[LTPC-discussions] Bringing you up to date on LTPC
ltpc-disc@ltpcalums.com
ltpc-disc@ltpcalums.com
Mon, 18 Aug 2003 17:27:27 EDT
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To LTPC ALUMS:
It has been a while since my last communication and would like to bring you
up to date on what is happening.
1. The attorney's are still looking into this. Believe me on this. Some of
you know the firm that is taking a long hard look at this. I just can not
divulge it yet. They have invested time and money to see if this lawsuit makes
sense. Just the fact that they are looking into it for this much time is
good. But again, until they decide to represent us on this we have nothing
concrete. I am hopeful, but do not want to get my hopes up too much. When I get an
answer from them I will post it, whatever their decision is.
2. I have been in contact with the Tennessee Insurance Commission and
complained about not being able to deliver policies. Complained that some policies
might not be taken since we did not deliver. Consumer got the short end of
the stick when delivery came by mail with a note attached where to sign and send
the check. You might want to write or call them too. You might want to
complain to your state agency.
3. Sent out letters to Cendant Board members and executives. Did not get
any response except the letter from Dan T. I guess that is what you call a
stone wall. The letter from Dan T. is the one I posted here. Letters went out to
every major business publication, market makers, and CEO watchdog groups.
4. Spoke to Dan T. twice over the last three weeks. There is no movement
period. The main reason they do not want us to contact affinity group members
is that according to Dan T. if we make a sale the affinity groups will not make
any commission. If that is the case than why was it ok to join Robert
Forman's agency and contact affinity members? The only thing that will work is
legal action.
5. Attorney's need some input here guy's. I believe to the best of my
knowledge it is provable that LTPC was for sale. There were deals on the table
that did not happen due to how Cendant was structuring them. It seems that
Cendant wanted to keep the renewals and sell LTPC's other assets. The question
is, even if they were to sell the company why would the new owners keep the same
contract with the agents when it came to vesting since the new owners would
not get any renewals on the old business? So is it possible that even if LTPC
was sold, the agents would now be under a new contract and might have to
start all over again to get vested. So your vesting rights might not have been
carried over even to new company. So now the question is, if this deal they
tried to make was not marketable, and they knew it, were we mislead and lied too?
Were a lot of agents hired just to pump up numbers to help with the sale?
6. Has anyone had any correspondence from LTPC on any policies that were
delivered? I have not had one bit of information from LTPC on any application
that was pending or on any delivery. Cendant has kept us in the dark. Has
anyone had any correspondence about policies that were not taken? Premiums that
might be late so we can remind them? Has anyone not had a policy accepted
because of the way they were delivered? Has anyone not had a couple accept a
policy because one spouse was not approved? Since we could not deliver the policy
we did not have the opportunity to resell the benefits again to the
applicant. Let me know if you lost commission, or think you lost commission due to
LTPC. These are all things that the attorney's would want to know.
Your opinions are appreciated. I forward many of them to the attorney's so
they get a sampling of opinions from other agents. If you have any information
or thoughts please contact me. You can email me at shampooric@aol.com or
call me at 954-629-7545. Anything we talk about will be totally confidential.
Richard Moore
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<HTML><FONT FACE=3Darial,helvetica><FONT SIZE=3D4 FAMILY=3D"SANSSERIF" FACE=
=3D"Arial" LANG=3D"0"><B>To LTPC ALUMS:<BR>
<BR>
It has been a while since my last communication and would like to bring you=20=
up to date on what is happening. <BR>
<BR>
</FONT><FONT COLOR=3D"#000000" style=3D"BACKGROUND-COLOR: #ffffff" SIZE=3D3=
FAMILY=3D"SANSSERIF" FACE=3D"Arial" LANG=3D"0">1. The attorney's are=20=
still looking into this. Believe me on this. Some of you know th=
e firm that is taking a long hard look at this. I just can not divulge=
it yet. They have invested time and money to see if this lawsuit make=
s sense. Just the fact that they are looking into it for this much tim=
e is good. But again, until they decide to represent us on this we hav=
e nothing concrete. I am hopeful, but do not want to get my hopes up t=
oo much. When I get an answer from them I will post it, whatever their=
decision is.<BR>
<BR>
2. I have been in contact with the Tennessee Insurance Commission and=20=
complained about not being able to deliver policies. Complained that s=
ome policies might not be taken since we did not deliver. Consumer got=
the short end of the stick when delivery came by mail with a note attached=20=
where to sign and send the check. You might want to write or call them=
too. You might want to complain to your state agency.<BR>
<BR>
3. Sent out letters to Cendant Board members and executives. Did=
not get any response except the letter from Dan T. I guess that is wh=
at you call a stone wall. The letter from Dan T. is the one I posted h=
ere. Letters went out to every major business publication, market make=
rs, and CEO watchdog groups.<BR>
<BR>
4. Spoke to Dan T. twice over the last three weeks. There is no=20=
movement period. The main reason they do not want us to contact affini=
ty group members is that according to Dan T. if we make a sale the affinity=20=
groups will not make any commission. If that is the case than why was=20=
it ok to join Robert Forman's agency and contact affinity members? The=
only thing that will work is legal action.<BR>
<BR>
5. Attorney's need some input here guy's. I believe to the best=20=
of my knowledge it is provable that LTPC was for sale. There were deal=
s on the table that did not happen due to how Cendant was structuring them.&=
nbsp; It seems that Cendant wanted to keep the renewals and sell LTPC'=
s other assets. The question is, even if they were to sell the company=
why would the new owners keep the same contract with the agents when it cam=
e to vesting since the new owners would not get any renewals on the old =
; business? So is it possible that even if LTPC was sold, the agents w=
ould now be under a new contract and might have to start all over again to g=
et vested. So your vesting rights might not have been carried over eve=
n to new company. So now the question is, if this deal they tried to m=
ake was not marketable, and they knew it, were we mislead and lied too? =
; Were a lot of agents hired just to pump up numbers to help with the sale?<=
BR>
<BR>
6. Has anyone had any correspondence from LTPC on any policies that we=
re delivered? I have not had one bit of information from LTPC on any a=
pplication that was pending or on any delivery. Cendant has kept us in=
the dark. Has anyone had any correspondence about policies that were=20=
not taken? Premiums that might be late so we can remind them? Ha=
s anyone not had a policy accepted because of the way they were delivered?&n=
bsp; Has anyone not had a couple accept a policy because one spouse was not=20=
approved? Since we could not deliver the policy we did not have the op=
portunity to resell the benefits again to the applicant. Let me know i=
f you lost commission, or think you lost commission due to LTPC. These=
are all things that the attorney's would want to know.<BR>
<BR>
Your opinions are appreciated. I forward many of them to the attorney'=
s so they get a sampling of opinions from other agents. If you have an=
y information or thoughts please contact me. You can email me at shamp=
ooric@aol.com or call me at 954-629-7545. Anything we talk about will=20=
be totally confidential.<BR>
<BR>
Richard Moore<BR>
<BR>
<BR>
</B></FONT></HTML>
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