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Prepared for August 23, 2000 edition of U.S. 1 Newspaper. All
In a deal announced this Tuesday, August 22, Princeton’s
entry into the online bill paying service (www.Paytrust.com), will
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
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."
E-10, Princeton 08540. Ed McLaughlin, chief executive officer.
fax, 609-720-1819. Home page: www.paytrust.com.
08540. Curt Welling, CEO. 609-924-1244; fax, 609-606-3297.
Curt Welling has replaced Princeton eCom founder Donald Licciardello
as CEO. Welling was president and chief executive of SG Cowen
Corp. and executive vice president of SG Americas — both owned
by Paris-based Societe General bank. Ronald Averett remains as
and Licciardello is chairman of the board.
Princeton eCom does remote banking and processes electronic payments
for bank clients.
After four years Consumer & Electronics Warehouse
was evicted on Thursday, August 17, by Gale & Wentworth from its
store at 135 Village Boulevard in Princeton Forrestal Village. The
state division of consumer affairs obtained a court order that same
day so that it can search for documents pertinent to a consumer fraud
investigation that results from more than 125 complaints received
since November, 1997.
With the attorney general’s office, the consumer affairs division
filed an 11-count complaint in Middlesex County Superior Court.
18 cases involving eight individuals were also filed in Plainsboro
advisor with Mathtech Inc. at the Carnegie Center and a member of
the Trenton school board.
at Dow Jones and Co.
hypertension drug Capoten, he was a fellow at Bristol-Myers Squibb
Pharmaceutical Research Institute.
the David Sarnoff Research Center.
control with CNA on Cornwall Road.
at Princeton Plasma Physics Laboratory.
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