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From the desk of Bob Meyer... 06/29/2010
Number-One Obstacle To Retirement
In a recent study commissioned by Scottrade, for 63% of
Americans, debt was an impediment to retirement savings in
2009. And 61% of Americans expect debt to limit retirement
savings in 2010. Strategies to climb out of debt include:
Save first, especially if a company match for 401(K)
contributions is offered;
Scale down your budget;
Plan for the unexpected — set up an emergency fund;
Plan for the expected — a yearly vacation, wedding, etc.
NATE Sets Up Facebook Page
Gary Oshry, The National Association of Trade Exchanges
President, announced that his organization now has a
Facebook page for NATE and BANC members. Go to:
Billionaire Softbank Founder Looks Ahead
Japan’s Softbank CEO/founder Masayoshi Son, 52, with an
estimated net worth north of $5 billion and one of Japan’s
most famous entrepreneur’s who built the company into Asia’s
biggest Internet group, recently spoke to thousands of
shareholders and fans. He laid out his plans and bold
targets for the next 30 years which includes a goal of being
one of the world’s 10-biggest companies by market
capitalization by 2040. It’s a goal he estimates would
require it to be valued at $2.24 trillion (currently they’re
valued at $30 billion).
To reach that goal Softbank plans to take stakes of between
20% and 40% in some 5,000 affiliated companies by 2040, up
from about 800 such partnerships now. Laying out a broad
management philosophy, Son said Softbank isn’t wedded to any
single technology or single business model. He sees
everything from eye glasses to sneakers being connected to
the web ... glasses, he suggested, could accurately
translate foreign languages in real time and then display
what a person speaking a different language was saying with
subtitles on the lenses.
Amanda Smith Joins ITEX Brokers Board
Long-time California ITEX broker Amanda Smith, (she operates
in the Palm Springs and Temecula areas), has been named to
the ITEX Brokers Association Board of Directors.
back issues of "From the Desk...” can be accessed by
free to forward our newsletter to your friends and
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newsletter for your convenience.
See you next week. . .)
Paul Suplizio reports on progress in carrying out decisions of the
Paris Conference of IRTA/Europe and the Eurasian Assembly.
First, we are making good progress to incorporate IRTA/Europe as a
legal non-governmental organization within the European Union.
Following the recommendation of the Paris Conference, the Global
Board of Directors of IRTA approved this action, and as soon as
incorporation is complete we will proceed immediately to the next
step, which is to apply for an EU grant to provide financial and
technical support for integration and expansion of Europe’s barter
networks as a business innovation initiative.
intend to engage the grant-application process as soon as possible
to get IRTA/Europe off to a good start by an infusion of capital and
technical assistance to help existing trade companies expand, help
new start-ups grow, and help link our networks through the new UC
euro trading platform that is now operational. We also hope by this
means to encourage all barter companies in Europe and Asia to come
into IRTA and stand alongside your colleagues to build a great trade
network spanning two continents and rivaling that of our forbears of
Barter companies in Europe who have been standing on the sidelines,
and thus far have not joined our concerted actions to advance our
common industry, now have one more good reason to join IRTA/Europe
and help bring the vision of a pan-European trade network to
fruition. Standing aside will retard an advance your company can
greatly benefit from, for the Pan-European Trade Network will be
owned by members of IRTA/Europe and you will have a deciding voice,
as a member of the Governing Board, in how its benefits will be
shared. Make no mistake about it, this grant money will be for you,
and you will decide how it will be allocated.
am sorry to report that Alina Piddubna, Managing Director of Bartex
in Kiev, Ukraine has taken on higher responsibilities and will be
unable to continue guiding the EU incorporation project. Alina
deserves our thanks for her efforts in pushing this project so far,
and I am happy to report that Dariusz Brzozowiec of Barter Systems
Poland has volunteered to replace Alina in directing this project.
Dariusz will work with Dori Szabo, President of GlobalXchange in
Budapest, who has already laid the groundwork to advance the project
and the grant application as soon as articles of incorporation are
Second, responding to Europe’s desire for a euro trading platform
for inter-company trades, IRTA Executive Director and UC Director
Ron Whitney reports that the UC euro platform is now open for
business. Trades may now be completed in UC euros and balances held
in UC euros. The Universal Currency system, owned by IRTA members,
the world’s foremost trading platform for trades among barter
companies with different currencies and is readily accessible on the
internet. Thus, the infrastructure for a pan-European trade network
is now in place, and we must thank Ron for giving this project a
high priority upon his return from Paris.
Third, the IRTA Global Board of Directors has approved a letter to
Commissioner Michel Barnier, Directorate General of Internal Market
and Services, European Commission, requesting that trade
clearinghouses be exempt from regulations dealing with financial
clearinghouses, and cautioning that some parts of regulations
dealing with financial clearinghouses may be construed as applying
to trade clearinghouses. This letter was previously approved by IRTA/Europe
and Assembly members at the Paris Conference on May 2. It will be
signed jointly by the President of IRTA and the Chairman of IRTA/Europe.
Fourth, we are seeking proposals for a location for the next meeting
of IRTA/Europe and the Assembly of Barter Companies of Europe and
Asia, tentatively scheduled for April 16-17 or April 30-May 1, 2011.
We have already a proposal from Dori Szabo to hold the meeting in
Budapest, Milan and Florence are interested, and if anyone else
wishes to make a proposal, we shall be glad to hear from you.
Remember that, as a member of the Governing Board of IRTA/Europe (or
of the Assembly for non-IRTA members), you may bring up any matter
at any time and ask that it be brought before the whole body for
discussion and possible adoption. All of us think about our
industry, its place in the worldwide scheme of things, and how we
can improve our profession. When you have an idea to share, or a
proposal to make, remember you may place it before the group at any
time simply by contacting me, your Secretary. Should you wish my
advice, I am always happy to respond.
Finally, recall that each of you, as an IRTA/Europe member, has a
seat and vote on the Governing Board and that all decisions are made
by the Governing Board alone. The only officer positions of IRTA/Europe
at present are the Chairman of the Governing Board and the Treasurer
— the latter position having been filled in Paris.
After all nominations are received for Chairperson, I shall write
you again to inform you of the persons nominated. At that time I
will ask you to vote by e-mail for one person from the list of
nominees. The person receiving the most votes will be deemed
elected, provided no objection is made to this manner of election.
PAUL E. SUPLIZIO
Member, Global Board of Directors (for Europe)
International Reciprocal Trade Association
Secretary to the Assembly
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
Universal-Currency Trading Record Established
new monthly trading record has been established for the
International Reciprocal Trade Association’s 13-year-old Universal
Currency (UC) — a trading unit which is used among trade exchanges
May trading figures for IRTA’s UC totaled $757,542, besting the
prior top month of $674,282 by $83,260. The high amount of trading
by UC member barter companies was fueled by a $102,600 media
purchase by Rachel Taylor of Alamo Barter from Jay Greenlees and
Marc Hatch of Barter Media Solutions.
Trade exchange owners wishing more details on the robust UC trading
platform may call UC’s International Broker Casey Kloempken at (757)
337-6846 or IRTA’s Executive Director Ron Whitney at (757) 393-2292.