Posted By:
MWCarew4me,
I guess we haven't been reading the same financial statements and quarterly reports. Just a few minutes ago, I took a look at CU's Income Statements, Balance Sheets, and Cash Flow Statements from the last six quarters and I plainly saw net losses in five of those quarters. In the last two quarterly reports, I have also read language that CLEARLY indicates that PSA is one of the weakest links in the company and that significant decreases have been seen in PSA submissions.
On a hobby-related level, I don't think there's any questions that scores of hobbyists and dealers have become disillusioned with PSA and have either switched to one of its competitors or greatly curtailed their submissions -- all of which is clearly supported by CU's financial statements.
On a personal level, I can tell you that I'm no longer comfortable bidding on PSA graded cards on eBay for fear that I'm going to end up with one of the many thousands of resealed holders. PSA has yet to make their holders more secure and frankly, it's just not worth the risk. I know that my customers don't want overgraded or altered PSA cards and I don't either.