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Stanley Tate to Chair Ameribid Board

LAS VEGAS-The former chairman of the National Advisory Board of the Resolution Trust Corp. will head up an "accelerated disposition" company recently launched by veterans of the auction industry.

By Brian K. Miller | Updated on March 14, 2008

LAS VEGAS-Ameribid, a new company formed by veterans of the auction industry to capitalize on the foreclosure crisis has landed as chairman of their board of directors Stanley Tate, former chairman of the national advisory board of the Resolution Trust Corp. Company officials believe Tate’s experience with the problems with the REIT industry in the mid-1970s and then with the RTC and housing crisis of the late 1980s and early 1990s “will play an integral role” in the strategic direction of the company.

Ameribid was set up to provide financial institutions, government agencies, REITs, hedge funds and bankruptcy courts with accelerated asset disposition services via the auction process. Part of the company’s plan is to return a portion of the marketing savings and/or a portion of the earned conversion revenue with affected communities through direct donations, matching-grants, community challenges and sponsorships.

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