AEG’s plan to recoup Jackson loss

AEG, the company behind Michael Jackson’s 50 date sell out london tours are obviously in pretty big trouble now that the king of pop is dead.

Creative Commons License photo credit: bioxid

Apparently they had the first 10 concerts insured, but for the rest… nothing. AEG president Randy Phillips said just a few weeks ago when questioned on Jackson’s fitness;

“I would trade my body for his tomorrow. He’s in fantastic shape.”

The same guy also said he wasn’t worried about getting insurance and that his company would be prepared to insure the concerts themselves if need be. Needless to say AEG is now facing millions in lost sales, refunds, payouts for staff, venue etc….

Here is their plan to limit their losses – issuing souvenir tickets OR offering a full refund.

Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and respect after his death

I’m taking the refund myself. I booked my tickets as part of a package deal so a full refund for me means £540. I can then use it to book a hotel in london for two nights which should cost about £240, so i’ll actually be ‘up’ £300 even though it’s my money anyway… i just wasn’t expecting to see it again.

Anyway, charging people full whack for an official ticket for an event which will never take place is not showing ‘reverence’ or ‘repect’ to either Jackson or his fans. It’s a blatent attempt by AEG to limit their losses. If they really cared, they’d issue a full refund AND the ticket.

These tickets will not go to the real fans either. As i pointed out when tickets first went on sale, many ended up in the wrong hands and now, things are gonna get worse for real fans, better for those touts who managed to get tickets originally.

Let’s see how much these sell for on ebay and how many sell on ebay…

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