Back in fall 1999 Network Solutions expired hundreds of three letter dot com domains from people who failed to pay their dues. Network Solutions had allowed domain fees to not be paid for over 9 months past their typical 1 month waiting period. Three letter domains are valuable mostly as acronyms. He wants big money. Not just a measely thousand dollars.
Ricks is a major domain owner.
He took advantage last fall. They have common letters. The three letter domain market is interesting. It is finite. Businesses want dot com.