Intuit's extortion practices

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Boing Boing reports the money extortion practices of Intuit -- which apparently is confident that Quicken 2005 is so good that people will flock in droves to buy it -- is disabling features in Quicken 2002 and threatening banks to prevent data transfer between versions if they don't pay a big license fee to a brand new format.

I find it a compelling example of why it is bad to store your data in a proprietary format. If I were a client of Intuit, I would right now be actively searching for a replacement of all their software to dump them for good.

A while ago, the blogosphere bragged about Kryptonite. I wonder if Intuit's cosmos will have a similar effect on the company disastrous business practices.