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Hi Gang, A statement was made recently that circled w's were intentionally omitted from budget labels so as to avoid paying W.E. royalties. I assume that was a speculation and that it's not documented. At that time AT&T (which owed Western Electric) was massive, omnipotent company. The group of which Columbia and its budget labels was a puny corporate entity. I suspect that IF they considered perpetrating a breach of contract, that the record company's executives would've ultimately chosen not to risk the ire of the liscensor. Best, Shiffy