I would have to go with the RETAIL version -- and I thank you, and the last couple of posters for the recent posts!

I think it could be a tough business to be in as well, but the fact that consumers have miles and feel the need to use them, it is true that they are looking for options to make that happen. Shere profit-based business does not necessarily have to be the only way to look at this. I bet if these were somehow structured differently, the costs for us would be a lot less. Points.com has been good for many, like myself, who wish to consolidate, but I am aware of the fact I am paying thru the nose to do it thru them. Turns out United Airlines now allows transfers of miles and the fee structure is basically the same, but the service that does it does not appear to be through Points.com. I may need to look deeper to learn who it is. But since both entities do charge the same basic fees, we need to (A) figure out why that's the going rate, and, (B) we need to figure out where savings can be had by watching the competition and the mistakes it has made.

From a business standpoint, I cannot see how any company can save you much more than a dollar here or $5 there if competing, but an almost non-profit organizational approach may actually work here...

Randy take note

FT could act as some sort of NP to go at all of this with a sort of watchdog or ombudsman-styled mission statement and would also inherently undercut a lot of prices in the market. Its relationships with the industry may actually help it do so! Also note: NPs don't have to make NO profits, they just structure certain things differently, etc.

Finally, as said in previous posts, if consumers had to choose evenly across the board between Coke, Pepsi, and, I dunno, RC Cola, then it would be the product value, company integrity, brand marketability, and customer service that would enable these customers to make their choice to buy and/or come back for more. I have been harping on Customer Service all along, because Points.com does not hvae very good CS.

MM

(Of course, with sodas you have to factor in taste, but with miles and points this may simply translate into that little inner smile you get when you do ANYTHING online involving the concept of future travel for yourself and how the activity on that site feels when clicking through! Very exciting indeed)