Take a lesson from Delphi, the giant auto parts supplier stuck in Chapter 11 despite its $26 billion in annual sales: It's no fun to be in a business where a few big customers can demand price cuts with each passing year. Meanwhile, movie theaters--even while besieged by video-on-demand and other services--still manage to push higher prices on the disaggregated masses. The cost of a seat at a Regal Entertainment Group theater in lower Manhattan is now $12--up 20% in less than three years.
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