IMS Barter Members Generate Record
Numbers At Holiday Expos
direct contrast to the cash economy, International Monetary Systems
(OTCBB: INLM), a worldwide leader in business-to-business barter
services, reported record attendance and sales volume at last week’s
holiday barter expos held in Milwaukee (WI), Columbus (OH), and
Rochester (NY). The expos are the first in a series of fourteen
events held in IMS Barter marketplaces across the United States in
November and December.
fully expected an increase in member attendance and trading, but
even our own estimates were low. In the Milwaukee office alone, we
reached $905,000 of sales in five hours of trading, and shoppers and
vendors filled nearly 25,000 square feet of the Milwaukee Sports
Complex,” declared John Strabley, executive vice president of IMS.
“Using traditional barter-industry accounting, the combined total of
sales and purchases was $1.8 million.”
Dale Mardak, IMS’ senior vice president, added, “We believe this is
a direct result of the growth of the IMS Barter membership and the
shrinking of the U.S. economy. We are proud to provide a way for so
many people to still enjoy buying and selling in an otherwise gloomy
economic environment. More and more businesses are realizing that
when cash is tight, there is another currency they can use - the
currency created when they barter their goods and services through
company projects that the remaining expo events will yield similar
more information on IMS go to
Attention Trade Exchange Owners. . .It’s GROW OR GO!
The magic bullet for growth is sales, always has been and always
will be...yet the industry’s overall growth is anemic. Why? Maybe
it’s because we’re not providing on-going education about our unique
way of doing business. Knowledge is always a pre-requisite to taking
And for those newcomers, the lifeblood of an exchange, awareness of
and understanding about the value of trading is even more important.
If you expect prospects to come aboard and your members to be more
active traders, but you are perplexed when the results are less than
you desire...there’s a good reason. You must continually educate
and motivate every month--month after month after month!
Such action is necessary because, let’s face it, more cash business,
not trade, is of paramount importance to your members. You must
break through this “cash only” focus and redirect their thinking
toward barter. Although most exchanges don’t see the importance of
doing so, many industry leaders are taking action and so can you.
As the owner of your own operation, there is an easy and
inexpensive solution for moving forward...look
into using The Competitive Edge newsletter. It’s a
camera-ready, 4-page, professionally written, informational
marketing tool...available in PDF format as well as print. So
regardless of how you reach your prospects and clients, you will
have the necessary vehicle.
Written especially for you, the busy trade exchange owner, I am
certain it will be the best investment you ever make.
For more information about The Competitive Edge, and how it
can benefit you
ITEX Corporation Announces Credit
ITEX Corporation (OTCBB:ITEX), a leading marketplace for cashless
business transactions in North America, has announced that the
credit facility with its primary banking institution had been
ITEX and U.S. Bank entered into an agreement to increase the
maximum loan amount under its revolving credit facility from $1
million to $1.5 million, to lower the interest rate of the facility,
to remove certain borrowing base limitations, and to extend the
maturity date to November 30, 2009.
Steven White, Chairman and CEO, noted, “ITEX continues to
position itself to take advantage of opportunities that may present
themselves in the current chaotic financial and difficult business
environment. Although there is currently no outstanding balance
under this line of credit and we have no immediate plans to use it,
we felt it prudent to increase our access to additional capital. We
may use the line of credit to finance short term working capital
requirements, initiate new revenue-generating projects or to pursue
Timothy J. Flynn, Vice President of Commercial Banking for U.S.
Bank, commented, “We are pleased with ITEX's continued financial
performance and overall success during the last five years, and look
forward to expanding our long-term relationship with ITEX
For more information visit
Proposed Shareholder Control Act
Urged By Mentor Capital CEO To Avoid Repeat Of Economic Crisis
(The following is an extension of remarks made by Mentor
Capital, Inc., CEO Chet Billingsley, in a DEX.TV interview on the
future solutions to the economic crisis given on November 19, 2008.)
Unfettered self-interest is at the core of the nation’s
regrettable economic circumstance. Politicians curried constituent
favor by pressuring for non-economic lending. Executives increased
personal reward by making outsized bets with corporate assets.
Winnings were substantially pocketed by management, without reserve
for the inevitable organizational risk.
The nexus of the problem is that the boards of directors did not
intervene to prevent these overreaching missteps. It takes
considerable chutzpah to lean in against the well-parsed
wishes of a Chief Executive. It is not surprising that, with few
laudatory exceptions, boards are not up to the task. The norm is
that directors are recruited, nominated, compensated and loyal to
the CEO first, and to shareholders second.
Congress and regulators have attempted to protect shareholders by
requiring that certain types of directors be included on major
public boards. We have seen that directing the fox to recruit his
responsible friends to guard the hen house has not, and will not,
bring us safety. Congress is likewise limited as a political animal
that would find it impossible to manage by optimal economics alone.
Fannie Mae, Freddie Mac, 80% labor cost at the U.S.P.S. vs. 40%
at FedEx, a typical 30% toll for the troll, and the world-wide
history of failed directed economies gives pause to any intelligent
thought of government supervision, except by those egos eager to
Owners, on the other hand, are the one group that has sufficient
vested interest to push back against any improper tide. Nothing
quite focuses the wit and will like having a large sum of your own
money on the line. The long-term solution to irresponsible risk
taking with corporate assets, excessive executive compensation,
insular boards, and a plethora of similar complaints is to align
theory and practice.
Make directors, and hence, boards, wholly answerable to the
shareholders, through the nomination process. Simply put, require
directors to be nominated by real person shareholders, and allow
only one directorship per person or related group in any one
This does not seem like such a change, but it is a seismic shift.
It will cause lesser CEOs to no longer be kings in their castle. It
will need to be legislated, but can proceed without more than token
cost. The legislation would be as follows:
Proposed Shareholder Control Act Of 2009
In order to promote better corporate responsiveness to
shareholder interest, the nomination of directors for any public
company for all board positions to be filled after July 1, 2009,
shall be by the following process:
There shall be no fewer than three (3) directors,
2) For each director, two (2) nominations shall be required,
3) The largest shareholder may nominate one (1) director nominee,
which may be themselves, if they are a natural person,
4) If not a natural person, the largest shareholder entity will
direct the invitation to nominate to its largest natural person
5) Any one natural person may only be the designee to nominate
for one public company at a time from each such entity in #4 above,
6) When the first nominee for director is submitted, the second
largest shareholder will be asked to nominate one (1) director by
the procedure above, repeated until all nominations are filled,
7) No person, or group of economically related persons, may hold
or be nominated for more than one (1) directorship at any one public
The proposed Shareholder Control Act of 2009, will shift control
to owners, rather than reserving it to managers under the
supervision of regulators. Real owners of assets don’t take undo
chances with their own money. Tapping this natural force of vested
self-interest can and will prevent a repeat of the plethora of
disastrous decisions that led to a wasting of untold economic value
during these recent times.
We encourage Congress to pass the proposed Shareholder Control
Act of 2009, immediately, to bolster confidence in the Nation’s
long-term commitment to private ownership.
Chet Billingsley is the Chairman & CEO of Mentor Capital (Symbol:
MNTR) that invests in hedge funds and smaller companies. The firm
has no debt and no exposure to the financial, sub-prime or real
estate sectors. Information on the firm may be found at
(Disclosure: Bob Meyer owns stock in Mentor Capital.)
International visitors look for BARTER CONTACTS in our Global Barter
Section. If YOUR exchange isn’t listed see the forms on the lower
left of the page. (Click
Attention trade exchange owners...thousands of visitors every month
visit our BARTER CONTACTS section on our web site where we have
names & addresses of barter companies in the USA. If YOUR exchange
isn’t listed, or the information is incorrect, you can correct the
situation by using the forms to the lower left of the USA map. (Click
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