Carl, David and All:
You guys need to do a little more DD on the LocalNet end of this deal. I am one of the 18,000 distributors and have been for about 15 months. I stopped working the program over 6 months ago because customer service was awful, checks were not going out consistently, and the products were not going out on time.
All except one of my downline is gone, and as of a couple of months ago, none had gotten their money back after sending the set top boxes back to the company.
OK, enough of the bad stuff...I have met Teddy Turner, Rudy Theale and Carl Greiger at two conventions in Atlanta (Nov 97 and Mar 98). They are great guys and they really had it going the Spring of '98. But they had continued Customer Service problems and lack of product deliveries and the company stalled.
The concept is great and as I think you mentioned Carl, there are tons of people who don't have a PC yet. The market is very HUGE. But you still have to have good service, and they didn't have it and I'm not sure if they have gotten better or not.
As far as the Conf. Call last week, I have a few comments...
1. 18,000 reps sounds good on the surface...but they had the same
number this time last year.
2. The ISP change may be good, but again, this will be the third
time they have changed that in the last 2 years.
3. The credit program sounds great to me...maybe many new reps will
be able to get started that wouln't have been able to.
4. The rep support all over the company has been good. My upline
had conference calls each week for updates, marketing challenges,
etc. There are (were) some very good people in LocalNet.
5. I have a hard time believing there will be 15,000 reps in Atlanta
for the next convention. The one in March 98 had 3,600 and we
filled the Georgia World Congress Center conference hall. It
would be a very good turnout if they got 3,000 people attending.
6. There goal hasn't changed from the "old" days...still to get a box
in every home in NA...lofty goal but you have to think big and I
like that.
As far as the stock goes, it appears to have run up on the anticipation of the PR and Conference call and is now settling back to a more normal range after the news. This may very well be a big winner in the future, just depends on how fast they can merge these companies. I have no knowledge of Mark H. at Compu-Dawn, but he sounds as though he wants to get everthing going quickly. Personally, I will give this company several months to iron out the challenges they have.
I don't have any position in this stock now and don't know if I ever will...only time will tell. And by the way, I am NOT bashing to drive the stock down so I can buy lower...I just wanted to share a little DD from the side of LocalNet. I don't have any DD from the original Compu-Dawn.
I will continue to keep my distributorship with E.TV Commerce (new name of networking company) until I decide to s**t or get off the pot.
I hope I start s**ting again!
Sorry for the long post and good luck!
Gary |
