Archive for Online Business
Consumer complaints about Cash4Gold
Posted by: | CommentsFor “money” Monday, let’s look at that Cash4Gold Company you’ve seen on television. They claim you can make extra money with your spare gold, but many consumers are complaining it simply isn’t true.
According to a number of people who’ve contacted the consumer-focused website CONSUMERAFFAIRS.COM, Cash4Gold makes a big promise it doesn’t keep.
Cash4Gold bills itself as the “world’s #1 gold buyer.” The company claims it’ll pay top dollar if you send them your old gold to be melted down. But according to the complaints, the company pays far less than what customers think their gold is really worth.
Is there any merit to that charge? A study conducted by another consumer-oriented website, CONSUMERIST.COM found that Cash4Gold offered as little as 11% of the value of gold necklaces that were submitted for appraisal. Consumerist.com (which is owned by Consumers Union– the same organization that owns Consumer Reports) says Cash4Gold has not responded to this study, but Cash4Gold has filed a lawsuit against Consumerist.com for defamation.
Consumeraffairs.com says it’s received a steady stream of complaints from people who say Cash4Gold refused to pay them the full worth of their goods or that the company claimed to have never received their goods at all.
The lawsuit Cash4Gold has filed is also against two of its former workers. The ex-employees are accused of defamation and disclosing confidential information about the company in public statements and through postings on consumer-complaint websites.
Beware Special Offers
A company advertises a “special offer” or a “free trial” of its product or service, such as a fitness club membership, a weight loss product, a credit card protection plan, and more. The offer may come to the consumer, by mail, telephone, or e-mail.
To participate and receive the trial offer, the consumer agrees to make a small purchase or pay just the shipping cost for the product. The consumer must supply his or her bank account information, and the company uses this information to do a “demand draft” on the account.
Multiple Withdrawals
However, many people are surprised to find that what they thought was a one-time purchase turns out to be monthly withdrawals by the company. The consumers either didn’t agree to this, or they signed up for such a payment agreement without having read the fine print. This is especially true of online purchases, where it’s all too easy to click on the “I accept” button without reading all the boring legalese about “terms and conditions” of that special/trial offer.
Sometimes the agreement allows for a cancellation by the customer, but it often has to be done within a rather short time, such as 14 days after the agreement was made (which is too short to catch, since the bank demand drafts don’t occur that soon).
Difficult to Stop
Many consumers have told the AG that it’s been impossible to get the company to stop taking the payments from their accounts, and that it’s impossible to reach a human being at the company to complain to. Others have noted that even when they send written notice that they are canceling the offer, the demand drafts keep being performed. Legal help is often necessary.
The Nevada AG’s office advises consumers to not provide their financial information to Bureau of Consumer Protection and the Nevada Consumer Affairs Division should review it with a high amount of skepticism. What looks like a one-time purchase for a small amount can turn out to be a recurring charge.
USOC surprised at IOC’s complaints about network
Posted by: | Commentshe U.S. Olympic Committee’s venture into the TV business is irritating some international Olympic leaders — not exactly the reaction the Americans were expecting when they decided to create a network solely devoted to promoting the movement.
“We firmly believe that what we’re doing with this network is in the best interest of the Olympic movement,” Bellingham said. “This is something that’s going to deliver great value to them. It speaks to the ideals of the movement. There’s nothing out there that does that on a year-round basis.”
At least one IOC member agreed. Dick Pound of Canada, the former lead negotiator for American TV rights, said his country has also been looking to bring a 24-7 network to air.
“I can’t imagine that would be any concern for the IOC other than to say, `Hey, this is great,’” Pound said. “It’s more exposure for the Olympic movement. Looking at it in utilitarian terms, it will probably enhance the value of the Olympic rights.”
NBC spokesman Brian Walker said network executives were traveling and not available for comment.
The network intends to bid for the 2014 and 2016 Games. Because of the shaky economy, the bidding has been delayed until after the 2016 Games are awarded in October.
Though Olympic trials would likely be the most lucrative of events the USOC network could air, Ueberroth insisted there’s another mission, which is to expose younger people to sports that are out of the mainstream, and in turn help create healthier lifestyles and keep the Olympic pipeline flowing.
All noble gestures, though in the end, it figures programming, timing and finances will make or break the network.
Many Olympic leaders were growing impatient as the process to bring the network online dragged out over nearly three years.
Some wondered if there was any way to make it profitable.
Others, including some at the IOC, wondered how it would affect the relationship with NBC.
Still others wondered where the viewers are going to come from. Most Olympic sports have extremely dedicated — but extremely small — fan bases.
None of those questions have been answered yet, nor are there any specific answers on how many people the network will reach.
The USOC partnered with Comcast, which will carry the channel on its basic digital tiers, with hopes to expand to other cable partners in the future. That should reach at least 10 million homes to start.
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Added: January 16, 2009