Saturday, June 30, 2007

Lajitas Resort Up For Auction

Here's some interesting news from the Alpine Avalanche.

Steve Smith who was instrumental in the growth of Excel Communications bought a Resort in far West Texas back in 2000 at an auction. After spending a reported 100 million dollars making it into one of the most plush get aways in the world one of his lenders has filed for foreclosure.

EverydayWealth, and SoulMate which became UltimateMatch are some of the other Network Marketing companies that Steve had started after his days at Excel.

EverydayWealth looked poised to become the next Excel during it's first couple of years. They had a former CEO from WalMart Stores on the board along with a who who's list from the credit and debt industry. It is ashamed that EverydayWealth didn't stick around as identity theft has become the fastest growing crime in America. EverydayWealth's mission was to show consumers how to get out of debt, manage their credit, and protect themselves from identity theft and predatory lenders.

Initially and up front investment of around $39.00 and and ongoing $19.95 per month paid for your business, 2 websites, and your monthly credit report. They had a fantastic compensation plan and were evening seeking to patent a lending model which assured consumers the best interest rate on loans.

Well it didn't last and 1000's of associates including myself were quite disappointed. I hate to see whats happening to Steve's other businesses as he's s a great guy who is genuinely interested in helping others.

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