semiconductors told the BBC."We are all at the start of a race. and you have 5G as a crown jewel that everyone wants to participate in - and every region is racing towards that." he said."We don't want to hinder someone like Qualcomm so that they can't provide the technology to the vendors that are competing within that space."US investigates Broadcom's Qualcomm bidQualcomm rejects Broadcom takeover bidHuawei's US smartphone deal collapsesSingapore-based Broadcom had been pursuing San Diego-based Qualcomm for about four months.Last week however. Broadcom's hostile takeover bid was put under investigation by the Committee on Foreign Investment in the US. a multi-agency led by the US Treasury Department.The US company had rejected approaches from its rival on the grounds that the offer undervalued the business. and also that any takeover would face antitrust hurdles.Earlier this year. Chinese telecoms giant Huawei said it had not been able to strike a deal to sell its new smartphone via a US carrier. widely believed to be AT&T.The US also recently blocked the $1.2bn sale of money transfer firm Moneygram to China's Ant Financial. the digital payments arm of Alibaba.

You want to build your BATNA through the RFP and determine which set of suppliers you will advance to the negotiation phase. Then you want to take control of the negotiation and establish the starting point by making the first offer. You should never discuss the supplier's bid. Instead, you should highlight the intense competition the RFP process generated and the number of other suppliers who are interested in working with you. You want to use the RFP to highlight competition and then start the conversation.

On the value of exclusivity: GoApe!'s 26‐year exclusive deal with the UK Forestry Commission would not have happened without Tristram Mayhew having thought ahead about how best to build a business whose business model could grow and how to maintain attractive profit margins. Keeping prospective competitors from bidding against him for future Forest Commission sites was a stroke of genius. You should try to do likewise whenever you can. It will help you keep competition at bay!

This picture is clear to Bruce Cobb, general manager of a company that sells cattle to meatpackers on behalf of feedlots. Cobb’s company, Consolidated Beef Producer, keeps reams of data on the cattle market. The state of competition is the lifeblood of his firm because it negotiates its sales. Cobb kept a database of feedlot auctions and sales for a one-year period in 2010. The database covered sales in Texas, Oklahoma, and New Mexico. It showed that during the year, there were only two weeks when all four of the big meatpackers were bidding for cattle.

Senior executives inside IBP realized that raising cattle was a waste of money. So at Garden City, IBP employed a new way to procure a steady stream of cows. It was called the “formula contract.” The formula contract created a way for IBP to lock in a steady supply of cattle without having to go out on the open market and haggle for them, as meatpackers always had. Instead, IBP signed contracts with a rancher or feedlot, agreeing to buy a set number of cattle at a set date.3 The price for those cattle, when they were delivered, was based on a formula rather than a competitive bid. IBP created a formula price that allowed the company to start controlling its cattle supply in a way that mimicked Tyson’s methods for controlling its chicken supply. IBP couldn’t simply dictate what kind of animals it slaughtered, the way Tyson did, but it could use contracts to exert influence over the ranches. IBP’s formula contained a series of discounts and premiums that rewarded some qualities in the cow while punishing others. These discounts were crude levels that IBP used to shape the kind of cattle ranchers raised. Early on, for example, IBP controlled the size of the cows ranchers delivered by discounting those that were too big and those that were too small. The formula acted as a market incentive all its own, slowly bending the characteristics of the cattle herd to IBP’s specifications. It was still a long way from the exacting control Tyson had over its chicken flocks, but the formulas would evolve over the decades.

The perceived decline of the West, coupled with the incompatible business practices, made it exceedingly difficult for Westerners to place competitive bids, particularly on land development projects that involved a great deal of risk and potential reward.

During this first term [as Burlington mayor in 1981] I discovered that the city was wasting substantial sums of money on its insurance policies. Companies, year after year, were getting the city’s business at substantially higher than market rates. I instituted a radical socialist concept, 'competitive' bidding, which saved the city tens of thousands of dollars.

This noncompetitive sale of public property for private gain was being duplicated around the country. The government has orchestrated the sale of state assets to new private business ventures that had close ties to top officials and their families. The government used the same dictatorial powers to declare privately held lands part of new “development zones” to sell those, in turn, to business ventures tied to the government. This was all done behind closed doors with no competitive bidding, public hearings or judicial review.

In 2009, Zeke and I decided to entertain suitors, in large part because Zeke’s charter school, the Equity Project, was in full swing.* It wasn’t an easy decision, but we felt that having a well-resourced parent would ensure that the company would thrive in the long term. After a competitive bidding process, we agreed to be acquired by Kaplan and the Washington Post Company in December of that year. I remember the day vividly. After all the documents were signed, I sat there and waited for the transfer to clear. I was sitting at my web browser, hitting refresh over and over again until it cleared in the late afternoon. And there it was. I let out a “Yeah!” and emerged from my office. I walked around dispensing checks to employees, as we had set aside a bonus pool for both staff and instructors. It’s a lot of fun giving away money. I was Asian Santa Claus for a day. I went home for the holidays the following week. At this point my parents were quite pleased with me; my assuming the mortgage on their apartment likely had something to do with that. I zeroed out my student loans that week too. I’d gone from scrapping and scrimping for almost a decade to being a thirty-four-year-old millionaire.

The National Audit Office would later discover that almost 500 suppliers with links to politicians or senior officials were referred to the channel. The advantage of this fast stream was that bidding firms were automatically treated as credible by government officials. The departure from standard procurement practice would lead to allegations of cronyism when it was exposed later in the year. Some of the deals would beggar belief. A small loss-making firm run by a Conservative councillor in Stroud was given a £120 million contract to import PPE from China without any competition. A vermin-control company valued at £19,000 was given £108 million to supply protective equipment.

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Citigroup was still on the sidelines, but he doubted they would raise their bid, especially if there was no competition.

This unstated coordination gave the producers of electricity what economists call market power, which means the ability to set prices higher than a competitive market would allow. Within less than a hundred rounds of bidding, Talukdar’s experimental auctions resembled not so much a competitive market as a cartel, in which many sellers obtain monopoly power by coordinating their actions to artifically inflate prices. That is what OPEC, the Organization of Petroleum Exporting Countries, does openly when members collude on setting the price of oil by limiting production.

Quoting page 150-151: Political camouflage, needed by legislators eager to please civil rights and minority organizations while avoiding punishment by voters for supporting racial quotas, was provided by the bureaucratic obscurity of the government’s procurement process. Voters did not understand the complexities of government contracting and agency regulation. … The weaknesses of minority set-asides were chiefly two. First, they were indubitably racial and ethnic quotas, and hence were politically controversial. As government benefits tied to ancestry, they violated the classic liberal creed that Americans possessed equal individual rights. … Nonminority contractors were barred by their ancestry or their skin color from even bidding on contracts paid for by taxpayer dollars, including their own. Second, and less obviously, set-aside programs produced a common set of flaws in implementation. The most severe problem was the concentration of set-aside contracts on a few successful firms. Agency officials, needing to spend a large amount of money on minority procurement contractors every fiscal year, found very few minority contractors able to do the job. Four-fifths of all certified minority firms had no employees, their personnel roster consisting solely of the owner of the enterprise. As a consequence, agency set-aside contracts were typically concentrated on only a few firms large enough and sufficiently experienced to meet the terms of the contracts, providing constructing, street paving, computer services, military uniforms, or other goods and services. In 1990, for example, only fifty firms, representing less than 2 percent of the certified minority firms in the 8(a) program, accounted for 40 percent of the $4 billion awarded. … such firms never seemed to “graduate” from the set-aside program, weaned from the incubator and ready to compete in the normal marketplace of competitive government contracting. … Almost all the contracts were awarded on a no-bid or “sole source” basis; in fiscal 1991, for example, only 1.9 percent of the 4,576 contracts in the 8(a) program were awarded on a competitive basis.

solar power generation of one of our states in western India creating 654.8 MW of solar energy power within a short time and started feeding into the grid. Another state in the south aims to add 3,000 MW of solar power in three years’ time. The reverse bidding process introduced by the Electricity Authority of India with the ceiling of rupees 15 per unit has brought in competition all of which is an advantage for the creation of clean green power. Now with increased competition, the state electricity boards are able to get the energy at an attractive price of rupees seven per unit. This may get further reduced when large scale installation and capacity addition takes place in a number of states and union territories. Such innovations should be multiplied and applied in all areas of energy production and management.