Re: [OM] RE: great find today! WAS Adorama purchase experience -Reply

[John Hermanson]

Is 47th St still in business?   They had multiple stores around the New York
area and owed EVERYBODY big time money.  It got to the point when  half
their board of directors was  replaced with  representatives from the
manufacturers who were owed the most money.  That way they could  actually
get some of their money back.
I think they have been whittled back  to 1 store in NYC.

John  Hermanson
___________________________________
Camtech, Olympus Service since 1977.
21 South Ln.  Huntington NY 11743-4714
631-424-2121 http://www.zuiko.com
Free Olympus Manuals: 1-800-221-3000
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----- Original Message -----
From: Brian P. Huber <bphuber@xxxxxxxxxx>
To: <olympus@xxxxxxxxxxxxxxx>
Sent: Monday, February 28, 2000 8:37 AM
Subject: RE: [OM] RE: great find today! WAS Adorama purchase
experience -Reply


> This used to be THE way of doing business for another old-time store with
a
> reputation similar to Cambridge:  47th Street Photo.
> They were masters at taking orders and not shipping, seems they were also
> heavily in the diamond market and used photo orders to finance from the
> float.
>
> Brian P. Huber
>
> Troy, OH
> bphuber@xxxxxxxxxx
>
> Scott Nelson wrote:
> >
> > 1. They'll take your order and charge your card but never deliver.
You'll
> have
> > to fight them to have the charge removed. In the mean time they get the
> float
> > off your money.
>
> Scott has hit upon the real business of some camera retailers.  They
> don't make any money off the products, but they do real well off the
> "float". . . . They not only have your money for the time between
> charging your card and delivery, but for long after that: They've
> negotiated 60-day, 90-day or (much) longer terms with the distributors.
>
> Morgan Sparks
>
>
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>


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