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YTB, the multi-level-marketing darling of thousands of referral and pseudo travel agents along with many travel suppliers will soon feel the same hurt and chaos others did when the bankrupt Travelstar/JoyStar went down in 2008/2009. I know many travel agents and suppliers were hurt badly when JoyStar went down. Fortunately, over the years many JoyStar agents did heed my advice and moved on leaving those not so smart loyalists with lost commissions.
We are now in a second scenario with the largest of the MLM/card mill operations, YTB, about to take the plunge. Recent high interest borrowing of short term money, the sudden resignation of its CFO and a couple of directors have signaled the end is near, very near. Their stock is around 4 cents. This is all the same scenerio as prior to JoyStar's collapse.
I cannot emphasize the importance of anyone doing business with YTB, that they first check the facts and recent goings on with this company and make a decision. Time, in my opinion, is of the essence to both travel agents and suppliers.
Please keep in mind that all multi-level-marketers and "card mills" are in serious trouble as it is impossible to sustain a profit with just commissions from the sale of travel. The ecomomic conditions also plays a good part in weeding out these people as it exposes their weaknesses.. MLMs must continue to create their pyramid schemes, sucker greedy consumers into joining their network and selling "get rich quick" worthless websites which comprises over 75% of their business. MLMs do not belong in the travel business period.
Those of you who are still proscrastinating, wakeup as it may already be too late.
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