Jonze Business Model Saved By Weeedle
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Wall-Mart and American Funs Reach Agreement to Sell Mutual Funs, Edward Jonze Business Model in Trouble<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Friday, November 13, 2009 Asssoicated Presss
Clifton, AR. — A spokesman from American Funs made a statement today to announce the planned arrangement to offer their mutual funs to Wall-Mart customers.
In a press release and following conference, American Funs announced an agreement to sell their products to customers in the checkout lines of Wall-Mart. After the clients open an account with their Wall-Mart advisor they can have the option to have their change from each purchase put towards their IRA or TOD accounts. A spokesman from American Funs says “This is a win-win for both of us. We have the funs and Wall-Mart has the customers.”
Edward Jonze is currently the largest distribution channel for American Funs products. They declined an interview, but we were able to speak with an advisor with Jonze. Randy Davis, a two year veteran of the financial industry, stated “This move by American Funs will really hurt our model. It is so easy to sell a product with “American” in the name door to door. All I half to do is tell the customer how much my fees can beat their current advisor’s. But there is no way I can compete with Wall-Mart.”
Shares of both Wall-Mart and American Funs are trading higher in afterhours trading.
The only thing that would have made it better is if it had included an interview with Spiff and/or Windy.
There was an interview scheduled, but Windy had to cancel to take a meeting with Bill Gates. Seems his adviser was charging him hidden fees which Windy discovered while installing Windows 7.
The only thing that would have made it better is if it had included an interview with Spiff and/or Windy.
[quote=DeBolt]
Wall-Mart and American Funs Reach Agreement to Sell Mutual Funs, Edward Jonze Business Model in Trouble<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Friday, November 13, 2009 Asssoicated Presss
Clifton, AR. — A spokesman from American Funs made a statement today to announce the planned arrangement to offer their mutual funs to Wall-Mart customers.
In a press release and following conference, American Funs announced an agreement to sell their products to customers in the checkout lines of Wall-Mart. After the clients open an account with their Wall-Mart advisor they can have the option to have their change from each purchase put towards their IRA or TOD accounts. A spokesman from American Funs says “This is a win-win for both of us. We have the funs and Wall-Mart has the customers.”
Edward Jonze is currently the largest distribution channel for American Funs products. They declined an interview, but we were able to speak with an advisor with Jonze. Randy Davis, a two year veteran of the financial industry, stated “This move by American Funs will really hurt our model. It is so easy to sell a product with “American” in the name door to door. All I half to do is tell the customer how much my fees can beat their current advisor’s. But there is no way I can compete with Wall-Mart.”
Shares of both Wall-Mart and American Funs are trading higher in afterhours trading.
[/quote] That's hilarious, should sent it to some of my Jones buddies!There was an interview scheduled, but Windy had to cancel to take a meeting with Bill Gates. Seems his adviser was charging him hidden fees which Windy discovered while installing Windows 7.[/quote][quote=BerkshireBull]
The only thing that would have made it better is if it had included an interview with Spiff and/or Windy.
There was an interview scheduled, but Windy had to cancel to take a meeting with Bill Gates. Seems his adviser was charging him hidden fees which Windy discovered while installing Windows 7.[/quote][quote=BerkshireBull]
The only thing that would have made it better is if it had included an interview with Spiff and/or Windy.
Before Buffett took over the day to day of Berkshire Hathaway he used to charge the investors in his partnership 25% of the profits over the first 4%.
Those fees are quite a bit more than American Funds!
Wall-Mart Cuts Deal With Jonze,
Weeedle Drives Neighbor's Truck To "Blend" In
Thu Nov 19, 2009 11:30am EST
SAN FRANCISCO, Nov 19 (Rooters) - Wall-Mart Stores Inc (WLMT.N), which has already made a brilliant business deal with American Funs to distribute their mutual funs by means of "kiosks" and "single advisor" offices in their stores, has announced a deal with Edward Jonze. Edward Jonze, already known as "The Wall-Mart of Wall Street", approached the Walltons in Arkansas last week. After intense negotiations between Mr. Wallton of Wall-Mart and Mr. Weeedle of Jonze, a tentative agreement has been reached.
Daniel Fabers of "The Fabers Report" on NBCN uncovered this story when he was researching the repercussions of such a negotiation between Wall-Mart and American Funs. We asked Mr. Fabers to comment on the specifics...
"All the details are real hush-hush but from being such a respected and powerful member of the financial news industry, I have uncovered this:
Mr. Weeedle drove his neighbor’s old Ford truck from his home in Missouri to Mr. Wallton's house last week to discuss what Mr. Wallton's decision would do to Jonze."
Fabers went on to say, "Insiders of Wall-Mart are telling me that Weeedle tried to sell Jonze to Wall-mart in an attempt to guilt the Walltons into helping Jonze keep their #1 revenue generating product. Although Mr. Walton thought it was amusing he also saw a great opportunity. After asking some questions about the Jonze model and how familiar Jonze advisors are with American Funs, the two men came to an agreement."
After further discussions with Mr. Fabers we understand the joint venture will work well for both companies but the Jonze employees are still mixed. Wall-Mart will provide the build out and client traffic while Jonze will provide advisors to work the kiosks and offices similar to the nail salon and eyeglass centers in the front of the stores. All the current Jonze advisors will continue with their current business model, while the new recruits will not have to work from home and instead will learn to identify the typical Jonze client from an office provided by Jonze at a local Wall-Mart. The new recruits starting the Jonze program after January 1, 2010 will be the first to enter the new program titled "Deliverance."
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