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Pre-Paid Legal bought out

Feb 01, 2011 6:43 pm

Pre-Paid Legal bought out

Walt Williams

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!

Walt

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