My newsletter subscribers got a heads up this weekend about an 8K filed late last week to announce the possibility of selling the YTB International Home Office. As expected, YTB continues to be a “hot topic” and we’ve seen various Google Alerts from news publications and two alerts from a blog surrounding the deal.

As we’ve come to expect, when YTB sneezes, some loones still end up catching a cold. I was asked if I actually read any of the Google Alerts, and I did read one from an area paper, and another from a travel publication. Fairly standard stuff, much like the 8K that was filed to the SEC by YTB International.

I don’t want to overstate the obvious here. This is pretty good news for the company and the growing field of Agents for several reasons. The deal will provide YTB International with immediate cash in hand of $2.8 million. Second, YTB will be staying right where they are, and lease 40,000 square feet they currently use. Third, the entire deal could infuse between $6 million and $7.1 million overall when it’s all said and done.

While terms of the sale are now just coming to light, a filing back in January informed investors that YTB International this was a possibility. An agreement with FH Partners who held the mortgage at the time had been re-worked by the lender in November 2010, but deemed unacceptable by YTB. At that time YTB filed a statement that they considered the terms unacceptable, and decided to go into default with FH Partners. In addtion, the company announced they had another deal in the works, and were confident an optional deal would be in place within 60 days.

Again – pretty standard stuff – but some of the conspiracy theories I heard about were quite dramatic. All some could focus on was “default” because that signaled the end was near. Not sure if they didn’t realize or simply hid the fact another deal was in the works to further their cause. Either way, they not only jumped the gun, but were wrong yet again.

With the proposed deal now out in the open – it has driven any remaining critics into a frenzy. Don’t have to read their words per se – mere actions in this case speak far louder than any meaningless yack squeeze. The increase in activity shows how nervous and distracted they are over everyone finding out YTB will have cash in hand. Any loone would realize that the hopes or dreams of YTB’s demise has been dashed once again.

You’d think they’d figure out that the conspiracy theories and drama they come with are actual fantasy and not fact. Of course if they did that – it would mean admitting they have an actual problem.

We can always hope.

On top of the news about the pending sale last week, YTB International released it’s Annual Report early this morning. With the kids getting ready for school, and 86 pages to read – honestly, I’ve only had enough time to glance at the filing. We cut losses in half to $1.6 million compared to 2009, and as expected from Q3 monthly subscribers have stabilized.

Since the sale of the home office isn’t final, the infusion of cash to YTB is not reported in this filing. (That would be illegal.)

Still not out of the woods just yet – but things are looking better after a constant barrage of attacks the past three years. You can kick, you punch, you can poke, but you can’t break this company. It’s just not in the cards.

I’ll take a closer look at the Annual Report and most likely have something for everyone on Thursday if interested. I have a new car to purchase in the next couple days since yours truly plowed into a deer in the middle of I-85 and totaled the car. (I’m okay, but our 300M and Bambi are most certainly not.)

Until then…

Update: Doing a little reading before I head out this morning.

Not sure if the deal for the Home Office closed or not, but according to the Annual Report, the loan to FH Partners is paid in full as of yesterday. ($1.5 million)

Also, no new word as yet on the Illinois suit filed back in 2009. We find the standard statement announced third quarter on the bottom of page 10 of the Annual Report.

On May 14, 2009, a civil action was filed against the Company, three of its subsidiaries and certain executive officers of the Company in the Superior Court of Illinois, Champaign County, by the Illinois Attorney General. The complaint alleges that the defendants violated Illinois’ unfair competition and advertising laws. The Company believes it has meritorious defenses to the claims. The Illinois Attorney General has proposed resolving the suit short of litigation. The Company is in the process of exchanging information with the Office of the Illinois Attorney General and exploring possible resolution alternatives.

Since that dog won’t hunt, look for some type of announcement this year that the company has the last remaining attack against it behind them.

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I had an opportunity last week to visit the home office of YTB International, Inc. Back in December, the company moved to a brand new location in Wood River, Illinois for Phase II of a three phase process. It was the second move in as many years and needed to be done in order to keep pace with the company’s growth and long term vision of being the number one Internet Travel Company in the world. After this visit, I would have to agree with this vision and am not only confident that YTB Travel Network will be number one in the next few years, but am also very proud to be a key part of YourTravelBiz.

After more than two years with the company, the company has always exceeded my expectations in what it said it was going to do and provide to those of us out in the field. Making it easier and better for those of us who want to build and create a future for ourselves if we just plug into the systems they have laid out for us. I can think of several improvements and advances over the years that have far exceeded expectations. This visit to the new home office was no different.

I have to admit, as I came up on the building, it was not what I had expected. Nobody told me that the renovations for Phase II only consisted of work done on the inside of the building. The outside was simply a shell of the old K-mart that had been abandoned some 10 years before. It wasn’t until I walked inside the building that I started to get a taste of the type of work that had been done and why people were so excited about what was being built. Here is a taste of what I found.

The main lobby was open and very modern. A couple of large LCD displays were found behind the front counter to display pictures of previous events from the National Convention, Coach’s Birthday Bash, and other Regional Trainings and events across the country. Another display produced a quad display of security cameras around the front, side and hallways inside the building. A large YTB International, Inc. logo is proudly displayed as you walking into the lobby area. (Just in case you didn’t know where you were.) The front counter was a white oak, and the floors covered in an ivory marble.

The entire complex was very modern and quit festive, including a couple of surf boards propped up in the windows of several of the Department Heads, one which included “Surfer Girl” just inside Sandy Pippins office, who happens to be not only YTB’s first employee, but has grown with the company as Vice President of Corporate Administration.

As the tour began, I realized just how many people at the home office actually support us out in the field. The facility is separated into different sections totaling 190 employees who specialize in departments which include, Representative Support, Travel Support, Travel Documentation, Travel Fulfillment, Travel Credentials, Marketing, IT, Legal, Payroll, Association and Corporate, and even a specialized department for those of us who speak Spanish. All these people dedicated to helping those of us out in the field to answer questions and provide the best support possible. To top it off, you got a strong cense that these people not only enjoy what they do, but are happy and eager to help us. And why not, the same Christmas Bonus is up for grabs this year for these employees as last year, tripling the end of the year bonus if they hit the magic number of 152,269.

After the tour, a lunch was served at the Gateway Center, just south of the home office. After the luncheon we had a chance to meet with Chairman of the Board ‘Coach’ Lloyd Tomer, YTB Travel Network President J. Kim Sorensen, and YourTravelBiz CEO Scott Tomer. We also heard from Andrew Cauthen, who joined the YTBI team in November 2004 as Chief Operating Officer of the YTB subsidiary. He was subsequently named President of YTB in October 2006, and on March 1, 2007 was named CEO of YTBI. John Clagg, our newly appointed Treasurer, also serves as Vice President and Chief Financial Officer of YTBI as well as its subsidiaries. He joined the Company in December 2003. Eric Smith, Chief Information Officer, the keeper of YTB’s massive IT infrastructure who joined the company in 2001. Ted Lindauer, Vice President of Legal and Regulatory Affairs and General Counsel, who has worked with the company since it’s inception in 2001, but recently closed his California practice to come work with YTB full time in the summer of 2006. The YTB management team is unified in one vision – commitment and support to it’s RTA’s and Reps.

After listening to each of these Department heads, I’m more confident than ever that YTBI is here for the duration, and committed to supporting myself, and my growing team. As I grow, YTB grows with me. YTB has increased its corporate staff from fewer than 30 employees in 2004 to 190 as of March 8. Plans include doubling this support staff to 400 by the end of 2007, and a total of 750 by year end 2009. With only one quarter of the new home office being finished at this point in time, that leaves another 100,000 square feet to house this support staff.

I thought I saw something in this company more than two years ago. In reality, it’s actually better than I thought it would ever be. YTB has always had a way of exceeding my expectations and I’m thrilled to see what’s happening to this company. Now more than ever!

PS - If you're involved with YTB, sign up for our FREE Newsletter. As a Website Owner or Website Seller, we'll keep you up to date with all the latest news, acquisitions, and developments with YTB.

PPS - Subscribe to the Just Picture It Now RSS feed, (including e-mail) for all the latest posts and updates found right here!

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