FTD sold!

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Thank you, Cathy and everyone else, for this thread. What an education!

I'm so glad that we've chosen to get rid of our wire service. More importantly, I'm so glad when we got into the flower business four years ago I never relied on a wire service while I was learning how to market our flower business. (Mainly I didn't rely on the wire service because I didn't understand it and my business partner hated the concept from day one. He was influenced to hate it by the person he bought the business from).

That being said, I feel for all the flower businesses around the world that have grown up with wire services for decades. I can see why the decision to break loose from them can be detrimental (and possibly a blessing) but certainly no easy choice.

Reading all of these posts I'm trying my darndest to think of an alternative that individual florists can do and still be lucrative at the same time to all of us. I can't think of anything, but I'm going to keep thinking about it. I have the feeling that will all of this discussion you all have attempted to figure out an alternative and have not yet come up with anything that you see as being workable.

I have to say that my blood boiling wants to see these wire service corporations fall on their faces. I generally don't like to wish the negative for something because I know the ramifications of that can backfire, but I'm seething here reading this.
 
Even more attractive, FTD doesn't pay the florist who fulfills the order for several weeks.
Well with the new ownership thinking along this line, it gives you a good sense where their priorities are...and it's NOT with the florists.

RUN Florist RUN :cool:
 
Does this mean that the new ownership is looking to make money off the float time, which would be from the time they received payment from the client until the time they pay the florist? Would that time period become a part of the income stream for the new ownership?
 
Does this mean that the new ownership is looking to make money off the float time, which would be from the time they received payment from the client until the time they pay the florist? Would that time period become a part of the income stream for the new ownership?
Bingo.....exactly...
 
People, we must keep in mind that FTD is a FOR PROFIT company, and I'm not talking about them helping you to make a profit. They make a profit by taking from you and giving to themselves.
I probably should not quote myself...but...

Regarding the deal with United Online...Soenen says: "As a significant advertiser [online] United Online is the 'ideal partner' the 'help FTD' realize greater efficiencies in media spending and customer acquisition.

Just making sure ya'll get the connection in the above two bolded, underlined statements...(and I don't have anything better to do today other than to keep your heads in the game ;) )
 
In the new July 2008 edition of Florist Review there is article on page 16 talking about the sale of FTD. Frances Dudley retraces the origins of FTD from John A Valentine and the cooperative until the sale in 1994 to Perry Captial Corp. for 150 million.

In 2004 it was sold to Leoanrd Green and Partners for 420 million. Now 4 years later to United Online for 800 million. Somebody made some great profits with these sales, but it wasn't the members. In 1994 members got 1500.00 to 1700.00 for their buyout of stock during the sale to Perry Capital.

I remember the people I worked for selling out and getting their check and not long afterwards they wanted out of the floral industry.

FTD was called the "Grand Old Lady" and still is today. However, will she remain the "Grand Old Lady" after Mark R. Goldston get finished with her? (JMHO) He plans to find out what their (florist) needs are.

At the end of the Article Frances states she is glad she can remember when the florist were running FTD, those were some grand old times.
 
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