I recently heard a recorded conference call. The topic FA. Joe Armetta was the speaker. I have never heard someone talk so much about nothing. It was a painful 60 min. recording.
Joe and Jeff please note I am a Top Ten Dealer. I am very busy. I don't have time to listen to Mr. Royal Heritage Joe Armetta run on at the mouth. What ever Joe Armetta is selling I'm not buying.
I've been reading these posts. I know some of the people who are doing the posting. Many of them are top 20 dealers. For the most part everyone agrees with the majority of the posts. They are very factual and reflect peoples actual feelings.
The facts are undeniable and the numbers do not lie.
Someone at PMD needs to give the dealer base an explanation for PMD's attrition problems. This explanation should include a remedy.
Everything else is just talk.
I've heard through inside sources that Joe Armetta's termination will be announced before the next conference. Most likely Jeff will hire someone outside the company who actually has executive experience and a proven track record.
Most of the dealers and managers believed Joe Armetta was in over his head. Jeff is expected to accept some of the responsibility for this firing at the opening speech in MN.
I feel this is positive news. From the very beginning I have felt PMD has unlimited potential. With the termination of Joe Armetta PMD management has shown they are willing to make the proactive decisions needed to remain the dominant player in their space.
Like any company PMD has some positive and negative factors.
The business model is fairly simple and the marketing scheme is unique. The staff at the home office are well intentioned and have the best interests of the dealers success.
The CEO Jeff Hosking is a good businessman, but has a bulldog mentality regarding his dealers.
The CMO Joe Armetta is also a good businessman but, is very focused on self promotion, has trouble being truthful and lacks loyalty from his peers.
Joe also crosses the line regarding his influence within the company. He gets kickbacks from his involvement the dealers credit card processing and advertising. When Joe was a dealer himself he was allowed to purchase discounted product used at trade shows thus inflating his stats.
Another unfortunate fact is PMD's mark up on product grossly exceeds the claimed 16-20%. Manufacture discounts and incentives never reach the dealers.
The dealers attrition is not disclosed to prospective new dealers. Over the last ten years PMD has gone thru hundreds of dealers. Their business today is supported by only 40 productive dealers. Half of which are responlible for the majority half of fwhich are compensated managers.
Good luck and do your homework.
This company is the biggest scam in the industry. You are required to purchase a "franchise" at a ridiculous up front cost between $15, 000 - $30, 000, then required to purchase all merchandise through them at a 30-50% mark up fropm what they buy it for. When your furniture is delivered the price lists have to be blacked out because they are raping their own dealers so hard that if they saw the prices they would feel scammed. I saw those prices. What I was being charged $957 for was costing my company, the company I entrusted my livelihood and family with, less than $600. They teach you their formula for calculating and quoting retail costs to your customers, which is your cost x 5. You then tell your customers that the clearance price is cost x2.5, "but if you get it today I might can do a little better than that".
The founder of the company is a bulldog crook who stole all the ideas for his company and called them his own, and one that will undoubtedly be penniless and friendless in the not too distant future. His right hand man is a failed Wall Street greaseball that is the in person definition of Human Slime. These people steal, lie, and distort the reality of your business, and set you up to fail from the minute you buy in. You are encouraged to but into every product line they offer, all purchased on your dime, with no discounts provided even for your samples, and they rob all of your assets by doing so. It doesn't matter to them, as they would just as soon see you fail, have you go out of business with a warehouse full of furniture you purchased from them essentially at retail prices, and get you out of the way to recruit and place another sucker in your spot in your city. If you do exactly what I just said, you will have donated $25, 000 to start your business, then will purchase about $100, 000 worth of goods from them, and will go extinct in business because you can't move any of their crap. That same furniture set I used as an example in paragraph one would sell at BIG LOTS for $995, $38 more than what I purchased it for through my parent company.
All in all, they have successfully lured a lot of talented and good hearted people to work for them, from the front office to the dealer base. The front office people just have jobs, and they have to look past what is being done to the dealers. The dealers are the ones who are ultimately suckered and stolen from. They are treated with little to no regard once they have ponied up their entry fee, and like I said, they would just as soon see you go down and bankrupt than to succeed, because then they can begin the scam again in that territory with a new gullible person who is looking for an honest way to support their families. Any dealer that comes on here and objects to this statement only does so because they are so deep into the company by this time that they feel they have to defend it, if for nothing more than to make themselves feel better about the poor vocational error they have made. I sympathize with you and liked almost all of you that I worked with, with the exception of that horrific yak from Baton Rouge. I made the same mistake, and got out in time to salvage some of my losses. Some is the key word in that last sentence. I lost my ###, just like almost everyone that has ever attempted to make this crooked business model fly.
The owner of the company is a villainous slug who cares about no one but himself. This includes the greaseball front man failed Wall Street pinhead, and all the snowed over managers that go out and perpetuate his lies and trickery. He would throw any of them into the fire to save himself, or even his ugly dog, who probably doesn't even care for him, either.
### OF THE EARTH LYING CHEATING SWINDLING DECEPTIVE CON MEN OUT TO ROB EVERYONE THEY ENCOUNTER IN THE NAME OF COMMERCE AND GOOD BUSINESS. MAY YOU ALL SUFFER IMMEASURABLE FINANCIAL RUIN IN THE NEAR FUTURE.
I began my PMD business in September of 2003. Previous to PMD, I had a career in the plastic packaging industry with a Fortune 500 company as a regional sales manager. My job required travel, a lot of it. I was on the road 2-3 nights per week. With a wife and three young children at home, I wanted to find something that would allow me to be home every night. I also wanted a challenge and an opportunity that would allow me to reach my financial goals.
I feel very fortunate that I found PMD. I had no experience in the furniture industry. I soon found out experience was not necessary. PMD has a program in place that, if followed correctly, people with any background can succeed at. I now own a small business that is thriving. PMD has since developed several new programs that have allowed me to exceed my expectations.
The most important thing is that I am home more often with my family!
I love the opportunity I have been given. I was running a 300 person manufacturing plant, dealing with upper management at my own company and the leaders of automotive manufacturers we supplied. I thought I liked what I did because it was a lot of responsibility and paid well, but, I had no freedom. I realized I needed a change when I could not make my son’s games or school plays. That’s when I fell into the PMD opportunity. I’ve been in the business 2.5 years. I have more freedom than I’ve ever had. I enjoy what I do more than I ever have. And, I make more money than I ever had.
I don’t have a job; I have a piece of the American Dream. I get to go to work and help people find a product that’s going to make their life better and I can provide that product at a great value to them. It’s not easy - but nothing worth doing ever is and I never miss my son’s games anymore.
The opportunity I have with PMD is the most exciting, rewarding, and profitable I have seen in 35 years in business. I have owned two other businesses in that time, and this has been profitable since day one. Four years later, the opportunity looks better now than it did at first. I would urge anyone considering a change of career to get on board now, as you can still get in on the ground floor of an exciting business opportunity.
I have worked over 25 years building businesses and wealth for others. As is typical in the corporate world, great rewards and wealth were offered by former employers, but in the end, promises were left unfulfilled. They got wealthy and I had a J.O.B. (Just Over Broke).
I admit I was skeptical at first and failed miserably my 1st year in the business. I was one of those guys who had a better way of doing things and wasn't totally committed to the PMD process and system. However, PMD was serious about their commitment to my success. They provided the system, training and support that allowed me to concentrate my efforts on becoming very profitable.
After 5 years in the business, 1 year being a complete idiot and 4 years of hard work, I have developed a business that generates income for me in excess of $150, 000 per year. I have the piece of mind knowing that my business generates this income whether I am present or not I now have all the things I worked so hard for -time, freedom and financial security.
For me, the PMD opportunity came along just at the right time and was that once in a lifetime opportunity we all seek.
When I joined PMD 6 years ago, I had no idea that it would be such a phenomenal opportunity. To watch the rate of growth within the company has been truly amazing. I love the people that are involved in PMD. Everyone from home office to the management staff to other dealers everyone is always ready to help one another. I think that is really unique in the corporate world. I feel that I have a piece of the American Dream. I am in business for myself, yet, not by myself. I love the freedom of owning my own business, but still having a proven program that works. The PMD opportunity allows a dealer to gain financial freedom and still have quality of life. I love this business.
After my first year in business, I am astonished how working this simple business model on a daily basis pays off in a HUGE way. By following the program to its entirety during my first year, I accomplished what I initially projected would take me several years. It’s the only business that I know that will allow an ordinary person with ordinary income, education and experience to create an extraordinary income during the first year with an extremely small risk.
PMD is the biggest BS bait n switch business model. I invested everything I owned and lost it all due to the fat "geof haskie" This fat *** makes 30 % on everyone's purchases. What a greedy [censored]. All of the people who have made positive remarks about the company are upper management and were required to do so. This company will get what they deserve. There mattresses all suck and are over priced. If the current dealers really new how much beds cost...
I now sleep on my crazy quilt mattress. This company ruined my life!