YTB Reports Second Quarter Drop In Profit & Agent Total
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Law Suits, Pyramid Scheme, Card Mill, Losing IATA
YTB (Your Travel Business), recently named in two lawsuits for running an alleged pryamid scheme, now reports a $200,000 second quarter loss. It was just a year ago that YTB reported a $1.7 million profit for the same quarter of 2007.
Comparing the YTB first six month performance against their first six months last year, shows a great difference. In 2007 YTB reported a $500,000 loss for the first half of the year. And now in 2008, the YTB financial performance for the first six months is showing a $3.7 million loss!!
YTB also reports a decline of over 7,000 RTA's ( Referring Travel Agents) membership total in the second quarter, (April 1 through June 30 2008) to 131,572. This completely subtracted any gains that YTB had experienced in their first quarter. YTB ended the 2007 year at 131,802.
Can YTB bounce back from nine months of bad press starting with losing their IATAN status late last fall, a failed attempt to have their IATAN status reinstated in March, 2008, considered by some travel vendors as a "card mill", losing their right to book with Royal Caribbean, Hyatt and others. And the recent pending lawsuits with the State Of California, and former YTB members in the Illionois area, as well as an ongoing investigation by the Better Business Bureau in Illinois.
Former YTB members have "jumped the fence" to their competitor TraVerus Travel. An International company on the rise, which recently formed the "Golden Triangle Concept" with China Clicks 2 and 5CTV in becoming the vehicle that will bring China to the Western World, and the Western World to China. Click here for more information on TraVerus the company destined to become the largest leisure travel company in the world!
Larry Buhrandt
Regional Executive
615-824-9772
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