Sales of Timeshares a/k/a "Crimeshares"

I was recently in Nevada this past week as part of my nationwide book and speaking tour. Since my events all finished on Friday, my girlfriend decided to travel with me and we spent the weekend enjoying Las Vegas. While we leisurely strolled through the beautiful Venetian Hotel and Casino on the Las Vegas strip, Angela decided to spend some time shopping in one of the luxury stores, and I said that I would wait for her while I relaxed with a cup of coffee by the “indoor river” and enjoyed people watching.

Not more than a few moments later, I was “accosted” by one of the solicitors for the new Marriott Timeshare Resort, which has a booth in the mall part of the Venetian. The solicitor was a nicely dressed older lady with a professional looking name tag and a red blazer. Insofar as I had some time to kill, I decided to play along (I talk about Timeshares on page 185 of my book and have long been fascinated about the sleazy sales process of this otherwise legitimate product). Here is the summary of how our conversation went:

SALES LADY: How much longer are you here for?
ME: Two more days.
SALES LADY: Where are you from?
ME: Colorado.

(Note: She was “qualifying” me. My answers showed her that I was both going to be in Las Vegas long enough to take a “tour” and that I was from out of state, likely meaning that I do not already “own” a home in the area).

SALES LADY: How would you like some free show tickets?
ME: Free? Sure!
SALES LADY: Come look at our list of shows! (She took me over to their counter about 10 feet away and handed me off to the “Counter Lady” who took over while she went back to rope in other people trying to enjoy their Sunday afternoon).
COUNTER LADY: Here are the shows we have tickets for. Some are free and others are only $5 (she flipped through a binder of show brochures).
COUNTER LADY: Where is your “wife?”
ME: I don’t know; she is shopping in one of the stores.
COUNTER LADY: Can you call and have her come here?
ME: No.
COUNTER LADY: Can you sign her up for a tour?
ME: Sure, absolutely. We have that kind of relationship. (sarcasm)
SALES LADY: Who do you work for?
ME: I don’t work for anyone.
SALES LADY: Does your “wife” have a job then?
ME: No. (I don’t have a wife yet, so how can “she” have a job)
SALES LADY: Are you a student in school?
ME: No.
SALES LADY: So, you live with your parents?
ME: No. (Puzzled look on the Sales Lady’s face, and then she walks away again).
COUNTER LADY: Here is one of our brochures. The next available “tour” leaves in 30 minutes. All the ones after that are booked.
ME: How much do the timeshares cost?
COUNTER LADY: We can’t tell you that. This is why you need to allow at least 2 hours for the “tour.”

(Note: When the Sales Lady overheard the talk of a “tour,” she came back and pulled the brochure I was reading out of my hands. She wrote her name on the back of it to make sure that she got “credit” and then handed it back to me).

ME: I read here in the fine print of the brochure that it says I can ask any representative for a copy of the cost and fees disclosure. Can I please see that?
SALES LADY: I don’t know anything about that. Nobody has ever asked. (She walks away).
COUNTER LADY: Where does it say that? I don’t know what you are talking about. I have never seen it.

By this time, I had proved my point and since Angela was done shopping, I was through with my little experiment. As you can hopefully see from above, I answered all of their questions but did not volunteer any extra information. Both the Venetian and Marriott are fine and well respected companies, but why do they tarnish their brand by engaging in such sleazy sales tactics for an otherwise legitimate product? Obviously, there is big money (and commissions) in the timeshare industry. Unfortunately, I have seen the above scenario play out multiple times, and an uneducated consumer is sitting prey.

Why can’t the timeshare people just come out and say here is how our product works: You buy X weeks per year and the cost is X? Timeshares are a great product for some people and I know many who enjoy them, but I feel that consumers should be given all of the facts and allowed to make their own educated decision (not just with timeshares, but with any transaction). Why do they need to entice people with “free” show tickets and make them take a “tour” to get a price? I do not like high pressure sales tactics like these – caveat emptor.

What do you think about timeshares or their sales tactics? Any timeshare experiences (positive or negative) you would care to share?

Warmest Regards,

Braun Mincher, Author, Speaker & Entrepreneur
The Secrets of Money: A Guide for Everyone on Practical Financial Literacy
Visit my Website: http://www.braunmincher.com/

2008 CIPA Book Awards - 3rd Place EVVY Winner

At the annual awards banquet for the Colorado Independent Publishers Association on Friday, March 28th, The Secrets of Money: A Guide for Everyone on Practical Financial Literacy, won 3rd place in the Business/Finance category!

Key West, Florida & Captain Tony

As part of my nationwide book and speaking tour, I was recently in Florida and spent time in both Miami and Key West, the latter being where I wrote a substantial portion of the book when I lived there for 3 months. It was nice to return for a few days to a place that is so special to me. I am also pleased to announce that the "Historic Cigar Alley" store in Old Town Key West is now stocking my book -- technically, I think that this makes them my "Southernmost Bookseller in the United States." If you ever make it to Key West, please stop by and say hello to the owner, Chris -- I will also likely be returning in a couple of months for another book signing.

On the visit to Key West, I also got to meet up with an old friend -- the infamous Captain Tony. At 91 years old, this guy is a true living legend with LOTS of stories who has been friends with Jimmy Buffett for many years. After coming to Key West in 1948 (he was running from the NJ mob due to some gambling "problems"), he ran a bar for many years and was elected mayor in 1989 after 4 previous tries. He now has 14 children and still stops by his old bar occasionally. I met Captain Tony the first night I arrived in Key West back in 2005 and he told me to come see him again once the book was done, which I did on this recent visit as you can see by the photo.

CNBC Interview - Author Manisha Thakor

My friend, Harvard MBA, and a fellow personal finance author, Manisha Thakor ("On My Own Two Feet: A Modern Girl's Guide to Personal Finance" -- Adams Business, 2007) was interviewed today on CNBC Power Lunch. Click Here to see the video. We are both equally passionate about helping people become financially literate, and her book is focused on educating young women. Way to go Manisha!

1st Quarter 2008 – Update & Newsletter

Although we are now well into the New Year, I hope that you enjoyed the holidays and I wish you a healthy and prosperous 2008! Since my last email back in December, I have had a lot of exciting news that I wanted to share and update you on relating to my new book and nationwide Financial Literacy Initiative. As you may be aware, I released The Secrets of Money: A Guide for Everyone on Practical Financial Literacy just over a month ago, and I am pleased to report that the project is growing rapidly.

For me, this project is more than being about a book -- it is a passionate initiative and an effort to further a nationwide movement. With daily media coverage on the Foreclosure, Credit and Mortgage Crisis, the Stock Market Meltdown and the looming Recession -- now more than ever, it is important for ALL consumers to be financially educated. About 3 years ago, after selling my telecom company, I began working on this important project. After being completely amazed at the lack of basic financial literacy of most otherwise well-educated adults, I wanted to find a way to make a positive difference in society for current and future generations. My goal is to better educate ALL consumers, and not just the business or financial savvy, on the topic of Practical Financial Literacy, and to bring a new awareness to the Financial Literacy Epidemic sweeping the nation. Here are some interesting and staggering statistics:

• Savings rates dipped to a negative percentage of income in 2005, something that has not happened since the Great Depression. (Source: U.S. Commerce Department, 2006)
• In 2002, more people declared bankruptcy than graduated from college, filed for divorce or were diagnosed with cancer. (Source: CARE Program & Harvard Law Report)
• The Social Security system, which many people rely on for retirement, will be bankrupt by 2042. (Source: SocialSecurity.gov)
• Americans' #1 fear is running out of money during retirement. (Source: USA Today)

If you have not already had the opportunity to do so, I highly recommend you pickup a copy of the new book for yourself or for someone else who may benefit from it. I would be happy to personally autograph or inscribe it if you buy it through our website (please request this at checkout).

Financial Literacy Quiz
In order for people to test their own knowledge of Personal Finance, I have setup a special website at www.FinancialLiteracyQuiz.com. There are 50 multiple choice questions on a variety of topics. Give it a try and share it with your friends -- a score of 75% or better is considered "passing." Sadly, the national average is currently only 58%. If you do not "pass," the quiz results will point out areas that you should get some additional education on. Obviously, the new book covers all of these topics in a concise and easy to read format.

Media Coverage
We are fortunate to be receiving a significant amount of positive media attention regarding the nationwide Financial Literacy Project and book release. The Northern Colorado Business Report (NCBR) recently published an impressive feature article which does a great job of summarizing this initiative and the Denver Business Journal (DBJ) also printed a terrific spotlight article. Additionally, I have done a variety of nationwide radio interviews, including with Fox News Radio (Dr. Ray Watson), CNN Radio (JD Messinger), The Bonnie Graham Show, Underground Shopper (Sue Goldstein), and The Rude Awakening Show (David "Bulldog" Rothner). Please click on the links above or visit the Events page of my website for more information.

Book & Speaking Tour
In early January, I began traveling the country for my Nationwide Book & Speaking Tour, and I am continuing to add more dates and cities for the rest of the year. In just the past few weeks, I have made appearances in Denver, Houston, Phoenix/Scottsdale and Las Vegas. In the coming weeks, I will be in Miami, Key West, Las Vegas (again!), San Antonio, New York City and Los Angeles. Please check the website Events page to see if I will be coming soon to your area! If you are part of an association, professional organization, corporation or school (high school or college) and would like to have me come speak at one of your events, please contact me.

Reviews & Testimonials
The book itself has been getting a lot of positive support, attention and "buzz." It garnered very complimentary reviews from both Armchair Interviews and Kirkus Book Review. I even received a nice letter of support from Senator Wayne Allard relating to my nationwide Financial Literacy Initiative. The highlight of my day is reading all of the emails and letters I receive from people telling me how this book provided new insight and changed their lives. Please visit the Testimonials page of my website to see a sample of these, and I would also welcome the opportunity to get your feedback on the book as well.

Bookstores & Distribution
Although most of the books are sold in conjunction with the speaking tour and public appearances, as well as in large quantities to associations, corporations and schools, traditional retail and book store distribution is still very important, as it makes the title easily available to individual consumers across the US. We have had great success with Amazon, but I am pleased to report that the book is now stocked at all Tattered Cover Bookstores (one of largest independent bookstores in the US). We are also still in talks with Barnes & Noble and hope to be able to announce that they are stocking the book soon. I know many of you have unsuccessfully attempted to buy copies from their various stores across the country, and I thank you for your support, patience and emails. If you are interested in a quantity discount on the purchase of 100+ books for use as customer or employee premiums, or for educational purposes, please contact me.

Challenge to Schools
We would never think of letting students graduate high school or college without being proficient in the areas of math, English and science, but that is exactly what we do when it comes to their understanding of basic Financial Literacy. Would you believe that currently only 7 states require the completion of a Personal Finance class in order to graduate? In order to help more states and schools teach basic Financial Literacy, I have issued a unique "Challenge to Schools" wherein I will provide free books and the class curriculum, under certain conditions. I have been working closely with school administrators and law makers across the country and am pleased to report that this is really gaining traction and attention.

Summary & Closing
Thank you so very much for all of your supportive comments and emails. Obviously, I think this is a very important project (is it too much to ask to change the world?), and that the book is well written and should be a "must read" for EVERY consumer (whether they are 18 or 80, or anywhere in between), but it makes me feel especially good when I hear how my efforts have changed a person's life. After spending more than 3 years and countless hours researching, writing and editing, it is nice to see this project enter the next phase with a tangible resource being delivered. Please visit my website and BLOG for frequent updates. I cannot thank everyone enough for their continued support.

Warmest Regards,

Braun Mincher, Author/Speaker
The Secrets of Money: A Guide for Everyone on Practical Financial Literacy
Available at www.BraunMincher.com and from other booksellers nationwide.

Kirkus Book Review

Yeah!! The book just got a very complimentary review from Kirkus:

"A handy guide to personal finance and a convincing argument for improved financial literacy. Secrets is a near-encyclopedic compilation of financial advice from Mincher, a self-made multimillionaire... In many ways, the story of how the author made his money is as interesting as the financial counsel he provides... Mincher offers brief chapters on just about every conceivable area of financial inquiry, from credit checks to buying a car to investing in the stock market... But as such it is very valuable indeed; clearly organized and helpfully broken up into bite-size sections, the information is easy to digest. Underpinning it all is the author’s fervent belief that most people need to know more about their money... Useful, credible and smart."

Click here to see the complete review on their website.

Never Too Early for Financial Literacy

Young Kole is starting to learn about Financial Literacy at a young age, proving that it is never too early for parents to teach their kids about the personal finance topics that will affect them for the rest of their lives. Help someone you know, whether they are young or old(er), by introducing them to The Secrets of Money: A Guide for Everyone on Practical Financial Literacy, which is now available online and in bookstores everywhere!