June 19, 2012
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
Convention Coming Up In August
The National Association of Trade Exchanges (NATE)
convention is just two months away. This year’s venue will
be at the beautiful Atlanta Marriott Gwinnett Place, August
16-18. Special pricing is available for early registration,
plus big discounts for brokers who attend.
For more information on this year’s convention plus
here or email
Worker-Training Programs Gaining Adherents
They’re big in Germany (nearly 2/3 of the country’s workers
are trained through partnerships among companies, technical
schools and trade guilds), and these worker training
programs are expanding in the U.S. as manufacturers grapple
with a paradox — though unemployment remains stuck at 8%,
companies can’t find enough machinists, robotics specialists
and other highly skilled workers to maintain their factory
floors. Thus, an estimated 600,000 skilled, middle-class
manufacturing jobs remain unfilled nationwide.
To Embrace People With Ideas
Both of our political parties claim to love entrepreneurs,
yet America’s immigration system is strangely unwelcoming to
foreign entrepreneurs, even as other nations are rolling out
the red carpet. (Australia, for instance, grants 13 times as
many permanent visas on the basis of skills as the U.S.
All countries, however, need entrepreneurs to create new
businesses, new products and new jobs. And migrants are
usually likely to have the necessary get-up-and go. Fact:
40% of Fortune 500 companies were founded by immigrants or
American Real Estate Attractive To Foreigners
A property-buying binge by Asians, Canadians, Europeans and
Latin Americans, is taking place nationwide. International
buyers accounted for $82.5 billion, or 8.9%, of the $928
billion spent on residential U.S. real estate over the last
12 months, according to the National Association of
Realtors. (That was up 24% from the previous 12 month
Nearly 55% of all international buyers come from five
countries: Canada, China, Mexico, India and the U.K., and
62% of them paid all cash for their purchases. The most
popular locations for acquisitions were Florida, California,
Texas, Arizona and New York.
Go More Than Ever
Americans are eating more on the go than anywhere else in
the world, and the trend is growing. Drive-through orders at
fast food restaurants now make up over 70% of all sales. And
17% of all meals ordered at restaurants in the U.S. are now
eaten in cars, according to the NPD Group, a consumer
New U.S. Listing
One San Jose Pl, #17
Jacksonville, FL 32257
Ph: (904) 404-4945
Fax: (904) 404-4946
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See you next week. . .)
ITEX Earnings Reported
membership trading-community of ITEX Corporation (OTCBB:ITEX) has
announced results for its fiscal 2012 third quarter which ended
April 30, 2012.
am pleased to report that transaction fees increased 9% and 5%,
respectively, for the three and nine month periods ended April 30,
2012, as compared to the same periods last year. In addition, we
managed our costs efficiently by reducing selling, general and
administrative expenses by $167,000 and $381,000 or 28% and 19%,
respectively, for those same periods as compared to the
corresponding periods last year,” shared Steven White, chairman and
White concluded, “In April we completed a tender offer of our common
stock, purchasing and retiring 1,072,808 shares, which provided a
liquidity event and return of capital to stockholders.”
Third quarter 2012 highlights included:
$3.787 million compared to $3.960 million in the same period last
from operations of $324,000 compared to $388,000 in the same period
plus general and administrative expenses decreased to $435,000 from
Repurchased 1,072,808 shares for $4,505,793.
$0.04 per share cash dividend in March.
recently, on June 1 the Board of Directors of ITEX Corporation
declared a quarterly cash dividend of $0.04 per share, payable on
June 20 to stockholders of record, as of the close of business on
June 11, 2012.
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ECCO Symposium Focuses
On UAE, Brazil & SMEs
Clear links between the offset policy, the economy and the industry
in the United Arab Emirates (UAE) were detailed and analyzed at the
European Club for Countertrade and Offsets’ (ECCO) fourth symposium
held at Eurosatory in Paris in June 2012.
UAE policy focuses on the defense industry and manufacturing, aiming
to ensure that the UAE advances from a defense buyer to a defense
supplier. Debates concentrated on the fact that the concept of
countertrade is globally now more important than ever to develop
trade opportunities for countries outside their current markets;
with defense contractors acting as important facilitators.
UAE forum was followed by an array of presentations by Brazilian
industry, the Ministry of Defense, the Brazilian Air Force and the
Brazilian Defense and Security Industries Association, ABIMDE. The
forum of Brazil included a view on the impact of anti-corruption
laws on Brazilian companies.
Brazil aims to promote the balance of productive forces between
competitive companies. The national strategy of defense ensures new,
high-profile programs, which have to align with the MoD-issued
guidelines for industrial participation. Obligors have to assist in
fulfilling the interests of the air force, army and navy, each
imposing offset obligations best suited to their own respective
focus of offset in Brazil is on economic development, and technology
and business cases have to be sustainable. It was mentioned that
offset is not a strategy, but a tool to reach the defense
Offset implies that defense prime-contractors reorganize their
supply chains, thus offset can directly influence the business
activities of defense sub-contractors. Day two of the symposium
comprised a workshop on offset and small-and-medium enterprises (SMEs),
bringing offset mechanisms and their potential impacts on SMEs into
the spotlight. Various OEMs teamed up with their foreign
sub-contractors to share their experiences.
process of negotiating and implementing industrial cooperation
benefits that direct offsets ensure to countries purchasing defense
operational activities and quality standards
logistics and delivery dates
transfer of skills, technology and know-how
long-term international teams
stories and best practices
Experiences were shared by Rheinmetall (Germany) and Cargotec
(Canada), Kongsberg (Norway) and Oricopa (Finland), RUAG Defense
(Switzerland) and VDL Technologies (Netherlands), and Areva (France)
with Pilatus (Switzerland) and Foskor (South Africa).
Cilas (France) shared their experiences in Spain, Atermes and Thales
Communication (both from France) offered their views on offset in
Malaysia, while Oktal SE focused on an indirect offset experience
between major and small companies.
roundtable discussion at the end of the day ensured interesting and
sometimes heated debates, including some postulations and future
total of 300 delegates from 30 countries registered for the ECCO
symposium. Symposium No. 5 will be held in Frankfurt on 14 and 15
November, 2012, focusing on industrial participation and local
content requirements in China for military and civil contracts, as
well as consulting and finance in the offset regime.
more information or inquiries
is an European association for companies, individuals and
institutions involved in offset and countertrade. The association
organizes symposiums where members and guests can unravel matters
related to trade, international law and government procurement.
Offset research and training are also aims of ECCO.
Sharing Economy A
What do a luxury-home network, a car-sharing company, and an
online-deals giant have in common? They’re all part of the present
recession’s booming “sharing economy,” and they’ve all been
bankrolled by Steve Case, the founder of America Online (AOL).
Over the past eight years, Case has invested in companies like
Exclusive Resorts, a network of shared vacation homes, and Zip Car,
the car-sharing club for urban drivers. By promoting access and
convenience over ownership, these businesses are a perfect fit for
the recession lifestyle of consumers who want to pay less but do
new sharing model has certainly accomplished more economic activity
with less waste. Cars are used all day instead of sitting idle, and
merchants can shift unused inventory through online special offers.
But whether this efficiency is actually a good thing for the U.S.
economy is another question.
happens when millions of people spend 10% less on new things and 10%
more sharing old things or getting sophisticated deals? Time will
tell. But at this point, one can argue that the efficiency of a
post-ownership society may or may not translate into economic
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