Major Sells Much Of Its Stake In California Wow

[Theyreallrubbish]

http://nationmultimedia.com/2009/11/20/bus...ss_30117042.php

I have to say that when ever someone has asked me about the California Wow memberships I've replied by telling them how much money the company is losing, but the response has been that Major is a big shareholder and won't let it go under.

With the reduction in their stake is buying memberships much more risky now?

[Moonrakers]

We got something through the post a few weeks ago, some promotion claiming that we can get a free 6 month trial membership with wow, or something along those lines.

So my misses pops along and asks about it and they say "yep", a free 6 month trial. Great.

When my wife said she'll take it, they asked for (about, I can't remember) 3,000 baht in application fees. So the 'free' trial cost 3,000 baht to 'apply' for.

Needless to say, we are not members on a trial period or otherwise.

[Ijustwannateach]

I would guess this is a pretty clear signal that it's time to be reducing expectations of the place dramatically- Major isn't in the business to lose money. It was only a matter of time, and as one of the early persons 'buying in' I've gotten my money's worth- but without some pretty clear signs that they are going to start doing more maintenance, caring more about their capital and customers in the medium-to-long term, I'd say that any investments in CW- either personal or corporate- are likely to be poor risks at present.