United First Financial: Will the last person to leave please turn off the lights?
This was left as a comment on an article on this blog. I have no way to verify the accuracy of any of the information, but wanted to share it with my readers.
As of June 2010, UFF is all but out of business. They had their last round of lay offs at the home office just yesterday and are now down to about 8 people running both the client and agent support lines. Thats down from around 70 a year ago.
All of their last ditch efforts to boost sales have failed and the next round of lay offs in a couple of months from now will be when the company closes.
The MMA was a great product, but poor management, questionable business practices and just plain stupidity from the owners have got UFF to where it is today. As the company began to slide, and more and more of us were laid off, the owners continued to spend thousands of dollars on creature comforts for themselves around the office. It was sad to see.
I felt like I worked for some Wall Street, big bank executives who lived in some fantasy land and refused to change their life style while all of the “little people” around them were being laid off, or having their hours cut, etc. I wouldn’t be surprised to be standing next to one of them in the line at the unemployment office soon.
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Comments (3)
Mike Of penny stock picks
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Hi Tracey, They will survive as them type of company’s always do, I could mention many bad company’s that have been in a lot worst conditions that still manage to make it work by pump Prs and a bit of pipe finance. The sec need to wake up and start to crack heads.
All the best Mike.
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Ufirst Financial software users jumping ship : Sequence Inc. Fraud Files Blog
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[...] discussion board where the members were talking about United First Financial. As you saw here, some of the top people in UFF see that the company is going under, and are looking for a way to take this horrible software to a new company, and leave all the dead [...]
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United First Financial is being shopped to private equity groups : Sequence Inc. Fraud Files Blog
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[...] worthless “Money Merge Account” software via a multi-level marketing business model is on its last legs. Top members of the salesforce are plotting how to oust other sales people and keep the profits [...]
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