The weekly newsletter for everyone interested in barter--the world's most versatile business tool!
February 25, 2003
Written by Bob Meyer, Editor of BarterNews
News On Publicly-Traded Barter Companies
ITEX's New Board Of Directors Aims To Reduce Costs
In our February 4 edition we reported on the replacement of the outside Board of Directors at the ITEX Corporation (OCTBB:ITEX).
The new board has quickly moved forward with actions aimed at reducing legal, accounting, and professional fees to save a contemplated $25,000 per quarter through the remainder of fiscal 2003.
Any and all potential loans from the company to directors or officers have been eliminated from the by-laws. And half of the $150,000 approximate costs related to the January proxy contest is being disputed, i.e. $75,000 of the cost paid to various parties engaged by the former outside board of directors.
The company also expects to realize a cash savings of $35,000 per quarter based on the absence of cash compensation for the directors. (Previous directors were drawing this amount of cash per quarter.)
Additionally, a significant number of shares (that former outside directors granted themselves) have been canceled, after advice was obtained from an independent financial consultant.
Bentley Communications Closes On Bartercard USA
As noted in our February 4 issue, Bentley Communications Corporation (OTCBB:BTLY) has finalized the acquisitions of Bartercard USA (www.bartercardusa.com) and First National Information Network (www.fnin.com). Each will become a wholly owned subsidiary.
Gordon Lee, Chairman of Bentley, stressed that, "both companies are cash flow positive and will continue aggressive growth as a result of going public, as well as increasing shareholder value for us."
Bentley also announced that Lynnea Bylund, managing director of Catalyst House (www.catalysthouse.com), will handle the investor relations for the company.
International Monetary Systems Listed On CEOcast.com
The February 17 issue of CEOcast's weekly online newsletter listed IMS as a "special situation" recommendation to the site's readers, primarily micro-cap and small-cap investors. International Monetary Systems (OTCBB:INLM) president Don Mardak was especially pleased with the coverage, stating, "These are the type of investors who should hear the story of our growing company." For more information on International Monetary Systems click here.
Every barter company in the world (outside the USA) is listed here click through to our global list of barter companies.
Advertising Kiosks Exchanged For Rights To Sell Ad Space
Sleek new bus shelters by outdoor advertising giant JCDecaux will be seen on the sidewalks of Chicago and Los Angeles soon, as the Paris-based company recently signed with those cities to install thousands of shelters--advertising kiosks--and other sidewalk amenities in exchange for the right to sell ad space on them.
Decaux pioneered so called "street-furniture" advertising in France in the 1960s and has spread the concept to major cities across Europe. (In Europe, Decaux bus shelters are so well maintained that upscale brands such as Christian Dior and Chanel happily advertise on them.)
In a recent contract with Vancouver, as well as the one in L.A., Decaux bid jointly with the outdoor advertising unit of Viacom. The company reports that it's gearing up for an even bigger deal in New York next year.
WTO Meeting Shows Difficulty In Finding Global Common Ground
Exporting giants seeking new markets, and nations intent on protecting their own farmers, could not bridge their differences on tariffs at the last day of a World Trade Organization (WTO) ministers meeting that ended mid-February.
The members were trying to meet a March 31 deadline to agree on a framework for talks on agriculture--one of the stickiest issues in the latest round of global trade negotiations, which began in Doha, Qatar, in 2001.
Basically, the United States and the 18-nation Cairns Group which includes Canada and Australia, favor an agricultural tariff cap at 25% in developed nations. But the European Union wanting to keepsome of its farm subsidies supports a 36% tariff cap.
Japan, which levies a 490% tariff on foreign rice to protect its staple crop, to fend off the United States and the Cairns Group agreed with Europe...as did India, where 650 million people are dependent for their livelihood on agriculture. Bottomline, the market access issue has a great deal of sensitivity...and WTO ministers were unable to come to any agreement.
Every barter company in the world is listed here click through to our global list of barter companies.
Ad Age Conference Message: No Free Lunch For TV Viewers
At the Advertising Age Madison+Vine Conference held at the Beverly Hills Hotel last week it was pointed out by Brodie Keast, Sr. VP of TiVo, that 50% to 70% of people watching TiVo recorded programming are skipping commercials. And the threat presented by this personal video recorder has marketers scratching their heads.
Some believe marketers should be able to figure out how to bring brands closer together. Others, however, insist anyone buying into the notion that branded entertainment will be the savior of the TV business is "drinking spiked Kool-Aid!" While product placement and product-integration in new shows rated discussion, it was clear that it's a new game today. Ultimately viewers will have to pay for TV if advertising drops as a result of commercial skipping.
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