Everything Attachments - Bankrupt?

[fried1765]

'best' is a very subjective term, and really none are 'best'.
You need to layout the 'rules' of the comparisons, then so a blind test.

Reminds me of the TV show where the somalia(sp..wine expert), swapped wines. Put $200 wine in $5 bottle, $5 wine in $200 bottle ( used wine 'thief' ) so no one KNEW they'd be switched.
ALL of the experts agreed the $200 bottle of wine was far superior. Man was there 'egg on their faces' when the truth came out !!!!
I've got a 70 year old 3 furrow, 14" plow with smooth coulters. Is it the 'best'. Don't know. I assume 'they' have made a few improvements in 3/4 of a century BUT what I do KNOW is that it performs very,very well, exceeds MY needs. Yes, it's rusty and dusty, ain't 'purdy' but for $50, 25 years ago is the 'best' for me.

Me thinks you are not very busy this day.
Trying to split theoretical hairs!

 

[DustyRusty]

I'm not sure that the credit card companies are still doing business with EA after having been burned. Maybe the Ted lovers on this site will underwrite the risk of someone's purchase.

One thing that a credit card merchant bank might do is to process the charge and then hold the money in escrow until the buyer acknowledges delivery of the tool. Until that release, both the buyer and seller are protected. PayPal has operated like that from the beginning right up to this day for new accounts that don't have a track record or post some financial banking account information showing their reputation as being legitimate.

 

[TheOldHokie]

One thing that a credit card merchant bank might do is to process the charge and then hold the money in escrow until the buyer acknowledges delivery of the tool. Until that release, both the buyer and seller are protected. PayPal has operated like that from the beginning right up to this day for new accounts that don't have a track record or post some financial banking account information showing their reputation as being legitimate.

Say what? I have a Paypal business account and AFAIK Paypal has never escrowed any of my sales, asked me for any financial info, or asked a customer to confirm receipt of a purchase..

Dan

 

[DustyRusty]

Say what? I havecaxPaypal business accountvsnd AFAIK Paypal has never escrowed any of my sales, asked me for any financial info, or asked a customer to confirm delivery.

Dan

You must have given them your business information along with a bank account when you opened the account, so they were able to do a credit check and know that you are reputable. Please read my original post and pay particular attention to the following words in my original post.

PayPal has operated like that from the beginning right up to this day for new accounts that don't have a track record or post some financial banking account information showing their reputation as being legitimate.

If they allowed every new account to withdraw the money without any restrictions, then people would be opening new accounts, and as fast as the money came in, they would be withdrawing it and the buyers wouldn't have any recourse. Scammers try every way that they can think of to take money from honest people that are trusting.

 

[TheOldHokie]

You must have given them your business information along with a bank account when you opened the account, so they were able to do a credit check and know that you are reputable. Please read my original post and pay particular attention to the following words in my original post.



If they allowed every new account 8to withdraw the money without any restrictions, then people would be opening new accounts, and as fast as the money came in, they would be withdrawing it and the buyers wouldn't have any recourse. Scammers try every way that they can think of to take money from honest people that are trusting.

How do you withdraw money from a Paypal account? You transfer it to your bank account. In my case a personal checking account. Zero business information needed - just my name and account number.

Scammers have bank accounts too. They use them to withdraw the money and then quickly disappear only to reappear with a different name and bank account. If they fool the bank they fool Paypal

Buyer complaints are what alerts Paypal to scammers. When that happens the Paypal account is immediatly frozen and Paypal is on the hook for the undelivered merchandise. They cover those losses with the vigorish collected on the bogus sales augmented with vigorish from other legit sales.

Thats why using Paypal for purchases is safer than mailing some stranger a check.

Dan

 

[DustyRusty]

Don't know if you have opened a bank account recently, however, the banks now require social security numbers, and if they don't already have a relationship with you, they take all your information, and let you know a day later if they are going to open the account or not. Quite difficult to scam a bank into opening an account, unlike years ago they would open an account when you walked into the bank.
PayPal doesn't get fooled very often. They have a very sophisticated vetting method when you open an account. When I opened my PayPal account 25 years ago, I couldn't draw the money out the same day it was deposited, because they had a 14-day hold on it.

From the PayPal website:

Why do I have to wait 21 days for my PayPal money?

We require you to confirm your identity, and we monitor your performance as a seller. As you begin your selling journey, or start selling after a while, we hold the initial payments you receive for up to 21 days. This is a common industry practice to cover any potential buyer complaints that may happen in that time.

 

[TheOldHokie]

Don't know if you have opened a bank account recently, however, the banks now require social security numbers, and if they don't already have a relationship with you, they take all your information, and let you know a day later if they are going to open the account or not. Quite difficult to scam a bank into opening an account, unlike years ago they would open an account when you walked into the bank.
PayPal doesn't get fooled very often. They have a very sophisticated vetting method when you open an account. When I opened my PayPal account 25 years ago, I couldn't draw the money out the same day it was deposited, because they had a 14-day hold on it.

From the PayPal website:

Exactly. Its hard to fool a bank which is why its hard to scam Paypal.

If there was ever a hold on my funds it was transparent to me. I have definitly used my balance to make purchases the same day a psyment was received.

Dan

 

[The Evil Twin]

Well, looks like Ted should have kept that $5m home a little longer. Real estate around his old lake house is booming.

Exclusive | This area in North Carolina, home to America’s fastest-growing suburb thanks to affordability, is also seeing skyrocketing luxury sales

While wealthy home buyers are targeting global hotspots like Dubai and New York, they’re also boosting high-dollar home sales around Lake Norman.

nypost.com

 

[Colb56]

That’s the shame if this. I know there are other manufacturers out there but he had a really good following but blew it big time.
Makes you wonder what a guy like Ted is doing now a days. Never did understand when a guy like him does what they say he did …. How does he make a living.
With the internet it’s easy for an employer to check on you. Once they see what he supposedly did, he may get a job at a gas station.

 

[TheOldHokie]

That’s the shame if this. I know there are other manufacturers out there but he had a really good following but blew it big time.
Makes you wonder what a guy like Ted is doing now a days. Never did understand when a guy like him does what they say he did …. How does he make a living.
With the internet it’s easy for an employer to check on you. Once they see what he supposedly did, he may get a job at a gas station.

Why did Bankman-Fried and Madoff jump the tracks? Greed and I think in SBF's case ignorance. I see a strong resemblance between SBF and Ted but with several orders of magnitude difference in the dollar amounts.

Dan

 

[Yotekiller]

That’s the shame if this. I know there are other manufacturers out there but he had a really good following but blew it big time.
Makes you wonder what a guy like Ted is doing now a days. Never did understand when a guy like him does what they say he did …. How does he make a living.
With the internet it’s easy for an employer to check on you. Once they see what he supposedly did, he may get a job at a gas station.

Ted is back in business and pumping out attachments just like the old days. Why on earth anyone would support or trust him now is beyond me. But they're buying from him again....

 

[TheOldHokie]

Ted is back in business and pumping out attachments just like the old days. Why on earth anyone would support or trust him now is beyond me. But they're buying from him again....

Is he offering COD terms?

Dan

 

[Yotekiller]

Is he offering COD terms?

Dan

From what I understand, no payment until item is ready to ship.

 

[Bmyers]

From what I understand, no payment until item is ready to ship.

Now, that is move in the right direction.

 

[GreensvilleJay]

agree ,he's a bit better BUT if he can't deliver the product in a reasonable time ,business can't survive
so... what's the time between ordering and actual 'ready to ship', for say 'grapples' ??

 

[rc51stierhoff]

Has there been any final result / closure of the court case(s)?

 

[GreensvilleJay]

I suspect the court is giving him time to try to dig himself out of the hole he created.
Someone may find the actual case ruling ?

 

[Heehaw]

Main thing is making things right with the customers who were never refunded the money they paid for products that weren’t delivered.

 

[Kennyd4110]

Main thing is making things right with the customers who were never refunded the money they paid for products that weren’t delivered.

AND the Credit Card companies! ALL of their customers had to help fund the refunds to the customers.

 

[jaxs]

Ted is back in business and pumping out attachments just like the old days. Why on earth anyone would support or trust him now is beyond me. But they're buying from him again....

I haven't followed the case but I've seen companies declare bankruptcy,leave customers , suppliers and banks holding the bag and back in business within 90 days. Is EA business name the same or is there a variation from originally?

Contractors around here go belly up leaving jobs unfinished or even started then a week later they are wearing bigger hats and driving newer trucks than before they went bankrupt. To rub salt in wounds,sub-contractors and material suppliers file liens against property forcing owners to pay again for what they already paid contractor for.
Google I-30 condo fraudster D L "Danny" Faulkner to see a multi-million dollar example. Beyond people and businesses that got publicity, contractors lost trucks,trailer loads of material and tools that were on site when Federal Authorities padlocked them and posted signs that everything on site belongs to government and protected by FBI.