Although I’m definitely a fan of the online DVD rental service Netflix, they have again disappointed me today. The website offers the option to put your memership “on hold”, which will temporarily stop Netflix from billing and mailing movies to you. On the surface, it looks like Netflix really cares about its customers by offering this extra convenience. From my point of view, however, this is really a selfish policy whose only purpose is to boost the company’s bottom line.
Let’s say you are a Netflix member whose billing date is at the beginning of the month. You are about to go on a two-week vacation, so you place your account on hold today and set the service to resume in two week. You’ve already paid for movies for the two weeks of your vacation, but, by placing your account hold, have elected to stop their delivery. In order to actually give you what you’ve already paid for, Netflix should move your billing date two weeks ahead to make up for the time that you will not be receiving movies. Netflix doesn’t do this. Unless your billing date is during your vacation, you gain nothing. The worst part is that you actually increase your risk of financial liabilities for the zero benefit you receive: Your account will be charged $20 per disc for any movies that aren’t received by Netflix within seven days of placing your account on hold. So basically, if you try to be an organized person and place you account on hold but then forget to mail those three discs back before you go on vacation, you’ve just given Netflix $60 for absolutely nothing.
I telephoned Netflix customer service to verify I correctly understood the account hold policy, which I did. Confronted with this information, the representative couldn’t tell me why I would want to place my account on hold.
Poor CashAmerica. Let’s feel sorry for them:
Dear Military Personnel,
Beginning October 1, 2007, we will no longer be able to serve military personnel or their spouses and dependents who seek short-term loans, commmonly referred to as payday loans. The Department of Defence Military Lending Act, which takes effect that day, requires such loans to be granted at 36% APR. We regret that our Company simply cannot offer a product at that rate restriction.
At a 36% APR, the total fee charged on a $100, two-week advance would be $1.38. We cannot cover the cost of originating a loan, let alone meet employee payroll and benefits and other fixed business expenses, at this rate.
When they can make loans to other customers at over 1140%, it’s no wonder they are refusing a paltry 36%. It’s just not profitable.
Seriously, though. Stay away from payday loans, kids.
Wal-Mart has decided to move the date of Black Friday, just like the government decided to move the date of Daylight Saving Time. Apparently I need to get a more important job so that I, too, can play with the calendar.
Wal-Mart has announced it will have its Black Friday “day after Thanksgiving” sales this Friday, November 2. A company press release issued on Halloween, October 31, 2007, at 6:55 AM MDT begins:
The nation’s largest retailer officially kicks off the Christmas season today by granting a valuable holiday wish to its customers — savings on the gifts they want to give.
Today? Look everybody, Halloween is the official start of the Christmas season now! The press release continues:
In-store, the experience for Wal-Mart shoppers will be fittingly festive. Christmas Shops offering holiday decor and gifts and onsite product demonstrations open this weekend. And, for the first time ever, Santa will visit all Wal-Mart Supercenters and discount stores. [...] The retailer will also literally wrap several stores across the nation in festive holiday style including 10 x 3.5 -foot bows to brighten the buildings.
Uhm, what? My Black Friday “day after Thanksgiving” “three days after Halloween” sales come with a Christmas shopping experience? A Santa line at Wal-Mart? Wrapping entire buildings with wrapping paper look-alike?
The sales were announced early Thursday morning (it is already Thursday in EDT) and are now online at http://www.walmart.com/secret. While I’m always up for a sale, I don’t really want to be shopping in a Christmas “experience” two months before the holiday.