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<< Didn't Federated learn from the fingerhut fiasco? Does one part of Federated talk to the other? With margins being so thin a debacle like this could really hurt. >>

As a former employee in the Federated Credit department, I have read many very perceptive comments about the bad judgement and lack of concern for employee retention.

And as one whom has tried to collect from customers who reside in Puerto Rico (not only for Macy's, but Burdines too), let me first say that many of them want to pay and are very honorable. But as has been said already, if they want to hide their will eventually be written-off as bad debt. The only harder customers to locate are in Hatti.

I understand the reasoning behind some of the decisions. Some are better founded than you might think. Yet others make no earthly sense at all!

In short, Federated is not the worst company. But if the management doesn't begin to respect employee input and if it doesn't learn to value its employees as assets, it will wind up back in bankruptsy. Perhaps this time for good.
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