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AN INVESTIGATIVE NEWS SERIES ON THE STANDARDS AND PRACTICES OF THE BETTER BUSINESS BUREAU START WITH TRUTH |
| V 1.4 Feb 2010 | ||
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ME THE MONEY - LATEST BBB FINANCIALS BY BRANCH |
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| The most recent Better Business Bureau
financials show that the branch with the most revenues, the most
revenues from member dues, the most profit and the most business
members is the Los Angeles branch of the Better Business Bureau. The combined revenues for all branches of the Better Business Bureau brought in nearly $156 million in renenues in 2008, of which more than $134 million came through member dues from the almost 375,000 accredited businesses who have joined the BBB, The annual revenues of the Los Angeles Better Business Bureau for 2007 were $9.1 million of which $7.4 million came from member dues (from over 24,000 members). After salaries and other expenses, the Los Angeles Better Business Bureau banked just under $1.6 million in financial gains for the year....not bad for a not-for-profit entity. More of interest, while the Los Angeles Better Business Bureau accounted for only 5.87% of total branch revenues they accounted for 32% of all branch financial gains for the year. For a complete spreadsheet with the financials for all 111 Better Business Bureau branches for fiscal 2008, click here. |
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| Editor's note: Neither I or this website have a problem with the Better Business Bureau. Indeed, there is a need for a consumer advocacy group that the public can turn to, and in most cases, the Better Business Bureau fulfills this role adequately. What we do have a problem with is the BBB's "A-F" grading system. It is demonstratively biased, based on hearsay, weighted in favor of dues paying members and offers no recourse when the BBB makes an error. It is obvious the Better Business Bureau does not now, nor ever will have, the resources to fully investigate the four million businesses in their database, much less grade them with any sense of accuracy. It's an impossible job, and to think otherwise is a mistake that the BBB should acknowledge so they can get back to their reason for existence--protecting the consumer. There's an old saying, "who will watch the watchers" and it applies here as the BBB has set themselves up to be above the law. We are simply here to help the Better Business Bureau do a better job so that they may properly serve the consumer, the business community and themselves. | |
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