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Price-Fixing Settlement Checks in the Mail
toastyman writes "Remember the Music Industry $67m settlement from way back in 2002? Seven months later than planned, your $13.86 check is finally on its way. In addition to the cash settlement, the defendants in the suit are also giving 5.6 million CD's to educational programs."
Give our HUGE check to the woman fighting the RIAA, that would be good :)
**It runs through my veins like radioactive rubber pants! Do not deny my veins!**
the defendants in the suit are also giving 5.6 million CD's to educational programs.
I bet these will be the first CDs to sport the New & Improved FBI Anti-Piracy Seal
Jokes aside, the story doesn't quote the exact number of people getting cheques ("More than three millions") so I'll err to averages that 3.5 millions people will get $13.86. That's $48,510,000. Who gets the other $18,490,000? The lawyers.
Another nit to pick is that they'll be giving out 5.6 million CDs. big deal, they can write that off in the accounting office. What they'll donate are discs that are sitting in warehouses because of poor sales. After all, a write off is better than dumping them in a landfill.
The recording industry isn't taking a bit hit on this by any stretch, the only ones to profit are the lawyers.
Trolling is a art,
In addition to the cash settlement, the defendants in the suit are also giving 5.6 million CD's to educational programs."
Why not sell those 5.6 million cds and give the profit to educational programs instead?
Not everything is analogous to cars. Car analogies rarely work.
Wow. That $13 totally makes up for the price-fixing on my existing 800 CD's for which I spent about $13,000 on - and we're totally even. I feel so much better now, because I'm sure that the price fixing only caused me to be over charged by about two cents per $16+ compact disc.
So I guess this would explain the state of school systems and education in general.
"OK kids, for next week you need to write a 2 page report on the latest 'Britney' CD."
Pointless.
You're assuming everyone that joined the class actually bought a CD during that time. While statistically probably that the majority did, since no proof of purchase was required, we can safely assume there are at least a few people who hadn't bought anything but signed up for the free money.
How misleading.
You say the prices have been fixed, but the local Sam Goody still has eveything at $14 and up!
*sigh*
So I guess this would explain the state of school systems and education in general.
"OK kids, for next week you need to write a 2 page report on the latest 'Britney' CD."
You do know that the RIAA also sells classical music, audiobooks, educational children's songs, discs that teach you how to learn to speak a foreign language, and all sorts of other material than the latest pop music, right?
Maybe if your education and purchasing habits were broader and deeper, you'd know these things and appreciate that there actually is a wealth of material that the RIAA could donate to schools.
(Of course, I'll bet you that it's still a slap on the wrist because the value of the discs for purposes of the settlement is probably the value they sell them for instead of make them for, but I digress.)
If it's for-profit but free, you're not the customer -- you're the product (e.g., the Slashdot Beta's "audience").
But what makes you think that you are entitled to anything? Why isn't this a fine levied by the government?
I bought an assload of CDs in the 90s. But it was all my choice - I saw a CD, looked at the price, and made a conscious decision that I was willing to part with $15.99 to buy it. I could have just as easily decided that it was too much, and that maybe, just maybe, I can actually live without it.
I bought about 200 CDs during the time when they were convicted for price fixing and over charging by up to $5 per CD. So, having been robbed of $1,000 in late 1990's dollars, I am offered $13.86 in 2004 dollars. Woo fucking hoo.
No, I did not sign up for the lawsuit as I correctly assumed it would be a waste of my time and they would probably just sell my personal info for a profit.
Now that they have been convicted, perhaps it would be a simple matter to sue and win in small claims court? Any lawyers out there?
If we have to sue corporations as citizens because our law enforcement turns a blind eye, so be it.
I agree with that. It's just too bad that the people who are actually passionate about the cause are (more than likely) well-outnumbered by the people who simply see this as Free Money.
I have over 500 cds and easily 1000 records..
how does the cost of ONE cd make up for what i was screwed out of over the years?
Oh, i wasn't one that signed the petition either... i *never* agreed to that ludicrous of a settlement. ( notice cd prices haven't dropped since then.. )
---- Booth was a patriot ----