Subject:
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Re: Factoring status
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Newsgroups:
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lugnet.market.services
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Date:
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Wed, 8 Mar 2000 10:15:09 GMT
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Viewed:
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920 times
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Larry Pieniazek <lar@voyager.net> wrote:
> Welll, I chewed through SOME of my pending factors but not all. I
> skimmed the easier ones but some of the hard ones date back as far back
> as 22 Feb. Maybe I'll get some done on the plane, I am going to Des
> Moines IA tomorrow, I think.
>
> I'm starting to realise that factoring is snowballing out of control. If
> I can't come up with some ways to make it simpler and less time
> consuming, I'm going to exit it sooner rather than later.
I see your point and share your feeling. I see just the Italian side of the
service and... well, I must say I didn't imagine it would have meant so much
work and so much traffic. If all of the other countries bring you the same
amount of work I understand why you want to exit it.
On the other side, all these transactions means the service IS useful,
really useful. Most of the people thank me (and you) for providing such a
service. Steve might be right: making the service a bit more expensive could
make you happier and still keep the service cheaper than int'l check
clearing or wire transfers.
You could also rethink the fee as a (very small) percentage of the
transferred amount. This could remunerate the risks we take in running the
service:
- something could go wrong: due to our mistakes or misunderstandings we
could pay the seller before having received the money from the buyer (it
happened).
- us European and Japaneese factorees must consider the exchange rate risk.
I pay an Italian seller when the USD is 1.0x Euros. What happens if when I
receive some money one USD is 0.9x Euros? I reached an agreement with some
big sellers (like Cesare) to share the risk (and profit) of this effect, but
I can't do the same for all of the transactions. And my problem is the
Italians seem to sell more than what they buy in the US :-)
All that said, I definitely don't plan to withdraw, just expressed some free
thoughts. I will be happy to run my part of the service as I've done during
the last months at the same conditions. This thing started as a no profit
service and IMO this an important point to preserve. Just hope this will
remain a no loss service too :-)
Ciao
Mario
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Message is in Reply To:
 | | Factoring status
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| Welll, I chewed through SOME of my pending factors but not all. I skimmed the easier ones but some of the hard ones date back as far back as 22 Feb. Maybe I'll get some done on the plane, I am going to Des Moines IA tomorrow, I think. I'm starting (...) (25 years ago, 6-Mar-00, to lugnet.market.services)
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