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|Pre-Paid Legal bought out||Views: 431|
|Feb 01, 2011 6:43 pm||Pre-Paid Legal bought out||#|
|Yesterday the New York Stock Exchange listed MLM known as Pre-Paid Legal was bought out by private investors. They will be paying an agreed sum of 650 million dollars for that company.|
The result is that Pre-Paid Legal will ultimately be disappearing from the stock exchange. Also, their sales associates will lose a tiny bit of clout. They will no longer to have the edification of saying that they represent an NYSE company.
It's a big pay day for the founder and his cronies. They held 'emergency' conference calls last night to calm the restless sales reps, claiming everything is cool.
My view? They've had two consecutive quarters of horrific numbers.
New associates 4th quarter down 54.3% from 4th quarter of 2009.
New Memberships down 20.8% for the same period.
Active memberships down, 19,896.
Management has needed new officers. When the buyer waived this money under their noses, they said YES!
Private Reply to Walt Williams
|Feb 01, 2011 7:43 pm||re: Pre-Paid Legal bought out||#|
|Good information Walt. It's always interesting when you get into the discussion of private owned vs public company. When major changes like this occur, there are always pros and cons.|
Make it a great day!
Chris - Follow me on twitter at http://twitter.com/gettinricher34
"Cherish your memories, look forward to the future, but LIVE today"
Founder - Beginner's Network Class - http://beginnersmarketingclass.com/?rid=51
MLM for Serious Network Marketers Network - http://seriousmlm-network.ryze.com/
Private Reply to Chris Janssen
|Feb 04, 2011 2:11 pm||re: re: Pre-Paid Legal bought out||#|
Luther Thompson, Jr.
|Pre-Paid Legal Services Inc. said it agreed to be acquired by units of the New York-based private- equity firm MidOcean Partners for $66.50 a share, or $650 million.|
Pre-Paid made the Jan. 30 agreement after a unanimous recommendation of a special committee made up of independent directors of the board, the company said today in a statement distributed by PR Newswire.
For the entire story:
Pre-Paid Legal Services is a one-of-a-kind company in the direct selling industry. We offer a product that everyone needs - access to affordable legal services - and the product is marketed by independent associates who have the opportunity to develop a successful business while helping others find answers to their personal legal service needs.
We have found a way, through Pre-Paid Legal Service, to work part-time on our fortune and we are now earning, twice as much money as we have working full-time, on the job.
Wouldn’t you like to hear our story? Tune in Saturday, February 5th, 3:00pm (EST).
The 30 minute program will be featured at 3:00pm (EST) Saturday, February 5th, 2011 in all Documentary Channel markets. Additional segments in the ongoing program are now being developed and will feature a variety of Pre-Paid Legal income leaders.
The videotaped program will offer Documentary Channel viewers an informative, fast-paced perspective on the business opportunity available to motivated individuals who want to work for themselves in a position with strong self-determined earning potential.
The program will help to bring the Pre-Paid Legal Service message, "Making a Living, While Making a Difference" to new audiences who are looking for either a part-time or a full-time business opportunity.
Luther Thompson, Jr.
Luther Thompson, Jr. & Associates
PO Box 1026
Atlanta, Georgia 30156-1026
Voice Mail: (866) 485-7373
Private Reply to Luther Thompson, Jr.