Liquidity Services introduces a list of
recommendations to accelerate DOGE's
mission to create greater government efficiency and cost
savings.
BETHESDA, Md., Jan. 21,
2025 /PRNewswire/ -- Liquidity Services (NASDAQ:
LQDT), operates the world's largest marketplace for surplus assets
to benefit buyers, sellers and the planet. Working with thousands
of government agencies at the Federal, state and local levels over
the past 25 years, we have leveraged our expertise to deliver over
$10 billion of proceeds to its agency
clients from selling surplus, idle and underutilized assets in
hundreds of categories, including vehicles, equipment and real
estate. As we enter the New Year, we offer the new Trump
administration the following five ideas to support the Department
of Governmental Efficiency's (DOGE)
quest to drive big improvements in efficiency and cost savings for
the U.S. taxpayer.
1.
Free Up Billions Trapped in Underutilized Real Estate
Today there exists significant untapped value with Federally
owned HUD assets, office buildings, and land parcels that could be
quickly moved off the balance sheet of the Federal government to
not only generate cash but to reduce operating and maintenance
costs. We recommend utilizing online auctions to monetize these
surplus, idle and under-utilized Federal real estate assets through
transparent, competitive private sector bidding to maximize
value.
2.
Empower Agencies to Implement Better Asset Management
We recommend allowing Federal agencies to act independently and
make their own decisions regarding the redistribution or sale of
unused and surplus assets, which can be expensive to insure, store
and maintain. From military gear to office supplies, these assets
are sold through online auctions every day in the private sector,
but some Federal government agencies are forced to use less
effective methods. By granting individual Federal agencies the
freedom to make quick sale decisions and take cost-saving actions,
they can realize fair market value for assets they no longer need.
This leads to better efficiency, lower costs, and smarter use of
resources.
3.
Leverage Commercial Solutions for Asset Disposal
We recommend authorizing Federal agencies to use existing
commercial solutions to handle their excess assets, which can be
more efficient and cost-effective than a centralized government-run
system. Private sector online auction marketplaces have aggregated
millions of qualified bidders with billions of dollars of
successfully completed sales for the same commodities owned by the
Federal government. These solutions offer the Federal government
immediate access to a larger buyer base with no upfront fees,
staffing or infrastructure support costs to accomplish the goal of
delivering savings to the U.S. taxpayer.
4.
Liquidate Specialty Items No Longer Deemed
Strategic
We recommend utilizing the full breadth of online platforms to
allow the Federal Government to monetize unique specialty items,
such as coins, signs, statues, mementoes and artifacts that are no
longer viewed as strategic. Based on its experience, private sector
marketplaces can assist the Federal Government in identifying,
valuing and selling such items to audiences of enthusiasts and
collectors, providing significant financial gains for the Federal
government.
5.
Match Open Requisitions with Available Surplus Items
We recommend the Federal Government utilize commercially
available software tools, such as AssetZone, to enable it to
reallocate existing surplus assets in its supply chain to meet a
need of another agency's open requisition in the Federal
Government. By efficiently allowing the Federal Government to match
assets that are surplus in one agency and needed by another agency,
we can reduce waste, save costs and reward those meeting
sustainability goals in the Federal government.
"We firmly agree with the DOGE
agenda to cut government waste, fraud, and abuse," says Bill
Angrick, Chairman, CEO and Co-Founder at Liquidity Services.
"As a champion for efficient usage of resources for more than 25
years, Liquidity Services can offer unique insights on realizing
this potential savings. We are happy to offer our assistance in
whatever way is useful to the new administration."
By thinking outside the box with asset recovery, giving agencies
more freedom, and using commercial technology enabled solutions,
Liquidity Services believes DOGE can
help upgrade government operations, unlock cost savings, and drive
sustainability.
For more information on Liquidity Services' vision for
DOGE and government asset
management, visit https://liquidityservices.com/.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world's largest
B2B e-commerce marketplace platform for surplus assets with over
$10 billion in completed transactions
to more than five million qualified buyers and 15,000 corporate and
government sellers worldwide. The company supports its clients'
sustainability efforts by helping them extend the life of assets,
prevent unnecessary waste and carbon emissions, and reduce the
number of products headed to landfills.
Contact:
Liquidity Services, Inc.
Investor Relations
investorrelations@liquidityservicesinc.com
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SOURCE Liquidity Services
