Most of you are probably aware of the controversy surrounding Wells Fargo, where unrealistic sales quotas “forced” employees to fraudulently set up multiple unauthorized accounts for existing account holders. The accounts then were hit with service charges that the customers were unaware of – mainly because they didn’t even know these extra accounts even existed. And according to the latest information, this practice had existed for over 10 years. Customers were on record as having complained about fake accounts as far back as 2005.
This has prompted me to add WF to the list of companies that I will never patronize in any way.
They were already on the outs with me when they refused to allow a home owner to sell me her house via a short sale. She had apparently defaulted on her mortgage AND a personal equity loan that she took out against the property. Instead of taking a $75,000 write-off on the loss, the bank said that I had to pay that extra amount (which when added to our offer price was $75K OVER the appraised value of the property). Needless to say, I walked away from the deal. Five years later the house still sits empty and decaying due to neglect, it’s owner long-since moved away. So instead of writing off $75K as a loss, the bank foolishly now sits on a property worth considerably less.
That was 6 months of my life I definitely could have done without.
Here, then, is a list of companies that I will never again patronize:
- Wells Fargo Bank – (see above)
- General Motors – The way they mishandled the deadly recall issues of the past decade was nothing short of irreprehensible. Their cars have a long history of defects, cheaply manufactured parts, and poor overall reliability. I should know – I owned a used 1977 Camaro, a new 1995 GMC Jimmy 4×4, and a straight-from-the-factory custom-ordered 2002 Olds Alero that had a litany of inexcusable issues.
- Musi Racing Engines – Years ago I paid them to build me a streetable racing engine for my weekend warrior. It was a sizeable cost for me at the time. Pat Musi, the owner, was doing well in the pro mod ranks with his “Popeye” car and his brother Ralph was a successful racer at my track. The head work on my engine was good but the rest of the motor was garbage. Right from the get-go there were issues, with the engine finally spinning the bearings and becoming nothing more than an oversized paperweight. With the first signs of trouble (I hadn’t even raced it yet, it was still in commuter car mode) I contacted the shop only to be rebuffed by the douche who answered the phone. They refused to be bothered and wouldn’t even look at it. Later I found out that that experience and (lack of) quality level was not unique to me. Others had gone through the same thing with them.
There are other companies – large and small – that have either since gone out of business or I’m just conveniently forgetting. But as time goes on I will likely be adding to this list (unfortunately).
What companies have turned you off?