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Midway through this post from January 2007, I listed a series of initiatives that Blockbuster needed to take in order to even hope to stay alive, much less compete with Netflix.

Antioco wasn't up to the task, so even when my BBI underperform call was getting massacred, it was easy to leave it be.  But Keyes is no dummy, and he's making the right calls.  As it happens, they look a lot like what was in that post.  The back-patting would be much more vigorous if there hadn't been a chorus of people saying pretty much the same things at the same time.

At any rate, it's time to end this Underperform call--the things I think Blockbuster needs to do in order to thrive are being done, and while I don't think the company will ever really be the huge threat to Netflix that so many people expect, I do think it can be turned into a profitable concern not drowning in debt.  Congratulations, Mr. Keyes.  I was hoping to earn a little gavel on both this one and Movie Gallery, but I think you're going to prevent that.

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