From Michael Biel: "... it seemed so strange that the record industry would
not want to sell-out its soon to be cut-outs at full price by publicising
them rather than sell them at a loss later on. Publish the list, tell
everyone they have two months, and then trash the rest, don't discount them.
If we KNOW we won't find them cheap, we'll get them while they are
This was the problem created by records being sold to distributors and
stores on consignment.
Accepting returned LPs by collect freight was a significant expense while
every label's cash flow was a nightmare thanks to the fact that half of your
distributors and retail outlets would be unable to pay their bills until
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