<One of these days investors will look at Excel's income from sales
reps as we do and find out that with out that income ECI would
be losing money!> ==Hank McNabb==
Hank, Hank, Hank! I can only stand so much of your bad math, so
it's time for some learnin'. I know it's been a long time since you
graduated from Hawgville Junior College over there in Lunchmeat,
Arkansas, so try to pay close attention. (-:
Those fees that Reps pay fall under the category of Marketing
Services. We pay fees to play ball, and Excel pays us cash when we
actually do play ball. I'll give you the facts from Excel's 10Q dated
29 July 1997.
3 Months Ended June 30, 1997
^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Marketing Service Revenues $37,648,000
Marketing Service Operating Expenses $61,649,000
Keep in mind, Hank, that revenues is money coming in, and expenses is
money going out. Maybe that's where you're falling down, or maybe you
should hose down that abacus of yours with some WD-40; works great on
rust.
Now what this means, Hank, that in this 3 month period Excel LOST 24
million dollars on Marketing Services. This indicates that Excel was
paying it's independent Reps far more money than they were taking in
in fees. Are you with me, Hank? If you're still not getting this,
I'll try to hook up with Big Bird and fly into Lunchmeat, Arkansas to
give you some more learnin'.
Now in the current 4Q, Excel has been paying us even more money.
They've had this Triple Pay promotion going on, and for all the Reps
that actually played ball, well we've been paid triple for our work.
This is the double edged sword that apparently Excel's management
didn't balance to well this quarter. They got a lot of customers, but
it cost them a lot of upfront money.
Oh, yeah, great to have you back on the thread.
Really good to hear from you. Please keep in touch.
J. Brent Reeves |
