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Overhype

by Mike Masnick

Fri, Feb 20th 2004 9:55am





State AGs Rejoice Over CD Refund Publicity Opportunity

from the go-buy-half-a-CD dept

It's been well over a year since the recording industry had to collect names to refund consumers for their CD price-fixing ways. Despite a number of delays, it appears that the money is finally on its way. For all that price fixing, consumers will get a grand total of $13.86, not even the price of a regular CD these days. Interestingly, it appears that every state attorney general came out with their own press release about this, so you can read about how people in Washington, California, Arkansas, Illinois, Ohio, Maryland, Iowa, Tennessee, North Carolina, Idaho and plenty of other states are going to be receiving their $13.86. Hmmm. Think this is a political issue that state politicians want to take credit for? Meanwhile, no one is pointing out that the recording industry used their price fixing schemes to bring in a hell of a lot more than the $67 million they're paying out.

5 Comments | Leave a Comment..


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  1.  

    The Real WInners

    identicon
    Beck, Feb 20th, 2004 @ 10:21am

    Meanwhile, no one is pointing out that the lawyers will split among themselves a payment of $14,000,000 from the settlement fund.

    [ reply to this | link to this | view in thread ]

  2.  

    Meanwhile....

    identicon
    Joe Baderderm, Feb 20th, 2004 @ 11:33am

    ...I'm going to keep all the MP3's I downloaded for free off of Kazaa. I think that maks me even with the music industry.

    [ reply to this | link to this | view in thread ]

  3.  

    Wow, I feel vindicated...

    icon
    ConceptJunkie (profile), Feb 22nd, 2004 @ 12:07pm

    According to articles the record companies colluded to overcharge me $5 per CD. If I ever do get that check, it will amount to a little less than 2 cents per CD.

    And, by the way, shouldn't this suit have resulted in lower prices? Naaah, that would make sense.

    [ reply to this | link to this | view in thread ]

  4.  

    No Subject Given

    identicon
    thecaptain, Feb 23rd, 2004 @ 10:32am

    Its simply modern business:

    1) Overcharge and/or rip off your customers
    2) Rake in billions because of #1
    3) get caught, act contrite, strike a deal and pay back a "slap on the wrist" of 64 million bucks
    4) PROFIT!

    Yeah...I'm really thrilled about our politicians and our justice system. Its about the same as charging a serial rapist a 50$ fine.

    [ reply to this | link to this | view in thread ]

  5.  

    Class Action Suits

    identicon
    m0deth, Mar 4th, 2004 @ 9:29am

    And this is why class-action suits only serve the defendants and the lawyers suing them. God forbid each and every person they stole from sue them for arrears.....they'd hafta fire some bigwigs to cover those expenses. Here's the real killer, I'll bet my left nut that this suit also states that they admit no guilt upon settlement, which simply means they paid-off(bribed legally) everyone with a complaint saying they did no wrong, as happens when cases like this are allowed to settle. And this is why prices will never change, and neither will the music industry or the RIAA

    [ reply to this | link to this | view in thread ]


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