PSA Response from President Steve Sloan

[sportscardtheory]

Originally Posted by Peter_Spaeth

No argument here. I don't see anyone defending PWCC at this point, and I truly do not understand the defense of PSA's statement pushing burden back on to the collector, minimizing the issue, and disowning the full scope of the guarantee. I get it of course from a corporate standpoint. Not an ethical one.

Honestly, I don't even get it from a corporate standpoint. From a business standpoint, it makes zero sense to continue to damage your reputation with those who supply your profits. A smart business decision would be to immediately bite the bullet to regain consumer confidence. They aren't thinking long term, and that is bad business and shows me those in charge over there aren't very bright. If I had stock in PSA, it would be gone before it gets much worse. PWCC is signing their own death warrant. Even if getting through this costs them a couple million, it would benefit them greatly to be proactive and helpful. But they are clearly digging in, and that is bad news for anyone with stock or with investments in their graded cards.

[Peter_Spaeth]

Originally Posted by sportscardtheory

Honestly, I don't even get it from a corporate standpoint. From a business standpoint, it makes zero sense to continue to damage your reputation with those who supply your profits. A smart business decision would be to immediately bite the bullet to regain consumer confidence. They aren't thinking long term, and that is bad business and shows me those in charge over there aren't very bright. If I had stock in PSA, it would be gone before it gets much worse. PWCC is signing their own death warrant. Even if getting through this costs them a couple million, it would benefit them greatly to be proactive and helpful. But they are clearly digging in, and that is bad news for anyone with stock or with investments in their graded cards.

I think their experience tells them all scandals blow over so preserve the bottom line.

[sportscardtheory]

Originally Posted by Peter_Spaeth

I think their experience tells them all scandals blow over so preserve the bottom line.

Well then I hope it backfires on them.

[sportscardtheory]

At this point, I would feel better with a TPG that ONLY slabs unaltered cards and does not do numerical grades. So their only focus is spotting fakes and alterations while using the best possible slabbing techniques and tech to keep cards safe. PSA and BGS are done, IMO. I love the BGS slabs, but they slab sheet cuts and can't spot alterations. I hate PSA slabs and they can't spot alterations. SGC slabs are ugly and flimsy. So now what?

[Peter_Spaeth]

Originally Posted by sportscardtheory

At this point, I would feel better with a TPG that ONLY slabs unaltered cards and does not do numerical grades. So their only focus is spotting fakes and alterations while using the best possible slabbing techniques and tech to keep cards safe. PSA and BGS are done, IMO. I love the BGS slabs, but they slab sheet cuts and can't spot alterations. I hate PSA slabs and they can't spot alterations. SGC slabs are ugly and flimsy. So now what?

You may have to bust wax, John.