#NHL #Lockout Tweet of the Day: 10-12-12 Has the NHL been Price Gouging?

We skipped that lame 10-11-12 nonsense.

You’re welcome.

Instead, here’s your 10-12-12 nonsense:

Whatever does he mean?

Oh, Bettman and the NHL promised that ticket prices would fall after the last lockout. They didn’t. From the News and Observer:

The fact of the matter is, the average NHL ticket went up almost 25 percent in the five years following the lockout, according to Team Marketing Report.

What the heck are they trying to do, keep up with the scalpers? Yeeesh. Despite the incredible revenue the league was making, prices for fans went up, and up, and up. So dang, is this price gouging?


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Overpriced and painful. Make it stop, Bettman. Ha! Who am I kidding?

Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities much higher than is considered reasonable or fair. This rapid increase in prices occurs after a demand or supply shock: examples include price increases after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits. In the Soviet Union, it was simply included under the single definition of speculation.

The term is similar to profiteering but can be distinguished by being short-term and localized, and by a restriction to essentials such as food, clothing, shelter, medicine and equipment needed to preserve life, limb and property. In jurisdictions where there is no such crime, the term may still be used to pressure firms to refrain from such behavior.

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