07.24.10

The Rise And Fall Of SpongeTech : Dear God, Don’t Let This Happen To Bell Environmental’s Roscoe

Posted in Baseball, The Marketplace at 5:45 pm by

“Every team got caught up with them,” one marketing maven says of former Citi Field signage fixure SpongeTech.com. “If it™s too good to be true, maybe it just is. You saw their product on TV, but I don™t ever remember seeing anyone who actually owned one.  CNBC’s Darren Rovell considers the fate of SpongeTech and suggests franchises should’ve asked, “just how much is your marketing budget anyway and how does that compare to sales?

SpongeTech, the self-dubbed œSmarter Sponge, gained its fame through its infomercial plugs, but in the end, there were too many things that didn™t add up. It led to the SEC filing civil fraud charges against the company and its top two executives, Michael Metter and Steven Moskowitz. The FBI arrested them in May and they were charged with conspiracy to commit securities fraud and obstruction of justice. Metter’s lawyer told reporters that he denies the charges made against him. The public relations e-mail listed on SpongeTech™s Web site bounced back and two lawyers representing the company’s executives did not return calls seeking comment.

On Friday, as part SpongeTech™s bankruptcy filing, more than 100 creditors must declare themselves to the court along with the money that they are owed. A who™s who of sports teams are expected to line up for money they might never receive.

Lawsuits alone have shown us that Madison Square Garden (Knicks, Rangers) is owed $430,880 and the New York Mets received bounced checks totaling  $300,000.

“We are acting to enforce our contractual rights through the courts, a Mets spokesperson told CNBC.

The New York Islanders are waiting for $405,000 and the New York Giants are hoping to recoup the $360,000 they were promised, which includes SpongeTech not paying for its suite food at games. Throw in the Chicago Bears™ lawsuit asking for $260,000 the team is owed and SpongeTech owes $1.4 million from just six teams.

3 Responses to “The Rise And Fall Of SpongeTech : Dear God, Don’t Let This Happen To Bell Environmental’s Roscoe”

  1. Thanks for your concern, but to soothe your fears, I, Roscoe, am a real beagle who inspects for bed bugs with 98% accuracy. I work for a real pest control company, Bell Environmental Services, that has been in business since 1963. Bell Environmental has a reputation for quality and customer service that we work to protect everyday. We serve thousands of customers each year to detect and eliminate their bed bug issues without using pesticides. We are a privately held company and have never had (and will never have) any of the issues that you reference above. We are proud to be a television advertiser during NY Mets and other programming, but do not have a business relationship with the Mets or any sports team or any other business partner that has ever or will ever reflect(ed) the troubles you reference in this post.
    Sincerely,
    Roscoe the Bed Bug Dog
    Canine Inspector
    Bell Environmental Services

  2. GC says:

    never let it be said that Bell Environmental aren’t fiercely protective of their brand. If they’re half as good killing bed bugs are they are promoting Roscoe, there are truly an amazing outfit

  3. Rick Telanger says:

    I’ve used Bell and they are twice as good. Roscoe did a great job.

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