NRF continues to blast swipe-fee settlement
The National Retail Federation today formally filed an appeal of the antitrust lawsuit settlement covering credit card swipe fees.
The retail group called on the 2nd U.S. Circuit Court of Appeals to overturn a lower court’s ruling.
The settlement does nothing to reform the price-fixing payments system that has let credit card swipe fees skyrocket over the past decade and nothing to keep them from continuing to soar in the future," said NRF senior VP and general counsel Mallory Duncan in a prepared statement.
"Instead of lowering fees, the card industry’s settlement proposes that merchants pass them along to consumers in the form of surcharges. That is absolutely the opposite of what retailers sought, and major retailers have soundly rejected surcharging."
Surcharging can be seen at certain gas stations, for instance, where credit card purchases are advertised with one rate, and cash purchases have another, lower rate.
Duncan described the settlement as an abuse of the class action system.
“The only people pleased with this settlement are Visa and MasterCard, because it means they can continue collecting tens of billions of dollars in hidden fees; the class action lawyers who stand to collect half a billion dollars in fees without fixing the problem; and a lower court, which has cleared a time-consuming case off its docket, but has done a serious disservice to merchants and the public in the process," Duncan said.
Platinum Tools rolls out the Cyclops 2
Camarillo, Calif.-based Platinum Tools is rolling out the new Cyclops 2 Cable Jacket Stripper.
With an MSRP of $29.95, the Cyclops 2 is designed for data, voice, video, audio, security and other applications.
“The Cyclops 2 takes the guesswork out of removing the cable jackets from many types of twisted pair UTP/STP, multicore (shielded and unshielded), and fiber optic cables,” explained John Phillips, Platinum Tools product manager. “The tool self-adjusts to automatically cut PVC, plenum, and others without damaging the braids, foils, or conductors. The one piece design is ready-to-use right out of the package.”
The Cyclops 2 accepts cable diameters to 0.43 in. (11 mm).
UGL launches Drylok Concrete Toner
Scranton, Pa.-based United Gilsonite Laboratories launched a new concrete toner under the Drylok brand.
UGL’s new Drylok Concrete Tone is designed as a concrete tone coat to even out discolorations, stains and blotches. The company says the product penetrates at an even ratio, eliminating uneven color.
Just like wood decks, concrete slabs that had color added to the mix can fade and dull with age, hence the need for the new product.
The product is available in three colors and a tint base for custom coloring.