Robert M. Van Patten, YTB Chief Executive Officer commented, "While the financial results for the quarter have not met our internal goals, we are pleased with the continued signs of improvement and stabilization in our Company.  General and administrative expenses decreased by approximately $6.0 million or 55%, compared to the same quarter of 2009, primarily as a result of our consistent focus on trimming overhead and nonessential corporate expenses.  By seeking to continuously build capital reserves and increase our business and travel store owners, I am confident we have the right plan in place for future growth."

J. Scott Tomer, Chairman of YTB added, "In addition to our travel related products, we are striving to solidify the ZamZuu Product Distribution Systems with the appropriate high commissionable product mix, technology platforms and marketing programs in order to position YTB as a leader in the industry.  The growing trend of online retail sales is remarkable and our management team and Independent Marketing Representatives are focused on building and selling the most appealing business solutions possible for those individuals seeking to enhance their financial future."

Source: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=30969315&topic=YTBLA&symbology=null&cp=null&webmasterId=92085

YTB International Inc., a multilevel marketer of travel agent Web sites, saw its net loss widen during the quarter ended June 30.

The company posted a $1.59 million loss in the second quarter compared to a $199,000 loss during the same period last year. Revenue plummeted to $18 million, down nearly 59 percent from $43.7 million during the second quarter of 2008.

http://stlouis.bizjournals.com/stlouis/stories/2009/08/03/daily68.html

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Preston Blair and Jane Blair and YTB at the 2009 YTB convention.

There are alwyays two sides of the story.

Here is one person's perspective on YTB. Here is one person's perspective an in no way is endorsed by theytb.com.

YTB Convention 2009

Lou Brock on YTB 2009

The Women of YTB

The judge questioned the plaintiffs standing under the state?s consumer protection laws and noted that the plaintiff?s earlier case had been dismissed on June 5. While the plaintiffs can seek redress in a higher court,? the Judge said, ?As a general rule the Court is not fond of ?ill-founded requests for reconsideration of matters previously decided.? "

The Wood River City Council voted 5-0 Monday night to approve a funding agreement with Aventurs Development LLC for preliminary work on the proposed project known as Wood River Landing. The council also approved the preliminary plat for a two-lot commercial property.

The development company is planning to build a 100-room franchised hotel – Holiday Inn Express – on a 14-acre site near the intersection of Illinois Route 143 and Illinois 255, along with a Country Kitchen and gas station.
"It really is going to be a good thing," Mayor Fred Ufert said.

Ufert said plans have been in the works to bring a hotel to the city for some time.

"We've been working on a hotel project for awhile now," he said.

YTB International announced tentative plans last year about building a hotel and convention center near its headquarters along Route 143, but the development deal fell through. Aventurs purchased the acreage from the troubled travel company after the project collapsed.

Ufert said the company hopes to break ground on the project by late August or early September.

"Right now, we are awaiting the state to give the final approval for it to be located in the enterprise zone," he said.

The city needs the state to approve the land use change. The city is located in the Riverbend Enterprise Zone, which is one of 96 enterprise zones throughout the state and three in Madison County. Besides Wood River, other municipalities in the Riverbend zone are Alton, East Alton, Bethalto, Hartford, Roxana, South Roxana and Madison.

In 1982, the state established the enterprise program as a way to stimulate economic growth and neighborhood revitalization at a local level, which is accomplished through state and local tax incentives, regulatory relief and improved governmental services.

According to the Illinois Department of Commerce and Economic Opportunity, businesses located or expanding in enterprise zones may be eligible for various incentives, such as the retailers' occupation tax paid on building materials, an investment tax credit of 5 percent of the qualified property, and an enterprise zone jobs tax credit for each job created in the zone for which a certified dislocated worker or economically disadvantaged individual is hired. In addition to the state incentives, each zone offers distinctive local incentives to enhance business development projects.

Ufert said the developers conducted a study and determined, based on other hotels in the area, they would be filled at 69 percent of capacity weekly.

It would be the second location for Country Kitchen in Illinois. The restaurant chain is located in Princeton, Ill., as well as locations in 22 other states and Canada.

"The council believes this is going to be a really nice addition to the city," Ufert said.

Council member Cheryl Maguire said she was thrilled with the development.

"This has been three years in the making with contacts, phone calls and meetings at City Hall," Maguire said. "This has been a collective effort, and groundwork is ongoing for development throughout the city, not just the east end of town."

http://www.thetelegraph.com/news/city-29359-development-hotel.html

Michael Brent served as CEO of REZConnect for a base salary of $325,000, which increased by $25,000 annually after December 31, 2008, YTB said. Brent was also entitled to an annual cash bonus equal to a percentage of YTB?s net pre-tax income.

Derek Brent served as president of REZConnect for a base salary of $180,000, which increased by $30,000 annually in 2007 and 2008 and other benefits.? Both Brent?s were also entitled to an annual cash bonus and are indemnified against future legal actions against YTB.

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http://www.travelagentcentral.com/consortia/ytb-sells-rezconnect-technology-unit-16235