To: tahoeman who wrote (421 ) 2/27/1999 9:54:00 PM From: tahoeman Read Replies (1) | Respond to of 2406
Interesting message posted on the PCBM Raging Bull Thread. New ATI acquisition adds maybe more value to PCBM than many realize....ragingbull.com Looking for competition and finding it hard to believe that nobody has picked up on the cash/check end of e-commerce. None the less, I COULDN'T FIND ANYONE! THIS IS GOOD!!!!!!! The tendency of financial institutions to kick a man when he's down is IMHO what has up until now made the cash/check side of e-commerce something that nobody seemed to be interested in. So here comes Pinnacle, a company that lives and breaths in the secondary loan sector with an idea that will allow the less than credit worthy to participate in e-commerce. Everybody wins!!!! To survive and thrive in the secondary market you have to be VERY non-judgemental and very patient. These people have problems that most people look at and say, "Well sell your car to pay your bills!", "Work 3 jobs and sleep 8 hours a week! I did it!" (yea sure you did!), "Sell your computer, sell your car, sell your stuff you don't need you deadbeat!" Having been in a bad finacial situation personally I can say that these people all live in a dream world and have never had unexpected and devestating financial problems but I can say with 100% certainty that I wish it on every one of them for just a short time so they too can see how idiotic their statements sound to a person in such condition. Sell the car. Sure then how the hell do I get to work? How do I buy another one? Nobody will loan me the money!? Sell the computer, sell the guns, sell the few toys, sell the stereo..... YEA RIGHT! For 1/10 of what you paid and then what do you do when you have nothing left to sell and the bills are still not paid? Pinnacle and companies like them are the answer for many of these people. Pinnacles CASH/CHECK e-commerce services will be the answer to letting them take advantage of e-commerce. Literally millions of Americans do not qualify for credit cards of any type and millions more can't get checking accounts because many banks are now doing credit checks before opening checking accounts. Millions of people run on cash in our credit dependent economy and until you have done it you have no idea how difficult it is or how creative you can get with limited cash and a chacking account at a bank that uses the Fed to clear rather than a local or regional clearinghouse (takes longer to clear using the Fed system). Unless you are rich you are poor in todays economy without credit. You are excluded from renting a car, buying over the phone, e-commerce, in some places you are excluded from making hotel reservations and many other thing. The market is huge for the services that Pinnacle wants to offer! It reaches far beyond e-commerce.