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(Gizmodo)   Technology development firm for CitiBike files for bankruptcy, according to company spokes person   (gizmodo.com ) divider line
    More: Fail, bankruptcy, Montreal Gazette  
•       •       •

1108 clicks; posted to Business » on 21 Jan 2014 at 9:54 AM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



31 Comments   (+0 »)
   
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2014-01-21 11:05:03 AM  
Which set of mod manboobs do you have to tittie fark to get a green light without a comment?
 
2014-01-21 11:06:06 AM  
How does a company that loans out bikes get. $100M in debt?
 
2014-01-21 11:16:25 AM  
I'm gonna go with "loaning out bikes."
 
2014-01-21 11:29:01 AM  
They don't loan out the bikes, they provide software. (The article only specifically mentions "back-end" software, but it could be "all software", it doesn't say)
 
2014-01-21 12:00:36 PM  
I think they also build the hardware (from stations to bikes) and there's a pretty big outlay ahead of any rollout, especially in NYC.
 
2014-01-21 12:14:15 PM  
Well subby.. I just wanted to let you know that *I* saw what you did there.. and I approve.
 
2014-01-21 12:42:35 PM  
Went under because the cities were withholding payments. Cities were withholding payments because of a claim that the software wasn't working as intended/sold.

City can't go bankrupt easily. Company can.

City just waits out company on possibly BS claims, and voila, you don't have to pay?
 
2014-01-21 12:49:40 PM  

lelio: How does a company that loans out bikes get. $100M in debt?


Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.  The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.
 
2014-01-21 02:00:19 PM  

Skunkwolf: Went under because the cities were withholding payments. Cities were withholding payments because of a claim that the software wasn't working as intended/sold.

City can't go bankrupt easily. Company can.

City just waits out company on possibly BS claims, and voila, you don't have to pay?


It is a tried and true way for large business and local governments to screw smaller businesses. Some of my worst accounts when I was working in the hazwaste disposal industry were really large multinationals, and city and county governments.

The feds and a lot of small businesses were awesome. Feds paid on the spot with the government credit card, and a lot of small business clients (repair and body shops especially) would either write you a check right there or pay in cash.
 
2014-01-21 02:26:34 PM  
+1 Subs.
 
2014-01-21 03:56:14 PM  
Yeah, they just couldn't peddle their bikes fast enough, and the governor started yanking their chain. Pretty soon they got tired and ditched to the bar, now their management is on the psyche list.
 
2014-01-21 04:04:41 PM  

brandent: lelio: How does a company that loans out bikes get. $100M in debt?

Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.   The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.


Wut?
 
2014-01-21 05:01:52 PM  

Moopy Mac: brandent: lelio: How does a company that loans out bikes get. $100M in debt?

Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.   The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.

Wut?


Um, he said that the sidewalks were to crowded with people walking to ride a bike on them.  What's the confusion?
 
2014-01-21 05:34:40 PM  
I think they do the Divvy bikes in Chicago too. What a surprise, Renting bikes in Canada and Chicago, where it's below freezing half the year, is a bad idea. Who knew.
 
2014-01-21 05:36:23 PM  

abhorrent1: I think they do the Divvy bikes in Chicago too. What a surprise, Renting bikes in Canada and Chicago, where it's below freezing half the year, is a bad idea. Who knew.


WTF am I typing?

/you know what I mean
//poor punctuation aside
 
2014-01-21 05:51:27 PM  

Geotpf: Um, he said that the sidewalks were to crowded with people walking to ride a bike on them.  What's the confusion?


Yeah me too.
 
2014-01-21 06:01:56 PM  

brandent: Geotpf: Um, he said that the sidewalks were to crowded with people walking to ride a bike on them.  What's the confusion?

Yeah me too.


So ride in the street. Don't most places have a law that only people up to 12 years-old can ride on the sidewalk? Pretty sure they do in Illinois. Could be wrong.
 
DB
2014-01-21 06:26:01 PM  

brandent: lelio: How does a company that loans out bikes get. $100M in debt?

Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.  The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.


It is illegal to ride a bike on the sidewalk. People ride them in the street.  A lot of people. And virtually no one has been seriously hurt.
 
2014-01-21 06:29:35 PM  

brandent: lelio: How does a company that loans out bikes get. $100M in debt?

Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.  The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.


NY has some of the best bike infrastructure in the country.
(not THE best but ahead of many many places)
 
2014-01-21 07:46:50 PM  

Geotpf: Moopy Mac: brandent: lelio: How does a company that loans out bikes get. $100M in debt?

Twice apparently.  Sounds like they got bailed out once already.

They seem interesting but when I was in NY last fall I didn't see a single user of these things.   The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.

Wut?

Um, he said that the sidewalks were to crowded with people walking to ride a bike on them.  What's the confusion?


1) People don't ride their bikes on the sidewalk in NYC.  How crowded they are is inconsequential.

2) Citibike is enormously popular.

That's the confusion.
 
2014-01-21 07:48:41 PM  

brandent: Geotpf: Um, he said that the sidewalks were to crowded with people walking to ride a bike on them.  What's the confusion?

Yeah me too.


So how was Staten Island?
 
2014-01-21 08:46:54 PM  

Nemo's Brother: Which set of mod manboobs do you have to tittie fark to get a green light without a comment?


You know how I know you didn't get the joke?

Let me know if you need help.
 
2014-01-21 11:31:43 PM  
Just like Citi to get yet another bailout.
 
2014-01-22 12:29:34 AM  

Principal Clarinet: Nemo's Brother: Which set of mod manboobs do you have to tittie fark to get a green light without a comment?

You know how I know you didn't get the joke?

Let me know if you need help.


Ha Ha Spoke. Bike. Ha Ha My question remains.
 
2014-01-22 12:34:03 AM  
When they set it up as a nonprofit, they damned sure meant it.
 
2014-01-22 01:44:12 AM  
If you ship (or, in their case, don't ship) crappy software and break your contractual obligations, expect your customers to exercise their contractual options to withhold payment until services have actually been rendered. Suck at it long enough, and you go broke.

I wish my company would figure this out. They're too busy pushing the "sell, sell, sell" mantra, heedless of the hastily-coded manure we're pitching at customers.
 
2014-01-22 08:31:41 AM  
Dear knowing NYC resident,

Why are all the seats on the bikes in TFA picture mounted backwards?

Thanks,

confused and scared in Omaha
 
2014-01-22 08:39:39 AM  

FormlessOne: If you ship (or, in their case, don't ship) crappy software and break your contractual obligations, expect your customers to exercise their contractual options to withhold payment until services have actually been rendered. Suck at it long enough, and you go broke.

I wish my company would figure this out. They're too busy pushing the "sell, sell, sell" mantra, heedless of the hastily-coded manure we're pitching at customers.


From a "been there, done that, get off my lawn" guy:

Change jobs as soon as you can, before you're forced to do so without notice.
 
2014-01-22 06:46:50 PM  

fatbear: Dear knowing NYC resident,

Why are all the seats on the bikes in TFA picture mounted backwards?

Thanks,

confused and scared in Omaha


Seats are mounted backwards if the bike is busted.
 
2014-01-22 06:54:59 PM  
From the article, sounds more like bad business than being screwed over by the states.

Relevant parts from FTA:

Montreal Gazette, Bixi owes $29 million to the city of Montreal, which controls the nonprofit, and $8.3 million to its suppliers.
...
this new wrinkle stems from a January 15th letter from the city, demanding that Bixi repay a debt
...
New York City reportedly owes Bixi $3 million, while Chicago owes $2.6 million.


The software itself, from what I've seen, is pretty crappy.  I watched one of the techs reboot a station once, and it took about 20 minutes to come back up.  In addition, half the time you return a bike, the light doesn't turn green, but the bike locks, so you hope it is accepted.
 
2014-01-22 06:56:46 PM  

brandent: They seem interesting but when I was in NY last fall I didn't see a single user of these things.  The sidewalks are too crowded and you shouldn't ride bikes on sidewalks anyway, and the streets are just too dangerous.  I'm not sure where someone is supposed to ride them.


I ride them at least twice a day (to and from work).  Sometimes if I have a client in the area to visit, I ride it then too.  It is a lot of fun.  The only time I regretted going by bike was last night, where I was determined to see how well I can do in the snow.  I never realized how much effort is actually required to push a bike through 2 inches of snow.  I only fell twice though!
 
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