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Re: RCI Class Action Lawsuit (by David W.):

jayjay,

Thank you for the compliment. I try hard not to just shoot from the hip. You too are very articulate and someone that many readers will respond to when deciding what they should do about objecting or not objecting to the currently proposed settlement.

It is important to me that everyone know that a "member of the class" can make a claim while also separately objecting to the proposed Settlement. We need to get the word out and at timeshareforums.com and tugbbs.com, I am doing my best.

If you look me up at the previously mentioned sites my Username is Goofyhobbie.

Recently a website was created and dedicated to helping "objectors" get the word out.

The site was created as an informational resource for each and every current or former RCI "Weeks" Member.

For those that realize that RCI is just offering a "token benefit" and very little in the way of program changes, objecting is something they should seriously consider. Jayjay, if you or any one else interested wants good information about objecting glance at the site. It is very easy to navigate and is quite informative.

http://rciclassactionlawsuit.com/

The proposed settlement needs some serious revision before it is accepted by the Court.

There are literally thousands of folks who are just now finding out that RCI has been "skimming" good weeks as they are deposited and immediately making them available for rent at prices below what the owner of the week had to pay in maintenance fees.

Some have reported that they have benefitted from RCI's greed as much as a year or more in advance of the check-in date by going to such sites as Skyauction.com and simply bidding without much competition for great vacations at Resorts and times that are in high demand.

Those buyers of the opportunity to use a Week at a condo paid for by a timeshare owner are making out like bandits while redweek.com renters of comparable weeks try to compete for that renter business.

Yes! Bargain hunters are getting access to timeshare weeks that were deposited into the RCI Spacebank for the purpose of exchange for far less than the owner had to pay in maintenance fees and exchange fees. That of course says nothing about the amortized cost that the owner paid upfront when they made their purchase. Why would any sophiscated Vacationer rent a timeshare at Redweek.com or purchase a timeshare from a Redweek.com seller?

RCI and other major exchange companies have nothing or very little invested in the value of Weeks that they skim off of the top and make available for rent. Almost everything that they receive in income from affiliates such as Skyauction.com goes directly to RCI’s bottom line. Meanwhile, the individual who deposited the Week is like other exchangers looking to get high demand weeks that simply are not available because the exchange company (in this case RCI, chooses to put those prime weeks to other use.

Please encourage as many as you can to visit http://rciclassactionlawsuit.com/

Dave (Goofyhobbie)