Written by Bob Meyer, Editor of BarterNews

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ITA Fete's Top Traders In Chicago

North America's largest independent trade exchange, Illinois Trade Association, hosted a lavish Awards Luncheon for its top traders. An impressive group of some 300 entrepreneurs-business owners from the Chicago area-came together at the Bristol Court Banquet.

It was a fitting tribute to valued members by Jack Schacht, one of the commercial barter industry's most successful entrepreneurs, and his partner Joan Varner. From their part-time efforts, on a kitchen table in 1983, they've built ITA into a 6,000 member trading powerhouse!

Printed programs were provided to the luncheon attendees, with every esteemed company named. At the top of the program were the eight companies that traded (sales only) more than a million dollars last year, followed by the thirty-three companies trading at more than $500,000 each. The remaining 390 companies listed traded a minimum of $100,000, with an average of $255,000 per company. Each company was presented with a beautiful 16-inch, pyramid-shaped etched glass award.

Keynote speaker was Bob Meyer, publisher of BarterNews magazine. He crafted his message for the powerful traders by talking about ten world famous business moguls who have used barter in a variety of ways to build their wealth. Meyer's succinct message was: The biggest, the best, and the brightest among us barter.

It was an exciting networking event for these exceptional traders, and promises additional growth for the forward thinking ITA. Businesses in the greater Chicago area can obtain more information on ITA by calling (847) 588-1818, or checking their web site at www.illinoistrade.com.

Editor's Note: One of the ten examples of world famous business moguls talked about at the ITA Awards Luncheon was Donald Trump, and the trade he consummated with General Electric's pension fund when they acquired the former New York City headquarters of Gulf & western, eight years ago. After a fabulous redo the building was renamed the Trump International Hotel and Tower. (Interestingly, the furnishings are now being replaced, having been deemed too weathered for the superglossy Trump image. Scott Zawitz, owner of Fort Pitt Furniture in Chicago now has the eight-year-old accessories.)

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International Monetary Systems' CEO, Don Mardak, Outlines Plans

The International Monetary Systems (OTCBB:INLM) stock split went into effect April 20. The company's plans to consolidate the barter industry can be heard on www.ceocast.com, a popular web site for investors and investment professionals.

In the CEOcast interview with host Michael Wachs, Mardak discusses the company's past acquisitions and future plans for growth.

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TradeAmericanCard Announces First Annual College Scholarship Program

One of the oldest, most established trade exchanges in the country, TradeAmericanCard, will provide five students with a $1,000 trade dollar award. A letter of recommendation from a teacher, counselor, employer, or community leader will be part of the eligibility requirements.

The application form, listing special achievements as well as community involvement and employment or volunteer experience, will be part of the judging process in addition to a 500-word essay titled, "How barter has influenced my life, both business and personal."

Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.

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Here & There...

• Real estate auctions are on the rise: Sales exceeded $60 billion in 2002, up from $10 billion in 1980. There are 6,500 auctioneers selling real estate in the U.S., 100 of whom handle the majority of the sales. Most of the top ones are a Certified Auctioneers Institute graduate or an Accredited Auctioneer of Real Estate. (The web site www.auctioneers.org has a directory.)

• Is Iraq on its way to laying down entrepreneurial roots? The National Foundation for Teaching Entrepreneurship, a U.S. organization that both trains inner-city kids to open their own companies and runs educational programs in countries making the switch to market-based economies, is working in Iraq. Twenty Iraqi teachers have been trained, and in turn are putting thousands of Iraqis through 70-hour training programs.

  The Business Roundtable, an organization of U.S. business chiefs, has donated more than $2 million (from Pfizer, FedEx, Microsoft, et. al.) to help University of Baghdad's College of Administration and Economics. The school has been supplied with books, computers, and other needs...all with the goal of igniting a spark to small and medium-size businesses which will provide real growth in the country.

• Have you signed up to receive a summary via e-mail of the Tuesday Report every week? If not, go to the top of this issue (right hand corner) and sign up!

• In a previous issue we reported on the phenomenal success of the gift card bearing the Starbucks name. In the company's recent second-quarter profit report, the chain says it was the popularity of its gift card that has pushed profits, along with new store sales, to a 53% surge. The Starbucks Card redemptions accounted for net revenue of $138 million, up from $90 million a year earlier.

• Adults in the 50 and older bracket represent 79 million Americans, according to the Census Bureau. That number is expected to grow to 106 million by 2015, at which point it will account for 45% of the adult population.

• Amazon.com is now in the discount jewelry business. The firm will be selling merchandise from its own stock, and shipping from its own warehouses. This is a different business model than they've followed in the past when entering new areas (such as apparel, sporting goods and gourmet-food), wherein the retailers, not Amazon, handled the fulfillment.

• The forecast for global vehicle sales could exceed 60 million in 2004. If so, it would be the first time ever to hit that number!

• A recent DirectMarketingNews editorial laments the recent controversy and emphasis placed on the outsourcing of a few thousand telemarketing and other jobs to India.

  "Can't our politicians come up with something better to bicker about than a bunch of low-paying jobs that no one here wants as a long-term career anyway? Outsourcing has become such a touchy subject that the American Teleservices Association won't take a position on it, although the Direct Marketing Association has lobbied against state legislation restricting companies that want to take jobs offshore."

• Two-thirds of Americans—160 million people—are now toting wireless phones, nine times as many as a decade ago.