The Federal Open Market Committee unanimously agreed to keep the federal
funds rate at 5.25% — that’s exactly where its been since the June 2006 FOMC.
The Fed statement said the economy "slowed" versus prior statements in the
first part of the year. Previously,the Fed described the economy as
The Fed repeated that the housing adjustment is "ongoing;" the likeliest scenario remains "moderate" growth; core inflation remains "somewhat elevated"
but should come down. Also of note: High resource utilization remains an inflation threat.
The Board of Governors of the Federal Reserve System has issued the
following press release: FOMC statement
WSJ’s Parsing the FOMC Statement
click for larger graphic
Category: Federal Reserve
We have long criticized the absurd Retail pricing of CDs. A few years ago, we asked the question Are CD Prices Getting More Dynamic?
It seems that some people in the industry have actually read The Long Tail, and figured out that they are better off pricing older catalog CDs aggressively, and actually selling them, rather than maintaining an absurd list price for 20, 30, even 50 year old recordings, and letting them sit in some warehouse somewhere unsold.
At the same time, it must be mentioned that the preponderence of utterly brain damaged morons in positions of authority in the Music Biz has not attenuated one tiny bit. They are the anti Long Tailers, also known as The Fat Heads.
The latest evidence of blunt head trauma syndrome is via this little piece of advanced rocketry: To sell used CDs in some states, at the behest of the industry, you are required to: 1) have your fingerprints taken; 2) endure a 30 day waiting period; 3) only recieve store credit for used CDs (not cash).
Meanwhile, in the world of online retailing, Amazon has done a decent job taking CDs and recordings that are Long Tail — either via age, or obscurity, or just overdue — and making them available at more competitive prices.
As traditional CD sellers disappear, the long tail catalog will be found increasingly at Online retailers, while the Big BOx (Wal Mart, Best Buy, Target) only carries the latest top 50 hits.
It makes smart business sense to use Amazon to blow them out.
After the jump, there’s a handful of Discs I pulled from Amazon — most are $7.97 . . .
NARM Coverage: New Laws Threaten Used CD Market
Ed Christman, Chicago
Billboard May, 01, 2007 – Retail
Record shops: Used CDs? Ihre papieren, bitte!
Ars Technica,May 07, 2007 – 01:23PM CT