Mission Recruitment: Pre-Paid Legal Service Chairman Marches into San Diego
Southern California Remains a PPD Growth Market
There will be a PPD business briefing from 10:00 - 11:00 a.m. (PST) and an associate training from 11:30 a.m. to 3:00 p.m. Chairman Stonecipher will address the PPD independent associates at 10:30 a.m. Guests attending the "Super Saturday" event are admitted for free.
"We're committed to making 2011 the best year yet for Pre-Paid Legal Services and southern California is certainly a major component in our overall growth strategy," Stonecipher said. "To expand our market penetration, we will emphasize recruitment of motivated independent associates, the key to expanding this market share," he said.
The southern California "recruitment mission" follows another recent PPD recruitment initiative, the January 1 premiere of "Pre-Paid Legal Services, Inc.: A Business for Today," on Fox Business News.
"With an unemployment rate of 12.4 percent in November 2010, compared to 9.8 percent for the U.S. as a whole, it's clear there are people in California who need an opportunity for financial independence,"
According to the California Employment Development Department, there were more than 2.2 million unemployed workers in the state in November 2010.
"Some of these displaced workers may be interested in what Pre-Paid Legal Services has to offer," Stonecipher said.
The southern California event is being hosted by Regional Vice President Mark Smith of Mission Viejo, California. Smith and his wife, Tammy, were the recipients of the 2010 Chairman's Award, the prestigious annual award that recognizes top leadership among thousands of independent PPD associates.
"Chairman Stonecipher's January 8 appearance is generating great enthusiasm among the thousands of associates in markets throughout the region, and especially in the San Diego market under the leadership of Regional Manager Todd Cahill," Smith said.
There are an estimated 400,000 independent associates who market PPD legal service plans throughout the U.S. and four provinces of Canada and the company has an estimated 1.5 million members (customers).
About PPD -- We believe our products are one of a kind, life events legal service plans. Our plans provide for legal service benefits provided through a network of independent law firms across the U.S. and Canada, and include unlimited attorney consultation, will preparation, traffic violation defense, automobile-related criminal charges defense, letter writing, document preparation and review and a general trial defense benefit. We have an identity theft restoration product we think is also one of a kind due to the combination of our identity theft restoration partner and our provider law firms. More information about us and our products can be found at our homepage at http://www.prepaidlegal.com.
Forward-Looking Statements -- Statements in this press release, other than purely historical information, regarding our future plans and objectives and expected operating results, dividends and share repurchases and statements of the assumptions underlying such statements, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained herein are based on certain assumptions that may not be correct. They are subject to risks and uncertainties incident to our business that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described in the reports and statements filed by us with the Securities and Exchange Commission, including (among others) those listed in our Form 10-K, Form 10-Q and Form 8-K, and include the risks that our membership persistency or renewal rates may decline, that we may not be able to continue to grow our memberships and earnings, that we are dependent on the continued active participation of our principal executive officer, that pending or future litigation may have a material adverse effect on us if resolved unfavorably to us, that we may have compromises of our information security, that consumer purchases of discretionary items may be impacted by a downturn in the economy, that we could be adversely affected by regulatory developments, that competition could adversely affect us, that we are substantially dependent on our marketing force, that our stock price may be affected by short sellers, that we have been unable to increase our employee group membership sales, that our active premium in force is not indicative of future revenue as a result of changes in active memberships from cancellations and additional membership sales and that we have repurchased more than half of our outstanding shares. Please refer to pages 16 through 19 of our 2009 Form 10-K and pages 7 and 8 of our September 30, 2010 Form 10-Q for a more complete description of these risks. We undertake no duty to update any of the forward-looking statements in this release.
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Pre-Paid Legal Services was one of the first companies in the United States organized solely to design, underwrite and market legal service plans. PPD provides legal service plans to more than 1.5 million families across the U.S. and Canada.