|
PureBytes Links
Trading Reference Links
|
As many of you know (and for others who don't), I've been "negotiating" (arguing)
with Genesis Financial Data of Colorado Springs since April regarding Genesis'
continued sales of Pricing Data KNOWN to contain numerous errors. During the
process, I've been lied to, put off, re-directed, challenged, threatened and
ignored by Genesis' president and owner, Glen Larson.
In early May, Larson threatened me with legal action, as he tried to buffalo his
way past my discovery and exposure of his Bad Data. But when I showed him proof of
my claims, the threats suddenly disappeared and an email parade (80+) began.
I documented the errors to Larson and met with wall after wall of denials,
finger-pointing, excuse after excuse, before he twice - in writing - finally
admitted them. It turns out that Larson had know about the errors for up to a year
PRIOR to my talks with him, and therefore he's been scamming the public for about
18 months, possibly longer.
I requested that Larson notify the marketplace that the product he's selling is
faulty. (Note that I have no financial stake in this issue. I returned the bum
data long ago and got my refund. I'm on record that if any financial benefits are
derived from this situation, every penny will go to a non-involved charity).
However, I'm insistent that Genesis responsibly admit the errors and stand behind
their product. Larson has refused. His position is effectively "Customers are on
their own. It's not my problem."
I don't agree. I've repeatedly requested to Larson that he answer my claims
openly - on the forums and newsgroups where I've posted my complaints, where
Genesis customers, potential customers, and interested but unbiased observers can
decide, and I would abide by the majority opinion. We could both openly state our
positions and let the public determine if he's scamming and covering up or if I'm
wrong in exposing him. Larson refuses.
I began occasionally posting my unpleasant and on-going experiences with Genesis
to several chat forums as we continued discussions. Larson didn't like the
negative Internet exposure, asked me several times to cease, yet he still refused
to provide admissions and corrections to those who rely on his data for trading
analysis.
On June 9th I offered that if Larson would agree to make a contribution to a
federally-recognized, fully tax-deductible charity in a neutral state, I would
stop exposing him on the Internet. He led me to believe that we'd struck an
agreement. I should have known better.
Larson reneged on the contribution to charity, and instead on June 26 he tried to
buy my silence with another tactic. His ploy: "Since you are very good at finding
data errors, I would like to offer perhaps a proposal that will benefit both of
us. I would like to offer you free updating as long you need. All you need to do
is let us know immediately of any errors that you may find."
Such a deal. I (politely) told him where to stick it.
On July 9, the offer was this: "I would like you to have the data...I hate to
admit it, but the most critical people of data are just those we need using or
looking over our data..." I told him no way, I didn't want any more of his Bad
Data, and I wouldn't use it under any circumstances. (Would you?)
He shipped it to me anyway, trying to "close out our problem." It's still sitting
here, unopened.
Larson danced, dodged, and delayed his way thru yet another month of BS with me,
resolving nothing. On August 5 he again offered: "I would request if there isn't
someway that we could compensate you, using our data services and products."
I again refused. (Would any readers of this ridiculous saga be comfortable in
dealing with this company?)
I began increasing the number of Internet postings, and copied Larson on them. It
hasn't been enough to force him into an ethical, responsible solution to the
problem, but it served to raise public awareness of it and to advise people to
watch out.
In September - as I promised Larson - I started to seriously attack this scam in
public, actively posting my experiences with Larson and my opinions about it to a
variety of newsgroups and financial forums. This one is also being copied to
Futures Magazine, Stocks & Commodities, Investors Business Daily and the Wall
Street Journal. Whether it gets printed or not, I don't know. But the dishonesty
is blatant, and I'd like for others not to be taken in by it. In my opinion, this
deliberate deceiving of the public by selling a product with known defects is
fraud, and Glen Larson is the owner and perpetrator. When the smoke clears and
I've exposed him sufficiently on the Internet and in trade publications, I'll turn
my findings and documented discussions over to federal and Colorado State
authorities. Maybe they can ask him some questions and explain to him what the
terms "ethical" and "responsible" mean.
Larson has refused to respond to my messages since Sept.12, but I continue to send
him copies of my Internet postings anyway (including this one). I offered to
withdraw or make adjustments to my claims if he could disprove any of them. He's
declined (even though I sent him notification of my intent by Certified Mail).
Behold - early last week I get a meek little form letter in the mail from Genesis.
Larson is still pointing fingers elsewhere - anywhere - everywhere - this time at
Omega Research, and only for certain products - even though (on May 11) he said "I
didn't think we have a relationship with Omega for several years." Right,
Mr.Larson - so then how exactly are they responsible for YOU selling Bad Data?
But at least he's finally and publicly acknowledged that there's a problem with
his data. He won't refund your money, of course - he's only offering to "replace"
the Bad Data with - what else? MORE of his Bad Data.
The scam continues.
Call Larson, if you'd like, but expect whines, denials, complaints, dances,
finger-pointing, and other excuses not to give you a refund. He's a sweet-talker,
but the *facts* are as you've read them (above). Perhaps Larson can explain why
it's taken 80 emails, 6 months and relentless Internet pressure for him to make
right on his own product and he STILL won't give customers their money back.
His form letter is undated. It finishes with "If you have any questions about this
offer, please call us (800-808-3282)." If you email him directly
(GLarson@xxxxxxxx), bring your hip-waders.
Good Luck.
Tom Beno
Maple Valley, WA
|