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February 11, 2012
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INTERACTIVE
Response To: No Listings For Bank Of America, Says Realtor.com (rcotton - 05/08/2001 07:20 AM)

NAR, $10+ milllion, and other tid-bits
Posted By: btolle - 05/09/2001 01:06 AM

"....the NAR squandered 10 + millions of the memberships money on a start-up called RIN. Does anyone else remember that debacle?..."
My memory may be better than yours on this subject. It was actually $16 million. I remember it well because quite a few of us were screaming at them at the time telling them that they were throwing money away. They didn't listen then and they don't listen now. Incidentially, the guy they hired to run RIN paid his wife about $250,000 of NAR's money as a "consulting fee". Wonder who he was related to on the Board of Directors?

That may have been the same year that the financial statement had an interesting item in it. It showed about $250,000 for computers under the heading "Overhead" along with items like "Rent". I am not a CPA, but my CPA would probably tell me to list something like that under "Capital Expenditures". Unless of course, I was trying to stick it off in a corner somewhere so folks might not notice it.

BTW, I wonder how Sharon Millett showed her gain on her homestore stock? Funny thing, she claimed she made a full report to the Board but would never make it public. Shouldn't have been that big of a deal, after all, she "claimed" she only made about $8,000. A look at the stock prices about then tells me that she sold the stock to her brother-in-law and he made the $150,000 profit. Wish I had an in-law like her!

Just start reading the fine print, you will see lots of interesting things going on.

Bill Tolle
ExclusiveBuyersAgents.com
BillTolle@ExclusiveBuyersAgents.com


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