| scoreman |
11-26-2002 03:01 PM |
Something that is not mentioned on this merchantfraud.com site is that IBILL did in fact pay out to webmasters monies that were not collected from Worldcom. IBILL's payout schedule prior to the bankruptcy was to pay out web900 about 6 weeks after the call. The web900 process of MCI collecting from the local telcos who in turn collected from the endusers made it so that IBILL was not paid by MCI until about 12 week after the call. Every payment IBILL was making on Web900, they were floating money to the webmasters, monies that had not yet been collected. So when the boom was lowered by Worldcom, IBILL was stuck on monies they had already paid out, plus now there was this ugly issue of what to do with monies that they had not paid out and were also uncollected from Worldcom. There are monies owed to the webmaster community by IBILL/Worldcom, but the payment that came directly before the missed payment(s) was in fact monies that IBILL never collected on. I think they got stuck on this to the tune of over a million dollars.
If I had been IBILL's PR dept I would have brought this issue to the forefront because what it means is that of the total bill Worldcom stuck IBILL for, about half of it was absorbed by IBILL and the other half was put on the site owners. If this merchantfraud.com site is going to level criticism they should be fair and present the complete picture of how this web900 debacle unfolded.
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