Appoints Former IRTA Executive Director
Monetary Systems (OTCBB:INLM) announced the appointment of former
IRTA Executive Director, Krista Vardabash, as Director of Marketing
and Public Relations. Ms. Vardabash served as Executive Director of
the International Reciprocal Trade Association�the only
international trade association for the commercial barter
industry�for seven years.
Prior to her
service at IRTA, she maintained a successful business planning firm
in the northeast. Ms. Vardabash was recently recognized for many
accomplishments at IRTA, including strengthening the Universal
Currency network, establishing the IRTA brand worldwide, and
leadership and commitment through a challenging period of change.
forward to being a part of a team that has already made significant
strides towards uniting and standardizing the trade exchange
industry�which was always a focus during my tenure with IRTA,�
declared Vardabash. �This is a great opportunity to have a more
direct impact on that goal and to elevate the industry overall.�
(Krista Vardabash can be reached at (585) 244-0600, ext. 53.)
IMS CEO, Don
Mardak, added, �We are very pleased to have Krista bring her many
talents to our executive team. She is one of the most respected
people in the barter industry, and has already helped us create a
comprehensive five-year business plan that outlines the IMS vision
and critical areas of success. Going forward, she will also be
active in the marketing and branding of IMS, as we continue to
expand upon our position in the industry.�
information on IMS see �Site Sponsors� at top of page for click
Expert On Gift Cards Replies To Oct. 25 Article On Gift Certificates
(Submitted by Mike Kelly, CEO of
The issue of
escheatment (surrendering the unclaimed value) is, as you noted, a
state regulated issue. Issuers of stored value cards are forced to
turn over the value on these cards in many cases (I believe over 35
states now). What doesn't get mentioned often, is that the issuer is
still carrying a balance sheet liability in their pre-paid sales
means is that the revenue collected from the sale of these unused
gift cards is not recognized because the issuer has not delivered
merchandise against it. The cash is there, but the ability to
recognize it is not. There becomes a real accounting issue with
significant consequences...another article in and of itself.
Issuers in the
past, have addressed this problem by utilizing expiration dates and
inactive card fees, to �reclaim� the liability or a portion of it.
In the case of an expiration date, the total amount of the liability
was satisfied; with inactive fees, it was recognized incrementally.
obviously isn't concerned with the issuer�s accounting issue - only
the fact that the card should keep its value indefinitely. Hence,
state legislators have come to the consumer�s defense. After all,
who is going to promote that big businesses should be allowed to
take your money and charge you for holding it?
some issuers have taken expensive and temporary measures to
safeguard their gift card revenue. As an example, the issuer could
spin off the gift card issuing portion of their business, and
re-establish it in a state that doesn�t escheat these cards. This is
really only a temporary solution.
As you pointed
out the list of states banning expiration dates and regulating the
unclaimed property is increasing. There are fewer places where
reorganizing the business this way can be done. Crazy!!
businesses (spas, restaurants, etc.) are less impacted from an
accounting perspective, because they tend to perform cash-based
accounting. They�ll recognize the revenue when it is received, not
when they deliver service/merchandise against it.
however, often regulated to honor lengthy time frames and buyback
commitments�adding administrative costs. Here, the consumer takes a
bigger risk, because the likelihood that a small retailer will be
out of business is higher than that of a national chain (just a fact
of gift cards, on sites such as SwapaGift.com, allow the consumer to
realize the full value of their card/certificate, and often times
liquidate at a discount that is higher than any state-mandated laws.
In a swap transaction, both parties typically trade cards that are
of equal value...and therefore are not forced to discount the scrip.
the parties are really trading the restrictions that these cards
represent (good at the issuer only). The opportunity to trade scrip
at parity or purchase scrip at a discount, are inviting to
value-seeking consumers...reasons why
has been able to establish a sound, liquid, secondary market.
There are over 500
articles posted on our blog.
This scam has
been verified by the FBI (their link is included below). It is
spreading fast...so be prepared should you get this call. Most of us
take summons for jury duty seriously, but enough people skip out on
their civic duty that a new and ominous kind of scam has surfaced.
claims to be a jury coordinator. If you protest that you never
received a summons for jury duty, the scammer asks you for your
social security number and date of birth so as to verify the
information and cancel the arrest warrant. Give out any of this
information and bingo your identity just got stolen.
The scam has
been reported so far in 11 states, including California, Oklahoma,
Minnesota, New York, Illinois, and Colorado. It is particularly
insidious because intimidation is used over the phone to try
bullying people into giving information by pretending to represent
the court system. The FBI and the federal court system have issued
nationwide alerts on their web sites, warning consumers about the
information check it out here:
What Does Housing Crisis Concern Mean
A consulting firm in Chicago, the Spectrem Group, reports that
until August, U.S. residents with more than a $1 million in
investment assets were shrugging off worries about the housing
crisis. But now the rich too have caught the property jitters, with
43% saying it is their biggest investment worry, up from 9% in May.
Their concerns are valid...the S&P/Case-Shiller index of U.S.
home prices plummeted more in the second quarter than at any other
time in the past two decades.
What does this mean for the economy? Government statistics show
that those in the top income quintile account for 39% of all
consumer spending, which in turn has driven 70% of gross domestic
product (the value of all the nation�s output of goods and
If the rich pull in their horns, fretting about the value of
their real estate, it could have an outsize/negative effect on the
economy, which would be bad for everyone.
In the past, however, recessions have historically been a boom
for the barter industry...as companies of every size and description
seek the additional business from trading to overcome the slowdown
in the cash marketplace.
Expert Contends Housing Recession More Severe Than People Realize
Ivy Zelman, 41, a former housing analyst at
Credit Suisse, warned about the housing crisis months before the
downturn. Now on her own, as head of research firm Zelman &
Associates, she sees this recession in housing as more severe than
the 1990 and 1991 downturn and believes it could have a much broader
impact on the economy than people realize...lasting longer in
duration and causing the consumer to �roll over.�
Zelman was one of the first Wall Street
analysts to question bullish home builders, showing concern over the
flood of speculators buying new homes and the problems posed by
In 2006, The Wall Street Journal ranked
Ms. Zelman the top homebuilder analyst in their �Best on the Street�
survey. Prior to working at Credit Suisse, she worked at Salomon
Brothers focusing on housing.
Rating Real Estate Gurus
Real estate investor and newsletter publisher
John T. Reed, keeps tabs on the many leaders of real estate
seminars...those gurus who supposedly have the answers and ways to
reach real-estate riches.
But Reed contends that the real estate
information business is presently dominated by people who push their
seminars and mentoring services out of boiler rooms�and most don�t
provide the content promised. In the �60s and �70s, he says all were
legit and sincere, although admittedly, some were better than
If you�re looking for information on the
current real estate purveyors of seminars, Reed, who is based in
Alamo (CA), lists and rates more than 130 real estate and financial
gurus on his web site
Continues To Push Distribution, Barter Plays Role
Football League continues to spread its footprint across more
networks, signing a deal with Ion Media for a weekly one-hour �NFL
Game of the Week� every Saturday at 6 p.m. through January.
TV-station group that reaches 93 million viewers, is the second
network deal engineered by the NFL in the last month. A weekly
prime-time series called �NFL Network: Total Access� runs every
Saturday evening from 9 to 10 on MyNetworkTV through the end of the
Ion will pay
the NFL an undisclosed license fee for �NFL Game of the Week� and
will keep all of the advertising time in each telecast. It will also
run promos for the NFL as part of the arrangement. The MyNet
contract is more of a barter deal, in which the NFL doesn't pocket
any cash but instead gets some 30-second spots to sell in the �Total
NFL Films will
also produce 21 episodes of a new half-hour series for Ion called
�Stories of the NFL,� consisting of profiles of players and what
their lives are like off the field. It kicks off in February 2008.
Burgess, CEO of Ion Media Networks, and Howard Katz, chief operating
officer of NFL films, negotiated the contract.
The Easiest $100,000 You�ll Ever
Bring To The Bottomline!
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:
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.
confidential introduction contact Bob Meyer via e-mail:
(Please type in AV Services On Trade in the subject
line of your e-mail.)
Attention Trade Exchange Owners:
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.
How To Get More Sales In
Our street-smart restaurant
marketing report shows proven ways to rapidly boost your
restaurant�s sales & profits.
Our Web Site Has A Search Tool For You
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At the top
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type in the name of a subject, company, or person. Then (2) click
the button www.barternews.com to search the site, followed by (3)
hitting the search button.
The Growth and Use of Secondary Capital (New Money) Creates
Unprecedented Wealth In Today�s New Age Of Possibility
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...
New Money-Making Ideas And Valuable Contacts!
You can obtain
useful, informative ideas and contacts in every available back-issue
barter company in the world is listed on our web site,
click through to our Global List
of Barter Companies.
A Gift To A Friend Or Associate.
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