Jack White & Loretta Lynn at the 2005 Grammy Awards

This is actually old news, picked up recently by Forbes Magazine and the regurgitated by The Blaze. (which is where I found out about it.) None-the-less, no matter how old this story is, it still is a great example of the American way.

Jack White, singer-songwriter of the White Stripes and the 70th best guitarist of all-time (as decided by the folks at Rolling Stone), opened up a boutique record label called Third Man Records in 2001. In 2010 a few White Stripes fans started to make some noise and complain about certain business practices of Third Man Records. Particularly when they released a limited edition version of the then newly reissued White Stripes debut and sold it via their own eBay page, a sale that netted them $510.

Mr. White explained that this was done basically to cut out the eBay flippers, that were buying the records for cheap and then “flipping” them on eBay at large profits. That did nothing to lessen the anger amongst fans, so White went on to say:

“… make no mistake, we could make twenty thousand split color whatevers for you, and they’ll be worth 20 bucks, and you’ll pay 20 bucks for them, and you’ll never talk about them, desire them, hunt to find them, etc. why should ebay flippers, who are not real fans, dictate the price, make all the profit (taken from the artist and the label) and take the records out of the hands of real fans. there’s a guy who waits in a black suv down the block from third man who hires homeless people to go buy him tri colors when they are on sale. doesn’t even get out of his car. should he be charged ten bucks or two hundred? don’t be spoiled, don’t insult people who are trying to give you what you want.”

Basically the Free Market (what fans were willing to pay on eBay) set the price. Jack White, being a business man found out that fans were buying the records that his business was selling for much cheaper at inflated prices anyways. All he did was cut out the middle man and create more income for his business and the artists signed to that label.

An Occupy Wall Street protester would have a problem with that, but its nothing more then the American Way.

Related: Bob Dylan, Sell Out Nazi Scumbag?