Word: barterer
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Dates: during 1980-1989
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...fastest growing trading organizations is Barter Systems Inc. of Oklahoma City. Founded five years ago by three men who had run small swapping clubs, the company now has 62 trading centers around the U.S. that arranged for $100 million worth of barters last year, up from less than $1 million during its first year of business. One Barter Systems missive to some of its 25,000 clients earlier this year: WANTED: $300,000 WORTH OF DRIED MILK OR CORNFLAKES, IN RETURN FOR AN AIRPLANE OF EQUAL VALUE. In another case, Barter Systems helped a tire company trade a jet airplane...
...month ago, Xerox offered to trade 200 desktop copiers worth about $800,000 for an array of goods and services ranging from forklift trucks to airline tickets for employees traveling on company business. As of last week, Barter Systems had traded half of the copiers for some of the things Xerox needed...
There is an element of suburbanite garage sale-flea market economic chic in the new bartering boom. Many traders admit to a strong pride in managing their lives with little money. Says Betty Cordell, 39, owner of a Barter Systems franchise in Atlanta: "I would not pay cash for a haircut, for cosmetics or dry cleaning, dental services, medical services or other costs of everyday living...
Inflation and high interest rates are the biggest spurs to bartering. "Barter is a booming business because of the economic climate," says Moreton Binn, 45, chairman and chief executive of Atwood Richards, Inc., of New York, the nation's oldest (1958) and largest bartering organization...
...fashioned bazaar bargaining has now been made easier by computers. The machines locate the parties that might be able to make a trade and then give money-like credits that can be used in future deals. Says James Blunt, vice president of marketing and sales at Barter Systems' six-month-old office in Stamford, Conn.: "We operate very much like a bank-a bank of goods and services instead of cash...