By action | February 24, 2011
OUCH… Pre-Paid Legal has just released their financials for 2010 and the 4th quarter results are not looking good at all.
Take a look for yourself…
During the 4th quarter of 2010, new sales associates enrolled decreased 54.3% to 28,160 from the 61,623 enrolled in the 4th quarter of 2009 and new memberships produced decreased 20.8% to 117,472 during the 2010 quarter compared to 148,248 for the 2009 quarter.
With the recent news that New York-based private equity firm MidOcean has merged (aka bought out) Ada, Oklahoma-based Pre-Paid Legal Services I don’t see much of a future for the MLM part of PPL. I predict that the MLM division will cease to exist within the next 18-36 months. I predicted a merger back in October of 2010 on Facebook and had dozens of people say I was crazy.
I can only imagine how many of the Platinums (I was previously part of that group) are looking for an exit strategy. Publicly they are talking like everything is roses & sunshine but behind closed doors these leaders are freaking out.
– Posted from my iPad
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