Hudson & Marshall Inc. was founded in 1965 by law school classmates, B. G. Hudson Jr. and Asa M. Marshall, III. The company began by subdividing farms into small acreage tracts in the Middle Georgia area and appealing to buyers seeking a move to suburbia.
In 1970, after successfully liquidating real estate and equipment in Macon and Atlanta for the Minnie Pearl national restaurant chain, the firm was awarded a contract to liquidate all of the national locations of the chain. Accomplishment of this task lead to several similar national liquidations of other failed restaurant chains.
Also, in the early 1970's the firm pioneered the "ballroom" or "metro" auction when contacted by the Citizens and Southern National Bank (predecessor to NationsBank) to assist in the disposition of the bank's rapidly growing foreclosure portfolio.
The nationwide operation of the firm continued in the early 1980's. In one 30 day span, the firm liquidated 78 Woolco Department stores (a division of Woolworth's).
In 1983 the company opened an office in Rockledge, Florida and in Dallas, Texas in 1985 along with Los Angeles, Ca in 1993. The new offices became important centers for new business. Following the expansion, and coupled with the serious real estate recession in Texas, the company became the primary source for Federal National Mortgage Association (FNMA) to auction their more than 8,000 foreclosures on a national basis. During the period 1985 to 1987, the company was selling from 10 to 20 million dollars a month for FNMA.
The collapse of the savings and loan industry created the formation of the Resolution Trust Corporation (RTC). When RTC was formed by Congress, Hudson & Marshall was well positioned to work with and educate the new government entity on the auction method of selling assets quickly. From March 1991 through its termination on December 31, 1995, Hudson & Marshall conducted more than 100 auctions for RTC, generating approximately 1 billion dollars in sales. Hudson & Marshall conducted more auctions for RTC than any other auction company during this period. Included in the auctions were the sales of financial instruments (notes), a completely new product for potential auction business.
The F.D.I.C., successor to RTC, continued to utilize the auction method to dispose of large amounts of assets quickly, and Hudson & Marshall continues to represent F.D.I.C. in these liquidations. In addition, other governmental agencies, including the U.S.' Marshall Service, U.S. Postal Service and Small Business Administration (SBA) have successfully utilized the services of Hudson & Marshall.
In 1995 Hudson & Marshall contracted with the Federal Communications Commission (FCC) to sell broadband personal communications in major trading areas and conducted a 10.5 billion dollar auction over the Internet, the largest auction of anything sold at auction in history.
At the conclusion of the 1996 Olympic Games in Atlanta, Hudson & Marshall won the contract awarded by the Atlanta Committee for the Olympic Games to liquidate all of the assets left over from the Games (The Remains of the Games). The company conducted a series of ten auctions, selling more than 200,000 items of personalty to more than 25,000 attendees. The success of the auctions tilted the Atlanta Centennial Games profit and loss statement from red to black.
H & M remains loyal to the Middle Georgia Area. Hudson & Marshall is still very active where the company's long history began. Staying close to the local community keeps us grounded and focused on quality auctions and customer appreciation. Land & farm sales are conducted regularly along with municipal government surplus, estate and personal property auctions. Sign up for our newsletter for more up to date auction info.
Because of Hudson & Marshall's 42 year track record, impeccable reputation, and name recognition in the industry, the company is poised and positioned more than any other to effectively market assets on a national basis.
Copyright 2007 Hudson & Marshall Inc.