Yeah I saw that but I’m sure you are smart enough to read between the lines as I am. They lost $5.1 in the 3rd Qtr which should be one of their most profitable along with the 2nd qtr. That annualizes to over $20M operating loss. They are switching agents to an independent contractor model which is a big departure from their model and the one employed by traditional brokerages. The writing is on the wall and they will be chaging things soon enough.
Its analogous to when a company gets sold and they keep the management for a couple a years before dumping them. They have lots of revenue and want to keep that up so they dont want to risk changing the discounting aspect just yet. My guess is the have an investment bank looking for buyers as we speak.
