Vistra Energy Purchasing Ambit Energy
Here are my thoughts and my take on the recent news regarding Vistra Energy Purchasing Ambit Energy.
Many of you have called and reached out to me with a lot of questions regarding the recent news of Vistra Energy Purchasing Ambit Energy. Many of you know that several of us, myself included, have experienced this type of thing before with other companies we were involved with where the story did not end so well for its distributor base. Therefore, I definitely understand all of the emotions at play here.
Those of you that personally know me also know that I am not one to sugar coat things, nor put a positive spin on a bad situation just to make you feel better, and I will give it to you straight. With that being said, I feel the easiest way to share my thoughts and my personal opinion on the acquisition of Ambit Energy by Vistra Energy is by sharing it here.
The News Leak
When the news first came out regarding Ambit Energy being sold, I have to say I was not excited nor was I surprised. In fact, I had been hearing rumors of this back in June before Vistra Energy was ever mentioned.
Is Vistra Energy Purchasing Ambit Energy A Good Thing?
So, the magic question is…Is Vistra Energy purchasing Ambit Energy a good thing? We all know that when news like this hits with any direct selling company, there will always be those that go out and spin the bad into the good and vice versa depending on which side of the aisle you are on. That is why I want to give you my “No Spin Zone” answer.
The real straight forward answer, if we're being honest here, is… Only time will tell.
If you want my honest and humble opinion right now, my answer is… YES! I DO BELIEVE THIS IS A VERY GOOD THING!
Now pay close attention to what I'm about to say. Here is why this is not just some spin to make you feel better about things. After doing some research and getting my hands on some actual facts, I believe this could actually be a Godsend. In fact, I see this as a much-needed move that came at a good time. This could be one of the best things to ever happen to Ambit Energy in my opinion and could usher in a wave of momentum and growth that hasn't been seen in a long time.
Why do I say this?
There are several reasons why I'm excited about this news, but I will touch on some actual facts.
- Jere Thompson, Jr.
- First and foremost, I believe in Jere Thompson, Jr. When I saw the Ambit presentation for the first time on July 10, 2007, I met Jere Thompson, Jr. for the first time. I have believed in Jere from day one, and I continue to believe in his leadership, ethics, and character to this day because he has not given me a reason not to. I personally believe he is one of the nicest, most sincere, and sharpest businessmen I've ever met in my life. I personally think he truly cares about the consultant, knows what is at stake here, and has our best interest at heart. I believe, without a shadow of a doubt, that Jere made this decision to protect each of our businesses for the long term and put us in the best possible position for long term growth and profitability.
- The retail market, when it comes to energy, has changed. We have seen this over the last few years with numerous companies and not just Ambit. Vistra Energy is uniquely positioned to take full advantage of this and even handle the current turbulence as a “gen-tailer.” You can hear a recording of the EC Conference call with Jere Thompson and Chris Chambless to get a better understanding of what a gen-tailer is and why I think this is important. You can listen by clicking on the link below :
- Vistra Energy
- After getting on the EC Conference call with Jere and Chris, I looked for some very important information and facts regarding Vistra Energy. After all, I've heard all of the pie in the sky spin a couple of times before when it comes to change like this. With that being said, I must say the more I found out about Vistra Energy the more excited I became. I've listened to a couple of top executives with Vistra Energy share their thoughts regarding the acquisition of Ambit Energy. One never really knows the sincerity of the words coming from the brass of the acquiring company. After all, we've never met them and had the chance to look into their eyes to see if they mean what they say. What I was happy to find was a video from over a year ago that lines up exactly with what they are saying now. I can definitely see why Ambit Energy is attractive to them, and more importantly why our marketing arm (the consultants or marketing channel) excites them. Bottom line…we get LOYAL customers at low acquisition costs.
- You can and should watch the video interview by Jim Cramer (Host of Mad Money on CNBC) with the CEO of Vistra Energy, Curt Morgan. In my opinion, it sheds some serious light on Vistra Energy, their business model, capabilities, values, and interest in Ambit Energy when it comes to the retail marketplace. Keep in mind this interview was approximately a year ago.
It is my understanding that it will take approximately 60 days for the deal to go through regulatory approval and get finalized. We will know more once the ink dries and the deal is done, but I personally believe this could be an awesome opportunity for us all. With that being said, I personally believe we will know within six months of the deal being finalized if the powers that be mean what they say and say what they mean. In the meantime, I highly recommend you get to Ambition 2019. Meet the executives of Vistra Energy. Shake their hands, look into their eyes, ask some great questions, and form your own opinions. I will be there to do this very thing, and I look forward to seeing you there as well.
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