March 25, 2014
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
NATE Names Platinum Sponsors
For 30th Annual Convention
The top Platinum sponsors for
the 30th Annual National Association of Trade
Exchanges (NATE) Convention, to be held in Orlando May 15 -
18, are Trade First and Trade Studio. (Such sponsorships are
an important part of a successful convention, according to
IMS Continues Progress In
The nationwide International
Monetary Systems, a publicly traded company, has reported
quarterly earnings recently and has made additional stock
repurchases in addition to reporting higher earnings.
For more info,
ITEX Continues Virtual Barter
Focus With Coffee-Sleeves Purchase
Some 700,000 coffee sleeves
are in circulation in San Francisco, Seattle and Portland.
On the sleeve ITEX asks the question: Virtual currency or
barter — who wins?
Meanwhile, CEO Steve White is
attending the Coin Summit conference in San Francisco — a
two-day event connecting virtual-currency entrepreneurs,
angels, VC investors, and others.
IRS Will Tax Bitcoin As
The IRS says it will treat
and tax bitcoins as property, a decision that s part of
wider efforts to bring more oversight to the digital
currency. In its first major ruling related to virtual
currencies, the agency noted that bitcoin "does not have
legal tender status" and will be taxed under codes that
apply to property transactions.
That means wages paid to
workers in bitcoins will be subject to federal income and
payroll taxes. Those who 'mine' virtual currencies — or
create new bitcoins by solving complex math problems — will
have to report their earnings as taxable income.
Bitcoins can also be treated
as capital assets, regulated under the same rules that
govern stocks and bonds, the IRS said.
Consumer Confidence Highest
Since January 2008
Consumers are more optimistic
about the economy than they've been in years, and that could
help heat up the recovery after a deep winter chill. And
when people are feeling confident, they spend more in
supermarkets, restaurants and shopping malls and are more
willing to buy new cars and homes.
(Consumer spending accounts
for about 70% of all economic activity.)
Buffett Not A Fan Of Bitcoin
Warren Buffett, CEO of
Berkshire Hathaway and one of the world's most astute
investors, says, "I wouldn't be surprised if Bitcoin is not
around in 10 or 20 years." Buffett called the virtual
currency very speculative, a Buck Rodgers kind of thing —
like the Dutch tulip mania in 1637.
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Prominent Promotional Approaches
To reach your customers effectively, you should become familiar with
the distinct and various approaches of marketing, advertising, and
encompasses a range of tactics, such as handing out small gifts
bearing your logo, maintaining a presence at trade shows or on the
Internet, and providing superior customer service and product
on the other hand, is simply the process of buying time or space in
the print media or on the Internet, television, or radio. It lets
you say whatever you wish about your product or service.
differs from advertising in that you can't always control how or
when information about your company will be presented to the public.
But when your product is mentioned in the news media, it is usually
perceived as a third-party endorsement — provided the context of the
story is positive or at least neutral.
To determine the best form of promotion for your company, you need
to define your budget and goals.
Leadership Continues at ITEX
Watershed Events in Barter's Evolution:
An unnamed cave man bartered to make
getting stuff from his local friends easier by trading his
gatherings for theirs. While it is impossible to go back and
determine the true beginning, we'll just say that Barter 1.0 got off
to a rocky start; nonetheless, it has endured for centuries.
The modern barter industry was founded in 1960 as
Business Exchange (BXI)
in Los Angeles, California. Mac McConnell, the creator, had a dream
to craft a currency outside of the conventional banking channels.
The first transactions used 'stamps', modeled loosely around the 'S
& H green stamp' catalog. ITEX commenced operations in 1982 and
created the ITEX dollar to facilitate transactions. Over time ITEX
acquired a number of its competitors, including BXI in 2005. ITEX is
the largest trading community in the USA and Canada.
Ubarter.com launched the first barter site on the Internet in July
1998, taking the innovative step of consolidating products, services
and members into one main, online database. The Internet was
expensive and difficult to enter back then but unrelenting
entrepreneurial drive prevailed, as did ITEX when they acquired
Ubarter.com in June 2000.
Virtual currencies are hot and gaining acceptance, thanks to Satoshi
Nakamoto's release of the Bitcoin open source protocol software,
launching an innovative approach to virtual currencies. By early
2014 the total value for all virtual currencies in circulation has
risen to $10 Billion; 15 times more than the entire barter industry
of $600 million in circulation (which took 54 years to achieve).
ITEX seized upon this momentum in two ways:
Became the first barter company to accept Bitcoin as a payment
option in February, 2014; and
Announced launch of
Virtual Currency Systems
in March, 2014 to provide a Cloud based software platform to power
virtual currency models worldwide; and
ITEX leads with its continued innovation and leadership. Stay tuned
for Barter 5.0!
CEO, Steven White ? 2014
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Banker Suggests Expenditure Percentages Allocation
Robin C. Paterson, Sr. VP and chief credit officer of the American
Business Bank in Los Angeles, suggests the following percentages for
business expenditures of a company's revenues:
Sales — Marketing and hiring employees, so you can
develop your business: 60%.
Infrastructure — Customer service and communications,
so you can keep your business: 25%.
Product development — New products and services, so
you can maintain a competitive edge: 8%.
Technology — Enhancing what you already have, so you
aren't left behind: 5%.
Professional services — Legal and accounting, so you
can keep everything legal and under control: 2%.
Grand Total: 100%.
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your barter company's listing on BarterNews.com isn't current, you
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How To Get More Sales In
Our street-smart restaurant
marketing report shows proven ways to rapidly boost your
restaurant's sales & profits.
The Growth and Use of Secondary
Capital (New Money) Creates Unprecedented Wealth In Today's New Age
There are many forms of secondary
capital — which can be defined as any financial instrument that
measures and communicates value in a common language. Would you like
to see and learn more about the many forms of secondary capital?
We have 70 free, informative and
inspiring, articles for you in our "Secondary Capital Section."
Check it out...
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