Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (91052)	10/1/2007 10:53:53 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

This is a pretty good review of the fraud at CUC before it was merged with HFS to form Cendant. en.wikipedia.org I could tell you more when I get back from dinner. .

To: Lizzie Tudor who wrote (91052)	10/2/2007 2:03:24 AM
From: Sr K	Read Replies (1) \| Respond to of 306849

CUC was Comp-U-Card International and sold the Entertainment discount book in regional editions and expanded into similar discount programs with a free month to start and then hefty monthly or prepaid for a year charges, IMO. One of the first "diversifications" was credit card registration services to report lost cards if you lost your wallet or purse. $9.95 per month or $119.40 per year. What a deal. That was way before the banks started to offer this or CUC private-labeled it through the banks. The foundation of the business was flaky, but it was written up very favorably in Forbes. It had the steady track of increasing revenues and earnings and sold for a high PE multiple. They used their paper to diversify further and it eventually merged into HFS which was renamed Cendent. The cookie jar accounting was known at GE, but I didn't know it was used by "EVERYONE".