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August 19, 2008 Written
by Bob Meyer, Editor of BarterNews
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Dear Readers, Please Note
Our Tuesday
Report will be published biweekly during the months of July and
August. We will return to our weekly schedule in September, and wish
you an enjoyable summer.
From
the desk of Bob Meyer...08/19/2008
Record Month For IRTA?s Universal-Currency Use
Trade exchange owners used the International Reciprocal
Trade Association?s ?Universal Currency? in the month of
July to close $403,419.53 in sales. besting the previous
best month?s record of $367,782.51 back in July 1999.
For more information on the Universal Currency system see:
http://www.ucci.biz.
Steven White Gives Presentation At Technology
Conference
Steven White has the
honor of presenting at the 4th Annual Summer Technology
Conference hosted by Security Research Associates, on
Monday, August 18, 2008. The conference is being held at the
Omni Hotel in San Francisco.
During the presentation, White will provide insight about
the ITEX web-based trading platform, business strategy and
initiatives. The presentation will also be broadcast live
over the internet, and a replay will be archived in the
Investor Relations section of the ITEX web site
http://www.itex.com.
Over 80% Of Workers Saving Too Little For
Retirement
According to the Hewitt Associates study, four of five
workers save too little to maintain their lifestyle after
retirement. The study looked at the projected retirement
levels of nearly 2 million current workers of varying ages
at 72 large U.S. companies and used actual employee
balances.
People need to save from 10% to 12% of their income
throughout their career to keep up the same lifestyle after
retirement, the study reported. (Most people contribute an
average of 8% of their income into savings plans.)
One-Third Of Homeowners Are ?Under Water?
According to
www.Zillow.com, about one-third of U.S. homeowners
who bought homes in the last five years now owe more on
their mortgages than their properties are worth. (For those
who bought at the 2006 apex of the housing market, 45% are
now under water.)
Zillow is a Seattle-based service that offers values on more
than 80 million homes.
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. . .) |
Marc DiBella Joins National Trade
Banc As VP Operations
National Trade Banc announced that Marc DiBella, a prominent Chicago
manufacturer, real estate investor and developer, has joined NTB as
Vice President-Operations to help drive NTB?s acquisitions and other
strategic initiatives. ?Over the years, National Trade Banc has
acquired numerous trade exchanges from New York to California,
benefiting members and exchange owners alike,? said NTB President
Heidi Flis. ?With Marc DiBella on board, these efforts are moving
forward with even greater energy than before.?
Mr.
DiBella spearheaded numerous real estate projects throughout the
Chicago region, serving variously as investor, developer and general
contractor. He was an executive of both Continental Windows, a
leading Illinois window manufacturer and supplier for construction
projects nationwide, and the Lifetime group of companies, which
handled distribution and general contracting plus management of
publicly funded projects. At Continental and Lifetime, Mr. DiBella
established barter divisions that saved these companies hundreds of
thousands of dollars annually.
?In
the process,? DiBella recalled, ?I came to know many trade exchange
owners throughout the United States. I look forward to furthering
these relationships and forging new ones.? He will also contribute
his industry knowledge and management expertise to National Trade
Banc?s corporate trading division and other initiatives.
For
more information go to
nationaltradebanc.com, or e-mail
office@ntbmail.com.
ITEX Acquires Media
Services Business
ITEX Corporation (OTCBB: ITEX), a leading marketplace for cashless
business transactions in North America, has acquired the media
trading system Intagio Media Services, with its client base and
advertising credit assets, of Intagio Corporation of San Francisco.
The advertising and media sector is currently the largest component
of transaction volume in the ITEX Marketplace. With the new media
services, ITEX intends to expand its capability in this market
sector.
The
Intagio Services were procured on August 1, 2008, and the data
migration into ITEX?s web-based trading and payment systems platform
has been completed. The acquired accounts will be managed from
ITEX?s corporate-owned office in Chicago (IL). Doug Hayner and
Asimina Georgiou will join the ITEX team from Intagio, bringing with
them valuable client relationship experience.
?We
are pleased to greatly enhance the most active sector of our trading
community with potentially high-volume media and hospitality
clients,? said Chairman/CEO Steven White. ?With this acquisition, we
now have the ability to offer a variety of new and exciting media
opportunities directly to the ITEX Marketplace.
?Our media managers will offer enhanced media planning and execution
services, expanding our clients? budgets by enabling them to
fund part of their media plan through the trading of excess goods
and services. In addition, we plan to use our expanded media base to
register more member businesses in the hospitality, travel, and
restaurant industries.
?This is a low-risk acquisition with great upside potential,? White
pointed out. ?Our expansion into media trading services compliments
our current business model and we believe it provides ITEX a
significant growth opportunity.?
Transaction Terms
The
purchase price of approximately $750,000 included the following:
-
A cash payment of $
51,468;
-
A $687,500 secured
promissory note financed by the seller at 8% APR for 12 months;
-
Assumption of
certain liabilities.
The
acquired assets include the following:
-
$4,000,000 in media
inventory;
-
300 client
relationships;
-
Historical
transactional data and associated accounts;
-
Accounts receivable.
ITEX's cash and cash equivalents exceeded $1.0 million as of July
31, 2008.
For
more information on ITEX visit
www.itex.com.
Looking
Back?Barter Happenings From Past Tuesday Reports
One Year Ago?
Tax-free
Exchanges On Vacation Homes, plus Domain-Name Barter Marketplace
Launched and others.
Click here
Two Years
Ago?
Barter To Play
Prominent Role In 2008 Beijing Olympic Games. (One of many
articles.)
Click here
Three Years
Ago?
Real Estate Boom (Now
Bust) Was Built On 1997 Taxpayer Relief Act. (One of many articles.)
Click here
Four Years
Ago?
The
Largest Private Currency In The World (Frequent Flyer Miles) Lacks
Fulfillment. (One of many articles.)
Click here
IMS Top Sponsor At
IRTA?s Annual Barter Conference
International Monetary
Systems (OTCBB:INLM), a worldwide leader in business-to-business
barter services, announced that it has been awarded the top
sponsorship position of the 29th Annual Barter Convention held by
the International Reciprocal Trade Association (IRTA) in September.
Don Mardak, CEO of IMS,
commented, ?IMS is fortunate to have this opportunity to support the
international barter industry in this way. The IRTA has worked
diligently for many years to educate businesses and inform
governments about the proper and prudent operations of reputable
barter networks. IMS recognizes the value of this work and is proud
to support IRTA as their Platinum Sponsor for 2008.?
Ron Whitney, Executive
Director of IRTA, added, ?IRTA is delighted that International
Monetary Systems is participating and supporting IRTA in such a
significant way. It is evidence of their on-going commitment to the
highest ethical conduct and consistent promotion of a healthy barter
industry overall.?
The IRTA annual
conference will welcome trade exchanges from around the world to
participate in discussions relative to industry trends and ethical
standards. The event will be held September 22 through September 24
in Orlando, Florida.
Money-Making Reports Available From BarterNews
Sirri Simsek, CEO
Turk Barter,
2008
Barter Hall Of Fame Inductee
Ron
Whitney Executive Director of the International Reciprocal Trade
Association reported that Sirri Simsek will be formally recognized
as the 2008 inductee into the Barter Hall of Fame in September,
during IRTA?s 29th Annual Barter Convention to be held at
the Westgate River Ranch near Orlando Florida.
?Sirri Simsek has truly contributed to the trade and barter industry
in a universally recognized manor,? asserted Whitney. ?The industry
is very proud to honor him.?
The Barter
Hall of Fame is the supreme honor bestowed by the industry. The
accolade recognizes individuals of the highest professional
character and ethical conduct who are regarded as indisputable
leaders of the industry. An inductee must have a minimum of ten
years of continuous industry service, and have made recognizable and
specific contributions to the industry as a whole.
Mr. Simsek
is CEO of Turk Barter located in Istanbul, Turkey. The company has
over 10,000 participating business clients that are active in
domestic and international barter transactions through the Turk
Barter system.
As an
active global speaker Simsek has addressed and educated audiences
about the economic benefits of modern bartering during several
international conferences, including
the Eurasia Economic Summit, Conference of the
Stroheim Foundation, the Kalder International Association and the
ESBAS Conference.
His
other industry accomplishments include:
-
Authoring an
educational book titled ?Moneyless Trade: Barter?
-
Serving several
years on the IRTA Global Board of Directors and Ethics Committee
-
Applying swipe
technology to barter transactions (the first)
-
Working with the
Turkish government securing standards of barter system
operations for the benefit of all barter clients.
?We
congratulate Sirri for earning and receiving the Barter Hall of Fame
Award? said IRTA President David Wallach. ?He exemplifies all of the
best qualities our industry has to offer.?
Current Members Of
The Barter Hall Of Fame
1997: Paul
Suplizio, Bob Meyer, Mac McConnell, Paul Enz
and Werner Zimmerman
1998: Susan Groenwald, Colonel Bill Austin
1999: Alan Elkin
2000: Steve Webster
2001: Allan Hackel
2002: Art Wagner
2003: Steve Goldbloom, Wayne Sharpe
2004: Andrew Federowski
2006: David Wallach
2007: Art Goehring
Hotel
General Managers
Work With Audio/Visual
Vendor On Barter
Collect cash, as usual, from the guest accounts staying at
your facility that require the use of professional AV
services. And rather than shouldering your ongoing employee
costs, or your current vendor?s cash agreement for AV
services, here?s a much better alternative:
Work with a proven national vendor (a sterling 25-year track
record) who will provide all of the AV services for your
hotel on a 100% TRADE BASIS! (Payment to be in the form of
trade dollars.)
Your hotel?s annual AV billings must be a minimum of
$200,000, and this offer is available only in the
continental United States.
For a confidential introduction contact Bob Meyer via
e-mail:
bmeyer@barternews.com.
Attention Trade Exchange Owners:
If your member hotel(s) have a minimum of 10,000 sq. feet of
meeting space and annual billings of at least $200,000 for
AV services this is a great opportunity to earn substantial
cash service fees on the hundreds of thousands of trade
dollars your hotel member will be paying the vendor. Contact
Bob Meyer at the above e-mail. |
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