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Former Barter Baron Now A Spa Mogul

Moreton Binn, former Chairman and CEO of Atwood Richards, is now CEO of Xpres Spa, a leading retailer of spa services. With 38 locations in the biggest airports in the U.S. and the Netherlands, they offer travel related products as well as the usual spa services.

After earning a finance degree from New York University in 1958, Binn worked in advertising and ran a promotional services agency before purchasing Atwood Richards (a New York based corporate barter company) in 1974, thus becoming its CEO at age 38.

Barter was taking on a greater prominence in those days, when the U.S. broadcasting industry found a new use for it. Radio and TV stations needed a lot of new expensive equipment, but didn�t have the cash to buy it. So Atwood would provide whatever was needed in return for airtime, of which the stations had plenty. Atwood would then sell the acquired media time to its clients� with companies looking for exposure to plug their products.

By relieving corporate clients of huge quantities of unsold goods, ranging from Lotus cars to hockey pucks to bat manure, and giving them goods/services in return, Binn became known as the Baron of Barter.

He lived with his wife Penny, a clinical psychologist, for 37 years in a 12-room Colonial home on Long Island near their 80-acre farm (known as Pen-Mor � a blending of his name with that of his wife) where Binn bred and raised thoroughbred horses. When Penny tragically and suddenly died in a 1997 accident, Binn�s life was suddenly changed.

He subsequently made the decision to divest his interest in Atwood Richards. Eventually remarrying, Binn founded Asian Business Solutions, an international barter company, in 2001. He and his new wife, Marisol, lived in China for five years where they learned that spas and massage are an important part of the Asian culture.

Returning to the U.S. after the 2001 tragedy on 9/11, they were awestruck at the changes encountered at the U.S. airports. It was then that the Binns envisioned an unusual business opportunity at hand. Time at airports had lengthened and they discerned that a need for massages and spa services would be welcomed by many passengers. Quickly taking advantage of the opportunity at hand, they established Xpres Spa. Now, after a decade of hard work, former barter baron Moreton Binn has become a spa mogul.

Home Ownership Will Change In Days Ahead

A couple of weeks ago we reported on how the housing bubble has affected the economy. Let�s now take a look forward, by surmising that a future housing turnaround occurs. What will it look like, and how will it differ from the past? We could well see a home-price recovery without a home-ownership recovery. And here�s why:

Investors (pools of credit-worthy individuals who wish to become landlords) are the biggest change now underway, regarding today�s home purchases. So if prices rebound, the home-ownership rate, which peaked at 69% in the third quarter of 2006, will likely keep falling. The rate is presently 65.4%,  but John Burns, president of John Burns Real Estate Consulting, anticipates it hitting 62.9% by 2015 � the lowest since records have been kept. Burns claims there is no way we�re going back to the 69% peak, because many first-time buyers during that boom weren�t qualified to own the homes they had purchased.

The lower home-ownership rate will have broad economic implications, because home equity will be a less-critical part of household wealth in the future. But on the positive side, fewer, less-leveraged individual homeowners will pose less risk to banks and taxpayers who backstop housing. Another positive effect from rising prices will be a boost in construction, as recent new-home sales showed unsold inventory at its lowest since the early 1960s. In short, a home-price recovery without a home-ownership recovery is a definite possibility.

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.

Summer Vacation Changes?

A recent poll of adults age 18 and over revealed the following:

�         Are you planning to take a vacation trip this summer?

YES             43%                                                    42%

NO              56%                                                   54%

�         Do any of the following apply to your travel plans because of cost?

Canceled/delayed trip

                   13%                                                   10%

Stay closer to home

                   26%                                                   23%

Take shorter trip

                    15%                                                   10%

Stay with family/friends

                   23%                                                   21%

None of these

                   34%                                                   40%

�         Have your vacation plans been affected by gasoline prices?

YES             42%                                                   42%

NO              57%                                                   57%