not quite a BIND technical question

[Christine.Tran at east.sun.com]

A company out of Seattle caled ENIC is offering registrations for domain names with .cc extensions.  What now??  Companies that have registered, according to their flyer, are Intel, Coke, UPS ...etc.  Did some country sell their .cc delegation and now people are on a warpath to squat on domain names in .cc?  Is this a legitimate expansion of TLDN or just another way for us to squander money to the tune of $100/2years?  How is this going to impact the current root servers?

I realize this is not directly a BIND question, if not an answer, I hope to get some direction as to what forum might provide the answer.  My apologies for the non-BIND noise.

QCT