ITEX Corporation (OTCBB: ITEX), a leading marketplace for cashless
business transactions in North America, has augmented its management
team with veteran executive Steve Savad, who assumed the position of
Director of National Partnerships. Savad co-founded Restaurant.com
in 1999 and earlier this year departed from day-to-day management.
He will lead the strategy in executing cooperative agreements with
national companies who have a base of small business clientele.
�Steve Savad and I were introduced to each other in January and have
shared several motivating conversations on partnership strategies
over the past couple months,� said ITEX CEO Steven White. �Steve�s
energy is contagious. He has a proven record of developing an
enterprise and executing high client growth. His talents will be
utilized to execute our strategy of partnering with specific
organizations to create more members within our trading community.�
Prior to his association with ITEX, Savad spent nine years building
and running Restaurant.com. Through his efforts their team grew to
over 160 people and partnered with more than 8,000 restaurants
across the country. In 2007 alone, the company�s program helped fill
millions of empty tables for the industry.
Cameron Johnson, ITEX Business Development Specialist, said the
Savad appointment will advance ITEX�s strategy of adding new small
businesses to its existing membership base. �Steve�s experience is
expected to help make our ITEX member registration program more
successful by bringing strategic focus to our efforts to increase
member registrations through national partnerships.�
For more information go to
www.itex.com.
IMS Files Second Quarter Report
International Monetary Systems (OTCBB:INLM) has unveiled its Form
10-Q report for the second quarter of 2008. During the three months
ended June 30, the firm processed more than $29 million in trade
transactions, compared to $27 million in the same quarter in
2007...an increase of over 7%. The $29 million trade volume
generated gross revenues of $3.5 million, compared to revenue of
$3.4 million in last year�s second quarter...an increase of 3.5%.
Total expenses increased 5.5% from $3.5 million in the second
quarter of 2007 to $3.7 million in the current period. The increased
expenses were attributable to the continued high cost of new-member
enrollments, plus higher non-cash charges for depreciation,
amortization of membership lists, and stock issued for services.
In spite of higher revenues, IMS had a net loss from operations of
$161,020 in this year�s quarter, compared to a loss from operations
of $86,859 during last year�s second quarter. After adjusting for
interest expense and the income tax benefit, the net loss for the
current period was $64,193, nearly the same as the $64,090 for last
year�s second quarter.
During this year�s second quarter, IMS generated gross revenue of
$7.0 million compared to $6.7 million last year...an increase of
5.0%. Total expenses increased from $6.8 million last year to $7.5
million this year during the same quarter. The net loss from
operations was $470,289 for the first six months of 2008, compared
to a loss of $135,516 for the same period last year.
Further details in the Form 10-Q document can be accessed at
www.sec.gov.
For more information on IMS go to
www.imsbarter.com
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Barter Professionals � Where Are They Now?
Stephanie Gallo
Formerly a director of marketing for Susan Groenwald�s Chicago
Barter, Gallo is now working with Groenwald again, this time in the
capacity of director of marketing at the Chamberlain College of
Nursing.
The college has campuses in St. Louis, Phoenix, Chicago and
Columbus. In addition, they offer a bachelor�s and associate degree
program in nursing, an online bachelors degree completion, and are
launching an online master�s program in the coming year.
For more information see
www.chamberlain.edu.
Foreclosures Continue Uptick As Banks
Reel Under Huge Inventories
Nationwide, more than 272,000 homes received at least one
foreclosure-related notice in July, up 55% from about 175,000 in the
same month last year and up 8% from June, RealtyTrac Inc. disclosed.
That means one (1) in every 464 U.S. households received a
foreclosure filing last month.
Irvine (CA)-based RealtyTrac monitors default notices, auction sale
notices and bank repossessions. More than 77,000 properties were
repossessed by lenders nationwide in July, the company noted. The
highest foreclosure rates were in Nevada, California, Florida,
Arizona, Ohio, Georgia and Michigan. Foreclosure filings increased
from a year earlier in all but eight states.
The combination of weak housing sales, falling home values, tighter
mortgage-lending criteria and a slowing U.S. economy has left
financially strapped homeowners with few options for avoiding
foreclosure. Many can�t find buyers or owe more than their home is
worth, and thus can�t refinance into an affordable loan.
As foreclosures soar, banks and mortgage investors are also facing a
pileup of foreclosed properties on their books and are cutting
prices dramatically.
Money-Making Reports Available From BarterNews
THE UN-COMFORT ZONE (with Robert
Wilson)
Will You Freak-Out Or Hunker Down?
Sometimes motivation is forced upon us. We are thrust into the
Uncomfort Zone. And, whether we sink or swim depends on how we
respond to the situation. How do you react during a crisis?
Here are the stories of two men who faced a crisis late in life and
how they dealt with it. One was a restaurant owner; the other a
janitor. The former went into bankruptcy at an age when most people
retire, and the latter was fired from a job he'd had for nearly 20
years.
The restaurant owner enjoyed a successful business in a small town
at the edge of the Appalachian Mountains. It was a great location
along busy U.S. Route 25. And, because he offered the best food and
service around, his eatery was jammed from sunup to sundown. But it
wasn't to last.
The janitor started his job at St. Peter�s Church in London as a
teenager. Over the years he married and raised a family and enjoyed
a perfectly predictable profession with solid job security. That is
until the new vicar came along.
Over the course of 26 years, he was honored by the state governor
for
his recipes; and was praised by famous restaurant critic, Duncan
Hines, in his column Adventures in Good Eating. Then in 1956, the
new super highway by-passed the little town. It�s amazing the
difference just a few miles can make. Two years later the restaurant
was closed and the property auctioned off to pay creditors. At
64-years-old, the restaurant owner was broke.
It was around the turn of the twentieth century when the new vicar,
a stickler for decorum, took over St. Peter�s Church. When he
learned that the janitor could not read, he gave him three months in
which to learn. Quite depressed by the news, the man thought it
might make him feel better if he smoked a cigarette.
Unable to afford the cost of opening another restaurant closer to
the highway, he reviewed his assets. All he had left was his
knowledge and the delicious recipes that made his food so popular.
So, he got into his car.
As he walked home, the janitor searched for a tobacco shop. There
was
usually one on every block, but there were none near the church. He
walked block after block without finding one. By the time he reached
his house he knew exactly what he was going to do.
Town by town, he drove, stopping at every restaurant along the way.
He told the owners they would be more successful if they served his
secret recipes under his brand name and paid him a royalty. Two
years later, in 1960, he had 400 restaurants serving his food. By
1963 he was making a profit of $300,000 per year. And, in 1964,
Colonel Harlan Sanders sold Kentucky Fried Chicken to investors for
$2 million, plus a lifetime salary of $75,000 per year.
With his meager savings, he opened a tobacco shop near the church.
It
was an immediate success. His profits went to open a second, then a
third and before long he had thriving tobacco shops all over London.
Ten years later, he met with his banker about investing his
earnings. The banker gave him some papers to sign. The man asked the
banker to read the papers to him, explaining that he didn't know
how.
Shocked, the banker exclaimed, �You are so successful, just think
where you�d be today if you could read!� Albert Edward Foreman
smiled and sighed, �I'd be the janitor at St. Peter�s Church.�
(Based on a true story by Somerset Maugham.)
Did you know that in Chinese, the symbol for the word �crisis� is
the same symbol used for the word �opportunity?� Two sides of the
same coin. In other words, it�s all in our perspective. Will you
find the opportunity in your next crisis?
Robert Evans Wilson, Jr. is a motivational speaker and humorist. He
works with companies that want to be more competitive and with
people who want to think like innovators. For more information on
Robert�s programs visit
www.jumpstartyourmeeting.com.
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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