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June 9,  2009

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer...06/09/2009

IMS Announces Online Bill-Pay & Statement Delivery For Members

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 Collective Cooperation

Craftsmen, artists, laborers and professionals, can exchange their services at

Travel Updates

         An online travel service ( 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.

         Virgin 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.

All back issues of �From the Desk...� can be accessed by clicking here.

(Please feel 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.

Mr. 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 technology.

�We 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 and ITEX.�

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:

         One-time platform subscription fee;

         Monthly transaction processing fee based on gross merchandise volume (GMV);

         Management by ITEX of the back end processing, e-statement mailing, web hosting and electronic collection of payments.

For 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 sustained action.

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 click here.

Unique Investments Medium�Lawsuits!

Two lawyers, Richard Fields, age 53, and Timothy Scrantom, 52, launched a new hedge fund type of business (Juridica Investments) in December, 2007.

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.

The 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.


25 Years Of BarterNews Issues Now In Digital Format

Welcome to the largest repository of barter contacts, strategies, and barter techniques in the world. All 64 issues of BarterNews now available in digital format at

         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 here.)

         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 here.) 

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America�s Most Unique Entrepreneurial Cities All Have Trade Exchanges

The 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 2008.

Here are the listings of the top ten cities:

#10 Washington (DC), EAR = 30%

#9 Houston (TX), EAR = 34%

#8 Dallas-Forth Worth (TX), EAR = 42%

#7 San Francisco (CA), EAR = 42%

#6 New York (NY), EAR = 45%

#5 Miami (FL), EAR = 50%

#4 Los Angeles (CA), EAR = 51%

#3 Riverside (CA), EAR = 52%

#2 Phoenix (AZ), EAR = 55%

#1 Atlanta (GA), EAR = 74%

Money-Making Reports Available From BarterNews

The following excerpt is reprinted with permission from a new book, The Prince, written by Mr. Billingsley. The book contains his ideas, thoughts, and recommendations on the present economic crisis.

Legal Costs & Impact Are 300% Too High

By Chester Billingsley

In 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.

The 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:

�The Prince� by Chet Billingsley can be purchased at

(Disclosure: Bob Meyer owns Mentor Capital stock.)


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