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November 15, 2011

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 11/15/2011

Kudos To Stephen Webster

Last week in this space we noted that Michael Mercier had held the position of �President� in both industry associations ... the International Reciprocal Trade Association (IRTA) and the National Association of Trade Exchanges (NATE).

There is another distinguished industry veteran who also served as president of both IRTA and NATE � Stephen Webster. Webster played a key role in the creation of the �Certified Trade Broker� program, as well as being a member of the IRTA Barter Hall of Fame.

�Capacity Trade and Credit� Seminar Scheduled In London

The city of London has sent out invitations to various business entities regarding their sponsored seminar on Capacity Trade and Credit, scheduled on December 8 this year. Follow-up details on the seminar will be reported.

IMS Barter Holds Historic Barter Expo

According to Don Mardak, founder and CEO of IMS Barter, this year�s Milwaukee-area Barter Expo held at the Milwaukee County Sports Complex was �the biggest and best show we have ever had.� The huge venue, which houses four indoor soccer fields, provided ample space for 250 exhibitors.

In excess of one-thousand IMS Barter members attended the record-setting event which included an auction of six cars, 12 big-screen TVs, and a new motorized fishing boat with trailer. FOX television covered the Expo, and it aired across their national network. Reportedly, nearly $2 million of products were moved at the event.

Franchisers Expanding Their Horizons

The International Franchise Association�s recent survey shows that nearly 85% of 150 U.S. franchisers � including chains with fewer than 50 locations nationwide � said they planned to start or accelerate international operations within the next few years. Why? Because outside the U.S. financing is easier and there�s a hunger for American offerings.

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Economics of Land Investment Turning

Residential land values nationwide in the U.S. have fallen nearly 70% since peaking in the second quarter of 2006, according to a report by the Lincoln Institute of Land Policy, a Cambridge (MA) think tank. Meanwhile the value of U.S. cropland (excluding Alaska and Hawaii) rose close to 20% between 2007 and 2011, according to the U.S. Department of Agriculture.

The demand for farmland is being fueled by rising prices for everything from corn to cotton. And we�re seeing situations where farmers are buying back, at much lower prices, the land they had previously sold to land developers.

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IMS Files Third-Quarter 2011 Report

International Monetary Systems (OTCBB:ITNM), a worldwide leader in business-to-business barter services, recently filed its Third-Quarter Report for 2011.


         Cash provided by operations was $934,592 in 2011, compared to $404,525 in the first nine months of 2010, a 131% increase.

         During the current year, they completed the purchase of two trade exchanges, one in Peterborough (Ontario) and one in St. Louis (MO), adding approximately 900 members. It is expected that the additional offices will be immediately accretive.

         During the current year, selling, general and administrative costs were reduced by $679,030, or 20.3%.

         The company has begun the process of registering in a number of states to offer IMS franchises.

Shareholders Return

Management and the board of directors feel that the company stock is significantly undervalued, presenting an attractive opportunity to reinvest. In the first nine months of 2011, the following steps were taken to position IMS to take advantage of this opportunity:

         The board of directors approved increases in the amount of stock that is authorized to be repurchased, granting management discretion to buy back company stock at up to $4.00 per share.

         Financing was secured at attractive, flexible terms to allow for repurchase of shares without hindering operating cash flow.

         1,528,078 shares of IMS stock have been repurchased so far this year under the stock purchase-back plan.

         2,319,611 shares of Treasury stock have been retired through September 30, 2011, reducing the number of outstanding shares to 8,298,189.


During the quarter ended September 30, 2011, International Monetary Systems generated revenues of $3,204,786, a decrease of $505,233 or 13.6%, compared to the third quarter of 2010. This decrease is almost entirely due to decreased trade dollar revenue, including a large non-recurring transaction in its media/corporate barter division which provided approximately $240,000 in trade dollar revenue in 2010.

Operating expenses in the quarter were $3,015,484, a decrease of $497,257 or 14.2% compared to the third quarter of 2010. This decrease is comprised of $95,000 of decreased occupancy expenses, a decrease of $160,000 in legal and professional fees, $42,000 less provision for uncollectable accounts, and $50,000 less investor relations costs.

The net operating income was $189,302 for the quarter, compared to net operating income of $197,278 in the third quarter of 2010. After adjusting for interest and income taxes, net income for the current period was $105,490 compared to a net loss of $(37,642) in the third quarter of 2010.

For more information on IMS click here.

Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company�s listing on isn�t current, you are definitely missing out on new business. The web site receives heavy traffic � with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly �Tuesday Report,� and the �Contacts Section� of our site. They use the latter to find barter companies with which to do business.

Is your barter company�s listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company�s listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here�s how to get on board:

To make changes to your listing click here.

For new listings click here.

Retail Spending Rises

U.S. consumers stepped up their spending on retail goods in September, an encouraging sign for the sluggish economy. But don�t break out the champagne as consumers still have many problems, according to senior economy analysts.

The recent gains were broad-based:

         Department store sales increased 1.1%.

         Big-box merchandise stores showed a 0.7% increase.

         Specialty clothing stores sales rose 1.3%.

         Sales were up 1.1% at furniture stores, but edged down a slight 0.1% at hardware stores.

         Gas station sales rose 1.2%.


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Cut The Noise & Cut To The Chase!

If you don�t think that our society is experiencing a communication overload, you really are living under a rock. We can (over)share every aspect of our lives in real time via social media. We can record all of the ups and downs of our personal sagas through blogs. We can call or text anyone at any time.

And the communication avalanche doesn�t exist just in our personal lives. Today, it�s a lot easier to get in touch with coworkers and ask them for information whenever and wherever you need it. And you can share every detail of your current project with your boss just by clicking �send.� We�re much better off than we were 20 years ago, right?

Well, maybe not. According to OfficeMax cofounder, former CEO, and serial entrepreneur Michael Feuer (pronounced �Foyer�), innovations in communication sometimes make it more difficult to get the point across.

�Since we can say as much as we want in multiple forums these days, almost everyone � including businesspeople � provide TMI (too much information) in their exchanges,� points out Feuer, author of the new book The Benevolent Dictator: Empower Your Employees, Build Your Business, and Outwit the Competition. �In many organizations, the art of cutting to the chase has been lost.�

Feuer knows what he�s talking about: he has been involved with launching a number of business ventures, including OfficeMax and Max-Wellness, a recently launched only-one-of-its-kind health and wellness retail chain concept.

The lessons he�s learned have convinced him that a great leader�s management style should mirror that of a benevolent dictator, which is not as scary as it sounds. Because at the end of the day, the �dictator� side of you calls the shots and makes the difficult decisions, but your �benevolent� side does so while putting the interests of the organization and your customers ahead of your own. And part of being a benevolent dictator is requiring clear, concise communication at all levels, so that key decisions can be made quickly and effectively.

�Before today�s instant transmission of words and numbers by lightning-fast speed, you had to talk to your boss in person, on the phone, or in a hard copy report,� Feuer explains. �In all of those formats, it was in your best interest to get to the point quickly. These days, though, there are e-mail in-boxes, shared calendars and documents, instant messaging programs, and much more. Employees can send a constant stream of information to others � and that�s a problem that�s bleeding into face-to-face interactions, too.�

If you�ve ever asked an employee or a coworker a basic question and gotten an e-mail that took you 15 minutes to read and answer that should have taken 15 seconds, then you know what Feuer is talking about. �Your team members may want to provide you with excessive detail in the hope that you will recognize them as the ultimate experts on various topics. However, you must let them know that a succinct response is much more valuable.�

To encourage more concise and effective communication in your organization, consider Feuer�s tips:

Be clear about what you need. The first step in encouraging concise communication is to be straightforward about what you need. In other words, if you don�t want to read between others� lines, don�t force them to do so with you. Remember, though, that one size doesn�t fit all, so you may have to infuse your cut-to-the-chase request with humor or compliments to soften the message � or you may have to resort to the �ton of bricks� approach!

�When someone is giving me way too much information, I politely interrupt and tell him that I recognize him as an expert on the subject matter being discussed,� Feuer shares. �Then I say that since I know it�s a given that this person knows his stuff, I merely need a short sound bite. Usually, this strategy soon leads to more frequent one- or two-sentence summaries. If it doesn�t, well�that�s when the ton of bricks comes in!�

Overhaul voice mail and e-mail. If someone is consistently wordy with you, odds are that person is loquacious in most other situations, too. Asking her/him to put the bottomline upfront when reporting to you is a good first step, but you must be sure that person is applying this lesson to other aspects of the workday. A good place to start is with voice mail and e-mail, since these forums are used frequently throughout the day.

�Survey your team members� current responses for their business e-mail and telephone messages, and prepare to be shocked by the content and length!� Feuer advises. �Then supervise the shortening process. You may even have your HR or PR department provide brief scripts for employees who have trouble keeping their messages short. Each script should be tailored to the person�s job function and provide an alternate contact for emergencies. I think you�ll find that your team appreciates the scripted assistance, because it gives them one less thing to worry about.�

Talk through conversations. Now that you�ve tackled e-mails and recorded messages, it�s time to move on to something a little less predictable: conversations. While you can�t control every word that comes out of your team members� mouths, you can establish standards of what is appropriate. Tell them that brevity and clarity are key, and point out that these things will set your organization apart from the competition. After all, clients and callers will appreciate the chance to do as much talking and question-asking as they want.

�Also consider asking your employees to end all conversations and messages with a tagline that expresses your organization�s best attribute,� suggests Feuer. �Some tried-and-true examples are �Your satisfaction is our number-one priority,� and �Getting to the point makes us better.� At Max-Wellness, our branding tagline is simply �Be well.� I�ve found that clients respond better to these than gratuitous endings like �Have a stupendous day.��

Get frequent updates from key people. (Simply put, micro-manage.) Somewhere along the line, micro-manage has become a bad word. It conjures up images of bosses who can�t delegate, who don�t trust their team members, and who don�t give employees room to do their best work. No, you shouldn�t do your team�s work for them, but according to Feuer, you should get regular (and of course, succinct!) updates from key people. These fast-and-frequent communications allow you to keep your finger on your organization�s pulse.

�When you know what�s happening in real time, you can accelerate your organization�s growth and prevent garden-variety problems from snowballing into disasters of Biblical proportions,� explains Feuer. �During the first 18 months of OfficeMax, I required every store to call my home seven nights a week to give me sales figures, which I recorded in a ledger. This ritual helped me to manage our growth by knowing our daily cash-flow, with an emphasis on accounts payable down to the last few dollars. This protocol not only accelerated our growth but set a management style for executives to operate in a similar know-what�s-happening fashion. Don�t underestimate the importance of remaining aware of the flow of factual information!�

Use your negatives sparingly. Say you�re telling your team everything they need to know, but you still aren�t getting the results you want. What gives? Well, the problem might lie in how you�re delivering that cut-to-the-chase sound bite. Think about it: how many of your announcements start with a negative, followed by a litany of unpleasant consequences? (For example, �If we don�t increase sales next month, we�ll have to start letting people go.�)

�Many leaders think that this style is more forceful and expedient, but it�s actually counterproductive,� says Feuer. �If you make too many of these negative announcements, your employees will be motivated only by fear and desperation � at least in the beginning. As time goes on (and presumably, a majority of your threats don�t come to pass), your team will come to see you as a knucklehead, and they�ll start to ignore your message altogether.�

Look in the mirror. The Golden Rule � �do unto others as you would have them do unto you� � definitely applies to leadership and business. It�s always a good idea to treat your team as participants and partners in whatever you�re doing; not just as people to blame when something goes wrong. Remember that they appreciate appropriate amounts of respect and praise, and that they also enjoy being given credit for having the ability to grasp the obvious.

�If you�re not getting the results you want, you might be the problem,� Feuer shares. �Leaders, especially those nearer to the top of the organizational hierarchy, sometimes forget how it felt to be directed. Ask yourself how you�d want to be told to do something important. Chances are it wouldn�t be to do XYZ, or face dire consequences without any further explanation. When you�re open about what�s at stake and use a logical, positive tone, you�ll probably find that your communications take root and grow!�

Remember that the medium is the message. If you�re like most leaders, every minute of your day is more than spoken for, and you may tend to tell your team what they need to hear, regardless of the overarching circumstances. Despite your busy schedule, try to always keep in mind that the vehicle or venue you select to deliver your directive is just as important as the point itself. Good news should be presented in an upbeat setting, and more serious subjects should be broached in a setting that�s strictly business.

�Delivering a serious concern about sales would be an inappropriate announcement to make at an awards event, for instance,� says Feuer. �Knowing when to say the right thing will lend your message credibility and significance.

�Yes, there will always be some people who will require the ton-of-bricks approach when it comes to giving and receiving appropriate communication,� concludes Feuer. �But if you�re open about the level of succinctness that you want and model those behaviors yourself, you�ll find that most of your team will get on board quickly. And chances are, they�ll also be grateful that you�ve cut out all the background noise.�


Michael Feuer cofounded OfficeMax in 1988 starting with one store and $20,000 of his own money, a partner, and a small group of investors. As CEO, he grew it to more than 1,000 stores worldwide with annual sales topping $5 billion. He is also CEO of Max-Ventures, a venture capital and retail consulting firm, and founder and CEO of Max-Wellness, a comprehensive health and wellness retail chain launched in 2010.

For information about Feuer�s book The Benevolent Dictator click here.  

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