Rabbit Out Of The Hat
It’s been a lot of fun to watch all the activity over the last 36 hours. The disbelief of our critics at first was absolutely priceless. None of them had a clue that there was any type of mediation going on between YTB and the Attorney Generals office. No need to even think there would be, everyone of them were convinced that this case would go all the way to trial. Denial was the first reaction of many as if it were some cruel joke that YTB was playing on everyone.
Next came the demands for proof and I’m quite certain the by 9:00am California time the AG switch boards and servers were flooded with both calls and e-mails with pleas of “Say it aint so!” After all, very reliable and dependable sources had no idea that mediation between the AG office and YTB was even going on. (A point that shows me just how clueless our critics really are.)
Then came the scrambling and excuses to try to deflect attention from the upcoming settlement and accusations of, get this, “insider trading”. Last I checked, the type of insider trading (there are two variations) critics have brought up was that news of the tentative settlement was only given to Directors and Coach’s Corner Members (well after the closing bell)…who proceeded to disperse this information all over the internet Monday night, so by the time the bell rang Tuesday morning, anyone who had an interest in YTB or YTBLA had news of the tentative agreement within a few clicks form both insiders and outsiders. Kind of difficult for anyone to prove insider knowledge when the entire industry had word something was up. Regardless, an 8K was filed with the SEC and posted by the close of business yesterday. I would assume that some are a bit upset that it took them so long to get out of the denial phase and into action mode when they saw the stock price jump more than 50% in one day.
My how creative critics can be when backed into a corner.
And finally, in an interesting twist, Jerry Brown’s office felt the need to tell everyone that a settlement was not actually finalized…yet. It was my understanding that’s what the word tentative meant. Before finding this little nugget to throw back at YTB, many from the opposite side of the fence realized the meaning as well and used the word “tentative” to defend any acknowledgment that the settlement was any good. All sorts of questions came up to defend themselves from the egg on their face for not having any idea that a settlement was even in the works. Some even speculated that the settlement would be a penny short of $25 million and we’d claim that as a victory. Funny how now that the AG office has spoken, most likely to calm all the attention it received during the day thanks to these same overly zealous critics; they have this new hope that things will go back to the way they were and YTB will be pounded into oblivion, never to be heard from again.
I don’t think our critics have been able to deduct, or simply want to ignore, that a hearing for the case is scheduled for next Tuesday April 14th in Los Angeles. In my update yesterday afternoon, I did inform everyone that the process would take about 5 business days to complete and then we can possibly have everything “finalized”. Since this came from the AG office, I would assume that everyone involved on both sides here will take this as “fact” since their article documented the hearing and not YTB.
So Tuesday, not September 21st, will be the day that the courts will hear about the tentative agreement and make a determination if California actually knows what they’re talking about.
That’s what our legal system is designed to do, and from what I’m able to gather, it was the legal system and the participants involved that got YTB to this point so quickly. (At least far better than September!) It’s out of YTB’s hands and Jerry’s hands right now. It’s up to the legal system, and honestly, with what I know about our model, I really like our chances. An opportunity to take all the emotion out of the equation and work through the process logically. Something critics have a hard time doing or even comprehending, and if nothing else I’m extremely grateful we have a chance to have things viewed and heard by people that have some wits about them.
I’ve grown extremely tired or the retoric and spin from the critics and it’s my hope (although a HUGE long shot) that this will put the entire matter to rest.
Always the optomist, aint I? ;-P
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