March 2, 2004
Written by Bob Meyer, Editor of BarterNews
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Technology Exchanged For New Market Sales
Short Term Sales Made In Exchange For Long-Term Competition?
Behind the scenes around the world, multinational corporations are involved in very sophisticated business dealings...and they often contain an "exchange component" of some sort.
One such transaction, where General Electric signed a $900 million contract for high-tech electricity-generation turbines, reinforces how the world is changing. GE had to agree to exchange sophisticated technology with two state-owned Chinese power companies that want to eventually make the equipment themselves.
Interestingly, while China and other nations have enormous leverage (providing access to their huge markets), the question remains if the transfer of expertise from multinational corporations to state-owned companies will work out as envisioned.
There are two major reasons: Chinese companies presently lack the depth of engineering expertise, necessary to fully exploit the technology, that would enable competitiveness in global markets. But more importantly technology is rapidly advancing, so any technical know-how obtained today will, in years to come, be less of an issue.
Still one must tip a hat to the Chinese for desiring to better themselves. Wanting to compete in power generation, telecommunications, health care, and other advanced sectors is an ambitious step-up from today's manufacturing of toys, textiles and TV sets.
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NATE & IRTA Announce Annual Convention Dates
September 2004 will be a very busy month for the commercial barter industry, as both industry trade associations have scheduled their national conventions that month. As plans develop we will keep you apprised of them.
NATE (National Association of Trade Exchanges) will hold their convention in Las Vegas September 9, 10 & 11.
IRTA (International Reciprocal Trade Association) will be meeting in Cancun on September 30, October 1 & 2.
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Monster And EBay Bartering Efforts Considered A First
According to Jeff Taylor, founder and CEO of Monster Worldwide, the recent alliance between his company and eBay marks the first such relationship between two of the leading Internet companies.
Monster is the leading online career site, it records 41 million visits per month. EBay is visited by 69 million visitors each month. The two companies are cooperatively working together, exchanging services and visibility to expand their reach.
The agreement will see Monster's career services getting prominent exposure on eBay's home page. While Monster will serve as the title sponsor of eBay Live!—an annual conference where buyers and sellers meet from around the world. This year the meeting is scheduled in June at New Orleans.
Monster will also provide sessions on career planning and hiring for small businesses at eBay Live! and eBay University. EBay U is a roving educational program that travels across the country, teaching people the ins and outs of buying and selling on eBay.
Editor's Note: EBay currently sells $6 billion in cars and car parts, and almost $4 billion in computers and electronics. It also houses storefronts for IBM, Sears, and Sun Microsystems. The arrangement with Monster is indicative of the efforts eBay must pursue to sustain growing at 74% a year, and thus maintain its second place position of the top 10 fastest growing companies in the United States.
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Private Currencies Continue To Expand
* Cendant Corp. is
converging the individual loyalty programs of all its hotel brands under
one umbrella called TripRewards. Under the new program members will have
more than 140 ways to redeem points for free flights,
Travelers who were members of Cendant hotel brands including Days Inn, Ramada, Travelodge, and Howard Johnson are automatically rolled over to the new loyalty plan which offers increased redeeming opportunities. Before, members of one of the individual hotel loyalty programs mostly had only hotel-related redemption opportunities.
TripRewards will also offer a variety of non-travel treats like gift certificates to Burger King and Starbucks, KB Toys and Best Buy, or a $25 gift certificate in exchange for 5,500 points.
* Amtrak is taking a cue from the airlines and rolling out a new loyalty program. It will reward frequent riders with free travel certificates, which can be used or transferred to friends, family, or anyone else.
* New programs that
reward doctors are starting to catch on in health care...and now patients
are getting cut in on the deal, too. A group of major corporations (GE,
Ford, UPS, P&G) are launching a pilot program to pay doctors in several
cities bonuses of up to 10% in "CareRewards" points if they
can prove better care for cardiovascular and diabetes patients.
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