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IRTA'S PRESIDENT EMERITUS, DAVID WALLACH PASSES AWAY

First Offset Club For Europe

History 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.

ECCO has 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

Mr. Christian Sylvain from AREVA was appointed as the chairman of ECCO. Other Board members include Ove Sindre Lied of Kongsberg; Guy Fr�mond 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 M�haignoul 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 offset skills.

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 negotiations.

The 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 foreign governments.

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 International Offset.

� 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.

There is also a list of individual members.

ECCO has 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.

For further information click here.

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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.

� A 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, 476.

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 division.

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.

The 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.

Is Your Trade Exchange Missing Out On Valuable New Business?

If 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.

Is your barter company�s listing up-to-date?

To 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:

To make changes to your listing click here.

For new listings click here.

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.

* Prepare yourself for victory � and defeat:

Be 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 a year.