August 25, 2005

Bizzy’s Biz Links of the Evening (082505)

Filed under: Business Moves,Consumer Outrage,Privacy/ID Theft — Tom @ 9:14 pm

Three things I caught in the business news today and why they’re significant:

  • General Motors Continues Employee Pricing–The fact that employee pricing has stayed in place for so long is obviously due to poor sales using the traditional pricing model at GM and Ford. The longer employee pricing stays in place for everyone, the higher the likelihood that the companies will abandon the “haggling with the dealers” selling model that infuriates so many buyers. I personally hope so.
  • Jeff at Credit/Debt Recovery, in the course of discussing subscriber difficulties in cancelling AOL’s service (they seem not to be able to find the “off” button for automatic hits to checking accounts and credit cards), makes a point: “Credit protection plans are completely worthless, despite anything your credit card company tells you. There is no reason to sign up for credit protection plans. Don’t do it. Ever. If you have one, call and cancel now. Do it now!” Hear, hear. Although I suppose at some point someone might structure one of these plans to where they make sense, the current expensive plans that are out there are potential multimillion-dollar revenue hogs that merely take advantage of paranoid consumers and provide little value. Besides, if the credit bureaus and data warehouses do what they should do or (more likely) get forced to do what they should be doing on their own through legislation, consumers will be able to freeze their credit and once-vulnerable data will be routinely encrypted (Solution 1 at the link).
  • Tom Yager at Infoworld has a cautionary tale for those who automatically assume that your card company, even Amercan Express, will remove a bogus charge that appears on your credit card statement. Apparently even a pretty quick response won’t guarantee a favorable resolution.

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