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Prepared for August 23, 2000 edition of U.S. 1 Newspaper. All
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Paytrust’s Merger
In a deal announced this Tuesday, August 22, Princeton’s
entry into the online bill paying service (www.Paytrust.com), will
merge
with its California-based competitor (www.PayMyBills.com).
The two companies both started out in 1999 but Paytrust took the lead
with an announcement in March that it would go public. The new company
will do business as Paytrust, and PayMyBills.com will be its wholly
owned subsidiary. Terms were not disclosed.
Paytrust.com (aka Secure Commerce Services) is headed by Ed
McLaughlin,
a Wharton graduate, Class of 1987, and this is McLaughlin’s third
start-up. PayMyBills.com is headed by John Tedesco, an alumnus of
Fairfield University, Class of 1992, who was one month out of Wharton
Graduate School when he did his launch. He and his co-founder, Jeff
Grass, are expected to stay with the firm. “There has always been
a tremendous amount of respect for each other,” says McLaughlin,
“and we want to rapidly accelerate this space.”
Secure Commerce Services, 29 Emmons Drive, SuiteE-10, Princeton 08540. Ed McLaughlin, chief executive officer.609-720-1818;fax, 609-720-1819. Home page: www.paytrust.com.Top Of PageManagement MovesPrinceton eCom Corporation, 650 College Road,Princeton08540. Curt Welling, CEO. 609-924-1244; fax, 609-606-3297.www.princetonecom.com.Curt Welling has replaced Princeton eCom founder Donald Licciardelloas CEO. Welling was president and chief executive of SG CowenSecuritiesCorp. and executive vice president of SG Americas — both ownedby Paris-based Societe General bank. Ronald Averett remains aspresidentand Licciardello is chairman of the board.Princeton eCom does remote banking and processes electronic paymentsfor bank clients.Top Of PageCEW EvictedAfter four years Consumer & Electronics Warehouse(www.cew.net)was evicted on Thursday, August 17, by Gale & Wentworth from itsretailstore at 135 Village Boulevard in Princeton Forrestal Village. Thestate division of consumer affairs obtained a court order that sameday so that it can search for documents pertinent to a consumer fraudinvestigation that results from more than 125 complaints receivedsince November, 1997.With the attorney general’s office, the consumer affairs divisionfiled an 11-count complaint in Middlesex County Superior Court.Another18 cases involving eight individuals were also filed in PlainsboroMunicipal Court.Top Of PageDeathsStephanie Moyer Avila, 32, on August 13. She was afinancialadvisor with Mathtech Inc. at the Carnegie Center and a member ofthe Trenton school board.Arlene Kronewitter, 64, on August 13. She had worked atPrinceton University.Allen T. Simeone, 55, on August 13. He was a generalmanagerat Dow Jones and Co.David W. Cushman, 60, on August 14. Co-inventor of thehypertension drug Capoten, he was a fellow at Bristol-Myers SquibbPharmaceutical Research Institute.J. Guy Woodward, 85, on August 16. He was a fellow atthe David Sarnoff Research Center.Martin Barratt, 48, on August 16. He was director of losscontrol with CNA on Cornwall Road.George D. Martin, 73, on August 18. He was a seniorengineerat Princeton Plasma Physics Laboratory.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
