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Read more from the original source:

http://notravelmlms.blogspot.com/2009/06/observations-on-power-list.html

I am not sure why everyone in the world can see the discrepancies except Travel Weekly.

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Here is the original:

http://notravelmlms.blogspot.com/2009/06/travel-weeklys-power-list.html

For those interested. Travel Weekly Power List .

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This Travel Weekly cartoon got my vote! Did you cast yours?

Original post:

http://notravelmlms.blogspot.com/2009/05/travel-weekly-cartoon.html

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Over the years, people have asked why the traditional travel agents want to see YTB fail. It is not a very fair question. While I could never speak for anyone other than myself, I might suggest that most traditional agents are not seeking failure, but change. Most are not afraid of any competition (contrary to the belief of many in YTB) and in fact relish it. But the caveat would be fair, legitimate, and ethical competition. Well, in baseball they give you three strikes!

The past 18 months on this blog has certainly demonstrated the shortcomings of MLM in the travel business and in particular YTB.

There is no dispute that YTB has acted, at best, on the fringe–of ethics, fairness, legitimacy, and legality. If there was a loophole to be exploited, YTB would exploit it. Even Paul Henderson from ProTravel Network has said he will continue to exploit the weaknesses until stopped.

Well, last week, YTB was stopped in California and there is another battle looming with Illinois–a much more severe one. This suit levels stronger accusations, stronger penalties, is seeking a complete cessation of business and is in their home state!

Perhaps it is time for those that are in YTB or are supporters to take a break from bashing traditionalists on this blog and others and look to Wood River for some answers.

You joined a company and certain expectations were set–if they were true or false is irrelevant. The opinions of this blog, Travel Weekly, TravelPulse, Travel Trade, and Travel Agent are irrelevant. What you need to do is look at the facts, and ask yourself if these facts (most of which are negative) were preventable? Did management have the wherewithal to prevent the situations that you continuously find yourself defending?

This article is chock full of facts, links and sources. Do not take the spin from Wood River as Gospel. Do not take this blog as Gospel. Look at the facts yourself and look at them with an open mind and ask yourself if this is really such a good opportunity after all?

Instead of flinging insults, maybe it is time to begin to fling questions?

More: 

http://notravelmlms.blogspot.com/2009/05/real-questions-lie-ahead.html

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Travel Weekly…the Holy Grail of the travel industry…the publication mentioned by name numerous times in the YTB 10-Q filing…the source for fair and balance information about YTB…the firm that verified that YTB did not smoke their numbers when they reported them to be #26 on the Power List….has come forth with the following headline:

Travel Weekly points out several of the points we made this morning including

Net revenue in the first quarter came to $21.8 million, and 85.4% of revenue came from selling websites to prospective travel sellers and from the monthly fees that these agents pay. Travel commissions and services accounted for only 11.6% of revenue. Another 2.2% came from sales of training and marketing materials to those who purchased websites.

In the first quarter, YTB lost 20% of its travel sellers, which YTB formerly called referring travel agents (RTAs) but now calls travel site owners (TSOs). It started the year with 92,383 and ended the quarter with 73,801. In the first quarter of 2008, YTB was still gaining in numbers of website owners — from 131,802 to 138,525.

Original post: 

http://notravelmlms.blogspot.com/2009/05/travel-weekly-chimes-in.html

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According to the 10-Q filed yesterday, here is what was disclosed:

• In looking quarter over quarter, recruiting income is down 45% and travel income is down 52%
• They realized a net loss of $1.9 million dollars in three months
• However it was better than last year. In 2008, they managed to lose $3.5 million in three months back then
• They have nearly $1.3 million in receivables. Most travel companies have next to nothing
• The jet was bought for $1.3 million and sold for $872 thousand
• They are down to 73, 801 RTAs/TSOs
• They were at 92,383 just three months ago
• The new Co-CEO is a consultant
• They are trying to raise additional capital by offering a TSO Stock Purchase Plan
• They are planning on selling more assets to raise capital
• They have a lot of court time in the coming weeks
• June 1 is the date to see if the Class Action Suit for $100 million will be dismissed
• No one has signed off on any settlement in California yet
• Their insurer agreed to pay only if California was settled (hmm interesting)
• They used to have a $1.7 million reserve for credit card processing. Their processor raised it to $3 million
• With only $1.8 million in cash and cash equivalents, they plan to fund that $3 million by June 30th
• The people that bought their property stiffed them and didn’t pay, so now they need to foreclose
• There is almost $400 thousand dollars worth of YTB clothing. Any lime green?
• On April 1st they were sued again for violation of an oral contract
• On May 7th, they sued some of the Directors who left the company and will be in court May 14th
• On May 8th, they filed suit for the money the departed Directors borrowed and never paid back
• They are really not too sure that they can win any of these cases
• Contrary to Travelcop’s delusions, Clay Winfield did indeed resign on April 30th
• They anticipate future travel revenue to decline
• Recruiting accounted for 85.4% of thier income
• Travel accounted for 11.6% of thier income
• They sold an average of 618 new IBCs per week
• 2,167 called it quits per week
• For the conceptually challenged, that is 1 quitting RTA every 5 minutes (if anyone can find a widget, that might be a fun one to have on the blog)
• It cost them almost $300,000 to defend against California for the first three months of the year
• They ran out of money (and hope it seems) to build the headquarters. In the old K-Mart, Aisle 19 was saved
• Oh, and Canada–not so much

Discussion?

Excerpt from: 

http://notravelmlms.blogspot.com/2009/05/quarter-in-review.html

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