Blockbuster bags late fees, gives customers grace period.(Brief Article)

No more late fees. That's the message Blockbuster gave to its customers this week when it announced it was pulling the plug on late fees for movies and games, beginning Jan. 1. Instead, it is introducing a one-week grace period, which will allow consumers to hold on to rented merchandise a bit longer. But they can't hold on forever: Blockbuster noted that if the merchandise is not returned during the grace period, it will automatically be sold to the customer. Blockbuster said it would send postcards and phone its members to let them know that the movie rental was converted to a sale. However, customers will be …