I heard of this one from a talk by a proud startup owner, but I'm sure it's one of the oldest tricks in the book.
In an auction of non-unique items, keep track of the losing bidders, and offer to them, in private, lower price for the same good they bid for, at the price they offered to buy at during the auction. This increases the volume of sales but optimizes the price.
Without knowledge of it, all participants in the auctions are at loss.
Ohh... BTW, the startup, making millions, actually does this automatically while the owner sits there and watch his eBay store earn money.
Tuesday, January 30, 2007
Monday, January 29, 2007
Sprint
The quality of your connection (number of calls dropped, the sound quality) changes over the time of your contract with the company. Also If you request them to honor a promise of free phone, rebates, or other savings, that they decided to conveniently forget, then you will notice, very immediate drop in quality of the sound and increase in number of calls dropped. The change is so instantaneous that one almost suspect that there is a routine that computes the amount of money your account is paying, and will be paying, and changes the quality of your call based on that.
Landlord
Lease: "This lease last a year, from October 30 XXXX to Nov 31 XXXX+1"... 13 month year.
Lease: Say, very politely, that the tenant has to put up with occasional remodeling/construction. Then do major remodeling, using cheap contractor that works from 8am to 11:30pm...
Favorite saying: "Again, that clause about XXXX carcinogenic chemical/material in the building is required by law. I personally really don't think there's any in the unit." (here "I" is an agent, who spends maybe an hour a day at the apartment once a year).
Credit Check: Landlord are not allowed to ask possible tenant to bring credit information. There appears to be a law against it to prevent rental discrimination. But of course, they still do ask if she thinks you don't know about the law.
Eviction
Well, there are many ways:
A.) Claim that a 30 year old washing machine was vandalized. Lock the laundry room to make it in convenient for the residents.
B.) Turn water off for repairs repeatedly for several weeks.
C.) Tow cars away immediately whenever reported.
Lease: Say, very politely, that the tenant has to put up with occasional remodeling/construction. Then do major remodeling, using cheap contractor that works from 8am to 11:30pm...
Favorite saying: "Again, that clause about XXXX carcinogenic chemical/material in the building is required by law. I personally really don't think there's any in the unit." (here "I" is an agent, who spends maybe an hour a day at the apartment once a year).
Credit Check: Landlord are not allowed to ask possible tenant to bring credit information. There appears to be a law against it to prevent rental discrimination. But of course, they still do ask if she thinks you don't know about the law.
Eviction
Well, there are many ways:
A.) Claim that a 30 year old washing machine was vandalized. Lock the laundry room to make it in convenient for the residents.
B.) Turn water off for repairs repeatedly for several weeks.
C.) Tow cars away immediately whenever reported.
Car Insurance
Insurance company: Admit fault, give a large estimate on the damaged on the car. (hopefully, that was on paper)
Insurance company, another agent: calls you up, asks for the medical bill, mumbles something about a separate check for the car damage (Car damage, thankfully is far more than the medical bill). Sends you the check for it, and a release that disconnects them from any and all legal responsibilities.
You: Deposit the check, and signs the release..., not realizing that you don't have the check for the car, and up a river with out ..., a car.
Insurance company, another agent: calls you up, asks for the medical bill, mumbles something about a separate check for the car damage (Car damage, thankfully is far more than the medical bill). Sends you the check for it, and a release that disconnects them from any and all legal responsibilities.
You: Deposit the check, and signs the release..., not realizing that you don't have the check for the car, and up a river with out ..., a car.
Sunday, January 28, 2007
Zero-percent-apr
Well, this story is often retold.
When you receive a special promotion on a credit card. Often, you may not notice until some time later, that the newest deal applies to only newest spending.
This means, all these months, that you sat there enjoying your zero percent APR, the balance in the account is still accruing finance charges.
Now, the trick here is that you can't pay off the debt that is collecting interest, until you've paid off the zero-percent-apr balance. Which, results in you paying the entire balance anyways.
When you receive a special promotion on a credit card. Often, you may not notice until some time later, that the newest deal applies to only newest spending.
This means, all these months, that you sat there enjoying your zero percent APR, the balance in the account is still accruing finance charges.
Now, the trick here is that you can't pay off the debt that is collecting interest, until you've paid off the zero-percent-apr balance. Which, results in you paying the entire balance anyways.
How to cancel a business deal
Problem:
Financial instution Q had a promotional offer on their card. But this promotional offer was not needed. But the original agreement did not allow for the termination of the benefits.
Solution:
When the users in the program has to apply for a new card, either due to loss of card (because the address change for the card is separate from the rest of the account). Simply force them to reapply under new terms and conditions.
Problem solved.
The user will not know what hit him until he reports that he didn't see the card in the mail (reporting it stolen). Then "You must reapply" appears on the screen.
Financial instution Q had a promotional offer on their card. But this promotional offer was not needed. But the original agreement did not allow for the termination of the benefits.
Solution:
When the users in the program has to apply for a new card, either due to loss of card (because the address change for the card is separate from the rest of the account). Simply force them to reapply under new terms and conditions.
Problem solved.
The user will not know what hit him until he reports that he didn't see the card in the mail (reporting it stolen). Then "You must reapply" appears on the screen.
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