The St. Louis Post Dispatch has just released a story on all the insider deals by YTB. Some have been known for some time, but others were a surprise.While technically legal, in today's environment, they do raise suspicion and red flags according to experts. And then you toss in the unwillingness to comment for the story and you have to go "hmmmm".
Some of the transactions include:
- The Plane
- The Statue
- The K-Mart
- The Development
- The Cars
- The Sub-Prime Bank Loans
It almost seems if YTB is just flaunting their blatant disregard for ethical business operations.
I wonder who in your life is missing out on YOU because of your obsession with YTB. Kids perhaps? If you were able to put as much effort into the people that care about you as you do in your obsession with YTB and all the other things you are a rescuer for, I can't help but think of how much more of a gift you could be to them.
ReplyDeletefiremedic--technology is a wonderful tool if you simply learn how to use it. You really can just sit back and let the info come to you---no need to go looking for it!
ReplyDeleteToday, I took my sont to work and when he was done we practiced driving a bit. When we got home, I took my two daughters to the mall for some fall clothes and then took my oldest to her girlfriend's for a birthday party. Am now checking email before heading to the family room to watch a movie.
I think it's pretty obvious from all the different posts on the internet that there are lots of people investigating and posting things about YTB.
ReplyDeleteAmazing to me that it is always shoot the messenger around here and never the message or the entity that the message is all about. There are two related very well researched, factual, truthful, backed up with facts and SEC filings on YTB in the Post today (including the one that John has referenced here). Interesting and very typical, that YTBers can't even come up with one defense or argument against the many, many facts stated in both articles, or even one intelligent perspective on any of them.....it's just some lame, weak jab at John, yet once again. Pathetic...really pathetic.
ReplyDeleteI wonder just what in the real business world YTBers are missing out on in a legit business or career with real security, a future and an actual income that does not include paying an employer to make THEM money and lieing, cheating and stealing from others, and that is something to be proud of and is not a sham full of crooks. lol
Firemedic227....I wonder who in your life is missing out on YOU because of your obsession with John's blog. Kids perhaps? If you were able to put as much effort into the people that care about you as you do in your obsession with John's blog and all the other things you are a YTB rescuer for, I can't help but think of how much more of a gift you could be to them. You are the #1 poster on this site you know.
ReplyDeleteYou know firemedic you remind me of an alcoholic always in denial about the problem. As to John's relationships that is simply none of your business.
ReplyDeleteThe article was published in a well respected newspaper. The reporter has no ties to John or this blog. Let's stick to the facts on what YTB is doing and not slam someone's parenting or personal life.
You criticize people here for slamming you and yet you do the same thing routinely.
As to YTB, I am sure the SEC will be looking into all of this if not already.
AT;
ReplyDeleteJohn didn’t post the article for everyone to reference. The post is only HIS perception.
Maybe John doesn’t want the readers to actually read the article?
If they did they would find this quote:
All of these deals were disclosed in the company's filings with the U.S. Securities and Exchange Commission and approved by the independent members of YTB's board of directors. They're legal.
Here's what this article is all about...
But these kinds of deals raise the eyebrows of corporate governance experts, and, in YTB's case, give fuel to critics who say the whole thing is little more than a pyramid scheme designed to enrich those at the top.
So it appears the Firemedic is correct, that this article is nothing more than a platform for those who want to promote impropriety, when there’s nothing illegal about what YTB has done.
The SEC can investigate all they want, but when what we do is legal, what kind of action do you suppose the SEC will take?
Not a damn thing.
"If it ain't right, don't do it." Legally.
ReplyDeleteAhhh, I guess ethics don't enter the picture. Here's part of the article, also:
"Still, Elson said, these sorts of deals raise more questions than they're worth. Even when they are above board, related-party transactions raise the question that the company is not getting the better of the deal, and when, like YTB, the company is publicly traded, those questions carry a lot of risk.
"Prudence would tell you to avoid them," he said. "The easiest thing is just not to do it." "
You know what Really you are another RAT in denial. If the CA AG doesn't do it the class action lawsuits will. Look up the law firm Carey and Danis why don't you. They are on of the TOP litigation firms in the US. They would not have taken on YTB if there was no merit.
ReplyDeleteAs to the SEC just wait. The whole house of cards will crumble it's just a matter of time. And Coach will fold up the tent and move on to the next best thing and leave you all hanging in the wing.
You all are in denial just like someone with an alcohol or drug problem. I guess you have to hit rock bottom before you wake up.
And, please don't come on here and try to deflect any more. You are pathetic.
Ann;
ReplyDeleteThere is nothing illegal about YTB is doing. All public information, and legal.
The reporter is addressing YOUR questions as an investor who is looking at this, not the SEC.
If you don’t like what YTB is doing, don’t invest.
AT;
Even John states that these transactions are legal, so don’t give me this deflection or denial crap.
Take a look in the mirror.
We are discussing the SEC looking into legal transactions in this post, not the AG or Civil Actions.
The Anti-YTB crowd here seems to be the group who is in denial that these transactions are legal, and when faced with this fact, not the spin you try to perpetuate, you bring the AG and Civil Complaints into the picture which are simply complaints. Nothings been proven concerning either of YOUR deflections.
If you want to discuss the AG and Civil crap, I’m sure John will be posting about that AGAIN for you.
Until then, let’s stick with the topic of THIS post.
Why would you wait for the SEC do anything about legal transactions?
False hope? Wishful thinking?
That’s stupid.
What we have here is a lame attempt to spin this illusion that what YTB is doing is illegal, and because you and the “opinions” from the WTA’s don’t amount to JACK, you bring the almighty SEC into the picture in an attempt to add credibility.
THAT’S pathetic.
Well usually where there is smoke there is fire. What has been highlighted is not illegal per se.
ReplyDeleteHowever, it does raise the suspicion of investors and yes the SEC. Do you think that the SEC is not aware of all the news about YTB of late?
Let's say that the foam prop did price out at $8M (and YTB has spun this from $1.8M to $6M to $8M depending on their audience) and it is found that thet took public money (YTB) and passed it to BM (prvate company) there is a huge issue.
And that is what we know. When you have the preponderance of insider deals, you wonder if it is the tip of the iceberg. If nothing else, I think it is worth a look.
YTB has encouraged people to make dubious income tax deductions, the CA AG has said they have made erroneous income claims, there are now all sorts of insider deals. There is very little that this company does that does NOT have controversy.
The AG suit is a strong first shot across the bow. And I am still of the opinion that others will follow--IL, MD, FL and perhaps NY. The FTC almost by default has to become involved as does the SEC.
And Bermuda is investigating them as well--that is official--but apparently their laws do not have the bite that US laws do. Maybe that was the reason for the Bermuda expansion?
Really?,
ReplyDeleteBelieve me, I'm not investing $$ in YTB. However, I have invested quite a bit of time and effort in the industry and YTB is giving the industry a black eye, ethically. I do not want to have to be embarrassed to state my profession. I am not whining. I am merely stating that as a TTA, I don't want to have people looking at me like I'm the used car salesman of the travel industry.
It's nice to see all of this coming out. I predict that we will continue to see what kind of slimey people run this company. It's all out there, it's only the blinded zombies that are in YTB that refuse to see what is truely going on behind the doors of YTB.
ReplyDeleteI still think that where the SEC will file charges, will be about the insiders selling stock during the 18 months they were talking to the CA AG, without having disclosed those talks or the nature of those talks in their official SEC filings. That kind of trading is exactly what the insider trading laws are in place to prevent.
ReplyDeleteAll these related-party transactions will just be anecdotal evidence in the insider trading case.
Carey and Danis?
ReplyDeleteTypical ambulance chasers . . . of the John Edwards breed.
They are lining up . . . hoping that YTB is deemed a pyramid scheme.
Mark my words.
It won't happen.
YTB will win this one.
Carey and Danis and their "terribly injured" lowlifes will be on to the next accident.
And don't expect an SEC investigation.
Typical press hype hoping to fan the flames.
The bottom line:
YTB did nothing illegal in any of the supposed "questionable" actions.
The WTAs (whining travel agents) will be crying the blues when YTB wins this in court.
Looking forward to it!
"Carey and Danis?
ReplyDeleteTypical ambulance chasers . "
Mix you are seriously deluded. Go look at their website and see the cases they have fought and won, Vioxx, Microsoft, Baycol, diet drugs. They have fought companies LARGER than YTB and with deeper pockets and WON!
YTB actually does not have very deep pockets at all. Look at the SEC filings. Throw in the houses, jet, cars, statue, and all the shady deals and there really is not that much.
ReplyDeleteAnd if you think Tomer & Crew are going to use the money they have personally amassed from this scam, you are kidding yourself.
While the transactions may be legal, I believe the question on the table is, are they ethical? Every transaction YTB makes has either been made to themselves, or to another board member. It's shady at best.
ReplyDelete