Florida Republican Cliff Stearns (a fellow Gator) called ICANN out on its finances , noting that the last balance sheet the nonprofit group showed a $7 million surplus.
“You should take that $7 million and make sure that cyber-squatters are gone,” he said. “I think your job should be not just developing a surplus but actually implementing, making it cheaper for consumers, and actually doing your mission.”
This is what we have been saying for a long time, especially after ICANN reported they lost $4.5 Million in the stock market
ICANN is a NON-PROFIT company.
If it has excess funds it needs to reduce costs, not find something to do with the money.
Under the new gTLD’s proposal, ICANN still has no plans for an excessive funds.
If the amount raised from the new gTLD’s exceed its costs then:
“They will be disposed of in a manner consistent with the community’s feedback”, whatever that means.
There should be no question where the excess money should go, to reduce the cost to the consumer.
ICANN has never understood as the guardian of the domain name system one its major responsiblity is to reduce costs for the consumer.