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From what I've read at IP law sites, if the domain was a PARODY of the trademark, then its okay--the Supreme Court ruled in favor of the rap group 2 Live Crew when they made a version of the Roy Orbison hit "Pretty Woman."
Your case appears to be different though. Instead of "IntelSucks.Com" or "IBMblows.Com" it seeks to piggyback on the trademark for purposes other than satire.
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"If you hate a person, you hate something in him that is part of yourself. What isn't part of ourselves doesn't disturb us." -- Herman Hesse
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