Time bomb

Oklahoma City, OK

#5784 Feb 18, 2013
Right you really believe that ? It cost around $300k to run a typical branch each year you don't think they can do a little less business have dq go up a little more and justify closing the branches. Just check it out for yourself Eville is beefing up its workforce with lenders and collectors and paying them a lot less than in the field I might add.

As far as the end coming other people have put on here in great detail why the end is near you shouldn't have to be told but here is a summary.

They've cut expenses all they really can without crippling the branches but the company still hasn't had a profitable quarter since early 2008 (5 yrs now). So the company has to grow to increase revenue if it hopes to turn a profit. The company will not be able to do this without lowering credit standards to the point where dq will consume any new revenue generated by growth. It's a vicious cycle that they are willing to ride out for a little while longer just to see what happens but the facts are they are planning to shut it down, they are prepping to shut it down and the second 1/2 if 2014 will not find Springleaf operational as a consumer lender with a branch network

Since: Feb 13

Location hidden

#5785 Feb 18, 2013
Actually Northbound I should have answered your question without being rude. I can't really get specific with you on here without talking about things that may be considered sensitive information so you really do need to discuss this with people in person.

The short of it is the company is tripping over their feet trying to eliminate the need for branches and they are escalating at an alarming pace.
Fools

Ballwin, MO

#5786 Feb 19, 2013
miniCADaver wrote:
Actually Northbound I should have answered your question without being rude. I can't really get specific with you on here without talking about things that may be considered sensitive information so you really do need to discuss this with people in person.
The short of it is the company is tripping over their feet trying to eliminate the need for branches and they are escalating at an alarming pace.
Why are you worried about sensitive information, no one knows who you are!!!! Instead of hiding behind sensitive information, just point out the facts or don't say anything... Some people have families and they need their job, so if you know something speak we need to know
Time bomb

Oklahoma City, OK

#5787 Feb 19, 2013
If you need a job you need to seek employment elsewhere. Whether or not there is secret information or something going down set aside the company has not made money in 5 years this isn't a charity if a business doesn't make money then at some point it will no longer exist. Common sense says that it won't go on much longer.
Fools

Ballwin, MO

#5788 Feb 19, 2013
Time bomb wrote:
If you need a job you need to seek employment elsewhere. Whether or not there is secret information or something going down set aside the company has not made money in 5 years this isn't a charity if a business doesn't make money then at some point it will no longer exist. Common sense says that it won't go on much longer.
I guess you theory will be proven incorrect when we turn a profit later this year...yes the mortgages hurt but a profit is not far away...sorry to burst your bubble
Time bomb

Oklahoma City, OK

#5789 Feb 19, 2013
Well as has been previously stated even if the company turns a profit for a quarter of two that will be eaten up by the charge off that is too come some of us were around in the early 90's and know what "grow at all cost " reaps
Sorry to busy your bubble
Time bomb

Oklahoma City, OK

#5790 Feb 19, 2013
Also appears you were not really concerned with your family but just wanting specifics so you could repudiate them. Here are specifics the company hasn't made money in 5 yrs , the branch network is 1/2 the size it was then , everyone they are bringing in is either in loan from fortress or has an Internet lending background , upper management is so dedicated to the future of the company they don't even base out of our hq but in another state. While they claim to be expanding in Texas the truth is they just laid off a 14 yr dm via reduction in force and they haven't even begun to seriously look at retail space for these "new branches". If you want to be an osterage and stick your head in the sand your choice but you were warned. Don't you think it's a little troubling that you are holding on to "we might turn a profit by the end of the year" No one can argue that this is a healthy company.

Since: Feb 13

Location hidden

#5791 Feb 19, 2013
Fools wrote:
<quoted text>
Why are you worried about sensitive information, no one knows who you are!!!! Instead of hiding behind sensitive information, just point out the facts or don't say anything... Some people have families and they need their job, so if you know something speak we need to know
You don't know much about the Internet if you think you are safe behind a fake screen name... This is not top secret stuff here just things that are not appropriate to be discussed in a public forum.

This ends one of two ways for everyone in the field... Either the company figures out a way to stay a float which it looks to be trying to do by eliminating the need for branches, or they continue along the same path that likely spirals into BK.

The difference for your family is there are no severance packages in a bankrupt company.
Speculator

United States

#5792 Feb 19, 2013
Other side | Friday Feb 8
Having spent many years in Texas I would say the reason for the work environment was Gwin and Ramos not Lance I know a lot of people that I heard Gwin had the gall to stand up and ask "what are you going to do different this year" well after failing at her last two assignments maybe she should be asking that question in the mirror
Reply
Report this post

Stop criticising Gwin. She was successful in her last 2 roles. 1-Providing diversity in the ranks of senior management. And 2- dismantling the Florida division.

I'm sure she will continue to be equally successful in her new assignment.
Bigger Than This

Saint Paul, MN

#5793 Feb 19, 2013
You can be a real tuff guy and call folks out by name as long as you can hide. Real tuff guys.
Johnny Utah

Irving, TX

#5794 Feb 19, 2013
Isn't this fun. We're all black friends!
Time bomb

Oklahoma City, OK

#5795 Feb 19, 2013
Bigger Than This wrote:
You can be a real tuff guy and call folks out by name as long as you can hide. Real tuff guys.
Yeah so we can get singled out and fired for speaking our mind the way Tom Klienman did no thanks.
Outrageous

Springfield, IL

#5796 Feb 20, 2013
Time bomb wrote:
<quoted text>
Yeah so we can get singled out and fired for speaking our mind the way Tom Klienman did no thanks.
Outrageous !!!

"24% loans !?!
You're better off taking the bus and eating out of cans.
Explaining why it is a good idea to take out a loan with AGF/SPRINGLEAF is like explaining why it is a good idea to buy furniture or appliances through Rent-A-Center: The costs just don’t add up.
AGF/SPRINGLEAF will claim that sending them a Cease and Desist letter is ALWAYS a bad idea, but there are definitely situations where it is necessary to do so. My posts regarding this always state that you can still be sued, and I have never claimed someone should not pay their bills. However, they continually try to distort the truth by claiming that I have. One should consider the true reasons why AGF/SPRINGLEAF doesn’t want to be sent these letters.
AGF/SPRINGLEAF wants to be in their debtor’s ear as much as possible, not merely to get them to pay their bills, but to sell them as much debt as possible, no matter how unwise it is. They seek to keep people as uninformed and in-the-dark about their rights as possible. There are good reasons why the Fair Debt Act was passed, and their company has a horrible track record with so many who have worked for them as well.Look at the rude, insulting comments being made on this public website by current AGF/SPRINGLEAF employees posing as laid-off or fired employees and ask yourself if these are the kinds of people you want to be indebted to.
AGF/SPRINGLEAF often solicits people for additional loans that are not within their best financial interestsThese people are not deadbeats, yet AGF/SPRINGLEAF lies to them in order to make them vulnerable to their sales tactics. Not all businesses do these kinds of things. These people have a right to use the Fair Debt Act to get AGF/SPRINGLEAF o leave them alone.
According to the Fair Debt Collection Practices Act, Consumers being harassed by creditors must cease to do so after being contacted by certified mail by the debtor indicating their desire to only be contacted by mail.If you decide after contacting the debt collector that you don’t want the collector to contact you again, tell the collector – in writing – to stop contacting you. Here’s how to do that:Make a copy of your letter. Send the original by certified mail, and pay for a “return receipt” so you’ll be able to document what the collector received.Once the collector receives your letter, they may not contact you again, with two exceptions: a collector can contact you to tell you there will be no further contact or to let you know that they or the creditor intend to take a specific action, like filing a lawsuit. Sending such a letter to a debt collector you owe money to does not get rid of the debt, but it should stop the contact. The creditor or the debt collector still can sue you to collect the debt, however. "
Gance Lroves

Irving, TX

#5797 Feb 20, 2013
Time bomb wrote:
<quoted text>
Yeah so we can get singled out and fired for speaking our mind the way Tom Klienman did no thanks.
The comma is a punctuation mark, and it appears in several variants in various languages. It has the same shape as an apostrophe or single closing quotation mark in many typefaces, but it differs from them in being placed on the baseline of the text. Some typefaces render it as a small line, slightly curved or straight but inclined from the vertical, or with the appearance of a small, filled-in number 9. It is used to separate parts of a sentence such as clauses and lists of three or more things.
Time bomb

Oklahoma City, OK

#5798 Feb 20, 2013
Gance Lroves wrote:
<quoted text>
The comma is a punctuation mark, and it appears in several variants in various languages. It has the same shape as an apostrophe or single closing quotation mark in many typefaces, but it differs from them in being placed on the baseline of the text. Some typefaces render it as a small line, slightly curved or straight but inclined from the vertical, or with the appearance of a small, filled-in number 9. It is used to separate parts of a sentence such as clauses and lists of three or more things.
And mine doesn't work, what is your point ??? That when we go under you're going to teach an English class ?
Great company

Oklahoma City, OK

#5799 Feb 20, 2013
Corby

Euless, TX

#5800 Feb 21, 2013
Johnny Utah wrote:
Isn't this fun. We're all black friends!
LMAO!
Dr Stu Price

Irving, TX

#5801 Feb 21, 2013
Time bomb wrote:
<quoted text>
And mine doesn't work, what is your point ??? That when we go under you're going to teach an English class ?
Its ok little buddy, maybe we can pitch in and get you a refurbished acer.
Question

Ballwin, MO

#5802 Feb 22, 2013
If you can now apply on line and get your money and never go into a branch, why would a branch network be needed?

Since: Feb 13

Location hidden

#5804 Feb 22, 2013
Question wrote:
If you can now apply on line and get your money and never go into a branch, why would a branch network be needed?
Bingo!

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