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|Subject: Cross-post from Ebay Board||Date: 4/19/2007 5:08 PM|
|Author: Bovinecheese||Number: 200 of 215|
Thought I share this post I put up on the Ebay board today with you folks here, perhaps you might have any insight into this lawsuit?
Full disclosure: I own shares in Ebay and really despise Ticketmaster as a music fan. I know nothing of the IACI business model, though, and would rather live in a box on Raman noodles for a year than be a part owner of Ticketmaster's parent. No offense to y'all personally - I probably should invest in IACI, too, given how much money these thieves make and how easily they do it.
Anyhow, for any of you still reading, my rant on the Ebay board follows:
Saw this off of CNN Money's website today:
I hate Ticketbastard even more than I did before, which I didn't think was possible. Wonder if this might have something to do with the strange price movement today in Ebay's stock price?
Anyone concerned that this potential hit to Stubhub could be significant? Guess we'd need to know more about the wording of the contracts Ticketmaster has with these venues and/or performers... but it seems to me that if Ticketmaster has a beef it would be with the venues, IF they are giving tickets directly to Stubhub to later sell. It was my understanding that Stubhub acted as a broker for individuals who wanted to sell tickets they had already purchased (presumably from the vuenue itself or from Ticketmaster) and therefore Ticketmaster couldn't touch them, even if they did have "exclusive rights" to sell tickets at specific venues. I suppose if venues are holding back some tickets specifically for Stubhub, and Stubhub is aware that this violates a contract with TM - and how could they not be - there could be a problem. My bet is that TM is just being greedy and is chest-thumping some to frighten venues and performers into submission. They are frighteningly Borg-like, aren't they?
You'd think TM would be happy with the blatant gouging they already perpetrate - I absolutely refuse to go to the House of Blues here in New Orleans anymore now that I have to buy tickets through da Bastard. They must have leaned on the HOB - or gave them a kickback - because while you once could buy tickets on site directly from the box office and pay no extra fee, now you must buy tickets by phone or online from you-know-who. Typically on a $25 ticket the "convenience charge" paid to ticketmaster is $5-7 now. 25% of the ticket cost! Outrageous!
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