RE: Interesting forum Maybe the auto sales category is a tough one to crack with new loyalty programs as compared to the relatively easier ones Advantex may have. That's why ADX are successful in such a short time since being an Aeroplan reseller in 2012.
In that forum, this sums it up: "5000 miles would never persuade me to buy one car over another, even 50,000 might be hard, unless it was a really good deal". Buyers are looking for the best bargains. By the commentaries on the forum, Aeroplan means little in their decision to purchase a car, it's like another tax.
So maybe this industry differs from the other like hotels, car rentals, food stores, etc. Futura management did not see this coming.
-------------------------------
This year so far, Mark Farrell left, Graham Farrell a week or so ago and David Beutel stepped down as Chairman of the Board. Personally, I don't think the loyalty business will be continued, but nor will the company be finished. I still believe in going another direction with a reverse merger or the sort.
Any ideas? Several companies want to go public who want to buy foreclosed houses in the US. rent the properties and then sell them in the future when prices rebound. Yes risk as the costs of carrying the properties can be steep. Some private equity investors in Canada are waiting to go public.
It's only idea, but at least Futura can continue in some form and maybe shareholders will see a return. Better than declaring bankruptcy and going dead. A clean shell company, do an IPO and so forth. At least with real estate there's some value on the books.
But other ventures could also use a shell to get a public listing quickly. If anyone can do it, it's David Campbell and David Beutel. They also contributed a lot moneywise to Futura via Bellweather Capital and Oakwest. They could more easily negotiate with debt holders about the options which are open to Futura.
Real estate may not be the answer, but my contractor friend is happy with his Scotsdale Arizona condos bought for 40 cents on the dollar. He is a millionaire and he is but one person. In fact he is already sold one condo which doubled in price in just 3 years. So why can't a company with say $40 million do likewise?
I don't want to see Futura end. If the loyalty business is not the way to go, try another. that's all I ask.