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August 21, 2007

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer...08/21/07

BusinessWeek Lists IMS In Keiretsu Article

The word keiretsu describes a mutually supportive business relationship, typically between a group of corporations with broad power and reach or between manufacturers, suppliers, and investors. The term was used extensively in Japan after World War II, when strong banks invested in specific companies and encouraged them to supply discounted products and services to each other to promote mutual success.

As mentioned in the article, International Monetary Systems is a barter association which promotes buying and selling within its network as one of the benefits of bartering—using trade dollars rather than cash to purchase goods and services from other group members.

Other keiretsu supportive relationships include venture capital groups, cooperative business associations, and local networking groups.

Metro Networks Creator Selling California Ranch

David I. Saperstein, founder of traffic-and-news reports provider Metro Networks, is asking $75 million for his 125-acre equestrian estate located in Simi Valley, some 40 miles northwest of Los Angeles.

In the Tuesday Report of April 24, 2007, we reported that Saperstein’s wife Suzanne was awarded the couple’s $125 million Los Angeles mansion (45,000 sq. ft.) in a divorce settlement.

In 1999 Saperstein sold his company to Westwood One for $900 million in stock. Saperstein’s bartering of his media in Houston was legendary. As he expanded nationwide he acquired time from stations (in exchange for traffic reports) which he then bundled/syndicated and moved to national advertisers.

Wade Cook Sentenced To Seven Years

A U.S. District judge sentenced former investment guru, author and speaker, Wade Cook to more than seven years in prison, and ordered Cook to pay $3.75 million in back taxes on $9.5 million of under-reported income. (His wife Laura, who kept the books and admitted she created documents in an effort to evade taxes, received 18 months in prison.)

Cook, a former cab driver, wrote three get-rich books: Wall Street Money Machine, Wealth 101, and Business by the Bible. He shut his operations down in February 2003, a month after his publicly-traded company, Wade Cook Financial Corp. of Tukwila (WA), filed for Chapter 11 bankruptcy protection.

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International Monetary Systems Increases Revenue 89%

International Monetary Systems (OTCBB:INLM), has filed its second quarter report on Form 10-QSB. During this period, IMS recorded substantial trade volume and revenue growth.

The company converted $200,000 of its debt to equity and continued the commitment to its recently implemented “Best Practices” program. In an effort to increase organic growth, the firm also expanded its outside sales force and spent substantial funds on new state-of-the art equipment, web site development, and an expanded workforce.

During the quarter ended June 30, 2007, IMS processed more than $27 million in trade transactions, which generated gross revenues of $3,420,662, compared to revenue of $1,810,654 in the second quarter of 2006, an increase of 89%.

Total expenses increased 104%, from $1,722,046 in the second quarter of 2006 to $3,507,521 in the current period. The expanded sales force produced more than 800 new clients during the quarter.

The company also received a sizable deferred tax benefit, representing the adjustment to the deferred tax liability, which arises from the differences in basis of acquired membership lists for financial reporting versus tax reporting. After adjustments for taxes, the net loss for the current quarter was $64,090, compared to a net loss of $46,482 last year.

Year-to-date gross revenue for the six-months ended June 30, 2007, totaled $6,721,671, compared to $3,552,990 for the same period in 2006, an increase of 89%. Total expenses for the six months ending on June 30, 2007 were $6,857,187, compared to $3,435,649 for the corresponding period in 2006, an increase of 100%.

Total year-to-date net loss, before the income tax benefit, for the first six months of 2007 was $307,439, compared to a loss of $22,597 for the same period in 2006. After tax adjustments, the net losses for six months were $127,362 for 2007 versus $68,597 for 2006.

Year-to-date operating profit or EBITDA (earnings before interest, taxes, depreciation and amortization) totaled $597,763, an increase of 20% over the $498,513 reported for the same period last year.

For the first six months of 2007, the company had positive cash flow of $621,582 compared to just $279,525 for the same period of 2006, an increase of 122%. Total assets have increased to $18,117,110, from $15,203,887 at the end of 2006, with stockholders' equity increasing to $8,774,976 from $7,779,357.

At the end of the second quarter of 2007, the company's cash balance had increased to $1,419,409 from $930,962 at the end of 2006.

For more information on IMS see “Site Sponsors” at top of page.


Second Franchisee Acquires Rights To Manage Former Intagio Members For $500,000

ITEX Corporation (OTCBB:ITEX) reported it has executed an agreement with Roger Boroway, ITEX franchise owner based in Fairfield (CT), granting for $500,000 the right and license to manage approximately 500 of the recently acquired former Intagio members located in Connecticut and Massachusetts. 

On August 1, 2007, ITEX announced it had acquired the commercial trading system previously operated by Intagio Corporation for $3,137,000. As a result of the acquisition, ITEX added 2,800 members and now has more than 24,000 on its roster.

Through the purchase, Boroway, whose ITEX franchise regularly ranks within the top offices, has almost doubled his membership to well over 1,000 members. The collective member base is expected to generate nearly $750,000 in cash transactions and subscription fee revenue annually, and to conduct $10 million per year in transaction volume ... making it the third largest franchise in the ITEX trading community.

At the time that Intagio was acquired, ITEX reported that NYTO Trade Incorporated, a franchise operated by John Castoro in New York and New Jersey, obtained approximately 200 former Intagio clients under similar terms for $200,000.

“Our top priority is acquiring members, followed by increasing transaction volume between the business members in our community,” said ITEX Chairman and CEO Steven White.

“The Intagio acquisition advances our first objective; it is now the task of Mr. Boroway’s team to increase transaction volume within this member base. Roger operates a very efficient and productive franchise, and I am confident he will provide these new trading partners with exceptional service.”

Boroway commented, “I am pleased to have reached this agreement with ITEX. Expanding my franchise operations has been an ongoing goal and this acquisition has afforded me the opportunity to double in size overnight.

“We expect only positive results from the addition of these new members into our client base. My goal is to redouble my franchise over the next three years, becoming the top ITEX franchisee in the country.”

For more information on ITEX see “Site Sponsors” at top of page.


Domain Name Swapping Marketplace Launched

SwapNames (www.swapnames.com) is a newly launched free marketplace for trading domain names and web sites. With SwapNames, domain name owners can search out domains of interest, offer their own domains to swap, and receive swap offers from other domain owners.

Additionally, the site acts as a domain name marketplace where users have the option of buying or selling valuable e-properties. All listings on SwapNames have both a fixed selling price and a trade value, which creates valuable exposure to easily market and sell or trade domains.

Presently, there are no open, free-for-all marketplaces just for domain name barter trading. All other domain name marketplaces are either auction houses or for sale listing sites. With the launch of SwapNames, the domain name industry now has its very own barter trading portal.

The idea for the site was inspired by Kyle MacDonald who traded one red paperclip for a different item, and continued trading his items until, 14 trades later, he owned a house. SwapNames' founder Koay Al Vin, after reading about the One Red Paperclip project, immediately related the idea to the hundreds of domain names he had invested in.

“Most of my lesser quality domain names could not be sold, and were left undeveloped and gathering ‘digital dust.’ I could not properly monetize the names, and renewal dates were drawing nearer,” Koay disclosed.

“Because of the circumstances, I had to actively search out fellow domain owners to barter (trade) my names with theirs. Today, every domain owner in the same boat can actively trade-up their domains and that is an extra alternative instead of just letting their domains expire,” he added.

“I knew that this industry was really in need of a platform for people to swap their existing domains. Now, everyone can diversify their portfolio of domains the way Kyle MacDonald did, but this time it will be for virtual pieces of properties: domain names.”

Malaysian-based domain investor and entrepreneur Koay Al Vin, incorporated SwapNames in Delaware, USA, and operates from a tiny, but beautiful, island in Malaysia called Penang.


Rules Differ For Tax-Free Exchanges On Vacation Homes

The Federation of Exchange Accommodators is a national trade organization formed in 1989 to represent those who are directly involved in Section 1031 Exchanges. At the organization’s midyear conference attendees shared common challenges they faced regarding their property...vacation homes topped the list.

Section 1031 of the IRS code allows a property held for business or investment to be exchanged tax free for another “like kind” property of equal or greater value if the exchange adheres to specific guidelines. Which category one’s property falls under is usually determined by how many personal days you use the property for vacation.

If your vacation home is an investment property, the rule is that personal days must not exceed 14 a year, or 10% of rental days, whichever is greater. If you want to use the vacation home in a tax-deferred exchange, it must be used as a rental at least for the entire previous year and rented out at fair market value. Homeowners can flip-flop the status of the vacation home each year.

When planning a 1031 exchange, make sure the home held investment status for at least the previous year before attempting an exchange. Although there are no absolute rules as to how long the property should be held as an investment, accountants suggest that the property show up as a rental on at least two consecutive tax returns.

The consecutive part is vital. If the property reverts back to a second home in the year before the exchange, it would not be eligible for a 1031 trade.

A popular tax strategy is to convert the second home to a primary residence. Say a couple retire and sell their longtime family home, pocketing $500,000 tax free from its sale. The couple move to their vacation home, making it their primary residence. Two years later, they can sell the place, move to an apartment and pocket up to $500,000 tax free again because it had become their primary residence.

Although vacation homes can certainly help with your financial picture, make sure you are clear on the status before you attempt to trade or sell.


Universal Law-Of-Reciprocity Key To Trade Exchange Success

Every trade exchange owner in the world should not only be aware of the law-of-reciprocity, but using it, in the operation of their business.

Trade exchange owners are invited to e-mail bmeyer@barternews.com for more information on how you can become “the exchange of choice” in your area. When e-mailing Bob Meyer, put “Law of Reciprocity” in the subject line.


Hotel General Managers

Here’s The Easiest $100,000 You’ll Ever
Bring To The Bottomline!

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 hotel rooms and/or 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. (Please type in AV Services On Trade in the subject line of your e-mail.)

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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The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today’s New Age Of Possibility

There are many forms of secondary capital—which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our “Secondary Capital Section.” Check it out... www.barternews.com/secondary_capital.htm.

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