PromoTheRobot Posted March 31, 2020 Posted March 31, 2020 Got an email from them today basically saying they can't afford to give refunds for cancelled events anymore. Instead you get 120% in credit towards a future purchase. Getting a cash refund is no longer an option. I had a ticket to a Sabres game in Montreal they owe me for. Luckily nothing else.
Saxum Posted March 31, 2020 Posted March 31, 2020 Probably will declare bankruptcy and keep the money with a new StubHub completely unrelated by old one taking over while old manager team is just getting shares silently. Macys did it to suppliers and after 2nd time they started requiring cash for all items since they would purchase a large number of goods before each bankruptcy.
Just Jack Posted April 1, 2020 Posted April 1, 2020 Kinda makes sense. You got no events that people are buying tickets for. Meanwhile, events that people have already bought, are being cancelled. So no money is coming in, but plenty of people want money to come out.
Augie Posted April 1, 2020 Posted April 1, 2020 (edited) 3 hours ago, Limeaid said: Probably will declare bankruptcy and keep the money with a new StubHub completely unrelated by old one taking over while old manager team is just getting shares silently. Macys did it to suppliers and after 2nd time they started requiring cash for all items since they would purchase a large number of goods before each bankruptcy. ...maybe call it “StudHub”, like McDowell’s? It call also serve as a male escort service, so new lines of revenue can enhance value! We have some pricey concert tickets with another couple coming up. I’m not sure how we acquired them, but fingers crossed. . Edited April 1, 2020 by Augie
JohnC Posted April 1, 2020 Posted April 1, 2020 10 hours ago, PromoTheRobot said: Got an email from them today basically saying they can't afford to give refunds for cancelled events anymore. Instead you get 120% in credit towards a future purchase. Getting a cash refund is no longer an option. I had a ticket to a Sabres game in Montreal they owe me for. Luckily nothing else. Airbnb and the airlines are also dealing with mass cancelations where they don't have the cash to pay back the money advanced. The airlines should not be given any bailout money or loans unless they pay back the money advanced for reservations that were cancelled because of no fault from the customers. 3
Mark80 Posted April 1, 2020 Posted April 1, 2020 1 hour ago, Just Jack said: Kinda makes sense. You got no events that people are buying tickets for. Meanwhile, events that people have already bought, are being cancelled. So no money is coming in, but plenty of people want money to come out. Sounds kind of like what brought down some poker sites. Instead of living off the fees, they were living off of cash in the accounts and when it crashed they couldn't pay out. Seems to me that stubhub shouldn't be living off the money from the tickets just in case they needed to refund them. They should have been living off the fees. 1
bbb Posted April 1, 2020 Posted April 1, 2020 17 hours ago, PromoTheRobot said: Got an email from them today basically saying they can't afford to give refunds for cancelled events anymore. Instead you get 120% in credit towards a future purchase. Getting a cash refund is no longer an option. I had a ticket to a Sabres game in Montreal they owe me for. Luckily nothing else. So, that's even if it's cancelled? I know the Sabres and everybody are holding everybody's money because the season is "on pause" - not cancelled. Same with Stones tour - postponed, so they're keeping the money. Ticketmaster that is.
Ridgewaycynic2013 Posted April 1, 2020 Posted April 1, 2020 Just 10 hours ago, Augie said: ...maybe call it “StudHub”, like McDowell’s? It call also serve as a male escort service, so new lines of revenue can enhance value! Reading this, and I wonder why teef hasn't already volunteered. ? * Interesting how many of these businesses sound like a Ponzi scheme, when you look at how they finance the operation. 1 1
John in Jax Posted April 1, 2020 Posted April 1, 2020 10 hours ago, JohnC said: Airbnb and the airlines are also dealing with mass cancelations where they don't have the cash to pay back the money advanced. The airlines should not be given any bailout money or loans unless they pay back the money advanced for reservations that were cancelled because of no fault from the customers. I am just dumbfounded at how the airlines are not flush with cash. Before this pandemic hit, virtually every time I flew, I marveled/ranted at how jam packed full the flights were, and said to my wife many times, "if they're [the airlines] not rolling in cash at their corporate offices, something is really, really wrong." Airline costs was/is really the only service/good you buy where you have absolutely no idea what the "real" cost is. I have seen investigative news stories where they found out that 20 people on the same flight paid 20 different amounts to fly. WHAT are they doing with the money!? LOL 1
BUFFALOKIE Posted April 1, 2020 Posted April 1, 2020 11 hours ago, JohnC said: Airbnb and the airlines are also dealing with mass cancelations where they don't have the cash to pay back the money advanced. The airlines should not be given any bailout money or loans unless they pay back the money advanced for reservations that were cancelled because of no fault from the customers. I am not disagreeing with you, but, AA now has something lik $10 billion in parked airplanes at Tulsa airport. Multiply that across other cities and other airlines. Airlines operate on razor thin margins. It is extremely expensive to build, fly and maintain those birds. 1
aristocrat Posted April 1, 2020 Posted April 1, 2020 48 minutes ago, John in Jax said: I am just dumbfounded at how the airlines are not flush with cash. Before this pandemic hit, virtually every time I flew, I marveled/ranted at how jam packed full the flights were, and said to my wife many times, "if they're [the airlines] not rolling in cash at their corporate offices, something is really, really wrong." Airline costs was/is really the only service/good you buy where you have absolutely no idea what the "real" cost is. I have seen investigative news stories where they found out that 20 people on the same flight paid 20 different amounts to fly. WHAT are they doing with the money!? LOL stock buy backs
Best Player Available Posted April 1, 2020 Posted April 1, 2020 4 hours ago, bbb said: So, that's even if it's cancelled? I know the Sabres and everybody are holding everybody's money because the season is "on pause" - not cancelled. Same with Stones tour - postponed, so they're keeping the money. Ticketmaster that is. Ticketmaster is and has been refunding money for Stones concert. In Buffalo and elsewhere.
PromoTheRobot Posted April 1, 2020 Author Posted April 1, 2020 5 hours ago, bbb said: So, that's even if it's cancelled? I know the Sabres and everybody are holding everybody's money because the season is "on pause" - not cancelled. Same with Stones tour - postponed, so they're keeping the money. Ticketmaster that is. Honestly that isn't clear. I had a ticket for Sabres @ MTL on 3/24 and I've had no communication from StubHub or anyone who will answer a question. 1
JohnC Posted April 1, 2020 Posted April 1, 2020 (edited) 2 hours ago, BUFFALOKIE said: I am not disagreeing with you, but, AA now has something lik $10 billion in parked airplanes at Tulsa airport. Multiply that across other cities and other airlines. Airlines operate on razor thin margins. It is extremely expensive to build, fly and maintain those birds. No one is denying that it is expensive to run an airline. However, the airlines were thriving with capacity tight seating and low fuel costs. If a customer cancelled because of no fault of his own he should be reimbursed for the money put out and the service not received. Edited April 1, 2020 by JohnC 1
That's No Moon Posted April 1, 2020 Posted April 1, 2020 1 hour ago, BUFFALOKIE said: Airlines operate on razor thin margins. It is extremely expensive to build, fly and maintain those birds. And when they piss away billions of dollars on stock buybacks to make sure that upper mgt hits their bonus triggering performance targets... 3
shrader Posted April 1, 2020 Posted April 1, 2020 6 hours ago, bbb said: So, that's even if it's cancelled? I know the Sabres and everybody are holding everybody's money because the season is "on pause" - not cancelled. Same with Stones tour - postponed, so they're keeping the money. Ticketmaster that is. And when they are cancelled, wouldn't the refunds go to the original ticket holder as opposed to someone further down the chain on a stubhub purchase?
Hardhatharry Posted April 1, 2020 Posted April 1, 2020 StubHub has had a history of not being able to "Pay back" people even before coronavirus. 1
Saxum Posted April 1, 2020 Posted April 1, 2020 5 hours ago, PromoTheRobot said: Honestly that isn't clear. I had a ticket for Sabres @ MTL on 3/24 and I've had no communication from StubHub or anyone who will answer a question. Time for laywers to come out of woodwork. You KNOW laws are written so they do not need to adhere to quarantine rules. I am sure plaintiffs will get discount coupons while laywers get enough money to upgrade their car fleets.
PromoTheRobot Posted April 1, 2020 Author Posted April 1, 2020 4 hours ago, That's No Moon said: And when they piss away billions of dollars on stock buybacks to make sure that upper mgt hits their bonus triggering performance targets... What are you? Some kind of Socialist?
bbb Posted April 1, 2020 Posted April 1, 2020 6 hours ago, Best Player Available said: Ticketmaster is and has been refunding money for Stones concert. In Buffalo and elsewhere. I was told they weren't. I stand corrected.
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