Systemax Investigated By Attorney General Over Rebates

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According to this report, Florida’s attorney general is investigating Systemax for debiting its vendors for rebates that it never passed on to consumers.

Systemax' latest filings with the Securities and Exchange Commission acknowledge significant deficiencies in its financial controls. Those weaknesses affected Systemax' accounting for shipments, returns, co-op ads and customer rebates. Writing to the SEC on Sept. 6, the company said it expected to still be working to fix its accounting problems through the end of 2007, while expressing the belief that any undetected errors didn't exceed 5% of its pretax income.
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Can This Tiger Keep Roaring?
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Yup, more than likely. Although it would be nice to watch them fold like a piece of paper. Maybe SCO can buy them out and rebuild them as a great company. :)
 
Exavior said:
Yup, more than likely. Although it would be nice to watch them fold like a piece of paper. Maybe SCO can buy them out and rebuild them as a great company. :)
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sure, and they can use the RIAA for management and legal dept. they seem to have no problems finding a bank account to siphon from. guess if all else fails there always seems to be no lack of venture capitalists around for life support.

IMO TD is one of the worst companies to do business with, and the [H] review of Systemax systems bears out my experience as well. i have and will pay more for a component from anyone else before i would spend my money with TD or any of its sibling companies.
 
I hope they fry.

Nothing I hate more than companies that pull shady rebate practices. Quite fitting that they bought CompUSA. CompUSA wrote the book on avoiding rebates. :rolleyes:
 
All customers who are still waiting for one of their rebates should all line up to get their money, and let Systemax feel the squeeze.

Customers shouldn't have to file for anything when a rebate is offered, but instead the e-tailer/retailer should pass on the savings to the customer right away, and corporations should figure sort things out between themselves on how to get the money back.

Not that I have had any bad experiences with rebates, but setting a good example with proper legislation should help protect the consumer.
 
not that I want to be a devils advocate but....

I purchased 3 of their barebone kits, each shipped to 3 different addresses, each requiring 4 rebates for the various components.

I received all 12 rebates within 4 weeks.

just saying.
 
you are one of the few. Some how a few actually do get their rebates. Most don't.
 
That's why I don't buy rebate items unless it's an "instant rebate". Let the company get the rebate from the manufacturer, not the consumer.
 
bearax said:
not that I want to be a devils advocate but....

I purchased 3 of their barebone kits, each shipped to 3 different addresses, each requiring 4 rebates for the various components.

I received all 12 rebates within 4 weeks.

just saying.
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I suppose they award rebates for customer loyalty. You bought a bunch of stuff, so they might be patting you on the back.

Just saying.
 
bearax said:
not that I want to be a devils advocate but....

I purchased 3 of their barebone kits, each shipped to 3 different addresses, each requiring 4 rebates for the various components.

I received all 12 rebates within 4 weeks.

just saying.
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i am glad to hear you did not pull the short straw, but i methinks you should avoid buying a lotto ticket...you used your shot with systemax :p
 
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