Mr. Bill Cox:

I did not want to give the impression that there is not a problem. My point was that the problem is not as great as sometimes suggested. We quoted data in the submission which indicate that most of the stadium and outdoor events this summer have not sold out. Tickets are available on the primary market for them at face value. People who buy tickets for resale lose sometimes as well as gain. Anyone who went on the secondary platforms would have seen that many of the expensive tickets for the Rolling Stones concert were on resale for much less than their face value. Those facts are sometimes lost in the public hubbub about this issue. It does not affect the great majority of entertainment or sporting events. It is a serious problem for a relatively small number of events every year. That is not to downplay the problem. It is just to try to put it in perspective.