Author Topic: $12.63  (Read 2217 times)

vansmack

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$12.63
« on: June 26, 2003, 09:22:00 am »
Of all the thousands of dollars the price fixing cost me, I'm getting $12.63 back.  Thanks.  Oh well, it's a start....
 
 Judge: Millions of CD buyers owed money
 
 PORTLAND, Maine (AP) --A judge has approved a settlement agreement in a music antitrust lawsuit that will result in more than 3.5 million consumers receiving nearly $13 each.
 
 Judge D. Brock Hornby issued a 51-page ruling Friday in the case that began in 1996 when attorneys general across the country began investigating whether distributors and retailers had conspired to inflate CD prices.
 
 "This settlement will put cash in the hands of millions of consumers and music CDs in libraries and schools throughout the country, and will ensure that the challenged distributor/retailer practices will not resume," Hornby wrote.
 
 Details still to be decided
 The ruling, however, does not stipulate exactly how much consumers will receive or when the checks will be distributed. More than 3.5 million consumers filed claims, now estimated at $12.63 each.
 
 Hornby asked lawyers to present him with a report by the end of the month on how much it will cost to distribute the checks and how much each check will be.
 
 He also deferred ruling on a plan on how millions of CDs will be distributed to the schools and libraries.
 
 The lawsuit, signed by the attorneys general of 43 states and territories and consolidated in Portland in October 2000, accused major record labels and large music retailers facing competition from discounters like Target and Wal-Mart of conspiring to set minimum music prices.
 
 The defendants -- Sony Music Entertainment, EMI Music Distribution, Warner-Elektra-Atlantic Corp., Universal Music Group and Bertelsmann Music Group, and retailers Tower Records, Musicland Stores and Transworld Entertainment -- deny any wrongdoing. Attorneys representing the companies declined to testify in court.
 
 Old settlement disapproved
 Of the total settlement, $75.7 million would be distributed in the form of 5.6 million music CDs sent to libraries and schools throughout the nation.
 
 The proposed cash settlement in the case totals $67.3 million, with roughly $44 million to be distributed to the public. The remaining cash will go toward distribution costs and legal fees.
 
 Hornby disapproved a settlement agreement regarding music club sales that would have been just over $1 million in cash and provided 50 percent discounts for club members on one to three new CDs.
 
 Hornby wrote that virtually all the cash would go to attorney fees, leaving little value to club members. He added that music club defendants have not proven that they were part of any pricing conspiracy.
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da'niceguys

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Re: $12.63
« Reply #1 on: June 26, 2003, 11:24:00 am »
yeah 12.63 isn't much but i will take it from those record companies....it pretty much pisses me off that all the companies got together to rob us , in a very calculated way and now that the consumers have began getting over on them through internet file sharing, which i know is abused by some people but for me i've only used it for the rare covers or things that just aren't available, which was set up as a way to just share between fellow music fans, the companies are filing multithousand dollars suits against teens and college kids.....And they have the balls to wonder why they aren't doing as well as before, because they sux that why....i'm glad i get 90% of my music for free, because record companies dont deserve my money

mankie

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Re: $12.63
« Reply #2 on: June 26, 2003, 11:27:00 am »
Quote
Originally posted by da'niceguys:
 
 
 ...i'm glad i get 90% of my music for free, because record companies dont deserve my money
 
 
Do the artists?

mjnova

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Re: $12.63
« Reply #3 on: June 26, 2003, 11:38:00 am »
Quote
Originally posted by mankie:
   
Quote
Originally posted by da'niceguys:
 
 
 ...i'm glad i get 90% of my music for free, because record companies dont deserve my money
 
 
Do the artists? [/b]
Screw the albums buy the merch.
 
 A band gets what, a couple bucks max from albums, or zip if they still have to recoup expenses.
 
 But they probably getes 30 or 40% of t-shirt sales.  And record labels can't steal money from playing gigs, can they?

kosmo vinyl

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Re: $12.63
« Reply #4 on: June 26, 2003, 11:40:00 am »
Quote
Originally posted by mjnova:
 
 A band gets what, a couple bucks max from albums, or zip if they still have to recoup expenses.
 
 But they probably getes 30 or 40% of t-shirt sales.  And record labels can't steal money from playing gigs, can they?
they can if your name is Robbie Williams...
T.Rex

da'niceguys

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Re: $12.63
« Reply #5 on: June 26, 2003, 11:45:00 am »
artist absolutely deserve my hard earned money, but as pointed out in a following post, bands dont see much of those funds from album sales, and if you'd look in my dresser you'd see a stack of t-shirts....but the company's seem to do everythign in there power to make the bands stay in studios forever getting it right, aka...spending there own earnigns, when its not necessary... see white stripes, i work with record company's (sorta) and they piss me off, face to face and a million miles away in the media land

mjnova

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Re: $12.63
« Reply #6 on: June 26, 2003, 01:22:00 pm »
Quote
Originally posted by da'niceguys:
  artist absolutely deserve my hard earned money, but as pointed out in a following post, bands dont see much of those funds from album sales, and if you'd look in my dresser you'd see a stack of t-shirts....but the company's seem to do everythign in there power to make the bands stay in studios forever getting it right, aka...spending there own earnigns, when its not necessary... see white stripes, i work with record company's (sorta) and they piss me off, face to face and a million miles away in the media land
C'mon spill some dirty.  
 
 We all know what they're doing to that poor (B)ryan adams fellow.  Making him record some more.  He's such a nice, unassuming guy.  Why must they be so mean to him?