June 9, 2009
by Bob Meyer, Editor of BarterNews
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the desk of Bob Meyer...06/09/2009
IMS Announces Online Bill-Pay & Statement Delivery For
International Monetary Systems (OTCBB:INLM) has launched an
electronic monthly statement-notification service with an
online bill-payment option. Additionally, the new service
gives members the opportunity to link to desired features
(of their membership) such as the online barter marketplace
and travel center.
Facebook Introduces “Credits” Currency To Increase Income
Facebook will be tapping a new revenue stream by introducing
a new payment system where visitors to their site may
purchase Facebook “credits.” Said “credits” can be used to
buy virtual goods from the third-party applications that run
on the site. Facebook will capture a percentage of every
transaction. (Developers working on Facebook’s platform are
expected to earn more than $500 million this year.)
Favorpals Offers Service For Securing Mutual Benefit Through
Craftsmen, artists, laborers and professionals, can exchange
their services at
online travel service (http://www.sidestep.com)
offers travelers the ability to check a location and gauge
the distance of a hotel from an address or a popular
attraction such as a beach, zoo, shopping mall or ballpark.
Airlines, the new upstart based in Burlingame (CA), has
become the first airline to offer in-flight Internet service
on every plane.
Southwest Airlines has begun letting small cats and dogs fly
with their owners, for $75 each way.
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. . .)
ITEX Trading Community
Expands Into Latin America
ITEX Corporation (OTCBB: ITEX), has entered into a web services
agreement with ITEX Latin America (ILA), a Panamanian corporation.
ILA is currently developing a trading community in Panama, with
future expansion planned in selected Central and South American
countries. John Castoro, a principal in ILA, is also a principal of
ITEX’s largest franchisee, based in New York and New Jersey.
Castoro noted that he’s “used ITEX’s technology successfully for
years and it was simply no contest when it came to making a choice
for our technology host and platform in Panama. The system is
practical, efficient and scaleable. I am very pleased to have
reached an agreement with ITEX to use their proven web-based
anticipate bringing many valuable trading opportunities to ITEX and
to its 24,000 members in the United States and Canada in the
hospitality field and other sectors of Latin America's economy.
Expansion to Panama, with its stable democracy, good economic growth
and a dollar-based currency provides an exciting opportunity for ILA
Steven White, ITEX Chairman and CEO, observed, “Our enhanced
technology platform strategy, offering web-based services to other
businesses, has allowed us to expand our cashless transaction
processing opportunities beyond the ITEX Marketplace.
“With two web service agreements executed, we have demonstrated that
our dynamic web-based platform is marketable, capable of providing
new revenue streams for our company, and also provides added trading
opportunities for our members. We are pleased to see a return on the
technology investments we have made over the past several years.”
Pursuant to the web services agreements, ITEX hosts the web
interface, client relationship management (CRM) platform, and is
responsible for all transactional processing on the site. The first
web services agreement was executed in February 2009 with Idearc
Media LLC, a subsidiary of Idearc Inc. ITEX launched Idearc’s online
marketplace SuperTradeExchange, in March 2009.
Deal points for each of the Web services agreements include:
platform subscription fee;
transaction processing fee based on gross merchandise volume (GMV);
by ITEX of the back end processing, e-statement mailing, web hosting
and electronic collection of payments.
more information on ITEX go to
Attention Trade Exchange Owners. . .It’s GROW OR GO!
The magic bullet for growth is sales, always has been and always
will be...yet the industry’s overall growth is anemic. Why? Maybe
it’s because we’re not providing on-going education about our unique
way of doing business. Knowledge is always a pre-requisite to taking
And for those newcomers, the lifeblood of an exchange, awareness of
and understanding about the value of trading is even more important.
If you expect prospects to come aboard and your members to be more
active traders, but you are perplexed when the results are less than
you desire...there’s a good reason. You must continually educate
and motivate every month--month after month after month!
Such action is necessary because, let’s face it, more cash business,
not trade, is of paramount importance to your members. You must
break through this “cash only” focus and redirect their thinking
toward barter. Although most exchanges don’t see the importance of
doing so, many industry leaders are taking action and so can you.
As the owner of your own operation, there is an easy and
inexpensive solution for moving forward...look
into using The Competitive Edge newsletter. It’s a
camera-ready, 4-page, professionally written, informational
marketing tool...available in PDF format as well as print. So
regardless of how you reach your prospects and clients, you will
have the necessary vehicle.
Written especially for you, the busy trade exchange owner, I am
certain it will be the best investment you ever make.
For more information about The Competitive Edge, and how it
can benefit you
lawyers, Richard Fields, age 53, and Timothy Scrantom, 52, launched
a new hedge fund type of business (Juridica Investments) in
Juridica exchanges money with Fortune 500-size companies or their
lawyers in the early stages of corporate lawsuits, for a share of
the payoff if the plaintiffs win or settle. With $200 million under
management, Juridica has invested in 17 suits so far and they are
two for two in decisions.
Based in New York City, they raised money by selling shares on the
London Stock Exchange’s small-companies market. Shares are up about
20% since the launch.
fund paid a $5 million dividend to investors in April after a big
suit was settled. Because Juridica signs nondisclosure agreements,
names are not available.
International visitors look for BARTER CONTACTS in our Global Barter
Section. If YOUR exchange isn’t listed see the forms on the lower
left of the page. (Click
Attention trade exchange owners...thousands of visitors every month
visit our BARTER CONTACTS section on our web site where we have
names & addresses of barter companies in the USA. If YOUR exchange
isn’t listed, or the information is incorrect, you can correct the
situation by using the forms to the lower left of the USA map. (Click
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America’s Most Unique
Entrepreneurial Cities All Have Trade Exchanges
Kauffman Foundation recently rated America’s most unique
entrepreneurial cities, using Kauffman’s index of entrepreneurial
activity. For example, the 10th rated city had an EAR
(entrepreneurial activity rating) of 30%. This number indicates that
out of a population of 100,000, 300 businesses were launched in
Here are the listings of the top ten cities:
#10 Washington (DC), EAR
#9 Houston (TX), EAR =
#8 Dallas-Forth Worth
(TX), EAR = 42%
#7 San Francisco (CA),
EAR = 42%
#6 New York (NY), EAR =
#5 Miami (FL), EAR = 50%
#4 Los Angeles (CA), EAR
#3 Riverside (CA), EAR =
#2 Phoenix (AZ), EAR =
#1 Atlanta (GA), EAR =
Money-Making Reports Available From BarterNews
The following excerpt
is reprinted with permission from a new book,
written by Mr. Billingsley. The book contains his ideas, thoughts,
and recommendations on the present economic crisis.
Legal Costs & Impact Are
300% Too High
much of the developed world that we compare ourselves to, legal
costs are approximately 1% GDP. In the United States they are around
3%. The extra 2% has not improved our justice or equity as compared
to Japan or England. Much of the extra drives lawsuits that transfer
wealth from productive businesses to non-producing litigants, with a
healthy slice for the bar.
Solutions include (i) having the loser pay the winner’s legal costs
to the extent of the loser’s costs, (ii) eliminating contingent fee
award sharing, (iii) allocating proportional liability rather than
fishing for deep pockets, (iv) valuing a life at $5 million, with
injuries proportionally down from that, (v) awarding punitive
damages to the state, and (vi) paying lawyers when, as and if
clients are paid. Granting them in coupons, if that is what is
awarded, and not paying on the potential pool, rather on the smaller
splash that actually collect.
negative impact to society is larger than the extra 2% because
litigation is often used to delay productive development or
programs, and so many decisions are driven by fear of lawsuit. We
estimate that the extension of generation to generation economic
doubling of prosperity is pushed out by one year because of the drag
from excessive litigation and its consequences.
Society would benefit if legal actions were conducted much like
arbitration. This preferred method of alternative resolution should
be an embarrassment to the judiciary, and to the legislative branch
to the extent that they are the lawyer legislators that created the
laws that confer rights that have brought us to this point.
After other things are well accomplished, and in the President’s
spare time, we would all appreciate him eliminating the incentives
that help make us such a litigious society.
Chet Billingsley did his undergraduate work at West Point. He
attended Harvard where he received a Master’s Degree in Applied
Physics with concurrent study at Harvard Business School and MIT’s
Nuclear Engineering Department. He spent the major portion of his
early career at General Electric in the energy and high tech sector
in project turn-around and international management positions.
Currently, Billingsley is the CEO of Mentor Capital (Symbol:MNTR).
For more information on Mentor Capital see: http://www.MentorCapital.com.
“The Prince” by Chet Billingsley can be purchased at
(Disclosure: Bob Meyer
owns Mentor Capital stock.)
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