SEVEN SINS OF THE MARKETPLACE | Originally broadcast April 3, 2009 on CBC-TV
Seven Sins of the Marketplace Addition Omission Creation Salvation Assurance Persuasion Deception
How not to fall prey to the seven sins of the marketplace
This video player requires Adobe Flash Player 9 
or later to run. Click here to get Flash now!
T
arketplace has seen it all when it comes to bad service, unsafe products and schemes. Over the years, we’ve seen companies come up with all kinds of tricky ways to separate customers from their cash. We call them the seven sins of the marketplace; a list of how companies try to reach into your wallet.
Posted on April 3, 2009 CommentBookmark, Email & Share
Your Comments — Post Your Comment

you are right , when i came to cancel my credit card with mbna master card , they asked me why i wanted to cancel , i told them the intertest rate is too high 28.9% and every time i went over the credit limiy iwas charged 25& . They offered to pay back the 25& they charged every time ,plus lower the interest to 13.9% . I ask why it was not done autaumaticly , they told me they thought i was happy since i didn't complain
share this with the public MOE MAINVILLE

Hello CBC,

I think you commited an eigth sin tonight, the sin of recycling. I guess that's what happens when budgets at CBC get tight. All you have to do is recycle old episodes and in the process, pretend to offer us a new show. I think you've been BUSTED!

Hi Ralph,

I disagree. It was good to see Marketplace compile all their tips together into one episode. I've been a follower of the show since it's revival, and I've forgotten many of the tips that they just reminded me of.

Yours truly,
Brian

Hello,

I hope the budget will not get cut on your program and you will produce more investigative material next seson?
You doing an excellent job. Thanks !!!

Wishing the the Staff of THE MARKETPLACE Happy Easter!!!

Bravo! I love Erica and Wendy!

Your most recent "7 sins" program was good. It reminds us of
the dangers of "wanting things" too quickly. I would recommend people set up a personal system that would act as a guide to prevent impulse buying.

When those forms are brought out, tell them you want to take
them home to read before you sign on the bottom line, just as an example. When it comes to electronics, go to a few competitors and talk about "add ons" first, see what they say. You might find them saying there is no real need to buy a bunch of them...then you are now focusing on what you really want...a new TV.

One more comment...when is the CBC going to do a episode
on the most deceptive industry of all...THE FINANCIAL INDUSTRY. Brokers, advisors, and regulators...

After 3 years, I am calling it a "legalized scam".

If you have had a bad experience, write me a short note
about your experiences.

RBR

It looks like CBC Marketplace committed the sin of REPETITION by simply compiling a bunch of clips from previous episodes and packaging it as a "new" one.

I think Goodlife wouldn't be an excellent example to do on this topic. I went in there to use a three day trial membership and was roped into all of these add ons. Plus, trying to cancel your membership is ridiculous. You can't just go in with your card and cancel. You have to make an appointment with one of the managers who conveniently works part-time (not Saturdays) and they try to convince you that it would be a bad idea to cancel. This place is a joke!

I watched the TV with the closed captions then I check the website and find no closed captions included. I think you're decepted me?

Hi Marketplace,
I think we need shows like yours to keep people on thier toes. It's great that you are Canadians with Canadian issues. So much of what we see on TV is American and doesn't apply to us here in Canada.
Keep on bustings the big guys and helping the little guys. For always for doing the right thing for the underdog.
thanks
Donna

Hello CBC and staff of Marketplace,
I think your show is just wonderful. Although I live in Japan, I find myself phoning or writing letters home to my parents in Toronto after catching your show on the net to worn them of the scams, and to ask them to watch Marketplace too.
I sincerely hope you'll keep up your great work.
Thanks!

Most of us are aware of the scam-line that offers us a large jackpot winning if we first submit a processing fee. This concept has expended into 'Buy this item and receive that one for free'. Expand the concept further any we get 'loyalty points' such as Air Miles, etc.

This is the deadliest of the Sins of the Marketplace.

Why not get lower, honest prices and proper customer service, instead?

How about the mega marketplace sins? The sin of "bailout"? We're all getting ripped off on that one. Or the sin of "stimulus". Oh wait, that's a govt driven rip off.

I've asked Marketplace to do a story on the ear-bleeding noise levels at sporting events.As a musician, my husband has already sustained hearing loss. Even though he always takes earplugs with him, he found the noise level of music pumping at a Montreal Canadiens game last year to be unbearable. Ditto a recent basketball game in Toronto. Needless to say, young people at these events were not wearing ear protection. Who decides that dangerous volume equates with a good time? What's wrong with being able to hear the crack of a bat, or the dribble of a ball, or the sliding of a puck? These should be the sounds we can hear but they're drowned out by violently loud music. Why isn't the Canadian Hearing Society taking action? If public events were found to be damaging people's eyesight, they would be stopped. Why is hearing considered so unimportant?

I watched the show on the 7 deadly sins and I fell prey to one of them. About 4 years ago I got a knock at the door saying I could get my main gas supplied by another company locked in just in case Hydro rates went up.
They even told me how much it raised in the past years and how much others saved. Seemed reasonable. Always hearing of rate increases in the paper.
After watching you show. It seems I looked at my latest bill. I locked in for 38 cents a cubic meter and they were nice enough to tell me that Hydro current rate is only 27 cents. Then they were nice enough to admit that in fact I had a year left on my contract before I could cancel. They were even more helpful by telling me that in fact in the past 4 years Hydro rate for gas has not gone higher then the 38 cents I locked in at. So I have always been paying more for the gas then what I could have gotten it from Hydro.

Sin of addition,
I do know you could have bought those hdmi cables cheaper and got the same thing. You failed to mention if you could actually use soap or windex on an LCD or Plasma tv so was that needed or was it just a money grab?
I see you showed Best Buy and Future Shop both owned by the same people by the way. I have bought lots from Best Buy and I don't care what anyone says. They service plan is the best. I have had items I bought the plan for...from quality manufactures go bad and they honored the plan in full. They couldn't fix it so I got my money back less taxes and cost of the plan as they said they would do.
Michael Bard.

In the 'Sin Of Omission' section, the Tip Sheet states that "many contracts have a 10-30 cooling off period". This isn't true in all provinces, nor does it seem to be applicable on "many contracts". Legislation in Ontario only provides 10 days on gym memberships, and contracts signed in your home. For example, car purchases & cellphone contracts DO NOT have a cooling off period.

Source:
www.gov.on.ca/mgs/en/ConsProt/STEL02_045922.html

I think Market place is a magnificent show, but have to agree
with some regarding the "greatest hits" episode collection not being the most favored cup of tea. I don't see any previews for next week. Here's hoping new episodes are up ahead. Thanks Marketplace.

Re:

It looks like CBC Marketplace committed the sin of REPETITION by simply compiling a bunch of clips from previous episodes and packaging it as a "new" one.
Posted by Jarred on April 4, 2009 01:31 PM


Jarred you've committed the sin of INSULT. Keeps your negative comments to yourself. ;)

Marketplace is fortunate to consult lawyers and expert. Most consumers cannot afford a lawyer at $200/hour lawyer. Marketplace could also investigate Lawyers, Private investigators, and Home inspectors. It seems some professional over charge and will milk you for money. We heard about car mechanics, and used car salesmen con artist but not much about the professions such as Lawyers who rip people off.

praying on consumer fear? or preying? does this involve God?

if this is published, please do not use my surname, as I wish to remain anonymous.
I went with not one but two Energy Providers! For electricity with Universal Power and natural gas with Direct Energy.
Certainly coerced and manipulated into doing this, to save money as prices were going up. Both bills shot up, electricity nearly tripled. I tried every known way to get assistance from the providers, the OEB, politicians and even had email with Ellen Roseman of the Star. Finally gave up, and paid out nearly 1500.00 to both of them to end the contracts.
I agree that a class action lawsuit should be taken against these providers. As so many of us were scammed, lied to and taken advantage of. They should not be allowed to do business any longer.
Thank you. Eleanor

i'm with the last post about sound at sporting events! the volume levels are excruciating. is there a correlation between deaf sound techs and painful sound levels?? perhaps i should blast my ipod more then it wouldn't bother me.... ;)

You guys have a fantastic show. The only problem I have with it is, it's not on long enough. Your show should be on for an hour every Friday night. With all the cut backs going on, I hope CBC doesn't cut Marketplace. There's not much out there that looks out for the consumer. I really appreciate that Wendy, Erica and all the staff do such a great job "busting" the scum of the earth.
Keep up the great work.
Linda

I must be a junkie! I've seen all the programmes. I appreciated the list of hints for shoppers. I am sorry that the programme length has been reduced so much- from about 26 minutes last season to 21 this year. It makes it difficult to create in-depth studies.
I hope that Marketplace will not be subject to any more cuts. There are very few programmes that help consumers.

I agree with "robt47'. The financial industry is one of the biggest places where people are gettin ripped off and we have to fight like HEll to correct the dumb banks errors (or ones they make on purpose). Its like the banks have no law they HAVE to follow and us citizens are payin the price. I mean we all have the "law" that everyone has to follow, but it seems the banks have figured out ways to duck the "law" under the "fine print". CBC do a report on this issue and if the Banks dont want to disclose information, then its PROOF they are hidin behind their "fine print".

A friend of mine is with a group Called FHTM (Fortune Hi tech marketing). I was wondering if this is a pyramid scheme?

Hmmm. Interesting that you left out the most compelling sin of the marketplace, and the one that makes the others possible: GREED! Without consumerism (yes, the buyers aren't without fault) there would be no motivation for these other sins.

When the show is repeated but does not have a "previously aired" on the screen, most idealy during the whole show, and at least starting from the very second the show starts (as opposed to what has happened, about 1 minute into the show,for the purpose of misleading)it is sin of ommision.

I think the shows are great and it's wonderful that the videos are posted online. I was out of the country for the last 3 months with limited internet access and just watched the last 6 episodes all this evening.

It's unfortunate however that you don't have a larger team and/or continue investigating year round.

Keep up the good work though :)

sears is advertising 'flavorwave turbo' do we you know anything about this product and is it worth$130
love your show should be 1 hour it is the best on tv
keep up the wonderful work you do thank you wendy, erica and the staff have a wonderful year marie

I find it hard to understand why stores do not have to show the "final" price. the omission of taxes from the final price is misleading!

I am prompted to write after reading posts on the dangerous levels of music at public functions. I recently attended a concert in an arena, the musicians a popular country band. I expected the music to be deafening and came prepared with earplugs. However NOTHING prepared me for the assault I faced. The volume was so incredibly loud that my body was literally hit by the sound waves. Even the earplugs did not help protect my ears and I was forced to leave. Is there no regulation in place to protect the public. Hearing damage can occur very quickly and can be permanent. I would LOVE to see a show on this topic. As for me, I will never submit my body to an assault like that again and as before, now limit myself to lovely small venus that care to have their patrons return.

Your program on Universal Energy was so true! Their agent took the bill out of my parent's mailbox and forged the signature on a contract. When this was proven to them they were defensive and non-apologetic. The Ontario Energy Board was useless too....

Seven Sins of the Marketplace - Some good practical advice to be aware of. Thanks! However, my only concern is the use of the terminology used ie. sins of omission, creation, salvation, assurance and persuasion. It almost sounds like these terms are used in a negative way in regards to Christianity. Not a good idea.
Gary

Hello,

I was also a victim of Universal Energy,and I had to pay a $470.00 penalty to cancel the contract..small price considering my electricity bills were double what my neighbors were with Ottawa Hydro.Thank you for the show, I was glad to know I wasn't the only "sucker" out there.Never again..

SEVEN SINS; the RENO RIP-OFF
IT WOULD BE QUITE APPROPRIATE TO GIVE THE FOOTAGE OF THE MAN GOING THROUGH A STOP SIGN WITHOUT PAUSING TO THE POLICE, SO THEY CAN DO THE APPROPRIATE THING, WITH VIDEO SUPPORT?

I would say that would be very satisfying to the customers who lost so much, and we need to be good citizens and ensure that dangerous drivers are...... let's say, paying the price?!
Hope to hear about that follow-up angle, IF ONE OFFICER DIDN'T CATCH ON AND ALREADY DID IT.

Four Gemini Award nominationsOur brand new season begins January 8, 2010
Please check your local listings for repeat airtimes
Share Your Story  Email marketplace@cbc.ca
· Had trouble paying your mortgage? Is it coming up for renewal or are you thinking of getting a new one? If so, Marketplace wants to hear from you!
· Are you about to start a diet with a commercial weight loss clinic? If so, Marketplace wants to hear from you!
TV IconRecent Episodes
Seven Sins of the Marketplace Seven Sins of the Marketplace: Wendy Mesley and Erica Johnson reveal seven secret signs to watch for so you don't get ripped off.    Comments 37
The Price Cut Promise The Price Cut Promise: Erica Johnson cuts to the chase about cut-rate deals on furniture and appliances. The offer may be discount goods during bleak times, but Marketplace reveals high-pressure sales and high extra costs with plenty of strings attached.   Comments 228
Power of Persuasion Power of Persuasion: Wendy Mesley investigates the tactics used by door-to-door energy sales people, and reveals the truth they don’t tell you when it comes to your bills and their companies.   Comments 320
Lawless Loans Lawless Loans: As big banks crack-down on credit, loads of loan companies are popping up on the internet. Seems anyone gets approved. And as Erica Johnson reveals, seems everyone gets ripped off.   Comments 40
How Not to Buy a Puppy How Not to Buy a Puppy: How much do you know about that puppy in the window? As Wendy Mesley reports, some store-bought puppies may have a sick and secret history.   Comments 198
The Trouble with Fake Guns The Trouble with Fake Guns: Erica Johnson examines the growing menace of imitation handguns — BB guns and pellet guns that are made to look just like the real thing.   Comments 112
Credit Card Catch Credit Card Catch: Credit balance insurance promises to protect you against unexpected crises, like job loss, but is it worth the cost? Wendy Mesley investigates.   Comments 102
How Not To Win $500,000 How Not To Win $500,000: Erica Johnson reveals how a sweepstakes offer to win big money from Reader's Digest magazine may end up costing some people thousands of dollars.   Comments 131
Easy Money Easy Money: Wendy Mesley investigates a Canadian get-rich-quick scheme.   Comments 243
Miracle Makers or Money Takers? Miracle Makers or Money Takers?: Erica Johnson tests a $20,000 machine that promises to fight disease – and questions its controversial inventor.   Comments 184
Generation Cellphone Generation Cellphone: Wendy Mesley reveals new evidence about possible health risks facing the newest generation of cellphone users: children   Comments 71
The Secret History of Cars The Secret History of Cars: Erica Johnson cracks open the secret history of used cars with a test that uncovers shocking holes in car history databases.   Comments 62
New Home Nightmares New Home Nightmares: Wendy Mesley teams with Mike Holmes to investigate what goes wrong when brand new homes fall apart.   Comments 138
Busted
Who gets Busted?
Find out every week on Marketplace
BulletHow safe are tables made with glass?
BulletCan you cash a cheque with a stop payment on it?
BulletAre higher SPF sunscreens more effective and worth the extra bucks?
BulletWhat's behind the big makeover for so many Canadian cigarettes?
BulletWhen a product is recalled, can you get your money back?
BulletAre car rental companies creating surcharges to boost their bottom line?
BulletWhen your bank card is skimmed, can you find out where it happened?
BulletCan you get Tamiflu without a prescription?
BulletBrain food or slick marketing?
BulletAre these restaurant meals really healthy, low-sodium choices?
BulletIs there now less sugar in kids' cereal bowls?
Bullet Do stores live up to their code when the price is wrong?