May 10, 2011
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
NATE Convention Coming June 2-5
exchange owners and others involved in the commercial barter
industry will be gathering the weekend of June 2-5 for the
National Association of Trade Exchange’s convention at the
Phoenix Marriott Mesa Hotel.
register for the annual convention contact
Lombardi To Emcee At Connecticut Hall Of Fame
Lombardi, President of Barter Business Limited, will be one
of the guest emcees at the Connecticut Business Hall of Fame
ceremony on May 20 in Hartford.
Good Sound Advice …
can give your son or daughter only one gift, let it be
—Bruce Barton, American author, advertising executive
jealousy is to see it for what it is, dissatisfaction with
—Joan Didion, American journalist and novelist
change. Growth is optional. Choose wisely.”
—Karen Kaiser Clark, American motivational speaker and
back issues of "From the Desk...” can be accessed by
free to forward our newsletter to your friends and
colleagues. We have a “box” at the end of the
newsletter for your convenience.
See you next week. . .)
PRESIDENT EMERITUS, DAVID WALLACH PASSES AWAY
It is with profound sadness that
we report that our beloved leader, David Wallach passed away
peacefully on Friday, May 6th, 2011.
David worked tirelessly to build and improve the modern trade and
His record of accomplishments in the barter industry is
David was a special friend and an amazing person, and he will be
The IRTA family extends its heartfelt sympathy to Dave's family and
thanks Dave for his lifetime of service to IRTA and our industry.
First Offset Club For
was made in Paris when the European Club for Countertrade and Offset
(ECCO) had its initial Board meeting. The first European association
for countertrade and offset kicked off its activities with 51
companies and individuals already registered as members.
ECCO is an
association incorporated under French law and was established in
July 2010 with the aim to bring together parties involved in offset,
industrial participation, or countertrade — including defense and
civil contracts. During the past 18 months various players and
experts in the European defense arena worked together to establish
the necessary legal and administrative structure for the Club to
start its operations.
three main activities linked to offset and associated issues:
Establishing a common platform for parties involved in offset, thus
creating a forum where relevant issues can be discussed
Offering relevant training to its members to increase the awareness
of the challenges encountered in the profession
Sharing information on offset, countertrade and international trade
from AREVA was appointed as the
chairman of ECCO. Other Board members include Ove Sindre Lied of
Kongsberg; Guy Frémond of MBDA; Colin Heritage of Stemcor Trade
Finance Limited; Lee Furter of RUAG; Alain Fernandez of Thales
International Offset; Jacques Chahal-Purewal of Epicos; Sonia
Méhaignoul of FN Herstal; Bertrand Loubert and Jean-Marie Aoust.
ECCO aims to create a discussion forum where the conditions and
prerequisites of offset can be debated, to stimulate relevant
discussion through the scheduling of regular meetings, and to
distribute reliable information to its members.
Other aims include training member companies on offset-related
issues, focusing on international trade and, in general, taking all
necessary and appropriate action to encourage the development of
ECCO will only interact with government authorities and/or entities
to the extent necessary to exchange information regarding current
offset policies. It shall not take any action that could directly or
indirectly encourage offset, or countertrade demands from government
authorities and/or entities, nor will it represent any individual,
or group of members with respect to any business transaction, or in
current membership represents 15 countries with members being
operational in the following industries: defense and security,
transport (including aeronautics) and energy.
ECCO members include:
Offset Obligors, for example, legal entities whose main activities
make them directly subject to offset obligations as required by
Members in this category are as follows: AREVA, Dassault Aviation,
DCNS, ELTA Sys Ltd, Eurocopter, FN Herstal, Jeumont Electric,
Kongsberg, MBDA Frabce, Nammo, Pilatus Aircraft Ltd, Rheinmetall,
RUAG, SAAB, Safran Snecma, Safran-SSI, STX Finland, and Thales
Offset Service Providers, for example, natural persons or legal
entities whose main activities consist of proposing and implementing
offset projects on behalf of its clients and/or delivering services
to companies or obligors.
Members in this category are as follows:
ACL Wagner Gmbh, Alten SA, Apere, Baker & McKenzie, Blenheim, Citius
International, Epicos, Essec Business School, Eurotradia
International, Grefinter, IPA Network, Oneide Associes, PERA, Schoen
Aerospace, Stemcor Trade Finance, Tricolom, and Vitruve.
also a list of individual members.
scheduled information and discussion forums during the year,
focusing on offset in various regions. The next ordinary general
meeting of ECCO is on 14 and 15 June.
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IMS Quarterly Report
During the three months ended 2011 March 31, International Monetary
Systems (IMS) offset a slowing of revenue with the benefits of the
substantial reductions in overhead that the company had worked so
hard to achieve over the past year.
Some highlights are:
The company completed the purchase of a Canadian trade exchange in
Peterborough, Ontario, adding approximately 450 members. It is
expected that the added office will be immediately accretive.
Selling, general and administrative costs were reduced by $292,588,
or 25.3%. This decrease includes the $57,001 of unusual legal costs
as well as lower occupancy costs and other professional fees
incurred in 2010, which did not recur in 2011.
At its 2011 February 10 meeting, the board of directors approved the
repurchase of an additional 4% of the company’s outstanding shares.
During the quarter, 57,467 shares of the company’s stock were
repurchased and placed in treasury.
number of markets, including New York City, Wichita (KS) and
Columbus (OH), have shown double-digit percentage growth in cash fee
revenue so far in 2011.
Since December 31, 2010, total liabilities were reduced by $440,
During the quarter ended March 31, International Monetary Systems
generated gross revenues of $2,978,842, a decrease of $240,890 or
7.5%, compared to the first quarter of 2010. Only $10,000 of this
decrease is in cash revenue. The remaining $230,000 decrease is in
trade dollar revenue, with $100,000 of that amount due to a large
non-recurring 2010 transaction in our media/corporate barter
Operating expenses in the quarter were $3,201,178, a decrease of
$277,758 or 7.9% compared to the first quarter of 2010. This
decrease is primarily due to decreased occupancy, professional fees,
and investor relations’ costs.
net operating loss was $222,336 for the quarter, compared to a net
operating loss of $259,204 in the first quarter of 2010.
After adjusting for interest and income taxes, there was a net loss
for the current period of $184,555 compared to a net loss of
$320,762 in the first quarter of 2010.
more information on IMS Barter
Is Your Trade Exchange Missing Out On
Valuable New Business?
your barter company’s listing on BarterNews.com isn’t current, you
are definitely missing out on new business. The web site
BarterNews.com receives heavy traffic — with over 150,000 page-views
every month. Entrepreneurs and corporate executives check the
thousands of articles, the weekly “Tuesday
Report,” and the “Contacts
Section” of our site. They use the latter to find barter
companies with which to do business.
your barter company’s listing up-to-date?
keep your listing current is very easy. See the links below to (A)
update any changes to your company’s listing, such as new location,
phone number, web site or other information, and (B) if your company
has not been listed.
Here’s how to get on board:
make changes to your listing
Preparing For Potential
Opposition To Your Business Proposal
Making an important proposal is difficult enough, but you also need
to anticipate roadblocks and plan accordingly.
Anticipate the opposition:
Analyze any weakness in regard to profitability, expense control, or
feasibility. Also consider who your idea might threaten in terms of
power, resources, options, or prestige.
* Confront issues, not
Take an objective approach to anticipated criticism — even those
likely to be motivated by turf disputes or rivalry.
* Get help and
Once you have drafted your proposal, run it by your manager,
mentors, coaches, and trusted colleagues. Take criticism for what it
is — an ideal advance warning.
Identify your strong and weak points:
Focus your case on the arguments that are likely to prevail. Make
your best case, but know what points you can concede without
seriously weakening the whole.
Prepare yourself for
victory — and defeat:
ready to explain follow-up steps if your proposal is accepted. And
if defeated, take clear notes on why it failed and begin preparing
for the next round.
New-home Sales Slowest In Nearly 50 Years
Americans are on track to buy fewer new homes than in any year since
the government began keeping data almost a half-century ago. Sales
are now about half the pace of 1963 when 560,000 were sold, even
though there are 120 million more people in the U.S. now.
Last year 323,000 new homes were sold — the worst year on record and
the fifth straight year of declines. A healthy pace for today’s
population of 310 million, according to economists, is about 700,000
Money-Making Reports Available From BarterNews
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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...
Get New Money-Making Ideas And
obtain useful, informative ideas and contacts in every available
back-issue of BarterNews.
barter company in the world is listed on our web site,
click through to our Global List
of Barter Companies.
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