Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Bentley Acquires Crump Barter, the Largest Barter Network in North America with 180 Local Exchanges and 50,000 Merchant Members.


Business Editors

LOS ANGELES--(BUSINESS WIRE)--Sept. 3, 2003

Bentley Communications Corporation (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:BTLY) has acquired the assets of Crump crump  
v. crumped, crump·ing, crumps

v.tr.
1. To crush or crunch with the teeth.

2. To strike heavily with a crunching sound.

v.intr.
 Barter barter: see exchange.
barter

Direct exchange of goods or services without the use of money or any other intervening medium of exchange. Barter is conducted either according to established rates of exchange or by bargaining.
 Systems Inc., with its predominantly North American North American

named after North America.


North American blastomycosis
see North American blastomycosis.

North American cattle tick
see boophilusannulatus.
 network of 180 local barter exchanges barter exchange barter nTauschbörse f  and approximately 50,000 merchant members that trade through them. Joe Crump will be on the Bentley executive staff and manage its barter operations.

Crump's growing membership represents approximately 30 percent of the barter exchanges in the USA and about 50 percent of those in Canada. It was founded in 1998 to bring efficiencies to the barter industry by providing a clearinghouse through which members of different barter exchanges worldwide can make available each other's inventory and services and trade seamlessly with one another. Bentley has historically focused on the implementation of alternative financial systems and ecommerce services. It recently announced its intention of being a major force in the barter industry.

"We feel, as do many knowledgeable barter professionals, that Crump Barter is the best positioned company within the industry," said Gordon Lee Gordon Lee may refer to:
  • Gordon Lee (footballer) (1934–)
  • Gordon Lee (congressman) (1859–1927), U.S. congressman from Georgia
  • Gordon Lee (politician), Canadian MLA from Athabasca
, Bentley's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Most important, we will be getting the Crump Barter team's expertise, and Joe Crump, one of the most highly regarded executives in the industry, to manage our barter operations. We see this as the first in a number of compatible acquisitions we anticipate completing in the following months that will position Bentley for extraordinary growth in the barter industry."

"A key characteristic of the barter industry, is the multitude of local and regional barter exchanges throughout the U.S. and Canada that provide valuable intermediary services to the companies engaged in barter," said Mr. Lee. "A great many of them are already part of Crump Barter Systems. We want to increase the number exchanges within our system and empower them with our forthcoming state of the art, user-friendly, online software that will allow for integrated real-time transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time.

Transaction processing systems are the backbone of an organization because they update constantly.
 for barter dollars and a variety of currencies and payment methods."

"By joining with Bentley," said Mr. Crump, "we will have the resources to rapidly increase the size of our network, better assist our local exchanges to profitably grow and encourage our member companies to use our barter system on a regular and expanding basis. We also want every barter exchange that is part of our network, to have an ownership stake in our company. That is why each of our exchanges in good standing will receive Bentley restricted shares for loyalty and performance. They will be rewarded with additional restricted shares in the future, based on the attainment of objectives, such as barter volume increases and expansion of their member base."

"With the acquisition of Crump Barter, we have taken a major step, that should propel us towards establishing the nation's largest and most efficient online barter marketplace," concluded Mr. Lee. "We see barter as the most extraordinary online business opportunity today and for the foreseeable future. We want to do for barter what eBay (Nasdaq: EBAY) is doing for auctions. We want to be the catalyst that helps raise the domestic trade and barter industry to unlimited heights."

About the Barter Industry

The International Reciprocal Trade Association estimates that just in the U.S., over 470,000 companies actively participate in barter for a total of over $12 billion in annual sales. Over 65% of the corporations listed on the New York Stock Exchange New York Stock Exchange (NYSE)

World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City.
 are presently using barter to reduce surplus inventory, bolster sales and ensure that production facilities run at near capacity. The U.S. Department of Commerce estimates that 20 to 25% of world trade is now barter, and corporate barter is already a growing 20 billion dollar worldwide industry.

About Bentley Communications Corporation:

Bentley is positioning itself to be the domestic leader in the fast growing trade and barter industry. Bentley has historically focused on the implementation of alternative financial transactions and ecommerce services. In barter it has an ideal opportunity to apply its proprietary systems to enable barter exchanges, and the companies that barter through them, access round the clock to a user-friendly, online trade exchange -- tailored to their needs. A prime focus is to bring instant payment processing to the barter industry so that any merchant member will soon be able to transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting  trades online and in real time, whether it is credit, debit or ATM cards An ATM card (also known as a bank card, client card, or cash card) is an ISO 7810 card issued by a bank, credit union or building society.

Its primary uses are:
, barter dollars, cash or a blend.

Forward-Looking Statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
:

With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see the company's website(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king.  database system.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Sep 3, 2003
Words:834
Previous Article:Multimedia Available: New Book: Nontoxic CEO Helps Industry Reduce Chemicals, Protect People, Save Money.
Next Article:Medical International Technology Signs Distribution Agreement Valued at U.S. $1.2 Million for Its AGRO-JET Needle-Free Injectors In Japan.



Related Articles
Bartering bonanza.
Not Your Ancestors' Barter.
Bentley to Acquire Crump Barter, the Largest Barter Network in North America with 180 Local Exchanges and 50,000 Merchant Members.
Bentley to License Exclusive North American Rights to VirtualBarter, the Barter Industry's Foremost Software.
Bentley Communications Corp. Makes Rapid Progress Toward Becoming the Online ``Market Maker'' for the Multi-Billion Dollar Barter and Trade Industry.
Bentley Communications Corp. Announces its New Name, Approval of Purchase of Crump Barter Network, Strategic Business Plan and Election of Directors...
Bentley Communications Corp. Signs Exclusive License for Crump Barter Systems, Inc. Business Methods.
Bentley Commerce Corp. Launches New Name and Trading Symbol.
Quid pro quo: bartering is a cashless alternative to conducting business.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles