August 2, 2005
by Bob Meyer, Editor of BarterNews
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ITEX, BXI Technology Integration Completed
On July 6 ITEX Corporation (OTCBB:ITEX) announced it had entered into an agreement to acquire BXI, combining the two largest barter companies in the U.S. to amass some 21,000 member businesses working through 95 independently owned offices.
The company immediately moved forward to address the challenge of overlapping accounts, which, while representing only 3% of the overall member base, was a sensitive issue for brokers of both organizations. Reportedly, the number of overlapping accounts has been reduced to fewer than 300.
The importation of the BXI database into the ITEX Trade Exchange Account Management (TEAM) system was ambitiously completed by the desired date—the end of July. With the technology integration in place, the company is positioned to move aggressively forward as planned, according to CEO Steven White.
The first month for the combined ITEX-BXI group shows the immense potential of the merger. Here are the figures, compared to the ITEX month of July 2004:
- Cash revenue of $1.1 million, versus $800,000 for 2004—a 40% increase.
- Transaction volume of $18 million, versus 12 million for 2004.
- 21,500 members businesses, versus 13,400 in 2004.
- 95 independently owned office locations, versus 60 in 2004.
- 26,500 transactions, versus 15,241 in 2004.
For more information go to: www.itex.com.
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Every Billionaire In The World
Used At Least One Of These 9 Strategies
A most fascinating article on the above headline will be published in the September issue of The Competitive Edge newsletter. (See the following article for more information on this valuable newsletter.)
Three of the nine billionaire strategies incorporate, in one way or another, barter. If you are operating a barter business and want to get your clients truly excited and motivated to use the world’s most exciting and profitable business tool it’s time for you to take some action! Learn what the three strategies are and then point them out to everyone in your exchange, as well as all of the prospects you to talk over the next decade!!
Start right now...use The Competitive Edge—a most valuable marketing tool to build your business in addition to helping your clients build their wealth! Give Bob Meyer a call today for full details (949) 831-0607.
From Tuesday Report dated October 12, 1999. . .
The Great Trade That Fizzled!
The Venture Law Group, which helps launch startup internet companies like Yahoo, eToys, and Netcentives, receives up to 5% of a company's equity in exchange for their professional services.
Chairman Craig Johnson said they owned 1% of Yahoo, but sold the shares for $2 each...shortly before Yahoo's public offering. Now, Johnson laments, “If only we had held it!” Yahoo's market value is now $30 billion, so that 1% interest would be worth a cool $300 million!
Editor’s Note: Venture Law Group’s 1% of Yahoo today (August 2, 2005) would be worth more than $450 million, as Yahoo’s market value is now just shy of $47 billion.
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Plush, Resort Vacation Home Programs Continually Multiply
High-end homes in world-famous vacation destinations, where exclusive memberships ranging from $125,000 up to $300,000 enable travelers the use of these “wow” properties, have been growing in popularity since 2001.
That’s when Mitch Willey, a 54-year-old entrepreneur and former corporate lawyer, having limited time to enjoy his vacation properties in Naples (FL), Nantucket, Palm Springs, and Paris, came up with the idea. His company, Time & Place Homes, has grown to nearly 100 properties today.
And there are now a half-dozen similar programs, where travelers pay a large one-time fee plus a set annual fee to vacation in a selection of properties with resort-like amenities, that are multiplying.
Two new entrants are targeting golfers and weekend travelers. Markers, one of the first residence clubs targeted to golfers, started accepting members this month for its 36 homes, all of which are situated on or near golf courses. The starting price for charter members is $195,000 and annual dues of $14,500, which doesn’t include green fees.
Signature Destinations Club is offering clusters of homes within driving distance of major metropolitan areas. The company recently started taking reservations for its first group of residences in the Seattle area and plans to expand to nine additional areas throughout the U.S., including the East Coast early next year. Members pay a $125,000 initial fee and $8,500 in annual dues, for eight weeks per year in the homes.
Some of these exclusive properties are now entering the barter marketplace during the shoulder seasons. The vacant time is traded, enabling barterers the use of these fabulous properties for a weekend or longer. Selected trade exchanges and corporate barter companies will have access to this inventory.
New Barter Book On The Market. . .
After 23 years of educating, marketing, and putting millions of dollars worth of personal barter deals together, BancMarc owner William Meacham has put all of his trading ideas down on paper. His book, Smarter Companies Barter.com, educates both new and seasoned business owners on how to get the most out of their membership in a barter exchange.
It’s a must read for everyone—business owners, members of barter exchanges, and non-business owners. Learn the do’s and the don’ts...the how-to’s and why nots.
To download the book, which comes with a money-back guarantee, go to: www.smartercompaniesbarter.com.
International Monetary Systems Announces Another Acquisition
A New York City exchange, International Barter Network, will be the fourth acquisition by IMS (OTCBB:INLM) over the past three months.
Don Mardak, CEO of IMS, noted, “This is a very important strategic move for our company as we enter the ‘Big Apple.’ Mardak added that Doreen Stahl, the founder and head of the International Barter Network, has done a tremendous job of building one of the most versatile trade exchanges in the barter industry.
“From video production services, custom web site design companies, limousine services and Broadway shows to fine dining restaurants, outdoor advertising and art galleries, IBN has been one of New York City’s leading sources for bartered services,” Stahl proclaimed.
For information on IMS see: www.internationalmonetary.com.
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Hotel Chain Embraces Valuable Barter Offer
Patrons staying at many hotels earn points or frequent flyer miles for their business loyalty. But given the fact that more than 80% of frequency miles are never used, many times such rewards are rather dubious.
However a 123 location hotel chain—Jameson Inns, or Signature Inns in the Midwest and South—have come up with a better offer. When a patron stays more than three nights a year they’re rewarded with shares of stock worth 10% of their nightly room rate.
The Atlanta hotelier thinks the program, launched with SEC approval on July 1, can generate more traffic. The program may have helped boost Jameson’s stock price. The shares, trading at around $2.40, are up more than 22% from January 1, 2005. (The hotel has also started a separate plan to sell commission-free stock to customers.)
As a traveler accumulates stock in the hotel chain their propensity to continue to revisit is reinforced. Other small-cap public companies might well consider such a strategy for three reasons: building additional revenues (greater earnings), growing their list of committed customers, and expanding their shareholder base.
Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.
- Economist John Rutledge says the U.S. pressure that prompted China to de-link the yuan from the dollar is dumb. Rutledge pointed out that within minutes of China’s announcement, U.S. bond prices fell and yields moved higher. He contends that mortgage rates are certain to follow, and higher mortgage rates mean the end of rising home prices and higher mortgage payments on adjustable rate mortgages, which were more than half of recent mortgage issues.
(Rate reductions were the driver for the 50% increase in U.S. home prices and huge home-building numbers over the past two years.)
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Entrepreneurs, nostalgic alumni and speculators are scrambling to lay claim to the former names (or variations of) old-line Wall Street firms that once were powers in the financial world...before their names were discarded after mergers. Samuel Hayes, a Harvard University finance professor says, “A name is what people think it is, and in the case of investment banking, the sizzle on the steak is a large part of the total meal.”
Robert Teller, a California businessman from Newport Beach, purchased the former home of Bing Crosby in Rancho Mirage (CA). Teller, 66, is the founder and chairman of Tel Phil Enterprises, the company that operates one of the country’s largest weekly swap meets at the Orange County Fairgrounds in Costa Mesa. Teller was known locally for his business smarts and trading ability.
Failed airline pension plans soon will amount to 38% of claims against the nation’s pension insurance system. Yet the companies operating these plans account for only 2.6% of the total premiums paid into the Pension Benefit Guaranty Corp.
(UAL has turned three of its four poorly-funded plans to the PBGC, which estimates it will sustain $6.6 billion in loses on the plans. The operator of United Airlines has paid less than $100 million in total premiums to the PBGC.)