Has Too Much Cash

from the if-only-we-all-had-these-problems dept

One thing you don’t often see these days is complaints from dot coms that they have too much cash, but that’s exactly what is claiming. They have $213 million in cash, a valuation of $137 million, and they’re only burning about $2 million a month. They’re trying to figure out what to do with all that cash, and they might end up giving it to shareholders. Maybe they should throw a big party. There haven’t been any hugely wasteful dot com parties in a long time.

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Comments on “ Has Too Much Cash”

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Cheryl (user link) says: extra cash source

They have extra cash because all the postage labels printed in error are not being filed for refunds. In order to get a certain class of postage refunded you have to mail in the labels printed in error, along with a refund form and activity report.
I used for the first time 12/17/05 to print about $32 in postage, but had a lot of printing label errors I had to put $95 into my account to make up for $50+ errors in labels that I printed. They have the extra income because they have many users unrefunded unused postage. The postage I used was only $32.00. They get to keep the refunds for 4-6 weeks, that is if they get the correct paperwork. This may not sound like a very good reason for having all that extra income but I think it should be considered, there is no easy way to get refunds from

burnmeup says: and too much cash had better hang on to all that cash they have because they are going to need it. Their customer service is non-existent and they are hoodwinking folks in to subscribing by offering all kinds of free stuff. Unfortunately , they are not disclosing the true cost of their service. Also, they are offering an unnecessary service that can be had from the post office at no charge! People are complaining, myself included, that they refuse to cancel accounts when duely notified and continue to charge even after their service has been terminated. Maybe they should put some of that cash back into the accounts of those folks. It’s easy to amass wealth when you hoodwink a bunch of folks and then refuse to refund wrongful cahrges. I would recommend that they just split the money among the remaining employees and tell them to look for another job. Surely, this company, like many other’s will be a flash in the pan.

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