RE: ....I might even buy some shares soon..... I already have enough in the company. I was being sarcastic.
The past 5 years prove they could not execute on their business plans, for one reason or another. Maybe not entirely their fault but nevertheless a failure.
They were somewhat amateur to go into coupon clipping for charity and the like, nickel and dime stuff (can read past news on their website). Good intentions, but amounted to nothing. On the other side of the spectrum, with their grand hub/spoke idea and trying to compete with Aeroplan/Air Miles, they were dreaming.
Being a reseller of Aeroplan, maybe they thought it would lead to significant revenues (as they stated in their news releases 2008), but that never materialized. Everyone was lulled into thinking big money could be had from over-inflated expectations. It's not that easy in the high competitive loyalty indiustry.
Aeroplan themselves took 3 years to get the Sobeys account. 3 years! These business deals take time. Futura's venture with Co-op Atlantic in 2007..... I was actually amazed it was done so fast. In the end, it failed. Don't know why.
So they at least tried. Maybe like someone mentioned, by luck, the winning formula will still be found. Focus on a niche market. There are car service centres/car dealerships who need a loyalty program. And it's not only those who are struggling small time operations. The bigger operations can use Aeroplan to supplement their own programs. It's a good fit.
Still no data on how Aeroplan is doing specifically for the 140 or so car dealers. CCAA will want to know that.
Yes I'm disappointed. I thought the Aeroplan deal with car dealers would be a success and bought shares, Much like others who loaned money to the company and now are getting nervous.