I was thinking about this venture a lot over my vacation. I agree with those who say that the offer created a commodity it is only natural for markets to arise around fungable commodities.

I think if anyone is to "blame" here it is ValuMags who were sloppy in their marketing scheme. They were too loose with the terms of the offer and left themselves open to this sort of commoditization of their offer.

It is also clear, however, that the airlines, hotels, etc have set up pretty darn tight programs to avoid this sort of problem. Sure there are mileage brokers, but they operate clearly outside the rules and their clients can and will be screwed over if caught.

So I'm not at all worried about much of a commodity or futures or even derivatives market arising that will threaten future programs. To the contrary, I would argue that MileSpy has done all marketers a FAVOR by pointing out how NOT to set up a marketing incentive program.

JMHO....