“Your big opportunity may be right where you are now.” -Napoleon Hill
With restructured management/advisory team, CPNE is positioned for growth going forward.
During the month of January, Commerce Planet (OTCBB: CPNE) beefed up its advisory board and management team with the addition of a number of seasoned e-commerce veterans.
For starters, the company appointed Mr. Robert DeSantis to the board. He is the former CEO and Billionaire of Ariba Inc (ARBA), Internet software and services industry powerhouse. Mr. DeSantis is currently the President of Transactional Media and Marketing for Maddocks, a branding and marketing firm located in Los Angeles. His historical client list reads like a laundry list of leading brands including Estee Lauder, Sony, Coke, Ketel One, Disney, Red Bull several hotels and many others.
In addition, Mr. Gary Palmer has been appointed to the Advisory Board along side Mr. DeSantis. Gary Palmer has a wealth of knowledge dealing with Automatic Clearing Houses and other prepaid card services. He has a long history of forging strategic relationships with multi-national companies, which has to be quite positive for CPNE’s future expansion. As Executive Vice President of Global Strategic Business Development for eFunds/EFD Mr. Palmer spearheaded a 10 year agreement with American Express, providing his company with exclusive processing rights to the largest prepaid card issuers in the world at the time for $229 million.
With both a marketing and business relations guru on board, why not add an IT leader?
Mr. Rory Roybal brings much welcomed IT experience to the table with 28 years experience in the field. He was recently named Vice President of Technology for Iventa, a Commerce Planet subsidiary, to take on the challenge of overseeing the company’s DashboardTM product line.
With his vast knowledge of Engineering, General Management and Product Development in disciplines such as global e-commerce, software, mobile-telecom, enterprise systems, networking and online business solutions, makes him a perfect fit for the position. Mr. Roybal believes that Iventa has a very unique product and with his expertise will be able to realize its growth potential as they begin to offer their small to medium size business packages. This is very positive for the future.
Net-Net
The addition of these three key advisors will give Commerce Planet the leg up that it may have been previously missing in the past to help become more competitive in the e-commerce world. Each new addition brings a unique skill set that can only be amassed through years of industry experience. With a new advisory board possessing more than 60 years of just that, Commerce Planet is headed into the New Year with a much stronger guidance than ever before. Only time will tell what results this most recent change have, but we are quite optimistic here due to the solid credentials of the new advisory team.
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The question is not whether or not the U.S. Federal Reserve Bank will cut its benchmark lending rate today, but if in fact the cut will have any impact on our wounded economy.
Whether the cut is .25 or .75 points – either of which would bring the rate to an all-time low, economists fear that the benefits simply won’t trickle down the consumer. Recent rate cuts have done nothing to boost the consumer credit market because given current economic conditions, the banks that aren’t going under find that issuing consumer loans at anything else than a premium is far too risky.
A great example of this is the current market for auto loans. Typically influenced by the prime rate, which was roughly 4%, Monday, the interest for a 48-month new car loan is 6.8%.
With Americans now hoarding their money and growing increasingly content with simply not losing their hard-earned greenbacks, the Fed may need to expend some of its “extra ammunition” in addition to its imminent rate cut to get consumers to start spending again.
So, what happens when the rate hits zero and its back to the drawing board for Big Ben and his crew? Here’s a great report written by Ben Bernanke himself on potential strategies for monetary policy when the key rate hits zero.
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