기타 | Prepaid Legal Service 의 실상 - part 2
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그럼 더 보겠습니다. 바로 2009 년 에 이 회사에 대한 나온 기사 입니다.
========================================================
Pre-Paid Legal Services (PPD Quote - Cramer on PPD - Stock Picks)
is having some issues again.
For one thing, the company faces new questions about
its financial reports. For another, Pre-Paid has been
found guilty of fraud in one of the many legal battles that
has been dogging it for years.
In 2001, the SEC forced Pre-Paid to start treating commissions
paid to its sales associates as expenses rather than assets.
The change cut the company's reported earnings by more
than half.
Moreover, it marked the second time the company found itself
adjusting its treatment of commissions and slashing its
reported profits as a result.
For now, however, the company has escaped a so-called
qualified opinion from its auditor and the need for additional restatements.
Instead, Thornton has simply offered no opinion at all
until the company addresses problems with its internal controls.
Shares of Pre-Paid fell 1.1% to $34.81 on the disclosure.
Still, one financial expert said the news could have been worse.
PrePaid Legal Info
PrePaid Legal's 2008 numbers are in (read more here).
Note that 552,327 memberships were sold in 2008,
and yet active memberships fell by 16,648
(from 1,575,802 to 1,559,154) during the same time period.
Roughly 568,975 memberships
(over 33% of the equivalent of the numbers of current active memberships) were cancelled in 2008.
During the same time period, the number of new sales
associates enrolled decreased 17.8%
(from 122,255 to 148,802, about 1/3 the number of memberships
sold during these time periods).
While this may seem like nit-picking (after all, the end of 2007
did mark the beginning of a recession), this trend
(of cancellations keeping close pace with new memberships sold)
is important to note for associates being recruited under the
idea that Pre-Paid Legal memberships are taking market by
storm (as suggested in recruiting tools such as this video).
Below is a list of active memberships by end of year,
starting in 2002 (when I was recruited).
Year - Active Pre-Paid Legal Memberships
2008 - 1,559,154
2007 - 1,575,802
2006 - 1,542,789
2005 - 1,451,700
2004 - 1,418,997
2003 - 1,382,306
2002 - 1,242,908
Pre-Paid Legal Recent Updates
Pre-Paid Legal Services Announces 2007 1st Quarter Membership
and Recruiting Results
During the 1st quarter of 2007, new sales associates
enrolled decreased 37.6% compared to the first quarter of 2006.
Memberships produced decreased 2.2% and new membership
fees written decreased 7.5% and our active membership base i
ncreased slightly by 8,368 memberships compared to the
comparable period of the previous year.
Read More
PrePaid Legal Memberships Fall
Pre-Paid Legal Services Inc., which provides underwritten
legal assistance for a monthly fee, on Monday said
new memberships produced fell 2.2 percent in the first quarter.
Read More
PrePaid Weathers Guilty Verdict
PrePaid has been found guilty of fraud in one of the many legal battles
that has been dogging it for years
보시다 싶이 이 Prepaid Legal Service 의 멤버쉽은 제작년 157 만명(백오십 칠만) 에서 2008 년 에는 156만명으로 줄었습니다.
(kim3 님 이 말한 200 만명하고는 1/4 이 차이가 납니다).
더 중요한 것은 이 멤버쉽의 일년에 들어오는 것많큼 cancel 된다는 것입니다.
예를 들자면 2008 년 에 새 멤버는 552,327 명 인데 cancel 한 사람은
오히려 16,648 명 많은 569,075 명 입니다.
그러니 이 비지네스 모델을 유지 하기 위해서는 계속 새로운 멤버를 끌여들여야 합니다.
또 이 세일즈 하는 사람들의 증가 추세도 줄어들고 있습니다. 보니까, 지금 kim3 님 은 세일즈 하시는 분입니다(your only purpose for this).
========================================================
Pre-Paid Legal Services (PPD Quote - Cramer on PPD - Stock Picks)
is having some issues again.
For one thing, the company faces new questions about
its financial reports. For another, Pre-Paid has been
found guilty of fraud in one of the many legal battles that
has been dogging it for years.
In 2001, the SEC forced Pre-Paid to start treating commissions
paid to its sales associates as expenses rather than assets.
The change cut the company's reported earnings by more
than half.
Moreover, it marked the second time the company found itself
adjusting its treatment of commissions and slashing its
reported profits as a result.
For now, however, the company has escaped a so-called
qualified opinion from its auditor and the need for additional restatements.
Instead, Thornton has simply offered no opinion at all
until the company addresses problems with its internal controls.
Shares of Pre-Paid fell 1.1% to $34.81 on the disclosure.
Still, one financial expert said the news could have been worse.
PrePaid Legal Info
PrePaid Legal's 2008 numbers are in (read more here).
Note that 552,327 memberships were sold in 2008,
and yet active memberships fell by 16,648
(from 1,575,802 to 1,559,154) during the same time period.
Roughly 568,975 memberships
(over 33% of the equivalent of the numbers of current active memberships) were cancelled in 2008.
During the same time period, the number of new sales
associates enrolled decreased 17.8%
(from 122,255 to 148,802, about 1/3 the number of memberships
sold during these time periods).
While this may seem like nit-picking (after all, the end of 2007
did mark the beginning of a recession), this trend
(of cancellations keeping close pace with new memberships sold)
is important to note for associates being recruited under the
idea that Pre-Paid Legal memberships are taking market by
storm (as suggested in recruiting tools such as this video).
Below is a list of active memberships by end of year,
starting in 2002 (when I was recruited).
Year - Active Pre-Paid Legal Memberships
2008 - 1,559,154
2007 - 1,575,802
2006 - 1,542,789
2005 - 1,451,700
2004 - 1,418,997
2003 - 1,382,306
2002 - 1,242,908
Pre-Paid Legal Recent Updates
Pre-Paid Legal Services Announces 2007 1st Quarter Membership
and Recruiting Results
During the 1st quarter of 2007, new sales associates
enrolled decreased 37.6% compared to the first quarter of 2006.
Memberships produced decreased 2.2% and new membership
fees written decreased 7.5% and our active membership base i
ncreased slightly by 8,368 memberships compared to the
comparable period of the previous year.
Read More
PrePaid Legal Memberships Fall
Pre-Paid Legal Services Inc., which provides underwritten
legal assistance for a monthly fee, on Monday said
new memberships produced fell 2.2 percent in the first quarter.
Read More
PrePaid Weathers Guilty Verdict
PrePaid has been found guilty of fraud in one of the many legal battles
that has been dogging it for years
보시다 싶이 이 Prepaid Legal Service 의 멤버쉽은 제작년 157 만명(백오십 칠만) 에서 2008 년 에는 156만명으로 줄었습니다.
(kim3 님 이 말한 200 만명하고는 1/4 이 차이가 납니다).
더 중요한 것은 이 멤버쉽의 일년에 들어오는 것많큼 cancel 된다는 것입니다.
예를 들자면 2008 년 에 새 멤버는 552,327 명 인데 cancel 한 사람은
오히려 16,648 명 많은 569,075 명 입니다.
그러니 이 비지네스 모델을 유지 하기 위해서는 계속 새로운 멤버를 끌여들여야 합니다.
또 이 세일즈 하는 사람들의 증가 추세도 줄어들고 있습니다. 보니까, 지금 kim3 님 은 세일즈 하시는 분입니다(your only purpose for this).
작성일2009-02-22 12:56
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