Enable
Holdings, Inc. Appoints Bob Geras To Its Board of
Directors
Asset
Recovery Leader Selects Accomplished Businessman To Its Leadership
Group
Chicago,
November 19, 2008
- Enable
Holdings, Inc. (ENAB.OB), the leading asset recovery solutions company
for the
world's most trusted brands, today announced it has appointed Bob Geras
to its
Board of Directors.
Known
as
the "Godfather" of Chicago area technology investors, Bob Geras has founded,
operated, mentored and/or funded a number of successful companies throughout
his
distinguished career. Mr. Geras was recognized as "Angel Investor of the
Year"
in 2002 by the Chicago Software Association and was inducted into the "Chicago
Area Entrepreneurship Hall of Fame" in 2006. In 1968, He co-founded Sixpence
Inns, which was acquired by Motel 6 twenty years later.
President
and sole owner of LaSalle Investments for 30 years, Mr. Geras is a Founding
Director of the Illinois Venture Capital Association and is involved with
a
number of venture funds, such as K-B Partners, Dunrath Capital Partners,
Ceres
Venture Fund, and the Illinois Accelerator Fund.
"I
am
looking forward to being a Director of Enable Holdings," said Geras. "I
see the
outstanding potential of this company, and I believe the new business model
with
its multiple channel distribution strategy is perfect for this tough economy.
Excess inventories are always an issue and are going to be an even bigger
problem ahead. Enable Holdings is uniquely well positioned for growth into
2009
and beyond."
Enable
Holdings Inc.'s multi-channel asset-recovery solution includes online auction
platform uBid.com, fixed-price online commerce solution RedTag.com, offline
excess inventory solution RedTag Live!, business-to-business solution Dibu
Trading Corporation, and its private auction software, Commerce
Innovations.
"Bob
brings a wealth of experience through his distinguished career as an
entrepreneur and venture investor," said Enable Holdings, Inc. Chief Executive
Officer Jeff Hoffman. "We're extremely proud to be working with Bob as we
continue to implement our new strategy of becoming the most comprehensive
excess
inventory solutions provider."
For
more
information please visit www.enableholdings.com.
About
Enable Holdings, Inc.
Enable
Holdings, Inc. is a leading asset recovery solutions company for the world's
most trusted brands. Enable Holdings connects brand names with excess inventory
solution needs to customers through its multi-channel asset-recovery solution
that includes online auction platform uBid.com, fixed-price online commerce
solution RedTag.com, offline excess inventory solution RedTag Live!,
business-to-business solution Dibu Trading Corporation, and upcoming private
auction software solution Commerce Innovations.
Enable
Holdings' comprehensive solution set efficiently matches sellers and buyers
through its various distribution channels. Enable Holdings has helped thousands
of businesses sell over $2 Billion of excess inventory over the past 10
years
and has saved consumers hundreds of millions of dollars in the
process.
SEC
Filings and Forward-Looking Statements
Additional
information about Enable Holdings, Inc. is in the company's annual report
on
Form 10-K, filed with the Securities and Exchange Commission.
Certain
statements made in this release are "forward-looking statements" within
the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including statements
using terminology such as "anticipate," "believe," "estimate," "expect,"
"intend," "may," "could," "possible," "plan," "project," "should," "will,"
"forecast," and similar words or expressions. Enable Holdings, Inc. intends
that
all forward-looking statements be subject to the safe harbor provisions
of the
Private Securities Litigation Reform Act. Forward-looking statements are
based
on the then-current expectations, beliefs, assumptions, estimates and forecasts
about the business of Enable Holdings, Inc. and the industries and markets
in
which Enable Holdings, Inc. operates. These statements are not guarantees
of
future performance and involve risks, uncertainties and assumptions, which
are
difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or implied by these forward-looking
statements. Factors which may affect the forward looking statement identified
above and Enable Holdings, Inc.'s business, financial condition and operating
results generally include the effects of adverse changes in the economy,
reductions in consumer spending, declines in the financial markets and
the
industries in which Enable Holdings, Inc. and its partners operate, adverse
changes affecting the Internet and e-commerce, the ability of Enable Holdings,
Inc. to develop and maintain relationships with strategic partners and
suppliers
and the timing of its establishment or extension of its relationships with
strategic partners, the ability of Enable Holdings, Inc. to timely and
successfully develop, maintain and protect its technology and product and
service offerings and execute operationally, the ability of Enable Holdings,
Inc. to attract and retain qualified personnel, the ability of Enable Holdings,
Inc. to successfully integrate its acquisitions of other businesses, if
any, and
the performance of acquired businesses. Enable Holdings, Inc. expressly
disclaims any intent or obligation to update these forward-looking statements,
except as otherwise specifically stated by Enable Holdings, Inc.