Word: tradings
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...businesses battle to get through the recession, more and more are turning to third-party-exchange networks like Bartercard. According to the International Reciprocal Trade Association, the industry trade body, more than 400,000 businesses transacted $10 billion globally in 2008 - and officials expect trade volume to grow by 15% in 2009. Bartercard, the world's largest exchange network, is leading the charge. So far this year trades through its network are worth more than $2 billion, up by 20% over 2008. Founded in Australia in 1991, when the country was mired in recession, the firm now does business...
...interest-free line of credit - also provides security and accountability that informal bartering can't. Members must pass a credit check and sign a contract pledging to deliver goods in a timely manner. In terms of barter rates, a service that costs $600 is equivalent to 600 trade pounds; members constantly police one another, ensuring that their advertised barter rates match the rates they charge the public. (See 10 ways your job will change...
...that trading means more profit for Bartercard. The privately held company charges a one-time membership fee - $1,200 to $2,400, depending on the size of the business - and a 5.5% cash and 1% trade fee on each transaction. Sharpe is confident the firm will continue to expand even as the economy improves. "Companies will need to hire new staff and restart advertising and marketing campaigns which they pulled during the recession," he says. "Bartering frees up cash for that." It's a concept he obviously believes in: the firm uses its trade credits to pay the rent...
...work and the record, including my calling on the auto industry to take "bold, serious and visionary" steps on fuel economy and my role in passing 2007's Energy Independence and Security Act, which increased fuel-economy standards 40%. I will continue to fight currency manipulation and unfair trade practices by our foreign competitors, work for affordable health-care coverage and reduce greenhouse-gas emissions 80% by 2050 because I believe those positions are in the best interests of the people of Michigan...
Read "India Launches a Toy Trade War With China...