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Andrew,
The contract is a snag in the exit strategy.
My girlfriend and I had a massive phone bill discrepancy with MCI. We felt
that they were fraudulently representing rates and purposely overcharging.
They would not adjust our balance to what we beleived was the correct
amount. We wrote to the FCC, SCC, and Better Business Bureau about our
situation. The response from MCI was immediate and in the form of letters
and a check for actually more than we claimed they owned us. We got two
letters from Vice-Presidents in MCI. In other words, companies appear a
little nervous when the FCC is involved.
Since BMI is provides data over cable lines I wonder if they fall under the
jurisdiction of the FCC. You may want to write a couple letters to the FCC
and make a couple of calls to BMI letting them know before attaining an
attorney. Maybe you should write letters, document your calls & complaints,
continue paying BMI(so you don't breach you end of the contract), switch to
another provider, and sue BMI for the $ amount in small claims court where
you won't need to pay an attorney but BMI would have to go to the time and
expense of sending an representative. In my opinion, BMI would be more
likely to settle/dismiss a individual lawsuit than backing them into a
corner with a class action suit they would obviously contest.
Just my thoughts and good luck,
Howard
>From: andrew g <spcoach@xxxxxxx>
>To: hehohop@xxxxxxxxxxx, realtraders@xxxxxxxxxxxxxxx
>Subject: RE: [RT] Re: anyone using Dynastore? and BMI class action suit.
>Date: Fri, 14 Jan 2000 19:18:07 -0500 (EST)
>
>Howard...
>I appreciate your point of view, and I aggree 100%.
>The problem is they have us locked in to a one year contract.
>They are not providing the product which I contracted for.
>They will not let me out of the contract and will not provide realtime
>quotes. I am going to have to get an atturny to brake the contract. My
>contract with them is almost 5k for the year. It worth 2 or 3k to go after
>them. Anyone else want to get in on this action? We could share the legal
>cost and with some luck get out of our contracts?
>
>
>
>------Original Message------
>From: "Howard Hopkins" <hehohop@xxxxxxxxxxx>
>To: realtraders@xxxxxxxxxxxxxxx
>Sent: January 14, 2000 9:15:57 PM GMT
>Subject: [RT] Re: anyone using Dynastore? and BMI class action suit.
>
>
>Andrew,
>
>I've never had BMI in the 2 1/2 years I've been trading futures but have
>know several people that have. DTN Satellite, eSignal, and MyTrack have
>been faster (and cheaper) than BMI EVERYTIME that I have compared quotes
>with a BMI user.
>
>I don't know for sure but I am guessing that BMI is not buying quotes that
>are 10 seconds delayed from the exchanges. So they are not being
>fraudulent. They are sending out real-time quotes just through a slower
>transmission method, be it over-loaded servers or whatever.
>
>I beleive one of the major problems in our society is the lawyers have
>created a 'sue first, ask questions later' attitude anytime we've been
>"wronged".
>
>Take responsability yourself... leave BMI enmasse and never return. Vote
>with your feet not your attorney.
>
>Just my thoughts...
>
>Howard
>
>
> >From: andrew g <spcoach@xxxxxxx>
> >Reply-To: spcoach@xxxxxxx
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Subject: [RT] anyone using Dynastore? and BMI class action suit.
> >Date: Fri, 14 Jan 2000 00:03:00 -0500 (EST)
> >
> >Anyone using Dynastore to run Tradestation 4.0 on Quote.com?
> >If so dose is seem to be reliable? Is it fast?
> >
> >BMI is a joke...
> >Since they have contracted to provide real-time data, and have obviously
> >not
> >created the infrastructure to meet thier contractual obligations, could a
> >class action law suit be filed for fraud? After all the small investor is
> >being duped. They are paying for real-time information and more
> >importantly
> >relying on it to trade with. And BMI has take no proactive actions to
> >notified real-time customers that data is coming in late. Which means,
> >investors are unknowingly trading with bad data. I am not a lawyer, but
>it
> >sounds like a good case to me.
> >
> >Andrew G
> >
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> >
>
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