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XM's rebate checks no good

Discussion in 'Sirius XM General Discussion' started by Lord Vader, Nov 14, 2008.

  1. Lord Vader

    Lord Vader Supreme Member DBSTalk Club

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    Sep 20, 2004
    Galactic Empire
    As if this merged company isn't having enough problems, I get this Email today (I bought a new receiver in the summer and am only NOW supposed to be getting the damn rebate check):


     
  2. Fontano

    Fontano Godfather

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    Feb 7, 2008
    While you may be a little ticked about it.

    At least you found out now, before getting a fee from your bank, when the check bounced.
     
  3. Lord Vader

    Lord Vader Supreme Member DBSTalk Club

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    Sep 20, 2004
    Galactic Empire
    Oh, it's not like I'm pissed as hell; rather, I'm rather a bit irritated.
     
  4. turbovr6

    turbovr6 AllStar

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    May 17, 2007
    It's not just an XM thing. Many of us are getting shafted on rebates right now....

    http://enthusiast.hardocp.com/article.html?art=MTU4NCwxLCxoZW50aHVzaWFzdA==


    Quote :
    Here is a simple overview of how a rebate with CPG works. Company X puts a rebate on its product, let’s say for $20. Company X expects to pay out 5000 of these rebates to consumers. Company X would then put the $100,000 needed to cover that rebate into CPG’s bank accounts. CPG basically escrows the money for consumers. CPG is trusted with this money in order to make sure the consumer is “safe.”

    We have it from good sources currently that CPG owes consumers somewhere in the neighborhood of $9M to $12M worth of rebates. The problem here is that CPG currently only has about $3M in cash to cover that $9M-$12M in rebates owed to the consumer. Where that money has gone to is anyone’s guess and we will leave speculation up the law enforcement authorities and the courts.
     
  5. Fontano

    Fontano Godfather

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    0
    Feb 7, 2008
    Do most of the rebate houses then make their money, off the intrest on those deposits by the bigger companies?

    Hence the 8-12 week timelines for payoffs? (time to get enough intrest of it)

    If that is the case, this could be a BIG BIG issue with the way the economy is right now.
     

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