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(SFGate)   Consumers rush to join CD settlement   (sfgate.com) divider line 60
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11221 clicks; posted to Main » on 28 Jan 2003 at 5:46 AM (11 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2003-01-28 05:50:31 AM
I really feel for the recording industry.

Me? My name is Jesus, and I have super powers.
 
2003-01-28 05:53:14 AM
I find it odd that they have to pay 64 Mill, yet didn't have to admit wrongdoing. Why? Because if they did admit it they would have to stop!
 
2003-01-28 05:54:35 AM
FARK! There goes my free $20 from the recording industry! Bastards!
 
2003-01-28 05:56:52 AM
Dag yo. Only in the states? SUXXOR.
 
2003-01-28 06:05:55 AM
Is this what drove Hilary Rosen from the RIAA? She couldn't stand the thought of a million greedy consumers taking her precious (money that is). heh
 
2003-01-28 06:06:23 AM
How bout I just download $20 worth of MP3's from the internet and we call it even? If I download too many, I'll send the music industry between 5 and 20 dollars. Without admitting any wrongdoing of course.
 
2003-01-28 06:10:48 AM
Oh wow! Twenty dollars! With that kind of money I could go out and buy a CD.
 
2003-01-28 06:10:52 AM
I think there still overcharging. Damn damnet.
 
2003-01-28 06:14:23 AM
Brilliant. The RIAA, owned by the same folks who own the other mass media, wages a merciless media campaign against itself -- collect what you are due! -- to drive up the number of collectors in the suit to the point where they don't have to pay money anymore. If I recall correctly, if a certain number of people apply, they get to pay out in back inventory of CD's rather than in cash, which means they a) save money and b) clear a backlog that they otherwise would never sell. One day, when I grow up, I want to be an evil genius like them.
 
2003-01-28 06:14:42 AM
"The labels and stores also agreed to provide about $75.7 million worth of free music CDs to schools, libraries and charities."


Great. They get to write off, at full price a bunch of returned junk (it used to be called "cutouts"), so instead of claiming the standard $1.00 loss (the price of manufacture) They get to claim $15.00.(full retail)
 
2003-01-28 06:20:48 AM
Thank you, Telemakhos and TommyymmoT, for totally pissing on my schadenfreude.
 
2003-01-28 06:30:03 AM
I filed this a month ago A MONTH AGO...better give me my farking 20 bucks music industry...or ill...um...steal lots of music!!
 
2003-01-28 06:41:19 AM
Wait how does this work again?

The overcharged consumers to the tune of 500 million and payback 67.4 million plus give 75.7 million worth of crap to charities?
 
2003-01-28 06:51:00 AM
Anti_Freak_Machine: The article fails to mention that the Accountants that did the math used to work for Enron....
 
2003-01-28 06:51:09 AM
We'll never see a penny of this money. I signed up for the refund when it was first announced, late 2002. The amount they RIAA is refunding for consumers is ridiculously low. Assuming you foolishly overpayed 5 bucks a CD at your local Sam Goody (and shame on you if you're still shopping there), that provides refunds for 13,480,000 CDs.

In other words, they're willing to give back roughly what they grossed off of one Eminem album's sales.

I've bought over 400 CDs since 1995. Even though I haven't been stupid enough to shop at the mall stores, I'd really like the 5 bucks I was supposedly over-charged on each CD back. I'd like that $2,000 bucks back. I sure could use it.
 
2003-01-28 07:02:45 AM
Wait how does this work again?

The overcharged consumers to the tune of 500 million and payback 67.4 million plus give 75.7 million worth of crap to charities?


I see someone's been teaching the populace math again. That's not acceptable -- we'll have to develop new tactics to continue to produce academic failures too stupid not to be bilked of the wages of their toil. Damn those shepherds for teaching the sheep.
 
2003-01-28 07:05:54 AM
I wonder how many millions of dollars were spent on lavish industry cocaine parties to celebrate this settlement? This trial is one giant cash cow.

Music Industry: "Yay! We grossed 500M and blew only about 200M in expenditures and overhead in this operation -- all of which either clears our back inventories or will be written off to avoid taxes! We probably *made* money off the trial!"
 
2003-01-28 07:21:33 AM
It's a shame the only people that get anything are the lawyers....
 
2003-01-28 07:33:01 AM
That's why they settled for 67 million when they could have gone much higher. The lawyers used everyone who signed up for their money-grab which helped the RIAA more than hurt. In summary, the lawyers used you like the RIAA.

The is broken. Workers of the world, unite!
 
2003-01-28 07:34:01 AM
That wasn't directed at anyone, just commentary on the article in general. These lawyers need to have their licenses stripped.
 
2003-01-28 07:36:25 AM
I thought if too many people signed up, nobody got any money due to adminstrative costs or some such BS.
 
2003-01-28 08:14:17 AM
Personal responsibility surrenders.

You know, price fixing is wrong and all that, but there's a simple solution: DON'T BUY.

You didn't need that Britney Spears CD that bad anyway. Music albums are luxury items, not essential to your life. If you were stupid enough to pay more than you thought a CD was worth, then that's your loss. Since when was stupidity such a virtuous excuse?

If you think that by taking $20 away from this, you are sending a message, then you're right. Here's the message you send:

- I'm a dumbass who doesn't know the value of money.
- I will blindly pay whatever price is on the sticker.
- I have no control over my spending habits.
- I would rather buy now and hope some lawyer will make it all better down the road.
- I don't understand basic economics.

This lawsuit makes it seem like you had no choice but to pay the price fixed by the industry. You have a choice - DON'T BUY IT. Or just wait for some other dumbass to buy it, then buy it used.

Wake up people. If I didn't have a 101.3 fever right now, I'd say this whole thing makes me feel sick, but this damn flu is taking care of that for you.
 
2003-01-28 08:30:08 AM
Sikobabel-
You aren't doing this...dude...Free money
 
2003-01-28 08:31:49 AM
The cash paid by the Defendants, after the payment of attorneys' fees, litigation and Settlement administration costs, shall be distributed to consumers who purchased Music Products. The number of claims filed will determine the actual amount of the individual refund but will not exceed $20.00 per claimant. If the number of claims filed would result in refunds of less than $5.00 per claimant, there will be no cash distribution to individual consumers. Rather, the cash portion of the Settlement shall be distributed to not-for-profit, charitable, governmental or public entities to be used for music-related purposes or programs for the benefit of consumers who purchased Music Products.
 
2003-01-28 08:33:43 AM

Oh boy, $20! that will make up for it. I mean, I have bought about 1000 cds in my life and all.

bastards.

 
2003-01-28 08:40:31 AM
Bfett20, I wouldn't take it if it were free beer. I bought my fair share CDs during the time in question, although most of them I bought used. Sometimes I paid full price and regretted it. Do I feel ripped off? A little. But I feel more stupid than ripped off. I could have waited. At college I could always find someone who had already bought a CD I was interested in. I could have done more research.

So, I jumped the gun. I paid for convenience. I had to have it now. So, my loss.

If I take this money, I dodge the blame. I send the message that the RIAA can make me spend whatever they want, and it's up to the lawyers to save me.

Sorry, but my soul is worth more than 20 bucks.
 
2003-01-28 08:45:54 AM
AbbyNormal - Well, now you know what to expect from the system.

For justice, you've gotta go to the Godfa- I mean, Kazaa.
 
2003-01-28 08:52:04 AM
Sikobabel:

Daniel?!
I only know one person thats cheap enough to not buy cd's till he see's them on 2nd shelves...
 
2003-01-28 08:52:19 AM
Maddan
How bout I just download $20 worth of MP3's from the internet and we call it even? If I download too many, I'll send the music industry between 5 and 20 dollars. Without admitting any wrongdoing of course.

ROFL.

Behold the power of Fark. This took off after it was posted here a little over a week ago. Ergo, it's because of Fark that everyone who applied will get $5.03.
 
2003-01-28 08:59:00 AM
Snuff3r - now you know two.

It's funny how I'm cheap for buying used CD's, but people who download music illicitly are 1337 or whatever.
 
2003-01-28 09:02:47 AM
Yep, there's no way that anyone is going to see any of that money now. Dammit.
 
2003-01-28 09:03:38 AM
shiat! Arseholes keep publicizing this thing (after I saw it, of course) and Im not gonna see any money!
 
2003-01-28 09:15:45 AM
A government of for and by the elites, powerful corporate interests and the lackey politicians and bureaucrats that serve the elites.

Suckers!
 
2003-01-28 09:53:08 AM
I feel I have gotten even by not buying and cd's within the last 5 years and have strictly used peer-2-peer so I feel I have been saying fark you and take your 20 and shove it up their *****.

Stupid farkers.


Art
 
2003-01-28 10:00:16 AM
Does anyone get the feeling that with all the advertising and publicity about the settlement, that maybe they're actually trying to sign up enough people so they don't have to pay out cash?
 
2003-01-28 10:04:46 AM
Cokemonkey:

Publicizing the settlement has almost ensured that only the lawyers would get anything from it, and that the money would go to charitable groups. "Regular" people would waste the money on hookers, pr0n, and booze; so supercede them and give it to those who need type of thing. I am pretty sure that a lot of the million or so that signed up have did not purchase a CD. They heard about the site, and just checked it out; while they were there they figured to file a claim. If you had to furnish proof of your purchase, like a receipt or credit card statement, most of the people would be in a bit of trouble for making a false claim.

1. Am I being sued?
No, you are not being sued. Certain companies are being sued.


That explains a lot.
 
Bf+
2003-01-28 10:06:46 AM
You'll just get vouchers for $5 off the new $100 Britney box set (ala M$).
 
2003-01-28 10:12:30 AM
Man -

I have no trouble with people forming opinions.

I do, however, have a problem with people reading facts, then ignoring them because their opinions were already formed.

to wit:
If I recall correctly, if a certain number of people apply, they get to pay out in back inventory of CD's rather than in cash


and

Great. They get to write off, at full price a bunch of returned junk (it used to be called "cutouts"), so instead of claiming the standard $1.00 loss (the price of manufacture) They get to claim $15.00.(full retail)


1. RTFA. They have to pay out the cash no matter what. Where it goes depends on how many people apply.


2. Simple economics - if you are forced to give away $100 worth of merchandise that you paid $10 for, you lose $100, not $10. That's the expected revenue of the product, and the amount of return on which all the marketing, staffing, and business expenses were based.


Geez, people.
 
2003-01-28 10:45:39 AM
I wonder how much Fark had to do with the # of people that are now signing up, seems like most of the stupid/silly/odd stories that I hear on the radio come from fark.
 
2003-01-28 11:15:36 AM
I'm taking my $20 settlement in the form of stolen music, thank you very much. Keep yo chump change fools. ;P
 
2003-01-28 11:39:32 AM
They are handing out 67 million in cash. It requires more then 3 million people to apply before the amount each person gets goes under 20 bucks, and about 13 million before it would under $5 and there is no distribution. It now stands at about 1 million, and the deadline is March 3rd. I think it will be unlikely that the number of people will reach the former benchmark, and virtually immpossible it will reach the latter.
 
2003-01-28 11:57:08 AM
"The word is out," said Steven Steingard, a Philadelphia attorney who represents several individual consumers who also filed a class-action suit alleging the record industry had overcharged for CDs sold in stores. "And by the way, greasy, slimy trial lawyers like me are really the only ones who make out well in these class action lawsuits. You get up to 20 bucks, and I get a nice big cut of the 67 million. Bwa-ha-ha-ha-ha-ha-ha!"
"Oh yeah, and vote John Edwards for president, so that us stinkin ambulance chasers have one of our own in the White House."
 
2003-01-28 12:23:19 PM
Holy conspiracy theorists, Batman. My dad would be so proud of y'all.

It is possible (although I haven't looked into this yet) that a certain amount of publicity is a requirement of the settlement, and not some underhanded attempt to get a bunch of people to file a claim so that the actual amount per claimant goes down.

No matter what happens, the money has to be paid out. Further terms of the settlement may require that if the money is paid out to charitable organizations, as specified in the claim form, the companies cannot take a tax write-off. I'd be interested in reading the terms of the settlement to find that out.

If the number of claimants should get to the point where no one would get more than $5.00 and the money goes to charity, fine by me.
 
2003-01-28 12:40:24 PM
if i were actually to receive a refund, it would be but a mere fraction of the total amount of money i've given to the RIAA in my life. *sigh*

oh well.
 
2003-01-28 12:46:58 PM
sheesh, not the RIAA... the music industry itself.

yeah, i've been keeping people alive with the money i've been giving to the music industry. maybe i'm the one to blame.
 
2003-01-28 01:04:27 PM
Hell, I applied for the money. Why not? It's there, it's already taken from the RIAA, ignoring it isn't going to make it go away. I don't think I've been overcharged or anything (mostly because I've bought about 3 CDs new in the past 5 years, and one of those was marked down to $9.99), but to hell with it, it's not like the RIAA can't stand to lose a little money, now is it?
 
2003-01-28 01:53:44 PM
Nice, sheeple. Now no-one will get any money except the class action lawyers and some stupid charities that don't do anyone any fundamental good.. That's fair.

GO LAWYERS!!
 
2003-01-28 02:07:14 PM
If I receive $20 I'm gonna give it to charity so I can write it off too...muhahahahahha....EVIL
 
2003-01-28 03:06:33 PM
Sikobabel

The fever must have gone to your head. Allow me to respond to your rant point-by-point:

- I'm a dumbass who doesn't know the value of money.
Nice job ASSuming.

- I will blindly pay whatever price is on the sticker.
Some of us do comparison shop, or wait to buy it used.

- I have no control over my spending habits.
Well, yeah, sometimes I overspend. Who the hell doesn't?

- I would rather buy now and hope some lawyer will make it all better down the road.
This is case of music retailers and record labels conspiring behind closed doors to set a minimum price that products can be advertised at to give an unfare advantage to the retailers in collusion

- I don't understand basic economics.
Look in the mirror, pal.
 
2003-01-28 03:09:09 PM
Overcharge $500 million, potentially pay fines of...$140 million. They still profit over $300 million for thier actions. How is this "punishment"/settlement fair? I don't get it. If I conspired to steal 500+ million dollars with my cronies, I have serious doubts they'd let me keep some of it...
 
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