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susieq · 03-01-2009, 05:08 PM

What a surprise!!

Carolinian · 03-02-2009, 08:08 AM

There was an earlier thread. The attorneys and lead plaintiffs have sold the class plaintiffs down the river. Sellout is a better term than settlement.

There are procedures to send a written objection to the trial judge, and all of us should do so, objecting to any meaningful injunctive relief as well as to the high legal fee for selling out their clients that these shyster attormeys propose.

TSToday · 03-02-2009, 01:22 PM

Objection filed by TimeSharing Today to settlement

TimeSharing Today magazine, acting through its Editor, has filed an objection to the proposed settlement of the class action lawsuit filed against RCI by disgruntled Weeks members. The biggest complaint of RCI Weeks members is that RCI puts deposited weeks into their rental program instead of holding them to satisfy exchange requests. While the proposed settlement takes some steps to resolving this problem, there are two major flaws in the proposal, according to the objection filed by TimeSharing Today with the United Stated District Court that is considering the settlement agreement. The problems with the settlement agreement are described more fully in the Mar/Apr issue of TimeSharing Today magazine, which includes the complete text of the objections filed with the Court. The Mar/Apr issue has just been delivered to the Post Office and will be delivered shortly to subscribers.

Members can file objections to the terms of the settlement agreement, stating why they believe the Court should not approve it. However, members who are considering filing an objection to the agreement should not rely on the summary of the major terms of the settlement agreement that is published in the magazine, but should carefully read the text of the agreement before filing any objections.*

JLB · 03-02-2009, 02:39 PM

IMHO, the major achievement is/was to bring the issue out into the open, in a very public way, and to say to RCI, "What you are doing is violating a faith that your members have with you, that your sole purpose should be to allow owners of timeshares to trade with each other."

If that has altered their business model, say by bringing about the new, revealing search engine, and, if there was to be a method of independent monitoring, that would be fine with me. We have continued to enjoy fine exchanges, getting back at least what we've given, despite their purported bad behavior, so any sort of monetary settlement with us would be hard to justify.

As hard as I've tried the last five years I have been unable find evidence that their alleged rental of Spacebanked weeks harmed us in any way.

However, because of what they have done, although I want to be on their side, that is hard.

tabbyc · 03-02-2009, 04:14 PM

Exchange Inventory Has Declined Dramatically

The ability to book weeks off the website at a two day notice has disappeared completely.

"Instant exchange" (a term no longer used) inventory has been substantially diminished and the rental of RCI Weeks through a multitude of sources including premiums offered through premium suppliers and travel clubs has become so prevalent that it is impossible not to recognize that weeks specifically deposited by timeshare owners to be used as exchange by other owners has been radically affected.

Not to mention how the RCI points members were able to access the RCI Weeks owners inventory with no reciprocation causing removal of prime RCI Weeks inventory and when RCI did their sleight of hand removal of Weeks when members used other programs.

In the last five years the inventory pool has gotten worse every year to the point of not being able to get anything close to the places that were available to access five years ago.

When there was a plethora of inventory people used their weeks on many different types of vacations and the ability to achieve an "upgrade" to the size unit or trading power value was frequently acheived.

RCI became like the working girl on the corner.
She's got it. She sold it. But she's still got it.
And the members are treated like tricks and fools.

JLB · 03-02-2009, 10:12 PM

I know only one person who actually documented that, and it did, in fact, start five years ago, 2004.

Wanna see the evidence?

Oh yeah, I never been able to link the dropoff in exchange availability to rentals, nor has anyone else in my study.

Originally posted by tabbyc

In the last five years the inventory pool has gotten worse every year to the point of not being able to get anything close to the places that were available to access five years ago.

JLB · 03-03-2009, 10:28 AM

I realize everything that can be said has been said, but what if RCI offered the option of depositing into the Spacebank, or buying vacation intervals from owners outright, to do with whatever they want?

Carolinian · 03-04-2009, 05:50 AM

Originally posted by TSToday

TimeSharing Today magazine, acting through its Editor, has filed an objection to the proposed settlement of the class action lawsuit filed against RCI by disgruntled Weeks members. The biggest complaint of RCI Weeks members is that RCI puts deposited weeks into their rental program instead of holding them to satisfy exchange requests. While the proposed settlement takes some steps to resolving this problem, there are two major flaws in the proposal, according to the objection filed by TimeSharing Today with the United Stated District Court that is considering the settlement agreement. The problems with the settlement agreement are described more fully in the Mar/Apr issue of TimeSharing Today magazine, which includes the complete text of the objections filed with the Court. The Mar/Apr issue has just been delivered to the Post Office and will be delivered shortly to subscribers.

Members can file objections to the terms of the settlement agreement, stating why they believe the Court should not approve it. However, members who are considering filing an objection to the agreement should not rely on the summary of the major terms of the settlement agreement that is published in the magazine, but should carefully read the text of the agreement before filing any objections.*

Thank you, Shep! TST is stepping up to the plate on one of the biggest threats to timesharing ever to come down the pike.

For those of you who do not have the time or background to write your own objections, I suggest just writing the court and saying that you concur with the Timesharing Today objections.

mishugana · 03-04-2009, 01:55 PM

I belonged to RCI during the period but never used the trading feature am i entitled to the settlement

JLB · 03-04-2009, 05:08 PM

Yes, you are entitled to all of just about nothing!

Originally posted by mishugana View Post

I belonged to RCI during the period but never used the trading feature am i entitled to the settlement

T. R. Oglodyte · 03-04-2009, 05:28 PM

Originally posted by mishugana View Post

I belonged to RCI during the period but never used the trading feature am i entitled to the settlement

Be careful what you ask for. When people are getting dumped on, asking to be included isn't necessarily a good idea.

JLB · 03-12-2009, 04:08 PM

Anyone else get an email from NLB@clascounsel.com (slightly changed)?

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