update on photopoop >>

[Redcar GUY]

http://www.photopoint.com/statusupdate.html (`http://www.photopoint.com/statusupdate.html`)

:rolleyes: :rolleyes: :rolleyes: :confused:

[miguelgf]

Man, they have got a LOT of nerve.



I didn`t lose any pictures there - but I can only imagine the sheer frustration that anyone who has lost pictures there must feel by looking at that survey.



Granted - companies go out of business all the time, and you can`t blame Photopoint if you didn`t keep backups of your cherished pictures. That being said - for a company to hold someone`s pictures hostage, and to tell them `you`ll have to pay us $24.95 to send them to you` - is an outrage, plain and simple.



Very rarely do I not feel sympathy for a business that`s gone under, but this is one of those cases. :mad:

[Redcar GUY]

I had over 400 pics there.... I got almost all of them back before they stole them...............



and didnt even get kissed.............................http://www.corvetteforum.cc/zeroimg/smilies/mad.gif

[RedVR6]

Even if they do come back....I highly doubt I would rely on them for hosting my pics. I was very happy with their format and entire layout...but they go down two times like that...there is something wrong there.

[DETAILKING]

go to photopoint.com and fill out the survey. They do have our pics, but the creditors took all their equipment so they have not way to bring them online for retrieval. They ask if we would pay 25 bucks to get them sent to us on CD? MAN they really have us. I mean I would pay it because I want my pics, but I already paid 20 dollars in yearly fees to them that I lost!

[boywonder]

What about those who paid that fee to have their pics hosted? Will they get refunds? Credits? Will they apply the fee towards the retrieval of your pictures on CD-ROM (Hmmm, that would be too much like right, smart, intelligent (insert your own adjective here). :rolleyes: )

[DETAILKING]

creditors stormed in and seized their equipment....probably sold it and liquidated everything. They get first dibs on any cash left, after they are paid off, we start getting refunds. It will never happen.......SAD.

[RedVR6]

I will have to agree. Very sad...oh well.... :)

[miguelgf]

I don`t buy the whole `creditors took our equipment` BS. I`ve seen a LOT of bankruptcies in the computer world, and have yet to see a legitimate business just get raided one day and have their equipment confiscated. Who exactly did these guys borrow money from?!



I think it`s more along the lines of `they shut down our bandwidth, and we can`t afford to push the files down to you, so pay for our connectivity`.



Sounds rotten, either way.

[Lemonxxs]

From what I know about bankruptcy the Judge decides about the assets. Are they Chapter 7(closed) or 11(reorganize)? This makes a big difference.



If 7, normally there they auction the assets then the monies go to the creditors by how the money is owed. Stock holders are on the end of this list. Secured bond holders are on the top I think.



Read about the ENRON problems they have a ton of info on bankruptcy there.

[DETAILKING]

the site is run by pantellic software inc, who has been shut down for some time now. They also ran epsons photocenter, but recently epson shut down for a week and configured their own site, storage, and equipment. I just wish they could of given us even one days notice to back up our pics! THE SAVAGES!

[miguelgf]

Guys-



There`s different kinds of bankruptcy - one you mention, GMN - is Chapter 11 bankruptcy *protection* - where a company will seek protection against their creditors for exactly that reason - so they don`t get raided and put right out of business.



See K-mart - they recently went chapter 11 - not out of business - just needed protection from their creditors in order to restructure.



Chapter 7 bankruptcy protection is for individuals - same idea, different in that creditors can challenge the person declaring bankruptcy, and a judge will determine how much of the person`s assets will be given to creditors, and in what proportion.



Pantellic software owned Photopoint - they had originally spun it off, and ended up taking it back after the new venture ran into financial trouble.



Regardless of all the details - the bottom line is that they didn`t just one day have someone bust down the door, and start taking out servers. They knew of their condition for some time - and *SHOULD* have told customers that they should keep backups of all the photos on the site, in the event the site were to become unavailable. Same goes for all those membership fees they collected - I wonder how many people paid fees after Pantellic was aware of the fact they wouldn`t be in service for much longer.



Definitely not on the scale of Enron - but a scam, nonetheless.