TITLE

ALCOA'S REAL ESTATE ON SALE: AUCTIONING NONDISTRESSED PROPERTIES

AUTHOR(S)
Weinstein, Margot B.; Good, Steven L.; Stanley, Kenneth L.; Bezik, Mark H.
PUB. DATE
January 2007
SOURCE
Annual Advances in Business Cases;2007, p78
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Alcoa, one of the world's leading producers of primary aluminum, fabricated aluminum and alumina, owned several commercial and industrial properties that were costly to maintain but were not critical to any of their primary activities. In order to enhance its 2003 fiscal year performance, Alcoa's management decided to sell a portfolio of 10 non-distressed commercial properties. The portfolio consisted of industrial, warehouse, manufacturing, improved, and vacant properties located in eight states throughout the United States. Mr. Steve Good, Chairman and CEO of Sheldon Good & Company (SG&C), was attempting to convince Alcoa to use an auction process instead of the traditional brokerage approach, to sell these properties. The case compares and contrasts auctions versus the traditional brokerage approach to selling nondistressed real estate.
ACCESSION #
48151740

 

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