Excel Communications: 130,000 Independent Representatives loose all?
As previously posted VarTec Telecom Inc filed for Chapter 11 bankruptcy protection on Monday November 1, 2004.
VarTec's bankruptcy filing included all 16 domestic VarTec subsidiaries, most notably Excel Communications.
Excel Communications was VarTec's MLM sales channel, where an estimated 130,000 independent representatives sold long distance and related services through a multi level marketing organization.
It was quickly reported that VarTec intended to shut down Excel Communications and its MLM organization as a result of the bankruptcy filing, instantly stripping its independent representatives of residual incomes built up often over a period of many years. While the financial impact of this sudden stop in commisison payments will vary from representative to representative, there is no doubt that many of Excel's independent representatives are now faced with the prospect of loosing thousands of dollars in monthly income.
The final decision to shut down the Excel Communications MLM sales organization is pending approval by the U.S. Bankruptcy Court for the Northern District of Texas. The motion from VarTec to end its contract with independent representatives of Excel Communications will be heard by U.S. Bankruptcy Judge Steven Felsenthal on November 22, 2004.
If approved, this motion will result in no more commission payments to any Excel Communications representatives, and former South Carolina Senator and Excel agent Michael Rose state that "We have tens of thousands of reps in 50 states that are losing their livelihoods because of these high-level financial machinations".
Mr Michael G. Hoffman, former general counsel to VarTec, will be the company's CEO and lone board member following the bankruptcy filing. Commenting on the decision to stop selling telephone services through independent representatives of Excel Communications, Mr Hoffman said the company was trying to do its best for the representatives but could no long afford to pay them commissions.
Naturally, with the loss of income Excel representatives will see if VarTec's plan gets approval by the court, many representatives of Excel Communications can be expected to seek out alternative sources of income through other sales organizations.
A logical alternative in this aspect would be Cognigen Networks, a publicly traded company offering a free sales opportunity representing a number of well known telecommunication providers. While the fact that Cognigen is free to join may not sit well with Excel representatives accustomed to making most of their money on recruiting new representatives, those Excel representatives making money from actual product sales will likely find the Cognigen products and compensation plan very appealing.
VarTec has expressed an intent to help its Excel representatives transform to a new company though, and there are reports of talks between VarTec and Shaklee, a San Fransisco based multi level marketing organization currently focused on selling nutritional products through its independent agents. According to Mr Hoffman, Shaklee would become a distributor of VarTec phone services under the deal being discussed.
How such a partnership would be received by the 130,000 independent representatives of Excel Communications remains to be seen, but I personally have a hard time imagining too many representatives getting all that excited about giving up their hard earned compensation for sales already made on VarTec's behalf just to join another organization and start selling the same products all over again...
VarTec's bankruptcy filing included all 16 domestic VarTec subsidiaries, most notably Excel Communications.
Excel Communications was VarTec's MLM sales channel, where an estimated 130,000 independent representatives sold long distance and related services through a multi level marketing organization.
It was quickly reported that VarTec intended to shut down Excel Communications and its MLM organization as a result of the bankruptcy filing, instantly stripping its independent representatives of residual incomes built up often over a period of many years. While the financial impact of this sudden stop in commisison payments will vary from representative to representative, there is no doubt that many of Excel's independent representatives are now faced with the prospect of loosing thousands of dollars in monthly income.
The final decision to shut down the Excel Communications MLM sales organization is pending approval by the U.S. Bankruptcy Court for the Northern District of Texas. The motion from VarTec to end its contract with independent representatives of Excel Communications will be heard by U.S. Bankruptcy Judge Steven Felsenthal on November 22, 2004.
If approved, this motion will result in no more commission payments to any Excel Communications representatives, and former South Carolina Senator and Excel agent Michael Rose state that "We have tens of thousands of reps in 50 states that are losing their livelihoods because of these high-level financial machinations".
Mr Michael G. Hoffman, former general counsel to VarTec, will be the company's CEO and lone board member following the bankruptcy filing. Commenting on the decision to stop selling telephone services through independent representatives of Excel Communications, Mr Hoffman said the company was trying to do its best for the representatives but could no long afford to pay them commissions.
Naturally, with the loss of income Excel representatives will see if VarTec's plan gets approval by the court, many representatives of Excel Communications can be expected to seek out alternative sources of income through other sales organizations.
A logical alternative in this aspect would be Cognigen Networks, a publicly traded company offering a free sales opportunity representing a number of well known telecommunication providers. While the fact that Cognigen is free to join may not sit well with Excel representatives accustomed to making most of their money on recruiting new representatives, those Excel representatives making money from actual product sales will likely find the Cognigen products and compensation plan very appealing.
VarTec has expressed an intent to help its Excel representatives transform to a new company though, and there are reports of talks between VarTec and Shaklee, a San Fransisco based multi level marketing organization currently focused on selling nutritional products through its independent agents. According to Mr Hoffman, Shaklee would become a distributor of VarTec phone services under the deal being discussed.
How such a partnership would be received by the 130,000 independent representatives of Excel Communications remains to be seen, but I personally have a hard time imagining too many representatives getting all that excited about giving up their hard earned compensation for sales already made on VarTec's behalf just to join another organization and start selling the same products all over again...
posted by Mr. Long Distance at 7:38 PM
10 Comments:
I am a Pre-Paid Legal associate who is aware of the unfortunate circumstances of Excel's standing, and our founder Harland Stonecipher is offering Excel's representatives a "Lateral Move" into Pre-Paid Legal Services for November 2004 only. Please listen to a pre-recorded call @ (918) 222-7552 (Opt #2) for a brief overview for Excel Associates, and visit my web page @ www.prepaidlegal.com/go/mswmarie. Here is the link for the (.pdf) file with the details @ http://wserver0.prepaidlegal.com/pdf/22943.pdf , and I hope to hear from you so I can help you & fellow associates with your transition! Sincerely, W. Marie Swear (209) 324-5074 & Toll Free @ 1-877-228-3478.
Hot News From The Automotive Lending Industry!!
+++++++++Current Profile+++++++++
InterFinancial Holdings, Corp (IFLH)
Current Price $0.036
+++++++++++++++++++++++++++++
Is this an undiscovered gem priced to go higher!!
Please read the following Announcement in its Entirety and Consider the Possibilities�
Watch this One to Trade!
IFLH announces Senator David Cain has joined its Board of Directors!!
IFLH volume trading is beginning to surge with landslide Announcement. The value of this
stock appears poised for growth! This one should not remain on the ground floor for long.
BREAKING NEWS!!
InterFinancial Holdings, Corp. (OTC Pink Sheets: IFLH - News) announced that they have added
David Cain to their board of directors. David Cain is currently the Chairman of the advisory
board to TTI (Texas Transportation Institute). Senator Cain represented Senate District 2 for
eight years in the Texas Senate and Chaired the Senate State Affairs Subcommittee on
Transportation and served nine terms in the Texas House of Representatives for District 107.
During his twelve years as Chairman of the House Committee on Transportation, Senator Cain�s
efforts on behalf of the people of Texas have been widely recognized. He was named to Texas
Monthly Magazine�s list of Ten Best Legislators, the Dallas Morning News said he was one of
the outstanding legislators of the 73rd session, and the Texas Department of Transportation
awarded him the Russell H. Perry Award in 1995 for his efforts to gain public awareness of
the need for and benefits of transportation facilities in the State of Texas.
Jeffrey C. Bruteyn, Managing Director, stated, We at InterFinancial are proud to have such a
widely recognized Senator join our board and oversee out automotive lending division. His
affiliations and connections to the automotive industry will be invaluable to our company.
Senator Cain will be instrumental in expediting our approval to use a government issued Seller
Finance License.
Seller Finance Licenses are very difficult to obtain and are usually reserved for the Big Boys
with heavy lobbyists. These licenses are highly coveted because it allows the finance company
to collect the entire down payment, instead of paying a portion of it to the taxing authority.
This dramatically helps a finance company�s bottom line if the buyer defaults on the loan.
With the new GPS tracking systems being installed on every car to dramatically improve
repossessions and with Senator Cain on the Board of Directors, InterFinancial Holdings
is ready to take their business to the next level.
Conclusion:
The examples above show the Awesome, Earning Potential of little known Companies
That Explode onto Investor�s Radar Screens. This stock will not be a Secret for long.
Then You May Feel the Desire to Act Right Now! And Please Watch This One Trade!!
GO IFLH!
All statements made are our express opinion only and should be treated as such. We may own,
take position and sell any securities mentioned at any time. Any statements that express or
involve discussions with respect to predictions, goals, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance are not statements of
historical fact and may be "forward looking statements." Forward looking statements are based
on expectations, estimates and projections at the time the statements are made that involve a
number of risks and uncertainties which could cause actual results or events to differ materially
from those presently anticipated. This newsletter was paid four thousand dollars from a party
(IR Marketing). Forward looking statements in this action may be identified through the use of
words such as: "projects", "foresee", "expects". in compliance with Section 17(.b), we disclose
the holding of IF LH shares prior to the publication of this report. Be aware of an inherent
conflict of interest resulting from such holdings due to our intent to profit from the liquidation
of these shares. Shares may be sold at any time, even after positive statements have been made
regarding the above company. Since we own shares, there is an inherent conflict of interest in
our statements and opinions. Readers of this publication are cautioned not to place undue reliance
on forward-looking statements, which are based on certain assumptions and expectations involving
various risks and uncertainties that could cause results to differ materially from those set forth
in the forward- looking statements. This is not solicitation to buy or sell stocks, this text is
for informational purpose only and you should seek professional advice from registered financial
advisor before you do anything related with buying or selling stocks, penny stocks are very high
risk and you can lose your entire investment.
Thanks for the info! Here is a bad joke and some very solid internet marketing training resources tHERE
Thanks for the info! Here is a cute site that also has some very solid profits resources tHERE
Thanks for the info! Here is a cute site that also has some very solid internet marketing training resources tHERE
Greetings: ##Name## I was just out looking for information about voice over the internet, and found your site, and even though, Excel Communications: 130,000 Independent Representatives loose all? is not exactly what I had in mind, it certainly got me to take notice. Nice read I now know why I found you when I was looking for voice over the internet. I am glad I stopped by for a look, thanks
Hi: ##Name## I was just out searching for some information on internet calls, when I ran across your site, and even though, Excel Communications: 130,000 Independent Representatives loose all? is not exactly what I am looking for, it did get my attention. I now know why I found you when I was looking for internet calls. Very nice read, I am glad I was able to find you, thank you.
Hi: ##Name## I was just going about trying to find the latest information on free longdistance, when I came to your site, and even though, Excel Communications: 130,000 Independent Representatives loose all?, is not quite what I was searching for, it did get my attention. I now see why when I was looking for free longdistance, related information It led me here. Good to be able find out about this. Thanks for the info.
Thanks for the info! Here is a cute site that also has some very solid sales techniques resources HERE
Irresistible blog. I look for blogs like this one
when time allows me to. I enjoyed the site and I'll
check it next time!
Everyday of the month you need to peep my cheap conference call blog.
Post a Comment
<< Home