It is amazing how much can change in 14 days. The cherry blossoms in DC can come and go. Stocks can plummet 20% or more. And income disclosures, apparently, can fluctuate as well.
On January 25th, I received the 2007 Income Disclosure from YTB and have been referencing that document in many of my entries as well as comments. But it appears that now the "tour" has ended, the numbers have been changed. I want to be clear, it does not affects many people--only 6, but the changes were very significant. I wonder if the Gleaning Department may be in need of some basic training; or maybe this was just practice for the Travel Weekly questionnaire.
On the new and improved income disclosure:
- The Level 5 Directors (1) income was increased by nearly half a million dollars ($466,524.30)
- The Level 6 Directors (2) income for the top earner was increased by a hundred thousand dollars ($102,153.02); this increased the average income by over fifty thousand dollars ($51, 076.51)
- The Level 7 Directors (3) income for the top earner was actually reduced by more than half a million dollars ($652,492.86); the low earner income was increased by almost half a million dollars ($473,288.75); and the average income ultimately was increased almost one hundred thousand dollars ($84,385.20)
Maybe having someone appear to earn nearly $5 million dollars looked good on papers handed out to the 30,000 people that attended the Founder's Tour. Maybe it did not look too good on SEC reports?
Had there been changes at the lower levels, I could almost understand this. However, these changes are involving 6 people at the highest levels. How does one under-state income by half a million dollars? One hundred thousand dollars? Fifty thousand dollars? How does one over-state income by almost seven hundred thousand dollars? And again under-state it by close to another half million dollars? Not much else to say but "wow"!
I know that YTB has had problems in the past figuring out how much they earned selling travel, now it appears that the same problem plagues them when it comes to figuring out how much they are paying their Reps. There is a wonderful program from Sabre called TRAMS Back Office. I know it is an amazing concept, but it will let you know how much you sell and how much you spend. No gleaning required! Hopefully the 1099s were correct since the revised numbers are dated after the date the 1099s were due.
The latest glean of the income can be found here. And if anyone would like to see the original gleaning, I can email it to you.