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October 17, 2000

Eric Jeck named CEO of BarterNet

Eric Jeck, a general partner with Wand Partners (the early investor in BarterNet), is the company's new CEO, replacing co-founder Laird Cagan who has served as CEO since BarterNet's inception. Cagan will continue to be BarterNet's chairman.

Jeck's objectives are to complete the assembly of the vast network--now the world's largest barter company--as well as to forge strategic alliances with large corporate partners and financial institutions.

Before joining Wand Partners, Jeck worked for Wasserstein Perella & Co., an international investment bank specializing in mergers and acquisitions. He holds a BS degree from University of Pennsylvania's Wharton School and a MBA from the Graduate School of Business Administration at Harvard University.


JustZero Views College Students As A Barter Community

A new company based in Boston is launching its site, JustZero.com, where members can buy, sell, and trade items in an interactive negotiating exchange.

The company sees college students as a viable market, and plans to offer specific college campus trading areas so students can avoid long distance trades and shipping costs. Students will simply click on their school name and enter their "campus room," which includes a bulletin board for local issues and events.

JustZero will also provide a list of schools within reasonable driving distance with directions for those students who can't find what they are looking for on their own campus.

Transactions are facilitated in the JustZero.com forum by negotiating deals using blends of cash, items, and "JustZero dollars" to balance uneven trades. Just Zero Dollars can be earned on the site, and used when negotiating deals or "cashed in" for items from the JustZero prize gallery.

The company's founders, CEO Drew Sharma and Justin Montanino COO, met while attending Boston University. Living in cramped dorms and short of cash they found that barter solved both problems, and then decided to extend their solution to the general population through their site which is dedicated to facilitating online trades.


Quality Merchandise Coming Into Barter Marketplace

More quality merchandise continues to show up on the barter industry's trading networks, i.e. IRTA's "Universal Currency" and NATE's "BANC."

Last week, for example, 22 rooms of complete "like new" hotel furniture was pulled from a 5-Star NYC hotel and available at $3,500 BANC credits per room. Inasmuch as the original value of the furniture was $15,000 per room, it shows that deflation in the barter marketplace does exist from time to time. Acquisition of this very high-end furniture by a hotel, b&b or smaller inn, on a traded basis in exchange for unsold rooms, reinforces the incredible profit possibilities of barter.

$6.5 Million Yacht Available

Another BANC offer was the "Ocean Star" commercial yacht. Appraisal based on Lloyds marine standards was $10 million, and the asking price is $6.5 million...with all but $750,000 in trade. Complete specs and photo at www.virtualbarter.com


Here And There. . .

  • EquipNet Direct is looking to provide "unprecedented efficiency" to the $30 billion asset management and recovery industry. The company's principal offering is ARMS (Asset Redeployment Management System), proprietary software that enables clients to track, identify, and internally redeploy idle and surplus assets. And if the equipment is not redeployed internally after a predetermined period of time, it is seamlessly transferred from ARMS to EquipNet's MarketPlace, www.EquipNetDirect.com, for external sale.

  • Yahoo's third-quarter earnings were better than expected, jumping to $81.1 million...10% of their revenue resulted from barter advertising agreements.

  • Jupiter Communications expects traditional firms to boost their advertising on the Internet. As they do, Jupiter says, these traditional firms will more often barter their off-line assets (for the cash component) in deals with internet media and services firms.

    An example of this was Target, the No. 4 U.S. retailer, and America Online's recent joint venture where-in marketing and promotion initiatives are an important part of their multi-year strategic alliance.

    CD-ROM's, featuring a special edition of the AOL service, with co-branded features and packaging, are now available at Target stores nationwide.

    The special edition gives Target customers the ability to easily sign up for AOL service, with 500 free hours online in a month. And AOL members who subscribe through Target receive a 10% discount for up to one year on merchandise purchased at Target.com which is now available on ShopAOL.

    It's a winner for both companies: boosting AOL's subscriber growth while improving Target's online sales presence.

  • Giving the OK to LodgeNet Entertainment to install movies on demand, internet services, and Nintendo video games brought Hilton Hotels Corporation (owner of Doubletree and Hilton Hotels) warrants to purchase 2.1 million shares of LodgeNet Entertainment's common stock...which would give Hilton a 13% stake in the company.

 

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