Consolidated Resorts Pre Plans Bankruptcy in violation of Federal Law. The Federal Bankruptcy Case will most likely will be filed in the State of Nevada, to be filed in the next 72 hours. The filing will be on PACER and we will provide you with the filing.
We are in the middle of a DEEP investigation that has absolutely verified Criminal Conduct on the part of Arthur Spector and his associates.
Last night all of the paying clients that flew into Las Vegas expecting to receive pre paid accommodations at The Tropicana Hotel and Circus Circus were TURNED AWAY at the specific instructions of Consolidated Resorts Vice President James MONDOYUDIAS (sp)
Here is what the front desk was provided and told to tell the guests:
We will be providing updated coverage on this as well as all of the names of the guests who were turned away from The Tropicana Hotel and Circus Circus. Oh... You can go to Summer Bay Resorts if you want to pay another fee.
Hey Mike Rounds... Why did you tell these guests that they could not stay at your properties?
You will not believe this story.
God Help this company!
Here is the INTERNAL MEMORANDUM from Tropicana instructing their personnel to turn away all guests:
WE WILL POST ALL OF THE NAMES OF THE VICTIMS SOON.
Comments from The Las Vegas Journal
One and Only wrote on June 28, 2009 08:01 PM: Is it really so shocking? Spectorvision was sliding when Goldman "stole" it for $350mil. Once GS started signing the checks, it was a free-for-all. Between bong hits management was struggling to let the company bleed out, not too fast...but, not too slowly either. Got to blow it out, but not while they can make us buy it back. Watch who comes along and takes this pig out of bankruptcy. Those punks at GS got it broken off in their AS...NY!
Dark Gable wrote on June 28, 2009 01:11 PM: Regarding the Secret Witness hotline, it is a friggin' joke. I have called on numerous felonies and have gotten NO RESPONSE! Crimestoppers and all those other numbers are useless, Metro would rather cut parking tickets and harass the homeless than tackle real crimes.
Oh Really! YOUSUCK wrote on June 27, 2009 05:37 PM: HAHAHAHHAHAHA
I LOVE this. I knew a woman who worked there as a phone sales rep and then became a supervisor and was pulling down over $90K a year as a drug addicted idiot. The fun HAD to end sooner or later. I was watching truly astounded as person after person brought home paychecks in the thousands per week and knew that this was a sick immoral activity, just like all the banks and homebuilders.
Capatilism left untamed will eat its' own young!
And to the poor slob who posted below that he loves his timeshare...
Man, YOU are how all those people made all that cash because you swallowed that hook so deep it's STILL in you, jesus are you an idiot!
John wrote on June 27, 2009 05:29 PM: And to top it off the RJ buries a story that is HUGE. The single largest layoff by any one business in Nevada history! over 2000 people lost theirs jobs last week at this Goldman Sachs company!!!!!
John wrote on June 27, 2009 05:27 PM: Why is the RJ so lame? They did not even mention that this compnay, Consolidated Resorts, is owned by Goldman Sachs.
Yep, that's right, the US governement is helping to rip off taxpayers by selling them timeshares.
I contacted the legal counsel for Consolidated last year and told them of several mangers who were not only doing drugs at work but running a grow house out of one managers house and selling to the employees in the call center!
Did they do anything? No.
I calledsecret witness at Metro and did the same thing. Did anything happen? No!
The company was another example of how several guys got together made a butload of cash by selling to Goldman Sachs and then just dissapearing.
It is an eveil company run by idiots.
Charell Williams. wrote on June 26, 2009 10:15 PM: My name is Charell. I've worked in timeshare sales since 2001. Before timeshare, I worked for Xerox in marketing. I was working out of EPCOT in Orlando while employed by Xerox. I attended ERAU Aeronautical University. I bring this up cause timeshare sales reps have many different backgrounds, each one interesting. Fortunately Xerox was the foundation of my Professional life and this in my opinion greatly contributed to my success in timeshare as the industry has an extremely high turnover rate. What I observed in this industry is the intentional mistreatment of it's independent contractors such as myself. I decided to fight back. The timeshare industry has many very talented people and they/we are being exploited. When one wants to leave the industry, it's very hard to find employment cause timeshare sales develops what type of skills besides closing? None. If we can get the interview, we can close the job. However, this is not attractive to potential employers unless it's a sales position. Also, as a result of the economy, many timeshare reps were fired, laid off, etc. As a timeshare sales agent, we are documented as independent contractors so the company can save money along with many other benefits for not having sales employees. Thus, we don't qualify for unemployment benefits. How are we to live in transition. I have written the labor dept, the White House, to bring this crisis to the attention of the World. I had to get two part time jobs after timeshare and was laid off from those jobs and I was awarded 50 dollars a week for unemployment benefits, and since that has run out. I am not the worst case.
Charell Williams.
Former V.P. wrote on June 26, 2009 06:06 AM: As a former Vice President I saw firsthand how salesmen would convince someone to spend $20,000+ on a timeshare in a little over an hour. I was amazed at each sale. However, I don't think all timeshare owners are dummies. Many made an investment in taking future vacations with their families. If it forced them to take a vacation with their family because they bought a timeshare then what they spent on the timeshare was well worth it.
As for Consolidated, the top management was lacking in understanding running a multi-million dollar enterprise. They ran it seat of the pants - by gut and what they thought they could get away with. Yes, they weren't the most ethical group and caused me to lapse from my good judgment once in a while. That's why I finally left after several years. The foul mouthed beratings that were an almost daily occurrence were just too much. Congratulations Mr. Spector!
Consolidated sucks wrote on June 26, 2009 02:18 AM: One of the reasons why Consolidated was in so much trouble was because it was managed by idiots. Managers were put into positions because they were supplying other managers with drugs and sexual favors. Even though a background check / drug test was required for employment, it was never enforced because no one would have passed it. Oh yeah, and our sales pitch and offers were mostly deceptive, if we didn't lie, we would have been fired.
Hit the Fan... wrote on June 25, 2009 03:57 PM: When they say the Sh*t hit the fan, well it did in my timeshare... The roof collapsed and the pipe broke and all the sewage was spread throughout my timeshare by my fan which continued to work. Must be an omen to the bad times to come for the timeshare business...
somone wrote on June 25, 2009 02:41 PM: Is nyny hiring casino hosts? I would love to do that!
casino host wrote on June 25, 2009 02:33 PM: hey if you are a lying scumbag who can sell timeshares, we could always use your kind as a host over at NYNY!
beeejay wrote on June 25, 2009 02:31 PM: Vegas is evil and I love it.
America---baseball, hot dogs, apple pie, political bribes, sweetheart deals. We live in a cesspool of accelerated Natural Selection where man is evolving into a lying, thieving, backstabbing super race.
We all think we are so great and better than the animals around us. Maybe some people, a small minority, have reached another level. The vast majority of us are hyenas and jackals biting at the heels of others and tearing at the flesh of the less fortunate.
America is Darwin's ultimate proof.
I loved Timeshare wrote on June 25, 2009 01:56 PM: you want someone to blame? Blame MARIA CALBER!! She had to be greedy and take every location on the strip... paying rent money to booths that were there primarily to babysit. Thanks Maria. It's not the concept of timeshare that is a scam and it's not the product. It's people who work their way up the ladder by sleeping with people... Are you surprised that a former maid put a multi million dollar company under? I Just wish we all weren't so brain washed thinking that they really cared about us. Good luck everyone. At least we are all out of our non-competes!!
Ralph wrote on June 25, 2009 12:30 PM: To all you ninnies. I'm quite sure I could sell timeshares and be very successful at it if I wanted. But I couldn't go home and sleep at night. That's the problem. I'm not anti-gambling either but gambling isn't being sold as a "good deal", people KNOW they could win or lose. These timeshare salesmen are bottom of the barrel crooks and most of them would steal money from their own mother. Unlike most sales jobs, IT IS NOT AN HONORABLE PROFESSION. Most timeshares are sold to minorities and poor people who can't afford them. Look up the demographics for yourself or if you like just go hang out at the timeshare pool and snd watch the fish swim by with their timeshare salesman escorts. I lived at a timeshare (business trip) for over a month and observed all their dirty little tricks and who their clientele was. It was an eye opener.
ralph wrote on June 25, 2009 12:22 PM: Owner. If you bought a timeshare you are not a very smart person. SORRY. Over 30% of your purchase price went str8 into the salesmans pocket and his bosses pocket. Did you finance your purchase? What rate are you paying? You could have rented a suite at the Bellagio every time you came to Vegas for what you paid, and had room service to boot. Timeshares are NOT a good deal and I can prove it. Now that there is no appreciation in R/E and the market has tanked, they are even more of a rip-off. Did they use a green pen (the go sign!) when they closed your deal? Here's your test. Ask all the timeshare salesmen how many timeshare units they personally own. It's ZERO. Sure, it's a nice place, sure it's a nice room. Sure there are some tax benefits. But overall, you got HOODWINKED. Period. Maybe you could at the time, but in general, most of the people who buy T/S can't afford them to begin with, and that's a Fact Jack.
Owner wrote on June 24, 2009 10:53 PM: Well, I am an owner and consider myself to be very smart and literate, to those rude comments made by people that obviously are not successful in the business and probably cant afford a timeshare themselves. I love my timeshare and am very sad to see this happen. I also enjoyed the workers there, and sorry to see them go thru this. I myself was laid of in January, unexpectedly, so I know it really sucks! I hope things get better soon!
Cesar19 wrote on June 24, 2009 07:24 PM: For the people with their disrespectful comments and doubt. I am a consolidated employee(or was) and I got a call today to go get my last paycheck tomorrow. Definetely very happy about, have a lot of respect for the company that goes out of their ways to do things right.
mauimrs wrote on June 24, 2009 06:42 PM: Well I can tell you we here on Maui would love to see Consolidated gone we will miss some of the employees we have befriended, but the management company itself is a huge ripoff and a bunch of crooks.
wow wrote on June 24, 2009 05:50 PM: Ralph and Suckers its pertty plain you are two loosers who could not sell timeshare.Get a life.
An Outsider wrote on June 24, 2009 05:48 PM: I think some of the comments here are a bit dogmatic. I don't know much about Consolidated or their timeshare operation, however, look around you . . . there are companies having problems left and right. Yes, big ones. Wasn't City Center a heartbeat away from BK not too long ago? GM filed. Yes, all big companies, but those companies fed thousands of people for years . . . Consolidated did the same thing - put people to work and I am sure paid many of them well. Their last check may be in jeopardy, but not too much different than anywhere else it's happening.
As far as what they sell, the timeshare industry is as big as it is because there is a desire for the product . . . Most of us who live in Las Vegas live here for one reason - because there are people that come to Vegas for the DESIRE to gamble or see a show. If that desire didn't exist, we wouldn't be here. If gambling went away, most of the jobs in this city would fade away pretty fast.
Don't be so quick to judge.
Dave wrote on June 24, 2009 03:18 PM: Can you say "High Roller Baby"! Ha! Ha! Their commercials were a joke, just like the morons that bought time shares from them!
ralph wrote on June 24, 2009 02:09 PM: Suckers---- I agree with you. But still, taking advantage of weak-minded and illiterate people is immoral in my opinion. These guys know excactly that they are taking advantage of people like that. It's legal and that's cool. But that doesn't make it right. So I'm glad they are getting their just desserts. It's a Karma thing man.
Suckers wrote on June 24, 2009 01:53 PM: The morons who bought timeshares were not taken advantage of. If you go to the store and pay $7.50 for a gallon of milk ,is the store at fault for your idiocy? What did P.T.barnum say about there is a sucker born every day
Suckers wrote on June 24, 2009 01:52 PM: The morons who bought timeshares were not taken advantage of. If you go to the store and pay $7.50 for a gallon of milk ,is the store at fault for your idiocy? What did P.T.barnum say about there is a sucker born every day?
Elaine wrote on June 24, 2009 12:08 PM: Will Consolidated be paying the employees their final check on Friday 6.26.09 and the future checks in July 2009 that employees are expecting for selling the timeshares, Thank you
ralph wrote on June 24, 2009 11:10 AM: Awwwww... Too bad former employee. Your last paycheck isn't going to be honored. Good for you! Now you know what it's like to get porked. Just like you have been making a living doing to people every single day you worked there. I have no pity for you whatsoever.
Not Happy Former Employee wrote on June 24, 2009 11:00 AM: It is really sad that CRI basically locked us out of work on Tuesday. We are worried that our last checks will even be honored. It is funny how the 1,000 or so employees that are now out of jobs dont matter to a company that claimed to be time share done right. I wonder how many people in the Corp office that decided to let all of us go actually got to keep their jobs. I bet I can name a few...What a shame.
Kris wrote on June 24, 2009 10:41 AM: All of the Timeshare Resorts in Vegas are going broke. Recent filings
also include both Marriott and Diamond Resorts as planning bankruptcy.They had their day,now they should leave.Timeshare is a lousy investment and bad for Vegas
ralph wrote on June 24, 2009 09:47 AM: It's about time these criminals went out of business. Timeshare salesmen and their ilk are nothing more than modern day snake oil salesman taking advantage of the weak-minded and uneducated people they lure into their cesspool.
Most people who buy timeshares can't even afford to make the payments after a few months of paying on their 21% interest loans. But hey, they will always cherish the cheap champagne limo ride back to the Excalibur after they got bent over at the "resort", while the smart people go back to the hotel on that overheated bus.
These people are sickening and I hope they all go bankrupt.
Dr J wrote on June 24, 2009 08:56 AM: What will Susan Anton do now?
WOW wrote on June 24, 2009 08:44 AM: What happen to the $11 billion the gov gave Goldman-Sachs?
OH! Really? wrote on June 24, 2009 08:07 AM: They are going bankrupt because of the money markets?
Oh! Really?
Goldman-Sachs paid big money for controlling interest two years ago when things were going great.. It was their intention to package them with another timeshare company and sell the new group off to make money. That’s what Goldman does.
Then, the depression hit.
The previous owner started getting many units back due to foreclosure at Tahiti Village, Tahiti, and, Club de Soleil. He decided to have his henchmen in charge at Tahiti Village start selling his inventory, instead of Goldman’s.
Not a good thing for Goldman.
Since Goldman a written down the value of the business, it was easy to just shut down things since their “trusted” people in charge were ripping them off. Goldman will probably sell off the balance of the resort to a company to finish the sales.
Of course, all the employees will lose thousands in money that was owed them. Goldman will save millions. Yes, it is a very large number.
The people in charge are such wonderful people! They are all walking away wealthy.
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