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<p class=MsoNormal><span style='font-family:"Courier New"'>Here’s a
response to something Wendy said in the meeting:<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Courier New"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-family:"Arial","sans-serif"'>Wendy –
my concern, and milton doesn't seem to get this, is the market definition problems
of every domain is a monopoly for those who have locked themselves into
ownership of a domain name and want to keep it resolving. We can do all sorts
of market analysis for what the market looks like to a newcomer, but we haven't
for what it looks like for when you are already a registrant and the registry
has complete power over you. I hope that will be part of the discussions.<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-family:"Courier New"'>Wendy, as long as
there is no price cap on the registry, it doesn’t make any difference
whether there is vertical integration or separation. An opportunistic registry
could bump up their wholesale price from $5 to $500 as long as there are no
price caps, and independent registrars (if they existed) would be forced to pass
those costs along. An uncapped registry could do that whether or not they were
separate from the registrar. Therefore, the issue you are concerned about relates
to price caps on registries – not registry vertical integration, or cross
ownership and joint marketing. <o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Courier New"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-family:"Courier New"'>Do you get that? <o:p></o:p></span></p>
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