August 26, 2003
Written by Bob Meyer, Editor of BarterNews
IMS Net Revenue Jumps UP 55%
International Monetary Systems (OTCBB:INLM) reports that the internal growth of the company's Continental Trade Exchange barter network, plus their most recent acquisitions (Tradecorp of Columbus, OH, BarterNet of Brentwood, CA, TradeMasters of Louisville, KY), are paying off. IMS reported net revenue of $1,013,231 for the second quarter ending June 30, 2003. Last year's second quarter net was $653,700.
IMS is the cover story for the recently published issue of BarterNews magazine. The cover and Editor's Note can be accessed on the Home Page.
Coming To A Mall Near You...More Advertising Opportunities
More money is spent on marketing, promotion, and advertising in the U.S. than the next 57 countries combined. And the ingenious ways of adding to the mix continues to expand. Latest on the horizon will be 1,300 large digital-plasma screens at 64 of Westfield America malls nationwide.
These digital billboard screens will be installed, owned, and operated by AdSpace Networks Inc. The Burlingame (CA) firm is leasing space from Westfield to place 15 to 25 screens in each Westfield mall, depending on the mall's size. The companies will share ad revenue, which is expected to range from $50 million up to $100 million.
The first of the screens will be installed by November at the Garden State Plaza in Paramus (NJ), and Fashion Square in Sherman Oaks (CA).
you know that your classified ad gets one full year exposure in the
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Change Continues At ITEX As Company Pursues Firmer Financial Ground
ITEX Corporation (OTCBB:ITEX) reveals their fourth quarter of fiscal 2003, ending July 31, will show a loss. Audited numbers will be released in late October on Form 10-KSB.
CEO Steven White elaborated, "We were faced with a number of expense items that will impact the fourth quarter. A number of unresolved legal issues were recently uncovered by the new management, and were dealt with immediately."
Several outstanding lawsuits were settled in the fourth quarter, incurring over $100,000 in legal fees and settlements. The settlements eliminated further legal costs and potential exposure to cumulative claims, which was significantly higher than the amounts paid.
The company also reported additional litigation claims as a result of the recent restructuring of its executive management team...the corporate staff has been reduced by thirty percent.
ITEX will continue to seek regulatory approval in California, and certain provinces in Canada, to sell franchises. They are currently qualified to sell franchises in 49 of the 50 states.
Extraordinary Revealing Report For Business Owners - Click here.
"The whole bubble of the dot-com era created an awful lot of people who perceived themselves as entrepreneurs."
Chicago billionaire and dealer in distressed assets, Sam Zell, attended the University of Michigan, one of the finer colleges in the world. Yet, Zell says he never thinks about his schooling and his business in the same vein. In short, his alma mater never sparked or shaped his entrepreneurial dreams or successes.
Zell lists the following traits as entrepreneurial: high-energy level; the word failure is nonexistent; lonely; thinks about solutions even if it's not his role; a leader; a certain amount of living on the edge; a significant need for recognition; and most important, understands that if you ever have to take a vote, you've lost.
Interestingly, Zell and his now-deceased partner, Robert Lurie, gave $10 million to the University of Michigan to fund an Institute for Entrepreneurial Studies bearing their names. Zell hopes his institute helps people discover the talents they have.
The classes and programs at the Institute are popular because many people have slight or strong entrepreneurial leanings, and they can be more fully developed by training. And for those who do measure 100% (on the Zell meter), entrepreneurship classes may draw them to a business school where they'll likely learn more traditional management skills that will help them.
Another benefit of entrepreneurship training is that some people, those not cut out for the risk and worry, will take the classes and recognize that entrepreneurship is not for them.
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Restaurant Sales Up—Good Sign For Better Economy
After a year of weekly declines that represented the worst restaurant slump in nearly three decades, industry sales have risen for five consecutive weeks...according to NPD Group, a market-information firm in Port Washington (NY).
The streak of positive sales increases began the week of June 29. Prior to that, the industry sustained the longest stretch of declines since 1975, when NPD began to track tens of thousands of restaurant unit sales by segment and category.
The only concern about the robust gains is that they are not broad-based, but rather concentrated among the largest restaurant chains which are pulling people out of their homes with better marketing.
Savvy independent restaurant owners use the services of a trade exchange which provide them an additional conduit for business, and then will use much of the trade earned for their marketing efforts. (BarterNews has published a special 16-page restaurant report.)
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