I used to go to the BBB site to check out businesses. Now I know better: http://abcnews.go.com/Blotter/business-bureau-best-ratings-money-buy/story?id=12123843 <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3156616> Terror Group Gets 'A' Rating From Better Business Bureau? Consumer Watchdog Accused of Running 'Pay for Play' Scheme With Grading System The Better Business Bureau, one of the country's best known consumer watchdog groups, is being accused by business owners of running a "pay for play" scheme in which A plus ratings are awarded to those who pay membership fees, and F ratings used to punish those who don't. To prove the point, a group of Los Angeles business owners paid $425 to the Better Business Bureau and were able to obtain an A minus grade for a non-existent company called Hamas, named after the Middle Eastern terror group. "Right now, this rating system is really unworthy of consumer trust or confidence," said Connecticut attorney general Richard Blumenthal in an interview to be broadcast as part of an ABC News investigation airing tonight on 20/20. In an official demand letter sent to the national headquarters of the Better Business Bureau Thursday, Blumenthal called on the BBB to stop using its grading system, which he said was "potentially harmful and misleading" to consumers. "The BBB accreditation and the BBB ratings systems is not about generating money," said BBB national president and CEO Steve Cox. He said the A minus grade for Hamas was given in error. "Plain and simple, we made a mistake," Cox told ABC News. Errors seem to abound at the Better Business Bureau. As reported by an anonymous blogger the BBB also awarded an A minus rating to a non-existent sushi restaurant in Santa Ana, California and an A plus to a skinhead, neo-Nazi web site called Stormfront. Each listing cost $425. "They ran the credit card and within 12 hours they were an approved, accredited member," said the anonymous blogger, who runs a site called bbbroundup.com. "They're more interested in the money than their credibility," he said.
S&P, Fitch, Moody's - "It's just our opinion protected by First Amendment" - when asked why they rated firms like Bear Stearns and Lehman AAA days before they blew up. All the old models unraveling. Now if the damn realtor industry would stop getting paid 6% to put your home on a public website, we'd be another step closer to getting rid of another old model.
I never understood the point of the BBB. I could pay a fee to belong and then what? Tell my customers I'm a member of the BBB? Who feels good about that? Somehow this lends credibility to your business? BFD. The BBB is right up there with the Chamber of Commerce in my book. Waste of time. Although I was member of the CoC for ten years, waste of money, didn't do a thing for me. I suppose these places are for businessmen to hang out their ego when they should be working, or need their picture in the paper. Pffttt.
way back in 1990s, BBB saved me from getting ripped off in a Florida scam that would promise professional/technical jobs for $399 sign up. BBB also alerted me about the vending machine type business in which folks lost from $5K to upwards to crooks who never delivered the machines. I am thankful to BBB ever since.
To their credit, the BBB recently helped my wife get a refund on a bunch of defective merchandise the merchant was refusing to refund prior to contact the BBB. Even if they do not do any checking at all as to who joins, they do work to hold companies accountable if they F over consumers.
If a consumer files a complaint with BBB, and the offending business has paid the $400 or so application fee, the consumers argument will not be justly reviewed and the business keeps its A+ rating intact...in reality saving hundreds and perhaps thousands per complaint. The consumer having to cut losses, will have additional costs, perhaps into the K's to incur. In the end, everyone's happy except for the consumer who has to endure more stress by way of BBB for lack of judicious adjucating.
I remember back when the BBB required you to call a 1.900 number to report or get info. I knew immediately it was a scam. Some investigative journalist should check these jokers out. surf