University Daily Kansan / Thursday, September 4, 1986
7
Book club offers money to members
By SHANE A. HILLS
Staff writer
A leaflet circulating at the University of Kansas says across the top in bold face: $ STUDENTS $ MAKE BIG MONEY READING YOUR WAY THU! COLLEGE "
The leaflet explains how a new book club, Medallion Books Inc., could net each of its members $12 million in profits.
The company publishes both adventure and romance novels
Tracy Thompson, Woodbridge, Va.
sophomore, distributed 450 one-page leaflets for her father, Jon Thompson, a U.S. Army Major.
Jon Thompson, who wrote the leaflet, is trying to recruit members for the book club, which is based in Los Angeles
The leaflet says that members do not have to invest any money, keep any records or carry any inventories to be eligible for potentially enormous profits.
"Normally somebody is getting the short end of the stick on something that sounds too good to be true." Jon Thompson said recently from his office in Washington.
"But I'm an avid reader and I was interested when a friend from California sent me the information on Medallion Books," he said.
Tracy Thompson gives a pamphlet to people who inquire about the club. The pamphlet says
Medalion allts 32 percent of each book sale to profits for the members.
Members must purchase $60 a year from Medallion Books. They may sign up as many new members as they can. Then, they will receive 8 percent of the money from new members' purchases. The first new members enrolled are called first-level members.
Then first-level members can sign up new members, called second-level members. This process continues to five levels.
If a member enrolls 10 new members, and each of those new members enrolls five more members, the original member will then have 50 second-level members.
If this process continues, the fifth level would compose 6,250 members.
In the preceding scenario, with each member making his required purchase of $60 a year, the originator of the first level could make $28,128 in one year, the pamphlet may
According to the pamphlet, the scenario can be refigured with the originator and each member of each level signing up 20 members. The total dollar intake then reaches over $12 million.
The book company's method is called multi-level marketing. Companies such as Herbalife (dieting aids) and Amway (household products) operate in a similar manner, said Jon
Bruce J. Peters, vice president of operations for Medallion Books Inc., said yesterday that 300 to 400 applications come to the Medallion office each day. He designed the computer system to figure the distribution of commission money among its members.
Thompson.
He said a member really had no way to keep track of how much the members of the various levels purchased each quarter. Therefore, the member must trust Medallion Books to keep an accurate account, Peters said.
Peters said Medallion Books Inc. was started in July by a group of Canadian venture capitalists who put up $5.8 million.
"The key to it is going to be the authors," Jon Thompson said. "An author wants to be read and rewarded for his performance. Eventually, because Medallion has eliminated the middlemen (bookstores), it can pay higher dollars to the authors than the other publishers."
The company publishes the books it sells, and hopes eventually to attract established authors, he said. Meanwhile, it is planning a publicity campaign this fall.
As for profits, Jon Thompson said, "I don't plan on becoming a millionaire overnight."
Jon Thompson said he had received fewer than 100 responses to his leaflets. Tracy Thompson said she had had only a few inquiries.
On Campus
**Robert Bearse, professor of physics, will lecture at 12:30 p.m. today in 6031 Waurorth Hall. His topic will be "University Compliance Activities Related to Science Endeavors, or How I Learned to Stop Worrying and Love Bio-hazards."**
The KU Soccer Club will practice at 5:30 p.m. today at the soccer fields at 23rd and Iowa streets.
The KU Amateur Radio Club will have its first meeting at 6:15 p.m. today in 2029 Learned Hall.
**Recreational Services will sponsor an aqua-aerobics demonstration at 6:30 p.m. today at the pools in Robinson Center.**
The School of Education Student Organization will have its first meeting at 7 p.m. today in 303 Bailey Hall.
The KU chapter of the National Organization for Women will have an organizational meeting at 7:30 p.m. today in the Governor's Room in the Kansas Union.
On the Record
■ Four Japanese dolls, silverware and robes, valued together at $14,000, were taken at about 12:30 a.m. Monday from a business in the 1000 block of New Jersey Street.
A car radio and a scanner, valued together at $455, were taken between 8:30 and 9:30 p.m. Tuesday from a car parked in the 1200 block of Crestline Drive.
A stethoscope, valued at $500,
was taken between Aug. 1 and Sept. 1,
from a business in the 400 block of
Rockledge Road.
A newspaper dispensing machine, valued at $650, was taken Monday from the front of a business in the 1900 block of West 23rd Street.
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