Well, apparently, someone thinks they can revive this company. Our VP of Customer Relations Robert Katz (although he likes to refer to himself as the Senior VP now) is trying to bring in ‘hard money lenders’ from New York. I have a gut feeling these are loan sharks, but I’m not going to question it or even get into it. I’m strictly sticking to the formation of the Committee of Investors and the assemblage of evidence.
I’m not getting a lot of help from anyone in the office, including the president, which makes me wonder exactly why I’m doing this. Then I remember, despite the assuaging of the president to the contrary, my ass is on the line, too.
I’m going to put a module up in the middle column later today if I can get enough of this uploaded where you can start downloading the conversations with the embezzler James Anthony Wimmer. I want as many copies of these files floating around the net as possible — that way if I get in any kind of trouble over this, and my hard drives are seized, I still have cover-my-ass material floating around out there.
Unfortunately, however, I have over two gig’s of audio here, and I doubt many of you actually want to download and listen to this, unless you are a reporter looking for a scoop on a story.
Don’t worry, though, I’ll put summaries and teasers on each of the files, so you can skip to the good stuff and skip them altogether if none of it interests you (and I doubt any of my readers will be interested in anything but the juicy details and the bottom line — I’m barely interested in it and I have had to listen to these files about 20 times each).
A little background on what my company does in the first place
FlyDLUX is what’s referred to as a ticket broker. We simply purchase tickets and resell them to travelers. For most businesses that deal in tickets, this is a very low margin industry. That’s why you really don’t hear of brokers that much. The only time a ticket broker makes any kind of money to speak of is if they have a line on some really cheap-assed tickets. Most businesses that sell tickets only do it to facilitate the sale of other travel amneties (these are called Travel Agencies).
The biggest difference between a Travel Agency and a Ticket Broker is that a Ticket Broker doesn’t have to own a Travel Agency license (which are quite expensive), and they aren’t liable in the same way a travel agent is for messed up travel plans.
How do we get our discounts? If our business was still in running condition, that would be proprietary information. However it’s not, so it isn’t.
Essentially, we have a special set of deals with a large ticket consolidator and a large airline. It’s a grey market area, but we get tickets in two price catagories: domestic and international. They are an unbelievably low cost for both, and then we mark them up to near market value, and are thereby able to undercut all competition and still turn a tremendous profit.
Metaphorically, we are buying $20 bills for $1, and selling them for $5-18. How can anyone screw that up?
The best I can tell, James Wimmer, the guy who is the deal-maker with the airline and the consolidator, was doing an unknown combination of the following three things: skimming money off the top, selling the same stock as many as three times over under the table, and being an incompetent buffoon in his duties of helping to fulfill the tickets.
The tapes show evidence of this: his incompetence, his inability to keep his story straight, and his inability to manage the amount of money and trust he was given.