Global Online goods on auction block
Real estate and merchandise formerly owned by Global Online Direct, the Union company that dissolved last year amid allegations of securities violations, is up for sale.
HUGE AUCTION: Workers from the James G. Murphy Co. sort through Global Online Direct merchandise that will be auctioned in Portland April 8-10. Global did business in Union until June of last year, when it dissolved amid allegations of securities violations. - Photo/JAMES G . MURPHY COMPANY
On March 20, the U.S. District Court for the Northern District of Georgia authorized receiver Michael A. Grassmueck to sell five Global Online properties in Union County. And April 8-10 in Portland, a huge auction is scheduled to dispose of Global merchandise.
Global moved to Union County from Las Vegas in 2006. The company spent more than $3 million in real estate locally and established a warehouse headquarters in Union. Its holdings included two buildings at the Union County Airport industrial park.
Global, headed by Larry E. “Buck” Hunter and Bryant E. Behrmann, was in the business of buying discount merchandise from a variety of sources, then re-selling it in online auctions, and at yard sales, flea markets and retail outlets. Global Online Depository, also owned by Hunter and Behrmann, raised money for the inventory by soliciting loans.
The SEC alleges that Global promised returns on the loans of up to 1,100 percent. The agency says Global violated the Securities Act and failed to pay investors.
Global was placed in receivership last year. Its assets were seized and are being sold to recover money for investors.
Three of the Union County properties up for sale are located in Union and two others in La Grande. Grassmueck has a listing agreement with Roger Goodman, owner and principal broker of Century 21 Eagle Cap Realty.
WIDE VARIETY: Global Online Direct bought and sold a wide variety of items including generators, tools, home furnishings, toys and games, clothing, home electronics, health and fitness equipment and more. Before the company went out of business, it employed between 40 and 60 local workers. - JAMES G. MURPHY COMPANY PHOTO
In August 2007, the court approved Grassmueck’s application to employ Goodman as a property manager and broker
The auction, conducted for Grassmueck by James G. Murphy Inc., is scheduled to take place April 8-10 at 6700 Northeast 59th Place in Portland. It starts at 9 a.m. each day.
Merchandise includes shop equipment and tools, home furnishings and decor, yard and garden tools and accessories, toys and games, health and fitness equipment, clothing, entertainment items and automotive supplies.
Rolling stock going up for bid includes a tractor, pickup trucks, van trucks and trailers. Warehouse equipment on the block includes forklifts, pallet jacks to pallet racking and more.
For more information or to see the auction brochure, visit http://www.grassmueckgroup.com/global_online.php .