TheLegacy
11-13-2003, 11:42 AM
In case you missed the article - psw has come out with a statement regarding what has happened - they seem to be not over-reactiing and doing it by the book so that they will stay afloat and not go under.
Still supports my theory that we eat our own wounded
http://www.avnonline.com/issues/200..._111203_8.shtml
Some interesting notes::
Lombardi said PSW's attorneys have blocked them for giving "vast detail" on legal proceedings involving the company and Visa/Mastercard and, in a separate case, two Internet companies and a major bank. But he did say lines of communication are established and PSW is pleased so far with the progress.
Lombardi acknowledged, however, that many company staffers - including himself - are working without drawing salaries, "and all but mission-critical spending has been cut.
PSW is negotiating with Visa and MasterCard over what PSW in September called "friendly fraud," meaning customers claiming never to have made the transaction in the first place but the credit companies still charging $100 chargeback fees on such transactions, which PSW called "unfair and unjustified." PSW is also in litigation against E-Commerce Billing and Processing, Fenlight Properties, and Leumi Bank over breach-of-contract and unfair trade practices, including charges they began unfounded rumors that PSW was going out of business in midsummer over a broken credit processing deal.
Still supports my theory that we eat our own wounded
http://www.avnonline.com/issues/200..._111203_8.shtml
Some interesting notes::
Lombardi said PSW's attorneys have blocked them for giving "vast detail" on legal proceedings involving the company and Visa/Mastercard and, in a separate case, two Internet companies and a major bank. But he did say lines of communication are established and PSW is pleased so far with the progress.
Lombardi acknowledged, however, that many company staffers - including himself - are working without drawing salaries, "and all but mission-critical spending has been cut.
PSW is negotiating with Visa and MasterCard over what PSW in September called "friendly fraud," meaning customers claiming never to have made the transaction in the first place but the credit companies still charging $100 chargeback fees on such transactions, which PSW called "unfair and unjustified." PSW is also in litigation against E-Commerce Billing and Processing, Fenlight Properties, and Leumi Bank over breach-of-contract and unfair trade practices, including charges they began unfounded rumors that PSW was going out of business in midsummer over a broken credit processing deal.