Postings by Anthony Stone
You may notice comments on this blog by Anthony Stone, I am trying to remove them because they are from a Timeshare Resale person and when you click on timeshare relief which is in the post, it takes you to their site. Stay away from them they will take your money and you will never hear from them again.
DO NOT
There are certain things you should not do or be aware of when dealing with timeshares and travel clubs:
DO NOT PAY FOR ANYONE TO LIST YOUR TIMESHARE FOR SALE
DO NOT PAY FOR A COMPANY TO RUN A TITLE SEARCH TO SELL YOUR TIMESHARE
DO NOT BELIEVE THAT THE TIMESHARE YOU ARE BUYING FROM A RESORT WILL BE ANY KIND OF FINANCIAL INVESTMENT - They will tell you it is, but any special add ons that you get for buying, will not transfer to a new owner. They want to sell to clients, they don't want you to sell yours and take a customer from them.
DO NOT THINK YOU WILL BE ABLE TO RENT YOUR TIMESHARE AND MAKE MONEY
DO NOT BELIEVE YOU CAN ONLY BUY "TODAY"
DO NOT BELIEVE YOU WILL NOT GET HIT WITH A SPECIAL ASSESSMENT AT SOME POINT. The resort will become run down and you will pay your part to rebuild.
DO NOT THINK A TRAVEL CLUB MEMBERSHIP WILL SAVE YOU 50 TO 80% OFF TRAVEL.
STAYING IN A NICE BEAUTIFUL CONDO DOESN'T SUCK BUT IT IS NOT AS MONEY SAVING AS YOU ARE BEING LED TO BELIEVE.
DO NOT PAY FOR ANYONE TO LIST YOUR TIMESHARE FOR SALE
DO NOT PAY FOR A COMPANY TO RUN A TITLE SEARCH TO SELL YOUR TIMESHARE
DO NOT BELIEVE THAT THE TIMESHARE YOU ARE BUYING FROM A RESORT WILL BE ANY KIND OF FINANCIAL INVESTMENT - They will tell you it is, but any special add ons that you get for buying, will not transfer to a new owner. They want to sell to clients, they don't want you to sell yours and take a customer from them.
DO NOT THINK YOU WILL BE ABLE TO RENT YOUR TIMESHARE AND MAKE MONEY
DO NOT BELIEVE YOU CAN ONLY BUY "TODAY"
DO NOT BELIEVE YOU WILL NOT GET HIT WITH A SPECIAL ASSESSMENT AT SOME POINT. The resort will become run down and you will pay your part to rebuild.
DO NOT THINK A TRAVEL CLUB MEMBERSHIP WILL SAVE YOU 50 TO 80% OFF TRAVEL.
STAYING IN A NICE BEAUTIFUL CONDO DOESN'T SUCK BUT IT IS NOT AS MONEY SAVING AS YOU ARE BEING LED TO BELIEVE.
Special Assessments
The fire at Silverleaf's Oak n Spruce should be a concern for all of Silverleaf's points owners. As part of the points program you can be assessed to rebuild the fire damaged units.
If you are a deed owner you are safe because you can only be assessed if you have your deed at Oak n Spruce.
Another concern should be all the Silverleaf Resorts that are part of the pet friendly policy, it's OK if you own a pet but should you really be assessed for someone else's pet. Her is a list of Silverleaf Pet Friendly Resorts:
– Silverleaf’s Fox River Resort – Sheridan, Illinois, United States
– Silverleaf’s Hill Country Resort – Canyon Lake, Texas, United States
– Silverleaf’s Holiday Hills – Branson, Missouri, United States
– Silverleaf’s Holly Lake Ranch – Holly Lake Ranch, Texas, United States
– Silverleaf’s Lake O’ the Woods – Flint, Texas, United States
– Silverleaf’s Oak ‘n Spruce – South Lee, Massachusetts, United States
– Silverleaf’s Ozark Mountain Resort – Kimberling City, Missouri, United States
– Silverleaf’s Piney Shores Resort – Conroe, Texas, United States
– Silverleaf’s Seaside Resort – Galveston, Texas, United States
– Silverleaf’s Timber Creek Resort – Desoto, Missouri, United States
– Silverleaf’s Villages – Flint, Texas, United States
If you are a deed owner you are safe because you can only be assessed if you have your deed at Oak n Spruce.
Another concern should be all the Silverleaf Resorts that are part of the pet friendly policy, it's OK if you own a pet but should you really be assessed for someone else's pet. Her is a list of Silverleaf Pet Friendly Resorts:
– Silverleaf’s Fox River Resort – Sheridan, Illinois, United States
– Silverleaf’s Hill Country Resort – Canyon Lake, Texas, United States
– Silverleaf’s Holiday Hills – Branson, Missouri, United States
– Silverleaf’s Holly Lake Ranch – Holly Lake Ranch, Texas, United States
– Silverleaf’s Lake O’ the Woods – Flint, Texas, United States
– Silverleaf’s Oak ‘n Spruce – South Lee, Massachusetts, United States
– Silverleaf’s Ozark Mountain Resort – Kimberling City, Missouri, United States
– Silverleaf’s Piney Shores Resort – Conroe, Texas, United States
– Silverleaf’s Seaside Resort – Galveston, Texas, United States
– Silverleaf’s Timber Creek Resort – Desoto, Missouri, United States
– Silverleaf’s Villages – Flint, Texas, United States
Ex-travel club owners in Branson get federal prison terms for evading taxes
SPRINGFIELD, Mo. – Three men from Branson received federal prison sentences and orders to make substantial restitutions for evading federal income taxes when they ran a travel business in Branson in the early 2000s. They learned their sentences on Wednesday after pleading guilty several months ago.
David Large received a one-year sentence and must pay $198,517 in restitution. Denver Wood received a two-year sentence and must pay $181,103 in restitution. His father, Thomas Wood, received an 18-month sentence and must pay $198,517 in restitution.
The travel club is Vacation Services of America
David Large received a one-year sentence and must pay $198,517 in restitution. Denver Wood received a two-year sentence and must pay $181,103 in restitution. His father, Thomas Wood, received an 18-month sentence and must pay $198,517 in restitution.
The travel club is Vacation Services of America
No Timeshare or Class Action
A lot of timeshare owners are putting together class action lawsuits against the resorts, something to be aware of is the time it will take to actually get through the lawsuit. These companies have lawyers that are paid to drag the lawsuit out as long as possible, and we are talking years, in the meantime you are still paying your monthly payments and annual dues.
I have spoken to several owners who sued their resorts and after years of court dates and having to separate the members of the class action because of different buying circumstances then refiling, in the end their attorneys will tell the members to settle on a smaller amount, then the timeshare owners will have to pay the lawyers up to 40% of the lawsuit settlement.
Some cases will need to go through the court system to find a settlement of any kind, but in the end it can be disappointing. No Timeshare cannot help everyone, but if I can then we will get you out of the contract and your money refunded without taking years or taking advantage of you by asking for a high commission.
Email us for a questionnaire, notimeshare@gmail.com
Timeshare Hell
So a timeshare salesman dies and is standing at the pearly gates waiting to enter heaven. In front of him in line are a congressman and a lawyer.
The congressman walks up to St Peter and St Peter says, “You lied to people and misled the masses for your entire life. You thought of no one but yourself so unfortunately because of your ways on earth, I have no option but to send you to hell”. St peter snaps his fingers and poof the congressman is sent to hell.
Next, up walks the lawyer, “You also were dishonest and unfaithful, you hurt the ones who trusted you most so again I have no option but to send you to hell". St Peter again snaps his fingers and poof the lawyer is sent to hell.
The timeshare salesman not feeling too good about his odds steps up to St. Perter and says "So, where do I go?"
“Well," says St. Perter looking at the book. "It says here that you sold timeshare to people your entire life. You gave people choices for their vacation dollars so its only fair that you get a choice as well. You can choose to go to heaven or you can choose to go to hell but first I'm going to show you your options." St Peter snapped his fingers and instantly they were in hell.
Hell was beautiful; nothing like he expected. He saw all his friends from earth and they were having a party, eating steak, and drinking wine, laughing, having a good time telling stories about earth. It was the best time he ever had. Soon St Peter says “Well, time's up”. He snaps his fingers and instantly they are in heaven.
Heaven is gorgeous and everyone is on their knees worshiping God, singing praises, and praying for forgiveness over and over. He really feels loved and contented. “Time's up.” Says St. Peter as he snaps his fingers transporting them instantly back to the pearly gates. "So which is it?" St Peter asks.
"Well, I never thought I'd ever say this but I think I'm going to go with hell. I had so much fun there."
"So be it." Says St Peter as he snaps his finger sending him to hell.
The timeshare salesman is chained to hot stone, he's surrounded by fire and brimstone , blood curdling screams.
The timeshare salesman is chained to hot stone, he's surrounded by fire and brimstone , blood curdling screams.
"Hey, there must be a mistake!" The timeshare salesman screams up to St. Peter. "What is this?! This isn't the same as last time I was here!"
St. Peter calls back down to to timeshare salesman, "I never promised you that."
The timeshare salesman looks wide-eyed at the devil who just laughs and says, "You must have taken the tour."
The timeshare salesman looks wide-eyed at the devil who just laughs and says, "You must have taken the tour."
Outrigger travel club continues to snare consumers
an unfortunate couple from Connecticut who wrote me to say they were pressured into buying a travel club membership on July 10 in Mystic, Conn., for more than $3,000. They later realized that they could not access a website with the great travel deals as they were promised, called the local police
By that point, Attorney General Martha Coakley had already obtained temporary restraining orders against alleged scammers who were doing business in Massachusetts under the names Outrigger Vacation Club, Fantasia Travel Group and Only Way 2 Go Travel (the operators of these “companies” didn’t return any of my calls, a telling sign that things probably aren’t on the up-and-up).
Coakley’s complaint alleges that Outrigger, affiliates and principals would host sales pitches in Plymouth and Methuen to sell Outrigger memberships. Consumers were lured in the door with the promise of free airline tickets or gift cards. They were then told they could get a great price on a lifetime membership in this travel club if they acted right away. But many people never received anything of value for the thousands of dollars they paid.
The operators’ high-pressure tactics apparently worked: About 75 people complained to the AG that they lost money before Coakley filed charges on July 1. Another 65 have complained since that date, largely because of the ensuing publicity. Coakley is still looking for more complaints (the AG’s consumer hotline is 617-727-8400).
Coakley is trying to seize the operators’ assets to build a restitution fund. Lawyers in Coakley’s staff are slated to go to Suffolk Superior Court on July 22 in an effort to convert a temporary restraining order against the operators to a longer-lasting preliminary injunction.
However, a spokeswoman for Coakley tells me the AG’s actions will only directly help those who lost money from a sales pitch that took place in Massachusetts. That’s why the sales pitches could be continuing in other states (such as Connecticut) despite the court actions here.
Obviously, this whole episode is an unfortunate reminder that if something sounds too good to be true, it probably is. When a salesperson tells you that you need to decide on the spot to get a deal, the pitch may still be legitimate. But the tactic is shifty enough that you may want to take your business elsewhere.
Coakley’s complaint alleges that Outrigger, affiliates and principals would host sales pitches in Plymouth and Methuen to sell Outrigger memberships. Consumers were lured in the door with the promise of free airline tickets or gift cards. They were then told they could get a great price on a lifetime membership in this travel club if they acted right away. But many people never received anything of value for the thousands of dollars they paid.
The operators’ high-pressure tactics apparently worked: About 75 people complained to the AG that they lost money before Coakley filed charges on July 1. Another 65 have complained since that date, largely because of the ensuing publicity. Coakley is still looking for more complaints (the AG’s consumer hotline is 617-727-8400).
Coakley is trying to seize the operators’ assets to build a restitution fund. Lawyers in Coakley’s staff are slated to go to Suffolk Superior Court on July 22 in an effort to convert a temporary restraining order against the operators to a longer-lasting preliminary injunction.
However, a spokeswoman for Coakley tells me the AG’s actions will only directly help those who lost money from a sales pitch that took place in Massachusetts. That’s why the sales pitches could be continuing in other states (such as Connecticut) despite the court actions here.
Obviously, this whole episode is an unfortunate reminder that if something sounds too good to be true, it probably is. When a salesperson tells you that you need to decide on the spot to get a deal, the pitch may still be legitimate. But the tactic is shifty enough that you may want to take your business elsewhere.
FOX 8 Defenders: Travel company doesn't deliver on promises
New Orleans - Many of us are looking forward to vacations as summer kicks into high gear. But as we plan our getaways, others are plotting too.
The FOX 8 Defenders and the National Council of Jewish Women are getting complaints about everything from mis-leading travel deals to full-fledged scams.
Three different consumers have called the FOX 8 Defenders for help dealing with the same company, an adventure travel outfit that may be offering deals too good to be true.
Every year, people across the world lose millions in travel related scams or vacation packages with hefty, hidden catches aimed at folks looking for a great deal.
The FOX 8 Defenders are trying to help three people who bought into a company called Festiva offering deals like a seven day Caribbean cruise that members would pay just nine dollars for, a savings of 63 percent.
Also offered is a week at a two bedroom Florida condo that most people would pay $899 for, but members could get for just $49 a week. Each one of these people says Festiva initially contacted them, saying they were winners.
All three of the consumers say they were told to come to an office in One Canal Place to receive a free prize. But when they arrived, all three say what they received was a high pressured sales pitch.
All three consumers bought in, signing contracts agreeing to buy memberships worth about $8,000. All three now want their money back, complaining they've not only been hit with surprise fees, but they've also never been able to redeem those free gifts or any of the vacation deals they were told about in the sales pitch.
The Better Business Bureau says, with some companies, that free gift can be a warning sign of problems to come.
After repeatedly calling but getting no answer, the Defenders went up to Festiva's sales office in Canal Place looking for answers. No one was there, but the hallway door was open and the office appeared ready for business with presentation rooms set up and advertisements touting Festiva's vacation getaways.
After multiple tries, the Defenders finally reached someone at Festiva's corporate office who explained Festiva uses third party vendors for many services like those promised "free" gifts.
Festiva says it will review the individual details of each of our consumers' complaints to see if there's been a mis-understanding.
The BBB recommends people always pay with a credit card when purchasing travel packages. Most credit card companies offer the consumer a chance to dispute the charges if the services are never received.
If you have a consumer problem, call the FOX 8 Defenders at 1-877-670-6397.
The FOX 8 Defenders and the National Council of Jewish Women are getting complaints about everything from mis-leading travel deals to full-fledged scams.
Three different consumers have called the FOX 8 Defenders for help dealing with the same company, an adventure travel outfit that may be offering deals too good to be true.
Every year, people across the world lose millions in travel related scams or vacation packages with hefty, hidden catches aimed at folks looking for a great deal.
The FOX 8 Defenders are trying to help three people who bought into a company called Festiva offering deals like a seven day Caribbean cruise that members would pay just nine dollars for, a savings of 63 percent.
Also offered is a week at a two bedroom Florida condo that most people would pay $899 for, but members could get for just $49 a week. Each one of these people says Festiva initially contacted them, saying they were winners.
All three of the consumers say they were told to come to an office in One Canal Place to receive a free prize. But when they arrived, all three say what they received was a high pressured sales pitch.
All three consumers bought in, signing contracts agreeing to buy memberships worth about $8,000. All three now want their money back, complaining they've not only been hit with surprise fees, but they've also never been able to redeem those free gifts or any of the vacation deals they were told about in the sales pitch.
The Better Business Bureau says, with some companies, that free gift can be a warning sign of problems to come.
After repeatedly calling but getting no answer, the Defenders went up to Festiva's sales office in Canal Place looking for answers. No one was there, but the hallway door was open and the office appeared ready for business with presentation rooms set up and advertisements touting Festiva's vacation getaways.
After multiple tries, the Defenders finally reached someone at Festiva's corporate office who explained Festiva uses third party vendors for many services like those promised "free" gifts.
Festiva says it will review the individual details of each of our consumers' complaints to see if there's been a mis-understanding.
The BBB recommends people always pay with a credit card when purchasing travel packages. Most credit card companies offer the consumer a chance to dispute the charges if the services are never received.
If you have a consumer problem, call the FOX 8 Defenders at 1-877-670-6397.
FOX 8 Defenders: Investigation launched into travel company
After the FOX 8 Defenders first report featured three consumers who allege Festiva Adventure Travel scammed them, 15 more complaints, all mirroring the originals, came to the Defender's attention.
In October 2009, Ronald Dwyer says he received a phone call from Festiva that intrigued him.
"When they contacted me, they told me I had one of three prizes; A Ford Explorer, a 42 inch TV or a seven day cruise," Dwyer recalled.
Hoping they'd won the SUV, Dwyer and his wife came to Festiva's offices in One Canal Place to claim their prize.
"The first thing they asked me was if I had a major credit card. I didn't know what I needed a credit card for. I just came to see if I won a prize," said Dwyer.
Dwyer says he ended up sitting through a Festiva vacation plan explanation lasting several hours.
"It's a high pitch sale. They usher you from one room to another room trying to get you to sign something because they sweeten the deal, you know."
Eventually, Dwyer signed the deal to finance a vacation plan after he says he was offered one more free gift.
"Another guy came in there and he says this is what we can do. We can give you a cruise for three days free," Dwyer says.
At 17 percent interest, Dwyer put $1,600 on a credit card, then agreed to pay monthly payments of $134. His membership is for 40 years. two months later, Dwyer says he received a bill for a maintenance fee which he says he was never told about.
"I'm like, I haven't even gone anywhere. What's the maintenance fee? What are y'all maintaining?" Dwyer wondered.
Dwyer also says he either never received or was never able to use his free gifts, so he tried to contact Festiva.
"I wasn't able to talk to anyone. That's another problem I had with them. When you call, you just get an answering service. You wind up just talking to machines. I'm like, this ain't getting nowhere and that's when I contacted the FOX 8 Defenders."
It turns out the FOX 8 Defenders aren't the only ones looking into Festiva.
Louisiana's Assistant Attorney General David Caldwell says his office's consumer protection division has opened a civil investigation into Festiva as well as attornery's general offices in seven other states.
Caldwell says a confidentiality agreement bars him from disclosing the specifics of the investigations, but that it, like all civil investigations, seeks to make those who have filed complaints whole.
But Caldwell isn't stopping there.
He's also opening a criminal investigation into Festiva to determine if there's been any theft by fraud.
In a written response, Festiva says these are false allegations and that its sales staff goes to "great length to ensure out interactions with consumers are fair and accurate."
Festiva says an internal survey shows customer satisfaction in the New Orleans sales site is above 95 percent.
Festiva says it carefully reviews every customer complaint. The Festiva staff determined Mr. Dwyer did not have a legitimate complaint.
Meantime, the Louisiana Attorney General's office would like to hear from you if you have a complaint against Festiva.
If you have a consumer problem, call the FOX 8 Defenders at 1-877-670-6397.
In October 2009, Ronald Dwyer says he received a phone call from Festiva that intrigued him.
"When they contacted me, they told me I had one of three prizes; A Ford Explorer, a 42 inch TV or a seven day cruise," Dwyer recalled.
Hoping they'd won the SUV, Dwyer and his wife came to Festiva's offices in One Canal Place to claim their prize.
"The first thing they asked me was if I had a major credit card. I didn't know what I needed a credit card for. I just came to see if I won a prize," said Dwyer.
Dwyer says he ended up sitting through a Festiva vacation plan explanation lasting several hours.
"It's a high pitch sale. They usher you from one room to another room trying to get you to sign something because they sweeten the deal, you know."
Eventually, Dwyer signed the deal to finance a vacation plan after he says he was offered one more free gift.
"Another guy came in there and he says this is what we can do. We can give you a cruise for three days free," Dwyer says.
At 17 percent interest, Dwyer put $1,600 on a credit card, then agreed to pay monthly payments of $134. His membership is for 40 years. two months later, Dwyer says he received a bill for a maintenance fee which he says he was never told about.
"I'm like, I haven't even gone anywhere. What's the maintenance fee? What are y'all maintaining?" Dwyer wondered.
Dwyer also says he either never received or was never able to use his free gifts, so he tried to contact Festiva.
"I wasn't able to talk to anyone. That's another problem I had with them. When you call, you just get an answering service. You wind up just talking to machines. I'm like, this ain't getting nowhere and that's when I contacted the FOX 8 Defenders."
It turns out the FOX 8 Defenders aren't the only ones looking into Festiva.
Louisiana's Assistant Attorney General David Caldwell says his office's consumer protection division has opened a civil investigation into Festiva as well as attornery's general offices in seven other states.
Caldwell says a confidentiality agreement bars him from disclosing the specifics of the investigations, but that it, like all civil investigations, seeks to make those who have filed complaints whole.
But Caldwell isn't stopping there.
He's also opening a criminal investigation into Festiva to determine if there's been any theft by fraud.
In a written response, Festiva says these are false allegations and that its sales staff goes to "great length to ensure out interactions with consumers are fair and accurate."
Festiva says an internal survey shows customer satisfaction in the New Orleans sales site is above 95 percent.
Festiva says it carefully reviews every customer complaint. The Festiva staff determined Mr. Dwyer did not have a legitimate complaint.
Meantime, the Louisiana Attorney General's office would like to hear from you if you have a complaint against Festiva.
If you have a consumer problem, call the FOX 8 Defenders at 1-877-670-6397.
Robbery at Westage Resort in Branson, MO
Remember when you were on tour and the salesperson assured you the resort was secure and safe?
This is from KY3TV in Springfield, MO
BRANSON, Mo., -- Branson police are investigating a report of an armed robbery at the Westgate Resort, on 220 Roark Valley Road, that happened early yesterday morning.
Police say a man with a T-shirt around his face approached three people sitting at a picnic table around 2:15a.m.
According to police, the suspect displayed a handgun and told the victims to leave the area and leave their belongings behind. He took a woman's purse and electronics that included an iPod and cellphone.
This is from KY3TV in Springfield, MO
BRANSON, Mo., -- Branson police are investigating a report of an armed robbery at the Westgate Resort, on 220 Roark Valley Road, that happened early yesterday morning.
Police say a man with a T-shirt around his face approached three people sitting at a picnic table around 2:15a.m.
According to police, the suspect displayed a handgun and told the victims to leave the area and leave their belongings behind. He took a woman's purse and electronics that included an iPod and cellphone.
$40 Dollar Gas Card Gift
Resorts are calling on people and promising them a $40 Gas Card for sitting through a 90 minute presentation. If only it were that simple, first off the 90 minute presentation lasts 3 to 4 hours, then when it comes time for the gas card you instead get a certificate, where you put ten dollars in your gas tank, mail the certificate in and the gas receipt and they will send you a ten dollars gas card. This goes on until you have redeemed the 40 dollars. Most people send off for maybe one and then it's forgotten. Hmmm you think that's what they count on? A lot of people drive to the resort expecting the $40 for gas to get back home, well be prepared the resort doesn't care and they claim they have nothing to do with it. Lie, they know exactly what will happen at the end of the tour, and will laugh about it. Do not rely on having an extra 40 bucks to get you back home.
Does Bluegreen Miss the Grade?
Margins matter. The more Bluegreen (NYSE: BXG ) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders. Healthy margins often separate pretenders from the best stocks in the market. That's why we check up on margins at least once a quarter in this series. I'm looking for the absolute numbers, comparisons to sector peers and competitors, and any trend that may tell me how strong Bluegreen's competitive position could be.
Here's the current margin snapshot for Bluegreen and some of its sector and industry peers and direct competitors.
Of course, over the short term, the kind of economic shocks we recently experienced can drastically affect a company's profitability. That's why I like to look at five fiscal years' worth of margins, along with the results for the trailing 12 months, the last fiscal year, and last fiscal quarter. You can't always reach a hard conclusion about your company's health, but you can better understand what to expect, and what to watch.
Here's the margin picture for Bluegreen over the past few years.
If you take the time to read past the headlines and crack a filing now and then, you're probably ahead of 95% of the market's individual investors. To stay ahead, learn more about how I use analysis like this to help me uncover the best returns in the stock market. Got an opinion on the margins at Bluegreen? Let us know in the comments below.
Here's the current margin snapshot for Bluegreen and some of its sector and industry peers and direct competitors.
Company | TTM Gross Margin | TTM Operating Margin | TTM Net Margin |
---|---|---|---|
Bluegreen | 75.8% | 19.1% | (8.8%) |
Walt Disney (NYSE: DIS ) | 19.0% | 19.0% | 11.2% |
Wyndham Worldwide (NYSE: WYN ) | 51.5% | 19.6% | 10.2% |
Marriott International (NYSE: MAR ) | 12.7% | 6.8% | 4.0% |
Source: Capital IQ, a division of Standard & Poor's. TTM = trailing 12 months.
Unfortunately, that table doesn't tell us much about where Bluegreen has been, or where it's going. A company with rising gross and operating margins often fuels its growth by increasing demand for its products. If it sells more units while keeping costs in check, its profitability increases. Conversely, a company with gross margins that inch downward over time is often losing out to competition, and possibly engaging in a race to the bottom on prices. If it can't make up for this problem by cutting costs -- and most companies can't -- then both the business and its shares face a decidedly bleak outlook.Of course, over the short term, the kind of economic shocks we recently experienced can drastically affect a company's profitability. That's why I like to look at five fiscal years' worth of margins, along with the results for the trailing 12 months, the last fiscal year, and last fiscal quarter. You can't always reach a hard conclusion about your company's health, but you can better understand what to expect, and what to watch.
Here's the margin picture for Bluegreen over the past few years.
Source: Capital IQ, a division of Standard & Poor's. Dollar amounts in millions. FY = fiscal year. TTM = trailing 12 months.
Because of seasonality in some businesses, the numbers for the last period on the right -- the TTM figures -- aren't always comparable to the FY results preceding them. Here's how the stats break down:- Over the past five years, gross margin peaked at 76.5% and averaged 69.6%. Operating margin peaked at 17% and averaged 13.4%. Net margin peaked at 4.7% and averaged -0.8%.
- TTM gross margin is 75.8%, 620 basis points better than the five-year average. TTM operating margin is 19.1%, 570 basis points better than the five-year average. TTM net margin is -8.8%, 800 basis points worse than the five-year average.
If you take the time to read past the headlines and crack a filing now and then, you're probably ahead of 95% of the market's individual investors. To stay ahead, learn more about how I use analysis like this to help me uncover the best returns in the stock market. Got an opinion on the margins at Bluegreen? Let us know in the comments below.
Diamond Resorts Sends In Debt Collectors
“Daniels Silverman” may well be the two words that Diamond Resorts holiday club members detest more than “Diamond Resorts” these days.
Daniels Silverman, a debt collection company, was brought in by Diamond Resorts to attempt to force members of the club into paying the escalating annual management fees. However, it appears that the company is still encountering difficulties in this goal, as the number of Diamond Resorts members that are refusing to pay the fees still persist, with the potential to increase.
“They have had enough from us over the years,” said Anne Lawreson, who has seen her annual fees spike from $375.81 annually to $1,157.10. “We were told when we bought the points that we would get two weeks anywhere. We have only ever managed to get one week and never where we wanted.”
Barry and Anne Payne are also being hounded by Daniels Silverman for their outstanding Diamond Resorts fees, amounting to $6,336. “They claim that they have the right to demand any amount, as often as they want, and no one may resign.”
John and Wilma Sutherland, from Edinburgh, attempted to opt out of the club after John suffered a stroke, heart problems and had knee and hip replacement surgery. Rather than allow them to, Diamond merely reduced the demand for unpaid fees from $4,875 to $3,899.
“We tried many times over the past years to book UK holidays and have never been successful as they are constantly booked up,” Wilma said.
“It’s not can’t pay, it’s won’t pay – not when the rules were changed so blatantly,” Chris Skelton says.
Diamond Resorts, a US-owned firm, claims that annual fees are affected by a number of factors that fall outside of their control, including tax rates and exchange rates. They have also announced they have no intent on backing down on payment demands.
In response to claims that the club refuses to allow members to surrender their points, they claimed that membership “is a long-term commitment.”
As for difficulties with booking holidays, their response was: “We always try to accommodate a guest’s request for a specific location and a specific time frame, but reservations are accepted on a first-come, first-served basis.”
Finally, when Daniels Silverman was asked whether or not the possibility of legal action was merely a bluff or was a legitimate option on the table, they merely said that “we don’t comment on individual cases.”
Daniels Silverman, a debt collection company, was brought in by Diamond Resorts to attempt to force members of the club into paying the escalating annual management fees. However, it appears that the company is still encountering difficulties in this goal, as the number of Diamond Resorts members that are refusing to pay the fees still persist, with the potential to increase.
“They have had enough from us over the years,” said Anne Lawreson, who has seen her annual fees spike from $375.81 annually to $1,157.10. “We were told when we bought the points that we would get two weeks anywhere. We have only ever managed to get one week and never where we wanted.”
Barry and Anne Payne are also being hounded by Daniels Silverman for their outstanding Diamond Resorts fees, amounting to $6,336. “They claim that they have the right to demand any amount, as often as they want, and no one may resign.”
John and Wilma Sutherland, from Edinburgh, attempted to opt out of the club after John suffered a stroke, heart problems and had knee and hip replacement surgery. Rather than allow them to, Diamond merely reduced the demand for unpaid fees from $4,875 to $3,899.
“We tried many times over the past years to book UK holidays and have never been successful as they are constantly booked up,” Wilma said.
“It’s not can’t pay, it’s won’t pay – not when the rules were changed so blatantly,” Chris Skelton says.
Diamond Resorts, a US-owned firm, claims that annual fees are affected by a number of factors that fall outside of their control, including tax rates and exchange rates. They have also announced they have no intent on backing down on payment demands.
In response to claims that the club refuses to allow members to surrender their points, they claimed that membership “is a long-term commitment.”
As for difficulties with booking holidays, their response was: “We always try to accommodate a guest’s request for a specific location and a specific time frame, but reservations are accepted on a first-come, first-served basis.”
Finally, when Daniels Silverman was asked whether or not the possibility of legal action was merely a bluff or was a legitimate option on the table, they merely said that “we don’t comment on individual cases.”
Timeshare Scammers Rough Up Canadian Family in Mexico
A family from Winnipeg was allegedly terrorized by timeshare scammers while on vacation in Mexico’s Puerto Vallarta coast, the Toronto Sun recently reported.
According to the wife, identified only by her first name “Sue”, the family was strolling along the area’s famous beachside boardwalk, fronting the Pacific Ocean, when they were approached by a man who offered a $300 “gift” to attend a timeshare presentation.
According to the man, he was a representative of the resort where the family was staying, and convinced the family to attend the talk. They were given then given $230, with the rest to be given after the presentation.
However, the family soon learned that the talk wasn’t about timeshares . According to Sue, “These gentlemen went on to explain that it wasn’t (timeshares) … these are condominiums that are being sold to potential residents who want to live here or tourists who want to come for the winter.”
The couple then said they wouldn’t be making a purchase. However, they were told to return the cash gift “because that’s how the staff made a living”. When the family started walking away, the men followed.
“He came in a white pickup truck, pretty much drove in front of us to keep us from walking down this hill, pretty much blocking our way, got out and was yelling profanities at us and calling us every name known to man, in front of our seven-year-old daughter,” Sue said.
In an interview with a local media channel, she recalled being scared and handing over $150. “We’ve done nothing wrong but here’s ($150) back. We think that is more than fair considering we’ve been lied to, you’re scaring my daughter, you’re scaring me.”
The man took the cash and left. However, the scammers weren’t done with the terrified family of three yet. Moments later, a black pickup truck pulled up and another, larger man got out.
“(He) rushed straight for my husband, grabbed his shirt, twisted it up by his neck, grabbed his throat and told that him he would die if he didn’t give the money back, and that his family was going to go to prison and that he (the man) worked for the police,” Sue said.
She stepped in and handed over the rest of the money. Fortunately, the second man was satisfied and left without asking anything else. Eventually, the family found a bus stop and was able to return to their resort.
While timeshare scams are a dime a dozen, this is apparently the first time timeshares were used to misrepresent a company offering full ownership, rather than fractional shares.
According to Sue, the incident was traumatic enough that it ruined the family’s vacation, nor any chances of returning.
“The taste for Mexico is definitely lost. I don’t think I’ll be going back.”
According to the wife, identified only by her first name “Sue”, the family was strolling along the area’s famous beachside boardwalk, fronting the Pacific Ocean, when they were approached by a man who offered a $300 “gift” to attend a timeshare presentation.
According to the man, he was a representative of the resort where the family was staying, and convinced the family to attend the talk. They were given then given $230, with the rest to be given after the presentation.
However, the family soon learned that the talk wasn’t about timeshares . According to Sue, “These gentlemen went on to explain that it wasn’t (timeshares) … these are condominiums that are being sold to potential residents who want to live here or tourists who want to come for the winter.”
The couple then said they wouldn’t be making a purchase. However, they were told to return the cash gift “because that’s how the staff made a living”. When the family started walking away, the men followed.
“He came in a white pickup truck, pretty much drove in front of us to keep us from walking down this hill, pretty much blocking our way, got out and was yelling profanities at us and calling us every name known to man, in front of our seven-year-old daughter,” Sue said.
In an interview with a local media channel, she recalled being scared and handing over $150. “We’ve done nothing wrong but here’s ($150) back. We think that is more than fair considering we’ve been lied to, you’re scaring my daughter, you’re scaring me.”
The man took the cash and left. However, the scammers weren’t done with the terrified family of three yet. Moments later, a black pickup truck pulled up and another, larger man got out.
“(He) rushed straight for my husband, grabbed his shirt, twisted it up by his neck, grabbed his throat and told that him he would die if he didn’t give the money back, and that his family was going to go to prison and that he (the man) worked for the police,” Sue said.
She stepped in and handed over the rest of the money. Fortunately, the second man was satisfied and left without asking anything else. Eventually, the family found a bus stop and was able to return to their resort.
While timeshare scams are a dime a dozen, this is apparently the first time timeshares were used to misrepresent a company offering full ownership, rather than fractional shares.
According to Sue, the incident was traumatic enough that it ruined the family’s vacation, nor any chances of returning.
“The taste for Mexico is definitely lost. I don’t think I’ll be going back.”
Royal Holiday News
BBB Gives Royal Holiday Club an “A” Rating
The Royal Holiday Club’s service rating has recently been upgraded to an “A” by the Better Business Bureau of Southeast Florida and the Caribbean (BBB). According to the BBB’s evaluation, the company now ranks between the 94th and 97th percentiles. This shows the bureau’s confidence in Royal Holiday’s operations, including immediate solutions to customer complaints.The high rating is based on the assessment of 17 different aspects of the company’s system, including the kind, volume and immediate resolution of complaints.
According to Enrique Aguirre, Royal Holiday’s Chief Quality Officer, “Our members rely on Royal Holiday to provide an unforgettable vacation experience, and this top rating from the BBB reflects the significant work we’ve done to exceed these expectations. We are pleased that our staff’s dedication to quickly and thoroughly resolve customer concerns has been recognized with consistent BBB rating upgrades over the past year. Going forward, everyone at Royal Holiday is committed to maintaining this ‘A’ rating as we provide our customers with the highest levels of service.”
Royal Holiday, a BBB accredited business, is planning on expanding its Quality Assurance department and is implementing new procedures to easily monitor and respond to customer feedback.
The company also plans to include new features to its vacation offerings, with 10 new properties built in 2010 and a revamped cruise program with a wider range of options for vacationers.
Posted by Isabelle Ulanday on Feb 10 2011 Filed under Timeshare News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.
2 Comments for “BBB Gives Royal Holiday Club an “A” Rating”
- Anthony PerraultApril 11, 2011 - 7:01 pmIf this is true the BBB’s have been paid off. Do a google search on “complaints Royal Holiday club” and you will find over 100,000 entries. All have been lied to, scammed out of their money, hounded by collection agents, and bitter about the whole deal. My rating is “Z ” and I rank them “keep your money and stay the hell away from them”.Well-loved. Like or Dislike: 4 0
- CindyApril 20, 2011 - 10:31 amI agree. There is absolutely no way this company can have this kind of rating. As one of their “victims” I can attest to the fact that none of the above is true. As the previous poster said, all you have to do is google them and you will find an endless array of complaints. I also concur with the last comment in Mr Perrault’s post.
Embarrassing for Wyndham
* Libya's UK revenues overseen by Treasury
* Russell & Bromley, Monsoon also in building
By Henning Gloystein
LONDON, June 1 (Reuters) - Conoco Phillips (COP.P) and energy trading
firm Trafigura are among the big-name tenants in a London building
owned by the Libyan government where European sanctions now mean the
rent goes to the UK Treasury.
Portman House, on London's Oxford Street famed for its shopping, was
bought by the Libyan Arab Foreign Investment Company (LAFICO) in 2009.
Trafigura said that the Treasury's Asset Freezing Unit was operating
it in the wake of EU sanctions against various Libyan state-run firms.
"In short, the rent and accounts are overseen by HM Treasury,"
Trafigura said in a written statement to Reuters.
The Treasury was not immediately available for comment.
Along with U.S. energy company Conoco Phillips and Trafigura, fashion
retailers Russell & Bromley and Monsoon MSN.mGBP are also tenants.
In March, the European Commission and U.S. government placed
"restrictive measures" on LAFICO, which froze income and dividends
from some holdings in the European Union and United States.
The EC legislative document from March 11 states that LAFICO, also
known as the Libyan Investment Authority, is under the control of
Libyan leader Muammar Gaddafi and his family and is a "potential
source of funding for his regime".
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^^^^^^^^^^^^^^^^^^^^^^^^^^^ Factbox on
Libyan stakes in European bluechips: [ID:nLDE72724Y] Factbox on Libyan
investments in Africa: [ID:nLDE7271J4] Libya oil chief defects to
Italy: [ID:nLDE75031M]
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ^^^^^^^^^^^^^^^^^^^^^^^^^^^
LAFICO subsidiary Kinloss Property Ltd bought the building from Land
Securities (LAND.L) for 155 million pounds ($254.3 million).
A spokesman for Conoco Phillips said the firm only dealt with a London-
based property management firm in charge of the building.
James Andrew RSW, which manages the building for Conoco Phillips, was
not immediately available for comment.
In March, the hotel division of Wyndham Worldwide Corp (WYN.N) said
European governments had issued an exemption from anti-Gaddafi
sanctions so that it could keep operating a group of hotels it runs
jointly with a firm partly owned by a Libyan government entity.
[ID:nN05288358]
Other Libyan entities subject to EC restrictions are the Central Bank
of Libya (CBL), the Libya Africa Investment Portfolio, the Libyan
Foreign Bank, and the Libyan Housing and Infrastructure Board (HIB).
(Additional reporting by Karen Foster in London and David Sheppard in
New York; editing by Jason Neely)
* Russell & Bromley, Monsoon also in building
By Henning Gloystein
LONDON, June 1 (Reuters) - Conoco Phillips (COP.P) and energy trading
firm Trafigura are among the big-name tenants in a London building
owned by the Libyan government where European sanctions now mean the
rent goes to the UK Treasury.
Portman House, on London's Oxford Street famed for its shopping, was
bought by the Libyan Arab Foreign Investment Company (LAFICO) in 2009.
Trafigura said that the Treasury's Asset Freezing Unit was operating
it in the wake of EU sanctions against various Libyan state-run firms.
"In short, the rent and accounts are overseen by HM Treasury,"
Trafigura said in a written statement to Reuters.
The Treasury was not immediately available for comment.
Along with U.S. energy company Conoco Phillips and Trafigura, fashion
retailers Russell & Bromley and Monsoon MSN.mGBP are also tenants.
In March, the European Commission and U.S. government placed
"restrictive measures" on LAFICO, which froze income and dividends
from some holdings in the European Union and United States.
The EC legislative document from March 11 states that LAFICO, also
known as the Libyan Investment Authority, is under the control of
Libyan leader Muammar Gaddafi and his family and is a "potential
source of funding for his regime".
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Libyan stakes in European bluechips: [ID:nLDE72724Y] Factbox on Libyan
investments in Africa: [ID:nLDE7271J4] Libya oil chief defects to
Italy: [ID:nLDE75031M]
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
LAFICO subsidiary Kinloss Property Ltd bought the building from Land
Securities (LAND.L) for 155 million pounds ($254.3 million).
A spokesman for Conoco Phillips said the firm only dealt with a London-
based property management firm in charge of the building.
James Andrew RSW, which manages the building for Conoco Phillips, was
not immediately available for comment.
In March, the hotel division of Wyndham Worldwide Corp (WYN.N) said
European governments had issued an exemption from anti-Gaddafi
sanctions so that it could keep operating a group of hotels it runs
jointly with a firm partly owned by a Libyan government entity.
[ID:nN05288358]
Other Libyan entities subject to EC restrictions are the Central Bank
of Libya (CBL), the Libya Africa Investment Portfolio, the Libyan
Foreign Bank, and the Libyan Housing and Infrastructure Board (HIB).
(Additional reporting by Karen Foster in London and David Sheppard in
New York; editing by Jason Neely)
ANYTIME VACATIONS - BRANSON MISSOURI
Anytime Vacations located on Green Mountain Drive has closed it's doors, I am unsure if they intend to change their name and re-open under a new name. But when I find out I will post it here. This is a normal trick of travel clubs to try and protect themselves from lawsuits.
Update - The owner of Anytime Vacations has skipped town. Anyone who had hopes of getting their money back will not be able to sue the company.
Update - The owner of Anytime Vacations has skipped town. Anyone who had hopes of getting their money back will not be able to sue the company.
Getting Annoying Sales Calls
Since purchasing your timeshare, have you been swamped with calls offering to sell your timeshare (for an upfront fees). Ever wonder how these companies get your name and number?
When you signed your paperwork, you sign an agreement for the resort to sell your name to affiliate companies. The resort already has your money and that isn't good enough, they want to make money on you again. So they sell your information.
Check your contracts and you will find an "opt-out" clause that you can fill out and stop them. Of course they do have 30 days from your notice to stop doing it.
When you signed your paperwork, you sign an agreement for the resort to sell your name to affiliate companies. The resort already has your money and that isn't good enough, they want to make money on you again. So they sell your information.
Check your contracts and you will find an "opt-out" clause that you can fill out and stop them. Of course they do have 30 days from your notice to stop doing it.
Mexico consumer protection agency
Mexico consumer protection agency
PROFECO
Av. José Vasconcelos No. 208
Piso 6
Col. Condesa
Mexico D.F. C.P. 06140.
(+52) 55 5211-1723 (phone)
(+52) 55 5211-2052 (fax)
extranjeros@profeco.gob.mx
www.profeco.gob.mx/consumidor/denuncias1.asp
PROFECO
Av. José Vasconcelos No. 208
Piso 6
Col. Condesa
Mexico D.F. C.P. 06140.
(+52) 55 5211-1723 (phone)
(+52) 55 5211-2052 (fax)
extranjeros@profeco.gob.mx
www.profeco.gob.mx/consumidor/denuncias1.asp
Get Out Now
Most timeshare resorts will refund a member if it means stopping lots of bad publicity and a nasty lawsuit that will make public, their dirty little secrets.
They don't want you to know this, and will make you sign a "gag" agreement not to disclose any settlement. And they will sue you if you break the agreement.
I have helped owners get out of their contracts using the Breach of the Implied Covenant of Good Faith and Fair Dealing clause. I also will list your timeshare for sale for NO Money up front. You pay a 6% commission when it sells and you have the money in your hands. If you wish to just get rid of the timeshare and give it away, I charge nothing. No tricks, no scams. Email me at notimeshare@gmail.com
This is why we are so successful, we research every aspect of the resort, from business dealings to background checks on salespeople. We find the information that will get you, your money back.
They don't want you to know this, and will make you sign a "gag" agreement not to disclose any settlement. And they will sue you if you break the agreement.
I have helped owners get out of their contracts using the Breach of the Implied Covenant of Good Faith and Fair Dealing clause. I also will list your timeshare for sale for NO Money up front. You pay a 6% commission when it sells and you have the money in your hands. If you wish to just get rid of the timeshare and give it away, I charge nothing. No tricks, no scams. Email me at notimeshare@gmail.com
This is why we are so successful, we research every aspect of the resort, from business dealings to background checks on salespeople. We find the information that will get you, your money back.
Timeshare Relief, Inc
Montpelier, VT (July 3, 2010) — Timeshare Relief, Inc., a Torrance, California, company, will offer over $91,000 in consumer refunds and pay $50,000 to the State of Vermont to settle claims that it violated Vermont law in three different ways in arranging for the repurchase of timeshares. Commenting on the settlement, the second of its kind in the past eight months, Vermont Attorney General William H. Sorrell again warned out-of-state companies offering a financial benefit to Vermonters not to violate the State’s consumer laws, or “they will find that doing so is an expensive proposition.”
On eight occasions between 2007 and 2010, representatives of Timeshare Relief came to Burlington to solicit consumers to transfer ownership of their unused timeshares and thus relieve the owners of timeshare maintenance fees, taxes and other costs. The company advertised these meetings with a mailing that invited Vermonters to find out about the “Guaranteed Timeshare Relief Solution.” A number of consumers who met with Timeshare Relief understood the invitation to mean that the company would offer to pay them for their timeshares; in fact, they had to pay several hundred to several thousand dollars to transfer ownership of their timeshares. The Attorney General considered this to be a deceptive trade practice.
In addition, many of the consumers were also given a “Financial Benefits Worksheet” that indicated that they might be eligible for a tax deduction as an offset against their payment to Timeshare Relief, when in fact such a deduction is available only in those rare cases where the primary reason for buying the timeshare was for investment. The Attorney General also claimed this to be a deceptive trade practice.
In addition, through June 2008, Timeshare Relief did not comply with the requirement of Vermont law that whenever goods or services are sold at a transient location like a hotel, the buyer must be given specified notice of his or her right to cancel the transaction.
Under the settlement, Timeshare Relief will:
SOURCE: Office of the Attorney General of Vermont
On eight occasions between 2007 and 2010, representatives of Timeshare Relief came to Burlington to solicit consumers to transfer ownership of their unused timeshares and thus relieve the owners of timeshare maintenance fees, taxes and other costs. The company advertised these meetings with a mailing that invited Vermonters to find out about the “Guaranteed Timeshare Relief Solution.” A number of consumers who met with Timeshare Relief understood the invitation to mean that the company would offer to pay them for their timeshares; in fact, they had to pay several hundred to several thousand dollars to transfer ownership of their timeshares. The Attorney General considered this to be a deceptive trade practice.
In addition, many of the consumers were also given a “Financial Benefits Worksheet” that indicated that they might be eligible for a tax deduction as an offset against their payment to Timeshare Relief, when in fact such a deduction is available only in those rare cases where the primary reason for buying the timeshare was for investment. The Attorney General also claimed this to be a deceptive trade practice.
In addition, through June 2008, Timeshare Relief did not comply with the requirement of Vermont law that whenever goods or services are sold at a transient location like a hotel, the buyer must be given specified notice of his or her right to cancel the transaction.
Under the settlement, Timeshare Relief will:
- Offer those 28 of its customers who did not receive proper notice of their right to cancel an opportunity to cancel the transaction within ten business days and get all of their money back. Letters to this effect will be sent out in the next month, and Timeshare Relief will pay up to $84,000 under this provision.
- Send to another 28 customers a check in the amount of $250 to compensate them for the time and money they spent traveling to attend the company’s presentation.
- Pay the State of Vermont $50,000 in civil penalties and costs.
SOURCE: Office of the Attorney General of Vermont
Before Buying that Timeshare
- Take your time. Treat a timeshare purchase like the purchase of a home or any other significant commitment. Don’t let high pressure sales tactics and long presentations force you into a hasty decision.
- Do your research. Check the market and the value of the vacation property before you buy and investigate the seller, the developer and the management company. Ask for references and contact current owners to verify their satisfaction with the property.
- Know the cancellation period.. Consumers must notify the seller in writing via certified mail or return receipt mail.
- Recognize that timeshares can be difficult to resell. Buy a timeshare only if you plan to use it. It is an option for future vacations, not an investment.
- Consider extra costs. Most timeshares require consumers to pay annual assessment fees, maintenance fees and taxes, closing and broker commissions, and finance charges. Some fees can rise dramatically in the future so it’s important to ask if there is a cap on future fees.
- Beware of scams. If you are offered a prize as an incentive to attend a timeshare presentation, ask for details and watch out for hidden conditions and fine print. Keep in mind that the value of promotional gifts may be low in comparison to the fees and charges associated with a timeshare purchase. Any ‘free’ travel or vacations you are offered may have blackout dates and other restrictions.
- Read everything before you sign. Carefully review contracts and all other paperwork before you sign anything, and get all special promises about discounts, waived fees or other promotions in writing.
PA Attorney General Reaches Agreement with Bluegreen
Florida-based timeshare company will pay refunds, cancel improper contracts and change business practices
HARRISBURG, PA (June 3, 2010) — The Attorney General’s Bureau of Consumer Protection has reached a settlement with Florida-based BlueGreen Corporation that addresses complaints about the company’s alleged use of deceptive “contests,” misleading sales presentations and improper contracts in the marketing and sale of timeshare vacation packages in Pennsylvania.
Attorney General Tom Corbett says the agreement, known as a Consent Decree, resolves a consumer protection lawsuit filed in October 2008 against BlueGreen Corporation, BlueGreen Resorts, BlueGreen Vacations Unlimited, Inc. and Great Vacations Destinations, Inc., all of Boca Raton, Florida. BlueGreen contacted consumers by phone and through kiosks at shopping malls, fairs, and festivals throughout Pennsylvania, along with the use of sales facilities in Hershey and King of Prussia.
“As a major part of this settlement, BlueGreen has agreed to cancel contracts and pay refunds to consumers who have filed valid complaints about their timeshare purchases,” Corbett said. “Those complaints include consumers who were unable to use their timeshare, false promises about when or where consumers could travel and situations where timeshare purchasers did not receive extra services or discounts that were promised during the sales presentation.”
Corbett noted that the settlement applies to complaints by Pennsylvania timeshare purchasers that have already been filed with the Pennsylvania Office of Attorney General, along with any new complaints filed within the next 30 days. Also, BlueGreen has agreed to turn over all complaints involving Pennsylvania residents that were filed directly with the company.
Additionally, Corbett said the Attorney General’s Office is reviewing complaints filed with other state agencies, such as the Pennsylvania Real Estate Commission, along with other consumer protection agencies, including the Florida Attorney General’s Office, where BlueGreen is headquartered, as well as the Federal Trade Commission and Better Business Bureau offices in Pennsylvania and Florida.
“Many of the complaints filed with the Attorney General’s Office involve consumers who spent between $20,000 and $40,000 on vacation packages they were unable to use,” Corbett said. “This part of the settlement could result in more than $1 million in refunds to consumers, depending on the total number of additional complaints we receive over the next 30 days.”
Corbett said the settlement also includes payments for consumers who were promised various “free gifts,” including airline tickets, hotel accommodations, gas cards and other valuable prizes.
“For most consumers, the promise of a ‘free gift’ or ‘valuable prize’ turned out to be nothing more than vouchers or coupons which required other expensive purchases before they could be used, or were limited by massive “fine print” restrictions,” Corbett said. “As part of this agreement, BlueGreen is paying $125,000, which will be used to compensate people who were deceived about “free” prizes – so consumers who filed valid complaints will get a check for the value of the item they were promised.”
Finally, Corbett said the settlement includes a special reward for each consumer who filed a complaint about BlueGreen’s use of telemarketing sales calls that violated Pennsylvania’s “Do Not Call” law.
Corbett explained that under the provisions of the state’s Do Not Call law, consumers can receive up to $100 when they file a complaint that results in a lawsuit or fines against a company charged with telemarketing violations. A total of 29 people filed Do Not Call complaints about improper BlueGreen calls and each of those consumers will be receiving a check for $100.
“This is a substantial settlement for Pennsylvania, in terms of the money it returns to consumers who were victims of deceptive sales, along with the protection it offers future timeshare buyers,” Corbett said. “BlueGreen has agreed to change its businesses practices to eliminate future confusion about consumer rights involving timeshare purchases, to stop using misleading advertisements about free gifts or prizes and to make certain that any future telemarketing calls fully comply with our Do Not Call law.”
Corbett said consumers who have not yet filed complaints about being unable to use their BlueGreen timeshare or customers who were deceived about “free gifts” and prizes have until June 24, 2010 to contact the Attorney General’s Bureau of Consumer Protection. Consumers who have already filed complaints with the Attorney General’s Office, either before or after the initial lawsuit was filed in October 2008, do not need to take any further action to have their claims considered as part of this settlement.
Consumers with complaints can call the Attorney General’s Consumer Protection Hotline, at 1-800-441-2555, or submit an online complaint using the Attorney General’s website, at www.attorneygeneral.gov (Click on the “Complaints” button on the front page of the website and select the “Consumer Complaint Form”).
The Consent Decree was filed in Commonwealth Court by Senior Deputy Attorney General David Sumner.
SOURCE: Pennsylvania Office of Attorney General
HARRISBURG, PA (June 3, 2010) — The Attorney General’s Bureau of Consumer Protection has reached a settlement with Florida-based BlueGreen Corporation that addresses complaints about the company’s alleged use of deceptive “contests,” misleading sales presentations and improper contracts in the marketing and sale of timeshare vacation packages in Pennsylvania.
Attorney General Tom Corbett says the agreement, known as a Consent Decree, resolves a consumer protection lawsuit filed in October 2008 against BlueGreen Corporation, BlueGreen Resorts, BlueGreen Vacations Unlimited, Inc. and Great Vacations Destinations, Inc., all of Boca Raton, Florida. BlueGreen contacted consumers by phone and through kiosks at shopping malls, fairs, and festivals throughout Pennsylvania, along with the use of sales facilities in Hershey and King of Prussia.
“As a major part of this settlement, BlueGreen has agreed to cancel contracts and pay refunds to consumers who have filed valid complaints about their timeshare purchases,” Corbett said. “Those complaints include consumers who were unable to use their timeshare, false promises about when or where consumers could travel and situations where timeshare purchasers did not receive extra services or discounts that were promised during the sales presentation.”
Corbett noted that the settlement applies to complaints by Pennsylvania timeshare purchasers that have already been filed with the Pennsylvania Office of Attorney General, along with any new complaints filed within the next 30 days. Also, BlueGreen has agreed to turn over all complaints involving Pennsylvania residents that were filed directly with the company.
Additionally, Corbett said the Attorney General’s Office is reviewing complaints filed with other state agencies, such as the Pennsylvania Real Estate Commission, along with other consumer protection agencies, including the Florida Attorney General’s Office, where BlueGreen is headquartered, as well as the Federal Trade Commission and Better Business Bureau offices in Pennsylvania and Florida.
“Many of the complaints filed with the Attorney General’s Office involve consumers who spent between $20,000 and $40,000 on vacation packages they were unable to use,” Corbett said. “This part of the settlement could result in more than $1 million in refunds to consumers, depending on the total number of additional complaints we receive over the next 30 days.”
Corbett said the settlement also includes payments for consumers who were promised various “free gifts,” including airline tickets, hotel accommodations, gas cards and other valuable prizes.
“For most consumers, the promise of a ‘free gift’ or ‘valuable prize’ turned out to be nothing more than vouchers or coupons which required other expensive purchases before they could be used, or were limited by massive “fine print” restrictions,” Corbett said. “As part of this agreement, BlueGreen is paying $125,000, which will be used to compensate people who were deceived about “free” prizes – so consumers who filed valid complaints will get a check for the value of the item they were promised.”
Finally, Corbett said the settlement includes a special reward for each consumer who filed a complaint about BlueGreen’s use of telemarketing sales calls that violated Pennsylvania’s “Do Not Call” law.
Corbett explained that under the provisions of the state’s Do Not Call law, consumers can receive up to $100 when they file a complaint that results in a lawsuit or fines against a company charged with telemarketing violations. A total of 29 people filed Do Not Call complaints about improper BlueGreen calls and each of those consumers will be receiving a check for $100.
“This is a substantial settlement for Pennsylvania, in terms of the money it returns to consumers who were victims of deceptive sales, along with the protection it offers future timeshare buyers,” Corbett said. “BlueGreen has agreed to change its businesses practices to eliminate future confusion about consumer rights involving timeshare purchases, to stop using misleading advertisements about free gifts or prizes and to make certain that any future telemarketing calls fully comply with our Do Not Call law.”
Corbett said consumers who have not yet filed complaints about being unable to use their BlueGreen timeshare or customers who were deceived about “free gifts” and prizes have until June 24, 2010 to contact the Attorney General’s Bureau of Consumer Protection. Consumers who have already filed complaints with the Attorney General’s Office, either before or after the initial lawsuit was filed in October 2008, do not need to take any further action to have their claims considered as part of this settlement.
Consumers with complaints can call the Attorney General’s Consumer Protection Hotline, at 1-800-441-2555, or submit an online complaint using the Attorney General’s website, at www.attorneygeneral.gov (Click on the “Complaints” button on the front page of the website and select the “Consumer Complaint Form”).
The Consent Decree was filed in Commonwealth Court by Senior Deputy Attorney General David Sumner.
SOURCE: Pennsylvania Office of Attorney General
Angry Bluegreen Owners on Facebook
Click on the above link to find angry Bluegreen owners, and share your voice,
You Can Get Your Money Back
Most timeshare resorts will refund a member if it means stopping lots of bad publicity and a nasty lawsuit that will make public, their dirty little secrets.
They don't want you to know this, and will make you sign a "gag" agreement not to disclose any settlement. And they will sue you if you break the agreement.
This is why we are so successful, we research every aspect of the resort, from business dealings to background checks on salespeople. We find the information that will get you, your money back.
They don't want you to know this, and will make you sign a "gag" agreement not to disclose any settlement. And they will sue you if you break the agreement.
This is why we are so successful, we research every aspect of the resort, from business dealings to background checks on salespeople. We find the information that will get you, your money back.
Two Red Weeks - $1500
Check out our resale page, an owner is selling 2 weeks for only $1500 at Fairfield Glade in Crossville, TN. Fees for 2011 are paid weeks are #26 and 27 (4th of July).
Do not contact us if you are a resale company, I will only forward your name when I can verify you are an interested party, not trying to get a listing fee from these owners.
Do not contact us if you are a resale company, I will only forward your name when I can verify you are an interested party, not trying to get a listing fee from these owners.
Bluegreen's Big Cedar Points
If anyone wants to get rid of Big Cedar Points, I know someone who will take them. They may buy but with the high maint fees probably wouldn't be able to pay much. But if you want to get out from under the fees, they will take them. They use Big Cedar but do not try and trade or go anywhere else. Let me know and I will put you in contact with them.
Police: Four arrested in second bust in crackdown on illegal timeshare telemarketing
Police arrested (from left) 19-year-old Dominion Crupi and 26-year-old Michael Malgesini on charges of unlicensed telemarketing and scheme to defraud. Suspected employee 27-year-old Julie Spencer was arrested on an out-of-county warrant involving a misdemeanor traffic violation. Steven Svopa, 23, was charged with driving with a suspended license. (Orlando Police Department / February 3, 2011)
The raid happened in an office building on Hiawassee Boulevard in the MetroWest area. Police say the suite targeted was being used as a so-called "boiler room," where telemarketers cold-called timeshare owners from illegally obtained lists, claiming to have a buyer for their vacation property.
"They were given a hard-sell," said Sgt. Amy Ameye, of the city's economic crimes unit. "They were told, 'If you send money… we will get the paperwork going, we will get your timeshare sold for you ASAP.'"
However, investigators say there were never any buyers. Instead, they say the telemarketers were pocketing up-front fees and offering no service in return.
"Once that money is sent, however it's sent, you never hear from these people again," Ameye said.
The raid happened in an office building on Hiawassee Boulevard in the MetroWest area. Police say the suite targeted was being used as a so-called "boiler room," where telemarketers cold-called timeshare owners from illegally obtained lists, claiming to have a buyer for their vacation property.
"They were given a hard-sell," said Sgt. Amy Ameye, of the city's economic crimes unit. "They were told, 'If you send money… we will get the paperwork going, we will get your timeshare sold for you ASAP.'"
However, investigators say there were never any buyers. Instead, they say the telemarketers were pocketing up-front fees and offering no service in return.
"Once that money is sent, however it's sent, you never hear from these people again," Ameye said.
Silverleaf Resorts being Sold
Click the headline to read the entire story, Silverleaf owners may be looking at more fees and assessments.
Press Release Source: Silverleaf Resorts, Inc. On Thursday February 3, 2011, 6:56 pm EST
DALLAS--(BUSINESS WIRE)-- Silverleaf Resorts, Inc. (NASDAQ:SVLF - News), a leader in the development, marketing and operation of timeshare resorts, announced today that it has entered into a definitive agreement to be acquired by SL Resort Holdings Inc., an affiliate of Cerberus Capital Management, L.P. (“Cerberus”).
The transaction has been approved by Silverleaf’s Board of Directors, and the Board will be recommending that Silverleaf’s shareholders approve the transaction. Under the agreement, Silverleaf shareholders will receive, at the closing, $2.50 in cash for each share of Silverleaf common stock they own, representing a premium of approximately 75% based on the closing trading price of $1.43 of Silverleaf common stock on February 3, 2011. Cerberus has agreed to provide equity financing for the full amount of the merger consideration.
Thomas Morris, Executive Vice President – Capital Markets and Strategic Planning of Silverleaf said, “Our Board of Directors and our management team believe that following a review of strategic alternatives this merger transaction is the best approach to maximize shareholder value and is in the best interests of Silverleaf’s shareholders, timeshare owners, and employees. We look forward to working with Cerberus to effect a smooth transition.”
Make Your Complaint Posts Work
When posting your complaint on an online complaint forum, include the full name of your sales person and sales manager, anyone connected with the resort. A lot of states require timeshare salespeople to hold a real estate license, by logging complaints it will be possible to put sanctions and possible rejection of real estate licenses of these liars and scammers.
FREE RESALE LISTING
Want to sell your timeshare, I will list it on our upcoming Resale page for free. No Tricks. There is no reason to pay a company upfront to do what I am offering. It will stay on the free page and when someone is interested, they will email me, if I see that it is a legit request and not some resale scam, I will give you their contact information. At that time you and the buyer handle the details, and when you have the money in hand you pay me 6% of the amount you received. Its that simple.
What I Offer You, The Timeshare Owner
The largest percentage of people who have joined timeshares, were not told the truth when purchasing. Some of the salesreps and managers will lie to you. This is unacceptable, and you can hold them accountable.
I can help you to force the resorts to refund your money and cancel your contract, I spend a few weeks researching complaints, news articles and previous lawsuits filed against the resort company. I also do background checks on the salespeople and sales managers. I will prepare a package including all the above including detailed court records and a statement for you to present to the resort pointing out where you were lied to and tricked into buying a membership.
With this in hand you make it clear to the resort that unless they make it right with you, your next step will be to turn this information over to the media and then file a lawsuit against the resort, and once you do, you will also file for punitive damages.
There are other companies that do the same thing, they charge up to 2000 dollars down and up to 25% commission on the recovered money. At No Timeshare, I charge $275 research fee to pay for records, research and printing and mailing costs. Once you have your money in hand, I get 6% of the money you get back. If for any reason you settle to just get out of your obligation and you receive no money, then you do not owe the 6%. I can make this offer because I know the resorts will pay you off so they will stay out of the news and a lawsuit they cannot win.
Email me at notimeshare@gmail.com I will send you a questionnaire so we can determine if you have a winnable case.
I can help you to force the resorts to refund your money and cancel your contract, I spend a few weeks researching complaints, news articles and previous lawsuits filed against the resort company. I also do background checks on the salespeople and sales managers. I will prepare a package including all the above including detailed court records and a statement for you to present to the resort pointing out where you were lied to and tricked into buying a membership.
With this in hand you make it clear to the resort that unless they make it right with you, your next step will be to turn this information over to the media and then file a lawsuit against the resort, and once you do, you will also file for punitive damages.
There are other companies that do the same thing, they charge up to 2000 dollars down and up to 25% commission on the recovered money. At No Timeshare, I charge $275 research fee to pay for records, research and printing and mailing costs. Once you have your money in hand, I get 6% of the money you get back. If for any reason you settle to just get out of your obligation and you receive no money, then you do not owe the 6%. I can make this offer because I know the resorts will pay you off so they will stay out of the news and a lawsuit they cannot win.
Email me at notimeshare@gmail.com I will send you a questionnaire so we can determine if you have a winnable case.
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