The smell of Jones BS never gets better

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unsunghero's picture
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Joined: 2005-07-12

Posted 11:02 AM June 26, 2006
Edward Jones rep receives Partner's Award
 

June 26, 2006 

NOBLESVILLE -- Jim Lewis of Noblesville received the Partner's Award for his outstanding sales and service efforts over the past year. Lewis was one of 412 of the firm's more than 9,000 investment representatives to receive the award. He has been serving Noblesville since 2004.
"When you work for a firm that is known for outstanding service, it's quite an honor to be singled our for your service record," Lewis said in a press release.
These dumbass press releases are full of some of Jones' most blatant half truths and BS.  What part of the stupid "Partners Award" has anything to do with "outstanding service."  The whole firm is full of dumbasses and only dumbass newspapers actually print this crap.

Incredible Hulk's picture
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Joined: 2006-03-24

unsunghero wrote: Posted 11:02 AM June 26, 2006
Edward Jones rep receives Partner's Award
 

June 26, 2006 

Is service what you get paid for?
[IMG]height=1 src="http://www.thenoblesvilleledger.com/images/clear.gif" width=10>

NOBLESVILLE -- Jim Lewis of Noblesville received the Partner's Award for his outstanding sales and service efforts over the past year. Lewis was one of 412 of the firm's more than 9,000 investment representatives to receive the award. He has been serving Noblesville since 2004.
"When you work for a firm that is known for outstanding service, it's quite an honor to be singled our for your service record," Lewis said in a press release.
These dumbass press releases are full of some of Jones' most blatant half truths and BS.  What part of the stupid "Partners Award" has anything to do with "outstanding service."  The whole firm is full of dumbasses and only dumbass newspapers actually print this crap.

Incredible Hulk's picture
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Joined: 2006-03-24

Incredible Hulk wrote: unsunghero wrote: Posted 11:02 AM June 26, 2006
Edward Jones rep receives Partner's Award
 

June 26, 2006 

Is service what you get paid for?
[IMG]height=1 src="http://www.thenoblesvilleledger.com/images/clear.gif" width=10>

NOBLESVILLE -- Jim Lewis of Noblesville received the Partner's Award for his outstanding sales and service efforts over the past year. Lewis was one of 412 of the firm's more than 9,000 investment representatives to receive the award. He has been serving Noblesville since 2004.
"When you work for a firm that is known for outstanding service, it's quite an honor to be singled our for your service record," Lewis said in a press release.
These dumbass press releases are full of some of Jones' most blatant half truths and BS.  What part of the stupid "Partners Award" has anything to do with "outstanding service."  The whole firm is full of dumbasses and only dumbass newspapers actually print this crap.

That was an interesting quote..

unsunghero's picture
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Joined: 2005-07-12

What the heck was that?  The only thing I got out of your quote was, "Is service what you get paid for."  Well it is when you run a fee business. 
Anyway found this great offering advertised on the Jones website:

Bond Issue: Piedmont Natural Gas Company

 

$200,000,000 Insured Quarterly Notes Series 2006, Due 2036*
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to 990,000 residential, commercial and industrial customers in portions of North Carolina, South Carolina, and Tennessee, including 61,000 customers served by municipalities who are wholesale customers. They also have investments in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation.
Features:


  • Yield: 6.25%
  • AAA Rated by Standard & Poor's
  • Aaa Rated by Moody's
  • *Callable at 100% on or after 06/01/11

Edward D. Jones. & Co., L.P. is pleased to be the managing underwriter.
For further information:
The only service the poor sap who buys that thing is going to get is if the bond gets called because rates are lower in 5 years. 
Anyone care to let us know what the net is on that fine product.  Award winning service...absolutely!

Revealer's picture
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Joined: 2005-02-13

A coupl'a posts ago there was several dumbass mentions. Who would be the bigger dumbass on this bond issue? The customer or the IR? Rates go down....you lose the bonds (called), rates go up...you lose price. Pretty much a no win situation. Yeh,but.....I can hear it now..."Mr/Mrs 8th grade mentality customer, these bonds aren't REALLY 30 yr. bonds, they'll be called in only 5 yrs., so don't worry about the maturity date." (IR is really thinking that if he doesn't sell these bonds HE won't be around in 5 yrs.) Buying paper like this is kinda like being a Cubs fan....someone or some thing will stick his proverbial hand into the play and cause you (the fan/customer) not to complete the catch. BTW do the jones reps still get EXTRA sales credit if their local office units (region?) sell lots of bonds? 

munytalks's picture
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Joined: 2006-04-17

Revealer wrote:A coupl'a posts ago there was several dumbass mentions. Who would be the bigger dumbass on this bond issue? The customer or the IR? Rates go down....you lose the bonds (called), rates go up...you lose price. Pretty much a no win situation. Yeh,but.....I can hear it now..."Mr/Mrs 8th grade mentality customer, these bonds aren't REALLY 30 yr. bonds, they'll be called in only 5 yrs., so don't worry about the maturity date." (IR is really thinking that if he doesn't sell these bonds HE won't be around in 5 yrs.) Buying paper like this is kinda like being a Cubs fan....someone or some thing will stick his proverbial hand into the play and cause you (the fan/customer) not to complete the catch. BTW do the jones reps still get EXTRA sales credit if their local office units (region?) sell lots of bonds? 
 
Sort of yes and no- How's that for double speak?
As of 2004/2005 our Region had a large Muni Offering. Got all the Newbies on Saturday AM to do Telephone Workshop plus all Veterans pushing the bonds. It went well. RL was given extra "credit" in the Region Budget to be used for certain things at the RL's discretion.
He used it for 'group' advertising in a paper that was circulated in his Community and 5 other guys. All other 55+ IR's were out.  And the Muni Bonds were in the furthest most point AWAY from his community.
So how's that for good will and morale?

spikedkoolaid's picture
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Joined: 2006-04-20

The NET on the above Bond is 3 pts.  I have a mole that said the bond was sold out in 7 to 10 days. 

jonesescapee's picture
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Joined: 2006-05-23

Not so fast Spike.........tne so called net is 3pts but factor in the bond aggregate rule, you know, the rule that says if you sell too much of a bond to a client the employee gets a haircut and the GP gets wealthier.

jonesescapee's picture
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Joined: 2006-05-23

Keep in mind readers there is two types of net.......regular net which equals 3 percent and then there is Jones net which is a far cry from 3 percent.
Wake up all you employees of the CULT!

munytalks's picture
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Joined: 2006-04-17

jonesescapee wrote:
Keep in mind readers there is two types of net.......regular net which equals 3 percent and then there is Jones net which is a far cry from 3 percent.
Wake up all you employees of the CULT!

 
Careful NOW! You'll get RANKSTOCKS all upset again over the misuse of the term "NET".  He's still of the opinion that if Edward Jones says  "this is your "NET" it's the highest, bestest payout you can get-minus taxes, tips and toilet paper.
If anyone ELSE says "NET"- we're lying, cheating, tax evading sons of slugs.....
And it's no wonder those bonds sold out.... 3 bps?! I had to search through every INV,STINKIN BOND  page to get 2!!! BESIDES THAT-ONLY TWO MONTHS LEFT for Div Trip Points.... You member those Spike and Escapee- those "FREE" trips you get for "doing what's right for the customer..."
 

spikedkoolaid's picture
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Joined: 2006-04-20

If you look at Jones Secrets Revealed part I, II
you will see that it's easy to avoid the aggregation rule.  Buy Piedmont 3 pts (100k), Buy UIT-secondary (100k) 4pts, and then buy $85k of Lord Abbett Bond Debenture 4pts.  Very diversified bond portfolio for $285k (yeah right).  No breakpoints, no FSPENDS, Clean!
I can guarantee you one thing, if Jones put out on the inventory a laddered Bond Strategy and paid the IR 1 pt, there is no way that would sell in the inventory.  It would sit there like a pair of old OP corduroy shorts from 8th grade. 

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