Blockbuster: It Was Really About Profiting From the Obonxious Late Fees

BusinessWeek: “The company said it could be forced into bankruptcy protection if a new credit agreement with lenders doesn’t become effective…..Antioco said Dallas-based Blockbuster might sell some game stores, but he stood by the decision to cut late fees, which accounted for 13 percent of Blockbuster’s revenue a year ago.”

Good riddance.

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