Digital Name hijackers

There is only a very limited number of common names and english words in this world. And the first movers (that is our generation) is lucky to get a name for ourselves so easily. Say an email account of your precise name you want or the blog site or the website with the right words to describe your blog. Some in our generation aren't all that lucky also. I also am a victim of Digital name hijacking. After quite some time of thinking when I started my blog, I wanted my blog site to be named "thinkdifferent.blogspot.com", as I felt it was appropriate at that point of time. But that name was already occupied. Being occupied is not hijacking, but the creator of that blog just had one or two blogposts in all for years together. And thats what I call Name Hijacking. No use for anybody and still permanently occupied not allowing anyone else to use it either.
The same has been used as a great business model to make money by several people. Domain name sitters/hijackers get all the probable names of upcoming companies/organisations  or organisations that don't have an online presence till now registered and then demand a ransom to let go of these names to the companies. There is good amount of money to be made in this business and knowledge of SEO(search engine optimisation) can only help this business model further. All this business model needs is some students with idle time and some pocket money with some imagination. Well, I guess this post is a rant starting somewhere and ending somewhere else(probably due to the background songs and simultaneous chatting).