Posted By:
warshawlawI don't think anyone should cheer its passing for two reasons:
1. Every disgruntled, pissed off redemption customer is one less potential vintage collector. Lots of people start with this year's set then get into older cards as they become interested in the hobby. Screw them early on, however, and they move to something else. We need fresh faces or our treasures become overpriced cardboard;
2. Fleer was one of the iconic nameplates of the hobby with a long history and many significant issues, plus a huge role in the formation of the modern conveniences we like about the hobby (big shows, good prices, lots of interest).
I happen to think that the competition between the card companies spurred on by Fleer's antitrust suit was great. I mean, look at the cards offered from 1974-80 and 1981-87. The graphics, photos and paper quality went way up as the three rivals fought for market share. You may not like modern cards but that is no reason to cheer on this company's failure. Besides, if you don't collect the "new crap", who cares whethere there is 1 set or 500 sets?
As far as bidding on the bones go, there is one misconception out there that I want to clear up: in bankruptcy or in an assignment for benefit of creditors, the debt is left behind when the assets are sold. The proceeds on the assets are used to pay off the creditors. If Upper Deck's $2 million is the only credible bid, they will get the assets free and clear of debt for that sum.