More bad news for Air Miles!
From the CBC: Air Miles sends apology to members for not living up to expectations in 2016 http://www.cbc.ca/news/business/air-...logy-1.4003988
"...last month, LoyaltyOne's parent company, Texas-based Alliance Data Systems, sent a more ominous message to collectors. It warned that Air Miles would have to adjust the program to make up for a $242-million US shortfall. That's money the company had determined it would have gained from collectors who let their miles expire on Jan. 1 rather than redeeming them. With the cancellation of the expiry policy, the anticipated financial gain disappeared. "
Among the **highlights** of the article
--Air Miles quietly drops value of some points
--Air Miles lowered the value of miles used for vacation packages by 20%.
--Warned that Air Miles would have to adjust the program to make up for a $242-million US shortfall.
ARRRRGH!!! We'll be paying for the bad business decisions (read: greed) of this company by getting less and less even though we are the engines that drive it. I am all for people making a profit and getting rich, rich, rich if they do so by providing an honest service. but why will I have to pay for their sleight-of-hand aimed at lining their own pockets?!
Having written the preceding...I hope the author of the article is wrong. I hope this is not too little, too late for Air Miles. Oh, well, if it is, I guess another program will take its place. To be safe, I'm going to start using up my balance at the grocery store.