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G.I. Joe's began in 1952 when Edward Orkney purchased army surplus sleeping bags and then set up a tent in Portland, Oregon, to sell them to the public. [3] Orkney sold out of the sleeping bags and then started selling other army surplus merchandise in a store that then doubled in size by 1956, [3] making it Portland's largest retailer of sporting goods and outdoor gear.
The Surplus Record has been available online since 1986, [4] when buyers would use 2400-baud modems to access it. Currently, it is the largest online directory in the world for surplus capital equipment. [5] The company started its own online auctions in 1999, [1] [6] a year before it was acquired.
The Market of Choice stores are owned by Market of Choice, Inc. The company began in 1979 with a single store owned by Richard Wright, Sr. in Cottage Grove, Oregon. [2] The company is now run by the founder's son, Rick Wright. Rick reorganized his father's company, which included Price Chopper and Thriftway stores, and created Market of Choice.
Auctioneers and sellers would post notices describing items for sale, minimum bids, and closing times. [8] As the popularity of online auctions grew, websites dedicated to the practice began to appear in 1995 when two auction sites were founded. [9] The first online auction site was Onsale.com, founded by Jerry Kaplan in May 1995. [10]
A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders. The auction system assigns the items in a socially optimal manner: it charges each individual the harm they cause to other bidders. [1]
A dealer auto auction is a specialized form of auction. Millions of vehicles are sold at such dealer auto auctions every year. These auctions are restricted to the general public and only licensed dealers can participate. Prices of vehicles sold at dealer auctions tend to be lower than those advertised on any dealer's lot.
The McNary–Haugen Farm Relief Act, which never became law, was a controversial plan in the 1920s to subsidize American agriculture by raising the domestic prices of five crops. The plan was for the government to buy each crop and then store it or export it at a loss. It was co-authored by Charles L. McNary (R-Oregon) and Gilbert N. Haugen (R
The surplus-value produced by prolongation of the working day, I call absolute surplus-value. On the other hand, the surplus-value arising from the curtailment of the necessary labour-time, and from the corresponding alteration in the respective lengths of the two components of the working day, I call relative surplus-value.
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