CA-based Tranax Technologies has formed a Board of Directors including Wolfgang Hausen, Jack McDonnell Jr., Dr. Kathryn Hanson; Dr. Hansup Kwon and Heemook Kwon. The role of the newly-created board of directors will be to serve as a sounding board and counsel to help the CEO and executive team evaluate and respond to strategic business opportunities and challenges. The charter will also include accelerating the implementation of practices, people, and strategies needed to expand and grow Tranax. The five board members will serve for 3 years and will provide best practices related to corporate strategy, operations and general management. Tranax provides the design, development, manufacture and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries.
Chicago-based Rewards Network reported that total operating revenue for 3Q/04 was $23.1 million, a decrease of 7.2% compared the same period last year. Sales declined 3% to $86.8 million. Net income for the quarter was $3.0 million compared to $4.4 million for 3Q/03. The Company closed the quarter with 3.7 million active members, up 12.7%. Nearly 22,000 merchants now participate in the Company’s programs including 10,611 restaurants and 11,111 hotels. Rewards Network provides loyalty and rewards programs for restaurants and hotels via its registered credit card platform. The Company recently expanded into Canada. For complete details on Rewards Network third quarter performance, visit CardData ([www.carddata.com]).