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JimVanMeerten (63.30)

Is Financial Times cheating subscribers?

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March 12, 2012 – Comments (0) | RELATED TICKERS: PSO , BAC , T

For some time I've been a happy subscriber to the Financial Times owned by Pearson PLC (PSO) and enjoyed all the wonderful supplements and magazines that have accompanied my subscription.  Recently I noticed that I haven't received the How to Spend It magazine or any other supplement for that matter and after looking on the on-line site found that although they had published many magazines and supplements, I haven't gotten them.

When I called subscription services I was told that "Corporate" had made the decision not to distribute them anymore to many US subscribers.  I protested that I had paid for a full subscription and that it was unreasonable for them to cut services without notice.

In my next issue was an insert from Michael Skapinker, Editor of Special Reports and Supplements surveying subscribers on the magazines and supplements.  I immediately emailed him to ask why he was surveying a discontinued product but he hasn't responded.  Leslie McCoffery from Subscription Services promised me some answers and comments for this article but to date I haven't gotten a rely.

I have questions I'd like answered:

1 - How can a newspaper promise certain services, take my money and then decide not to deliver without notice or refunds?

2 - Have the advertisers who paid for advertisements in the magazines and supplements been informed that it is no longer being delivered to a large number of subscribers and have they received refunds or have advertising rates been adjusted?

Last year the company announced huge layoffs of staff some having over 20 years tenure with the firm and just last month the company announced 26% reduction in net profits.  Is the Financial Times is trouble?

They now join the list of companies cutting services or increasing fees.  Bank of America (BAC) had to reverse itself amid consumer protests of increased fees.  AT&T (T) is seeing customers of their unlimited services finding out the you may pay for unlimited services but that doesn't mean you'll get it.  Now Financial Times cuts the content you've been promised without refunds or notice.

If you are one of the many customers who have been effected email Michael Skapinker, Editor and vice your displeasure:   His email address:  michael.skapinker@ft.com

Maybe you can get the answers I can't get.

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