AOL-TimeWarner Fined 750 Million
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AOL/Timewarner owns about half of the media, so few sources will actually tell you what "accounting irregularities" means. It means theft and fraud on a massive scale.
Let me give you an example: about two years ago, I used one of those 30-day free trials that AOL gives out. Around the 25th day, I told the company to cancel, in which case I wouldn't be charged anything and I'd go back to my current ISP (Earthlink, which has treated me quite well, and I am willing to recommend based on my own extensive experience). So, AOL cancelled my service, and I tried to go back to Earthlink. AOL, however, would not get out of the way, and I spent considerable effort to get my computer back from AOL. It turned out, however, that AOL/Timewarner cancelled my internet access, but didn't stop charging me for internet access. They charged me, quite illegally, for three more months after I cancelled on them. When I told them off for charging me well past their legal limits, they got aggressive with the credit card company and forced the bill to be paid (I believe there is some type of law a company can use to enforce charges when necessary. AOL decided to illegally abuse this law).
This event wasn't just limited to me. Some bankers have near-horror stories of trying to deal with AOL/Timewarner.
Some similar complaints are here, here (long list), and here.
Let me quote the last one:
There's also some stuff on the near-impossibility of canceling AOL here, and a double-billing scheme here.
So, I am overjoyed that AOL is getting a huge fee. They deserve it. The executives who designed and authorized these schemes out to have their mansions torched, as well. Their yachts should be given to good consumer advocates like Ralph Nader, too (I wouldn't mind one, though). Hell, just imprison the executives like the criminals they are--maybe not the new one(s), as I don't know how good or bad they might be—but the old ones are not worth anything. No one would miss them. If the executives purposefully make their service nearly impossible to use and illegally bill customers, in some stupid scheme to make more money, then those executives deserve to lose everything.
Not only are AOL's actions irresponsible, but also they are a huge drain on the economy. Thousands (probably tens of thousands, maybe hundreds of thousands) of people spent several hours trying to cancel AOL, resulting in a loss of tons of work-hours. That lowers overall US productivity. I admit that AOL caused very small changes in productivity, but they knowingly lowered it to illegally make an extra buck.
I am overjoyed with this fine. It is probably larger than the amount AOL stole from its customers, but it's impossible to get data for that. I would be happier if the money came directly from the executives, rather than the company as a whole--which will fire tons of people, many of them from the already-sucky customer service department, to recover the money. I'd also love to see some executives in prison, but that's probably wishful thinking.
The Securities and Exchange Commission and Time Warner Inc. are nearing agreement on a deal in which the media giant would pay about $750 million to settle wide-ranging allegations of accounting irregularities at Dulles-based America Online Inc.
AOL/Timewarner owns about half of the media, so few sources will actually tell you what "accounting irregularities" means. It means theft and fraud on a massive scale.
Let me give you an example: about two years ago, I used one of those 30-day free trials that AOL gives out. Around the 25th day, I told the company to cancel, in which case I wouldn't be charged anything and I'd go back to my current ISP (Earthlink, which has treated me quite well, and I am willing to recommend based on my own extensive experience). So, AOL cancelled my service, and I tried to go back to Earthlink. AOL, however, would not get out of the way, and I spent considerable effort to get my computer back from AOL. It turned out, however, that AOL/Timewarner cancelled my internet access, but didn't stop charging me for internet access. They charged me, quite illegally, for three more months after I cancelled on them. When I told them off for charging me well past their legal limits, they got aggressive with the credit card company and forced the bill to be paid (I believe there is some type of law a company can use to enforce charges when necessary. AOL decided to illegally abuse this law).
This event wasn't just limited to me. Some bankers have near-horror stories of trying to deal with AOL/Timewarner.
Some similar complaints are here, here (long list), and here.
Let me quote the last one:
AOL is billing me 28.90 per month for nothing. This should not be legal for them to do this to people. I don't know what else to do and I don't know how to keep it from happening. Do we not have any rights anymore that companies can bill you and then make you the bad guy for want[ing] them to take it off?
There's also some stuff on the near-impossibility of canceling AOL here, and a double-billing scheme here.
So, I am overjoyed that AOL is getting a huge fee. They deserve it. The executives who designed and authorized these schemes out to have their mansions torched, as well. Their yachts should be given to good consumer advocates like Ralph Nader, too (I wouldn't mind one, though). Hell, just imprison the executives like the criminals they are--maybe not the new one(s), as I don't know how good or bad they might be—but the old ones are not worth anything. No one would miss them. If the executives purposefully make their service nearly impossible to use and illegally bill customers, in some stupid scheme to make more money, then those executives deserve to lose everything.
Not only are AOL's actions irresponsible, but also they are a huge drain on the economy. Thousands (probably tens of thousands, maybe hundreds of thousands) of people spent several hours trying to cancel AOL, resulting in a loss of tons of work-hours. That lowers overall US productivity. I admit that AOL caused very small changes in productivity, but they knowingly lowered it to illegally make an extra buck.
I am overjoyed with this fine. It is probably larger than the amount AOL stole from its customers, but it's impossible to get data for that. I would be happier if the money came directly from the executives, rather than the company as a whole--which will fire tons of people, many of them from the already-sucky customer service department, to recover the money. I'd also love to see some executives in prison, but that's probably wishful thinking.
posted by Chris at
3:50 PM
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