You may have seen the headlines: Blockbuster to end late fees.
While I have no doubt that this is how the chain announced its new policy, it's amazing that so many news organizations accepted that spin without question.
From what I saw, only the Chicago Tribune read its own story closely enough to write a more accurate headline: Blockbuster Relaxes Policy on Late Fees.
I mean, there's still a late fee, you just get a week's grace period before it kicks in. After that the fee is either between $10 and $21 -- and you get to keep the movie -- or $1.25 if you return it within 30 days. Netflix, anyone?
Update: Just saw the fullpage ad promoting the change. "There are NO MORE LATE FEES at BLOCKBUSTER... If you need an extra day or two, go right ahead." Zero mention of the fact that if you take an extra seven days, you automatically get charged up to $21. How long till the first lawsuit?
