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pay by touch
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Pay by touch
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pay by touch
real estate
Commercial real estate vacancies show no sign of dot-bomb 2.0
Recent reports from local real estate trackers put the amount of office space relinquished by local companies in the last quarter at the highest it has been since the third quarter of 2002 — 436,933 sq. ft, according to commercial broker CB Richard Ellis, or the equivalent of nearly all the space in the Transamerica pyramid. The East Bay and the South Bay also saw an uptick in vacancies. The bankruptcies of Sharper Image, Pay By Touch, and RedEnvelope helped push up San Francisco's vacancy rate, but South of Market remained an untouched bubble of business leases, thanks to expansion by Monster.com, Advent Software, and Splunk. (Photo by Thierry)
deathwatch
Requiescat in pace, Pay By Touch
Biometrics payments firm Pay By Touch shuttered for good yesterday. The last remaining client retailers will unplug their Pay By Touch fingerprint payment machines Thursday morning, a tipster tells us. He goes on to say, "I hope that piece of shit John Rogers goes to jail." Wishful thinking: Past run-ins with the legal system don't seem to have taught him anything.
deathwatch
John Rogers's Pay By Touch finally falls apart
Here's John Rogers. He's morally and financially bankrupt. He's a once-convicted felon with addiction problems and a taste for threatening strangers and lovers. And his dream is dead. More »
bloggers
Pay By Touch threatens to sue over blog post
Biometrics payments firm Pay By Touch is selling assets in "a mad scramble to recover any money whatsoever that our convicted Google stardom dreaming leader John Rogers pissed away," a tipster tells us. One of those assets was Pay By Touch subsidiary ATM Direct, a business Alex Muse and other Texas investors were hoping to acquire. But that didn't happen. To explain why, Muse wrote a post to his Texas Startup Blog. It's critical of Pay By Touch. Critical enough that Pay By Touch chief Thomas Lumsden threatened Muse with a lawsuit if he didn't remove it. Below, we've reposted the whole thing. More »
pay by touch
Who stands to lose if Pay By Touch shuts down
These court documents show who stands to lose the most if Pay By Touch shuts down, besides its already ill-fated hundreds of employees. We like to think of corporations scheming to screw over the little guy. But Pay By Touch's bankruptcy filing shows us this: They spend just as much time trying to screw over the big guys. Big guys like Verizon ($135,000) and Oracle ($111,000). More »
bankruptcy
Creditors attempt to block Pay By Touch shutdown
A tipster tells us top management at Pay By Touch, the biometrics payments firm run into the ground by felon John Rogers and now struggling in bankruptcy, has auctioned off its "core assets" in an attempt to pay off creditors. That may not be the case: On Friday, a party of creditors filed a restraining order with a court in Los Angeles to prevent management from "shutting down the operations of Pay By Touch Payment Solutions" — its main business. A shutdown, presumably, would only come after a failed attempt to sell the operation. How touching that someone still wants Pay By Touch to stay in business.
Pay By Touch tries free beer
Pay By Touch laid off 250 employees last fall and now it needs a $150 million investment to survive. So what's the company to do?
Pay By Touch laid off 250 employees last fall and now it needs a $150 million investment to survive. So what's the company to do?
rumormonger
Scandalous ex-CEO's mom to leave Pay By Touch
Remember John Rogers, the former CEO of Pay By Touch? He's morally and financially bankrupt. He's a once-convicted felon with addiction problems and a taste for threatening strangers and lovers alike. Rogers is, in other words, the type of guy only a mother could love. But now, even she's had it. Though Rogers remains on Pay By Touch's board, his mother, Judy Nelson, is out as Pay By Touch HR head, marking the end of a controversial tenure. More »
deathwatch
Pay By Touch wants to raise $150 million next year
In a shareholders' conference call yesterday, Pay By Touch CFO Robert Sigler told investors the company plans to raise $150 million in 2008. This after Pay By Touch management has already burned through over $300 million since its founding and cost some 250 jobs just this fall. Tell you what, I hope Sigler and returning COO Eula Adams find their investors. Beause whoever they are, maybe I can find something to sell them, too. (Photo of the Brooklyn Bridge by absolutwade)
deathwatch
Pay By Touch's $50,000 internal investigation came up empty
Eula Adams, who's returned to trouble payments company Pay By Touch as its COO, said during a conference call for investors today that at least two independent investigations into alleged illegal acts by officers of the company came up empty:When issues were raised, we spent $50,000 hiring a firm to interview people and try to determine whether allegations were valid or invalid. And we were prepared to take action.Nothing turned up, claimed Adams. A surprising outcome, considering what we've heard about the company and the man who ran it. More »
confirmed
Pay By Touch "took out" 90 employees since Thanksgiving
Failing biometrics company Pay By Touch has shed 250 employees in the last "couple months," COO Eula Adams said on a call for shareholders today. Of that 250, Adams said new management "took out" 90 employees in the last couple of weeks. The cuts came to "non-core" Pay By Touch initiatives in "healthcare, online, government," Adams said. More »
john rogers
Bankrupt founder to stay on Pay By Touch board
The financially and morally bankrupt John Rogers remains involved with the company he founded, Pay By Touch employees learned during an all-hands meeting Friday. Though the company no longer employs the once-convicted felon and confirmed bully, Rogers will remain on the board of directors. How could this be? More »
deathwatch
Pay By Touch entering Chapter 11, selling subsidiaries
Failed biometrics payments firm Pay By Touch has filed voluntarily for Chapter 11 bankruptcy and will sell subsidiaries ATM Direct and CardSystems, employees learned during an all-hands on Friday. During the meeting, Pay By Touch COO Eula Adams asked employees to remain positive. Then he virtually assured that wouldn't happen by explaining the company's payroll situation. More »
acquisitions
Freefalling VeriFone to acquire Pay By Touch?
VeriFone, a maker of credit-card readers, wants to acquire biometric payments firm Pay By Touch, according to Pay By Touch court filings obtained by BusinessWeek. Or at least VeriFone at one time expressed in interest in such a deal. But that was probably before December 3, when the company announced it would restate earnings, citing inventory-accounting problems and then watched its share prices drop 46 percent. No deal? That would be a shame. A company that can't count its inventory buying a company that can't pay for its inventory. Sounds like a perfect match.
deathwatch
A Pay By Touch supplier's tale of woe
Michael Barnes, the president of NorhTec, a computer hardware maker, says he's been royally stiffed by Pay By Touch, the troubled biometrics company now under court supervision. Stiffed to the tune of $3 million in promised orders, including more than half a million dollars in unpaid shipments. Former Pay By Touch CEO John Rogers left behind not just 750 angry employees with jobs on the line, and investors whose $300 million in funding looks unlikely to return much. To that list of aggrieved parties add suppliers like Barnes, who filled orders for the failing company but say they haven't been paid. Perversely, Barnes is rooting for the company to make a comeback, if only so he'll have a chance of getting what he's owed. Here's Barnes's story: More »
john rogers
Pay By Touch founder puts a 4,500 percent markup on company
An ex-employee tell us that before his departure, former Pay By Touch CEO John Rogers shopped the company around to investors for $5 a share. (The company isn't publicly traded, but has issued shares to investors and employees.) It didn't seem like much until I took a closer look at Rogers's bankruptcy filling — specifically item 10 on page 21. More »
john rogers
