Thursday, August 30, 2007

Some Encouraging Seat Changes at Visa Inc.® (commentary:, via AP news item)

Although it will be a small milage change in commuting to his new job, also in San Francisco, according to AP, Byron Pollitt, Gap Inc.'s chief financial officer is transitioning to a new job as Visa Inc's® CFO.

This is big new and something that boasts encouragement that the world's largest credit card association is preparing to shift its strategy and better embrace and work with its merchant customers. Pollitt, as with all retailing and other executives should best understand the unfair merchant interchange fees and how the fees should be cost-based while enbracing comptition.

In his new role as CFO at Visa Inc., which is a defendant in our interchange litigation, Pollitt's financial knowledge from our prospective as a retailer will be helpful in forcing Visa to shift direction. Hopefully, he will also help us demand that their antitrust price-fixing acquisitions be addressed and quickly resolved.