Mr. Buffett, who was given credit by Mr. Fayard for suggesting seeking those bids, said he was confident those values would be fair because any investment bank that submitted prices too high or too low would run the risk of Coke forcing the bank to buy or sell options at those unreasonable prices.
Users that submit prices earn points, and there are plans to add a check-in loyalty element to the app.
Perhaps Proctor's biggest challenge: The Web site relies on volunteers around the country, dubbed "spotters," to collect and submit pricing data from their respective areas.
The sponsor's submitted cost models adopted an NHS perspective in 2012 prices.
The Truth in Negotiations Act (Tina), which was signed into law in 1962, required that companies seeking a negotiated government contract submit "cost and pricing" data.
I knew my credit card would be charged the moment I submitted my price and a match was found and, as with other auction sites, there would be no refunds.
And in Sacramento, Californian legislators were told that energy firms submitted false prices to firms such as Dow Jones and Platts that publish energy-price indices.Such news has started a vicious cycle of downgrades by credit-rating firms, loss of access to financing and demands for greater collateral.
Iraq had submitted low prices for crudes so that it could impose a surcharge of 50 cents a barrel on customers outside the UN oil-for-food programme.
Sarah Alspach, a spokeswoman for Glaxo, said the company had voluntarily submitted its pricing data to Medicare to prove that the hospital claims data was wrong.
Well, the California bids are in — that is, insurers have submitted the prices at which they are willing to offer coverage on the state's newly created Obamacare exchange.
