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A group of online merchants file a lawsuit against Amazon (AMZN) in Washington over a policy by...

A group of online merchants file a lawsuit against Amazon (AMZN) in Washington over a policy by the company to withhold payments to sellers for more than 90 days. The suit contends Amazon is a "money transmitter" required by state law to disburse funds within ten business days.
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Comments (3)
  • Robert Wu
    , contributor
    Comments (63) | Send Message
     
    Operating cash flow can be manipulated by delay the payment to third party.
    18 Mar 2013, 10:07 AM Reply Like
  • Michael428
    , contributor
    Comments (811) | Send Message
     
    Oh my goodness....Amazon getting sued. This is quite shocking to me.

     

    Bezos was The Executive of the Year. Bezos is like Thomas Edison. And what did Edison do that was so great anyway? Invent a silly old light bulb or motion picture projector. Bezos is reinventing the way we shopped...plus most buyers do not even have to pay that silly old sales tax.

     

    Plus what small business really needs to be paid in less than 90 days? Bezos has a much better use for that cash...he can buy his office building and use the float to pay for the building...it is like using the building for free. I am sure that was a huge factor when he was voted Executive of the Year. The heck with small business and their cash flow.
    18 Mar 2013, 10:20 AM Reply Like
  • krk
    , contributor
    Comments (836) | Send Message
     
    This practice of stretching the A/P days was the subject of a Stephen Colbert segment two years ago..
    http://bit.ly/xJ9qBD

     

    Dr. Jeffrey Leonard who appeared on the show wrote a piece in Washington Monthly: "Memo to Obama: Do small Business a simple favor" to bring attention to this pernicious practice.
    http://bit.ly/AjXlKd
    18 Mar 2013, 10:39 AM Reply Like
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