Anyone catch the "news" that Blockbuster is eliminating late fees? Great stuff, huh? Absolutely not: these guys just can't get off the jones of the free money this generates. Don't believe me? Read on: Loose Cannon: Blockbuster Bets: Will Customers Lose? By Richard H. Levey Picture the stock market as a giant roulette wheel. (From personal experience, I can say this is not just a fair, but perhaps an overly kind analogy. I see it more as a two-armed bandit.) Before placing a bet on Blockbuster Inc. to win in 2005, consider the following. On Jan. 1, the movie-rental chain will launch a program that will eliminate late fees. At least, that's what the company is telling customers. But if the plan Blockbuster announced last week is put into action, that's not what customers are going to experience. In 2005, late fees would have generated between $250 million and $300 million for the company, according to Blockbuster's own press releases. But under th
A Tretakoff view of the world.