.tv Tuvalu unhappy with internet domain name return

[000]

Just saw this posted on Domain Name Wire:

Link to the story: Tuvalu unhappy with internet domain name return

Tuvalu’s Finance Minister says the country isn’t getting enough money from the US company which bought the dot-tv internet domain off it.

(Sorry if this has already been posted- just thought I'd share)

 

[Makis.TV]

Very interesting aricle.

 

[oka7domain]

Well, that's capitalism in business. They shouldn't sign It for a long term agreement if It suffers Them[2 millions/year until 2016?] now It's too late, unless They can bring this issue to International Arbitrage and re-negotiate It with Verisign which is very difficult to beat. No offense but Hope There's a win win solution for eveyone [especially for dot TV users like Us]. :bingo:

 

[benzdorf]

2 Mil..

:talk: 2 million bucks a year..that's utterly laughable; I spend that in one nite drink'n and smok'n..Verisign outta be ashamed of themselvZ..Doing what they are doing to that poor LiL Island..Im sick to my stomach...:talk:

the catch pharse for them banditZ outta be " Buy dotTV and screw and Island ! "

 

[namenut]

Most might feel this is shrewd business on verisigns behalf.
I don't. I see it as gouging for cash and to hell with the
future of the extension.

What do you think is going to happen in 2016? I would think
verisign will loose their position leaving us dot TV holders
(investors) in the dark.

Verisign should sit down and talk in a sign of good faith.
They should have "us" their clientèle in mind and be trying
to secure our futures as well. This is clearly the action of
an entity content with the quick cash.

Not a good verisign for dot TV future.

 

[El Bandolero]

I agree with NameNut here sure Verisign is making a profit but come 2016 what's going to happen? Will Tuvalu resign with them knowing how they didn't pay them enough for years or find a new company that will pay them more a year for the .tv extension.

In the end Verisign should try to make Tuvalu happy and show good faith, because in the end the only people that are going to end up screwed are going to be the .tv investors and I would really hate to see that, because you guys are awesome. Shows doesn't care about making the customer happy.

 

[MicroGuy]

I guess the Finance Minister has never heard of Gloria Allred? There has got to be some skeletons in the closet over at Versign, plus a loophole or twelve somewhere.

For example:

1.) The contract is invalid since it was signed by a previous government.

2.) The contract was never valid due to the fact it directly violates ICANN policy.

3.) Since Tuvalu is a sovereign nation, it can sue Verisign for breach of contract using its own court system and find them guilty on all counts.

I'm sure Gloria will come up with some better ideas. But the Finance Minister needs to explore all options instead of simply giving up and waiting for 2016. If Gloria is unavailable, I hear that Lindsey Lohans lawyer is available. IMHO.

 

[montechristos]

No offence, but if you believe this, you should sale any .tv you own, asap.

Do you really think that a small island like Tuvalu has the power to open a war against a monster like Verysign? May be they can, but they will lose.

Is there anyone know the exact terms of the contract they had signed? :music:

Ok, may be 2016, Tuvalu’s Finance Minister will go crazy and resign of the contract.
Verysign will stay with dotTV and Tuvalu will get a new, nice and fresh .tu or whatever...
Its making more sense if you think who is Verysign and what is Tuvalu. :imho:

I would think
verisign will loose their position leaving us dot TV holders
(investors) in the dark.

 

[snoop]

1.) The contract is invalid since it was signed by a previous government.

2.) The contract was never valid due to the fact it directly violates ICANN policy.

3.) Since Tuvalu is a sovereign nation, it can sue Verisign for breach of contract using its own court system and find them guilty on all counts.

I'm sure Gloria will come up with some better ideas. But the Finance Minister needs to explore all options instead of simply giving up and waiting for 2016. If Gloria is unavailable, I hear that Lindsey Lohans lawyer is available. IMHO.

The first one makes sense but I don't see the logic in the other two. Even then Verisign was probably smart enough to stake that US law applies rather than island tribal law. Even still, if Tuvalu claims the contract to be invalid what registry is going to step in and cut Verisign's lunch? A very brave one I'd say.

On point 2. how does it violate Icann policy? Icann doesn't regulate cctlds.

On the the 3rd point if Tuvalu sues Verisign in its own courts and finds against them what doe that mean? The billions Verisign has in the Tuvaluan Grass Shack Bank will be seized? If Verisign execs ever board the row boat to Tuvalu they will be arrested and placed in an animal pit?

 

[hgh.tv]

A deal is a deal, and it should be honored without making up new rules as we go along, excuses, socialism and blaming.

If .TV were-was not as popular as it is today, Tuvalu wouldn't be whining and moaning asking for more money against the "evil" capitalist Verisign *insert moaning here*. What they should have originally done is setup a pay for performance setup, where Tuvalu gets a certain cut for every domain name registered.

This article is just causing instability for the dot TV extension.

Tuvalu should be on their hands and knees kissing the feet of Verisign for making the domain name extension so popular and successful, because by 2016 they will inherit a billion dollar a year business.

 

[snoop]

A deal is a deal, and it should be honored without making up new rules as we go along, excuses, socialism and blaming.

If .TV were-was not as popular as it is today, Tuvalu wouldn't be whining and moaning asking for more money against the "evil" capitalist Verisign *insert moaning here*. What they should have originally done is setup a pay for performance setup, where Tuvalu gets a certain cut for every domain name registered.

This article is just causing instability for the dot TV extension.

Tuvalu should be on their hands and knees kissing the feet of Verisign for making the domain name extension so popular and successful, because by 2016 they will inherit a billion dollar a year business.

Agree except for the billion dollar a year stuff and I'm not sure Verisign has really done much for the extension. Not that trying to promote extensions really works well anyway. An extension either works or it doesn't.

I'm sure it was the best deal Tuvalu got at the time. Assuming say 1,000,000 reges (I'm not sure it is actually that high though) we are talking about maybe $10m per year registry revenue. There is probably scope for Tuvalu to get a couple of million more. Then again in the past the contract has been reported as being worth around $4million per year so hard to know where the truth lies.

 

[DU]

They should take the $2 million and setup a new extension.

.3d

After all... who wants two dimensions in 2016?

 

[DnEbook]

with the new gtld's coming they may reassess and accept it as is because eventually there will be .film .movie .video and so on meaning they have less bargaing power for this extension

 

[DU]

with the new gtld's coming they may reassess and accept it as is because eventually there will be .film .movie .video and so on meaning they have less bargaing power for this extension

I'm not sure that the demand is there for all these extensions in the long run. Who is going to sponsor them all? The film industry is fragmented - movie would be redundant with film - video why and who?

Until anyone can start an extension with an application form and $10 entry fee I think the whole process will fizzle out to the odd new '.com' replacement but no real movement.

Even .xxx will flop more than an old grannies boobs.

In 2050 they look at these period of time and laugh at us.

 

[snoop]

with the new gtld's coming they may reassess and accept it as is because eventually there will be .film .movie .video and so on meaning they have less bargaing power for this extension

It has already got X00,000 people signed up paying $20 etc, very different to unlaunched and unapproved tlds with no fixed timeframe for their arrival. I would think the Tuvalu government will be looking at the financials of the business rather than worrying about new tlds.

 

[dr manos]

.Do you really think that a small island like Tuvalu has the power to open a war against a monster like Verysign? May be they can, but they will lose.

Agree, Verisign will be the winner in such a war. Tuvalum have any other incomes except Verisign money? And the fact that they by luck have the .tv as cctld made them known in the world. Else i think 99.9% would ignore their existence 8^X

 

[MicroGuy]

A deal is a deal

Tell that to Tiger Woods.

"Nordegren signed a pre-nup agreement that would land her $20 million dollars."

"Woods is in the process of closing a $100 million divorce settlement with Nordegren." :santa:

Source: Woods looses Custody and AT&T National | Bettor.com

Come to think of it, Tuvalu should use Elin's attorney. IMO.

 

[RogueWriter]

Eh, this is just the opening discussion in renegotiating the contract, which will be done long before 2016 arrives, albeit in a private boardroom somewhere. You put pressure on a company before you begin discussions, because it is important to open negotiations from a strong position.

If Tuvalu says, "gee, that 2 mil was a wonderful addition to our economy", Verisign says, "Great! Let's just extend the original agreement."

Worst case, Tuvalu threatens to open up the contract for bidding, and several players drive the price up.

 

[gr8trfoo]

No offence, but if you believe this, you should sale any .tv you own, asap.

he already has for the most part. aint that right microguy?

Do you really think that a small island like Tuvalu has the power to open a war against a monster like Verysign? May be they can, but they will lose.

ummm, despite its meager means tuvalu is still a sovreign nation. i belive they could repudiate the contract any time they see fit. there may be consequences but htose would mostly be financial. i dont know what you might have heard but verisign doent own any battleships or nuclear weapons. not yet.

they would lose the ongoing .tv payments and would have extreme difficulty finding anyone else who'd take up the task of managing the domain. more likely is they will continue to honor the deal and will look for more suitors in order to sweeten the deal for themselves come that fateful time.

 

[MrRhee]

I'm positive that when that happens, other players will be going up against Verisign.


.

Eh, this is just the opening discussion in renegotiating the contract, which will be done long before 2016 arrives, albeit in a private boardroom somewhere. You put pressure on a company before you begin discussions, because it is important to open negotiations from a strong position.

If Tuvalu says, "gee, that 2 mil was a wonderful addition to our economy", Verisign says, "Great! Let's just extend the original agreement."

Worst case, Tuvalu threatens to open up the contract for bidding, and several players drive the price up.