uBid Holdings, Inc. Finalizes its Board of Advisors

ITASCA, Ill., June 29, 2011 /PRNewswire/ -- uBid Holdings, Inc., the parent company of subsidiaries uBid.com, Inc. and uBid Business Technologies, Inc., today announced it has finalized formation of the company's Board of Advisors.

"The addition of these accomplished business professionals to our Board of Advisors is an important and significant step in uBid's ongoing transformation," said Scott Koerner, President and CEO of uBid Holdings, Inc. "Building upon a firm 'people foundation' is a critical factor in uBid's growth and success in both the near and long term."

uBid's Board of Advisors is comprised of highly successful local entrepreneurs and business leaders with diverse industry experience, whose goal is to advise and support uBid's Board of Directors and management team of the best ways to execute on and optimize the tremendous opportunities uBid has before it.

John Walter

John Walter is Chairman and CEO of Ashlin Management Company, a private investment and management services firm located in Chicago. John is the retired President and COO of AT&T Corporation, a position he held from 1996 to 1997, and retired Chairman and CEO of R.R. Donnelley & Sons Company, a position he held from 1989 to 1996. Mr. Walter has been a Director of Manpower Inc. since 1998 and served as the Non-Executive Chairman of the Company from 1999 to 2001. He is currently a Director for VASCO Data Security, Inc., Echo Global Logistics, InnerWorkings, Media Bank, LLC; and Chairman Emeritus of NorthShore University HealthSystem Foundation (formerly Evanston Northwestern Healthcare).

Mr. Walter has previously served on the boards of other companies including Groupon, LLC, Deere & Company, Abbott Laboratories, Inc., Target Corporation, Jones Lang LaSalle, and served as Chairman of the Board of Directors of SNP Corporation, Ltd. (Singapore). Mr. Walter is currently on the Board of Trustees for Steppenwolf Theatre, Northwestern University, African Wildlife Foundation, and Boca Grande Health Clinic. Mr. Walter earned his Bachelor of Science degree in Management and holds an Honorary Doctorate Degree from Miami University, Oxford, Ohio.

Alex Vetter

Alex Vetter is Senior Vice President of Advertising for Cars.com. As one of the original members of the Cars.com team, he has helped steer the company's growth strategy from concept into a multi-faceted sales and distribution model that spans all aspects of internet marketing, including local, mobile and social media. Through Mr. Vetter's leadership, Cars.com has grown to over 1000 employees and 500 sales executives that serve every local market in the United States. He has operated in nearly every capacity at Cars.com, spanning product development, customer service, training, operations and currently oversees all revenue generating activities for the local online retailer. Through his work, Alex has helped establish a vibrant local marketplace for cars, enabling e-commerce activities with over 18,000 retailers who connect with site users on a daily basis. Vetter received his bachelor's degree from Providence College, where he was a four-year Division I athlete. In 2007, Vetter was named one of the 40 under 40 executives by Crain's Chicago business.

Brian McCormack

Mr. McCormack founded and served as CEO of McWitt Graphic Communications and was a Founder and Director of InnerWorkings, Inc., which was listed as one of Forbes Magazine's "2010 Best Small Companies to Work For" (NASDAQ listed 2006 INWK). Mr. McCormack will also begin serving as a director for EZ Links Golf Corp.

Basil Falcone

Mr. Falcone is the former Vice Chairman/Co owner of General Drug Company, the 11th largest US pharmaceutical distributor; Co owner of Omaha Vaccine & American Veterinary Pharmaceutical Companies." He currently is a member of the Board of Regents, Bastyr University, Seattle, Washington; a member of the Economic Club of Chicago and the Presidents Circle, Chicago Council on Global Affairs.

Ken Hunt

Mr. Hunt is Founder, Chairman of the Board and Chief Executive Officer of VASCO Data Security International, Inc., and is Chairman of the Midwest Council of TechAmerica, the nation's largest high-tech trade association, former President of Belgian Business Club of Chicago, and a current member of The Economic Club of Chicago. He was recently named by Governor Quinn to the newly formed Illinois Innovation Council. Mr. Hunt also serves on two Advisory Boards at the University of Miami in Florida - the President's Council and the Board of Overseers for Miami's School of Business. Mr. Hunt holds an MBA from Pepperdine University, Malibu, California, where he recently received the Distinguished Alumnus Award, as well as a BBA from the University of Miami.

Richard Doermer

Mr. Doermer is President of Richard D. Doermer, Ltd., a boutique law firm focusing on family law, and is a member of the Chicago and the Illinois State Bar Associations. He has been involved as an investor in various early stage companies in the biotech, entertainment and software industries, and founded McNabb Nutraceuticals, LLC, a line of natural sun block products, and developed Techbionic, S.A., an agribusiness which specializes in farming, processing, formulating and distributing exotic oils, herbs and botanical products. Mr. Doermer is a Trustee Board member of the Allendale Association in Lake Villa, IL, a Development Board member of PAWS Chicago and a member of the Board of Directors, Executive Committee and First Vice President of the Union League Club of Chicago's Civic and Arts Foundation. He has authored a book entitled Transitions – Helping Children Through Divorce: A Guide for Parents.

"Collectively, the years of experience and knowledge of these professionals are a tremendous asset for uBid," said Koerner. "Each brings his own expertise, which together forms a powerful winning combination - and uBid is very fortunate and excited to have them as part of our team."

Messrs. Walter, Vetter, McCormack, Falcone, Hunt and Doermer join Inaugural Board of Advisors member, Howard Tullman, and uBid's Board of Directors' Chairman Bob Geras, President of LaSalle Investments, and Directors Matt Maday, President of OnCall Interactive, and CEO Scott Koerner, to leverage their individual experience and collaborative strength for the common goal of guiding uBid Holdings, Inc. to optimize its tremendous potential.

About uBid Holdings, Inc.

uBid Holdings, Inc., based in Itasca, IL, is a technology-focused enterprise that along with its wholly owned subsidiaries owns and operates the online marketplace uBid.com which has been one of the top web retail markets selling excess, closeout and recertified products covering more than 25 categories since its launch in 1997. uBid's longstanding partnerships with thousands of top sellers and manufacturers, representing brands including HP, Sony, Samsung, Toshiba, Asus, Dell, Olympus, Lenovo and many others, gives uBid's 6 million members access to one of the web's largest online marketplaces, while offering the unique options of both fixed price and multi-unit auction-style sales of multiple products. uBid.com also powers a sister site called redtag.com, which offers a single new deal every day, consistently representing outstanding values that can be found nowhere else on the web. uBid Business Technologies, Inc., based in El Segundo, CA, provides B2B services to customers in small and medium sized firms in government, healthcare and other industries.

Contact:
Nancy L. Ragont
Vice President, Marketing, uBid Holdings, Inc.
[email protected]

SOURCE uBid Holdings, Inc.