“BarterNews Played Major Role In Olympic Trade With Fortune 100 Corporation”
—Steven E. Webster, RTE Corporate Barter Group
In rearranging some files last week Bob Meyer came across the following letter dated July 25, 1996. As you will see BarterNews played an important role in a barter agreement in which the RTE Corporate Barter Group (now known as Alliance Barter) acquired 25 VIP Olympic corporate packages valued at $20,000 each—a $500,000 deal.
Prior to the meeting with the Fortune 100 client, Stephen Webster called us and asked for an overnight shipment of BarterNews issue # 37, which had just published a cover story on the role barter plays in the world’s most prestigious sporting event—the Olympic Games.
Here is the exact letter, word for word:
Dear Mr. Meyer,
BarterNews consistently provides valuable information on what is happening in the industry, which we at Barter Capital Corp. truly appreciate.
Last month’s cover article, “Barter Plays Major Role in the Olympic Games,” is an excellent example of useful and timely reporting. In fact, it could be stated that “BarterNews Played A Major Role in an Olympic Trade.”
On the heels of a barter agreement involving the exchange of domestic hotel accommodations for excess promotional inventory with a Worldwide Olympic Sponsor, Barter Capital* and RTE Corporate Barter Group** were invited to present a barter solution to the Corporate Sponsor’s Olympic Coordinator.
The Olympic Coordinator for this Fortune 100 corporation had been unfamiliar with barter, the advantages of trade, and the potential for recapturing revenues from pre-paid Olympic VIP trip packages.
The packages provided domestic round-trip airfare, first class hotel accommodations, private ground transportation, meals, event tickets, including highlights such as Gold Medal Events in Basketball (Dream Team), Diving, and Closing Ceremonies but they needed to be sold by a fast approaching deadline.
Your timeliness in publishing information on the variety of “in-kind” barter arrangements for products and services traded at this year’s Summer Olympics enabled Barter Capital to create a stronger interest in a barter arrangement.
BarterNews was an integral element in the success of our presentation and subsequent deal, providing credibility at just the right time.
Thanks to your generous exposition of the history of barter activities at the Los Angeles Olympics in 1984 through this summer’s Atlanta Games, another Olympic Sponsor is sold on barter.
Consequently, the Worldwide Sponsor will now realize the benefit of obtaining fine Commercial Printing in lieu of what almost became an unrecoverable expense.
On behalf of Barter Capital, RTE Corporate Barter Group, and those that seized the opportunity to “trade” for an occasion to witness a truly historical International Sporting Event hosted by the United States, we thank you and your staff for creating such a valuable marketing tool for our industry.
M. Van Wert, Vice President, Barter Capital Corp.
* Barter Capital Corp., Corporate Offices in Rochester, New York, specializes in strategic and creative financing by converting idle capacity and excess inventory into valuable AR Credit throughout the North East.
** RTE Corporate Barter Group, Inc., Corporate Headquarters in Rochester, New York, services over 1,800 member companies in Upstate and western New York and is a member of the North American Barter Group (NABG) and the National Association of Trade Exchanges (NATE).
Editor’s Note: We agree with Stephen Webster, BarterNews is a valuable marketing tool for the commercial barter industry. TradeAmericanCard orders 1,000 copies for its client base of every BarterNews issue, which is available in bulk quantity for your promotional and sales efforts.
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