The weekly newsletter for everyone interested in barter--the world's most versatile business tool!
March 20, 2001
CEO Extols Barter As Life Saver In "Spend and Burn" Dot.Com Environment
Mair Faibish, Chairman and CEO of Synergy Brands, recently sent an open letter to all shareholders. His comments included, "While the shut downs of so many 'spend and burn' dot.com competitors have unfortunately cast a dark shadow over all remaining dot.com companies, the business effect on companies like ours is extremely positive. From a financial standpoint we are stronger than ever."
He also told his shareholders that because they "have been using barter to secure advertisement and promotional opportunities," the company's future looks exciting.
While other dot.coms spent millions on mass media, Synergy Brands was bartering, and in a somewhat different manner. "If not for barter, we would have had to pay cash to buy the products from the manufacturers."
However, Faibish worked with a major media barter company and exchanged advertising for grocery products that he then cashed out through his DealByNet.com site to independent grocers. Needless to say, he's happy with the results, "It's been a fantastic way for us to reduce our product acquisition costs."
All three of Synergy Brand's e-commerce web sites have reportedly used barter as the instrumental factor in helping diversify their marketing approach, giving them a combined annual revenue of roughly $22 million.
The Sinclair Broadcasting Group, which owns or operates 62 television stations in 40 markets is the largest shareholder of Synergy Brands. Premier Radio also played a role in the company's success by providing $1 million in radio advertising in exchange for stock.
Jim Rossner To Direct BarterNet Operations
Jim Rossner, who joined BarterNet, www.barternet.com, in March 2000 to serve as their chief marketing officer, has been promoted to chief operating officer.
In his role as COO, Rossner plans to continue his oversight of BarterNet's marketing function, as well as the company's business development, technology, and other company operations.
"We're looking to change the face of business trading, shaping it into a practical business tool that every company can use to improve their profitability," he stated.
Rossner has over 20 years of marketing, sales, and consulting experience. As vice president of marketing he repositioned Angara E-Commerce Services from a software company to an application services provider in the business-to-consumer marketplace.
He also helped iSearch, a business-to-business e-commerce services company, target its Fortune 2000 customer base with an integrated marketing campaign.
Rossner launched a fully integrated internet e-commerce web site and
affiliate program to strengthen the company's marketing position.
Australia's BBX Aids Private School
With an annual trade volume of $100 million, BBX is one of Australia's top trade exchanges. Recently the company provided aid to a private schoolRedfield College For Boyswith a $300,000 interest free construction loan. Along with additional bank financing it will fund a new student housing effort for the school. The school will repay the $300,000 loan with donations, as they come in.
BBX Ltd. was Australia's first trade exchange to specialize in the building and construction industry. Now they have opened a new division of the companyBBX Buildingwhich focuses on providing assistance for builders, developers, and trade contractors.
Here And There. . .
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