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Current Topic: Business

Ford Loses Data on 70,000 Workers
Topic: Business 8:49 pm EST, Dec 24, 2005

Personal and financial information about 70,000 active and former Ford Motor Co. white-collar workers was stolen along with the computer holding the company information in November, according to the automaker.
The stolen data includes names, addresses and Social Security numbers.
Ford began notifying employees of the theft this week. There is "no evidence indicating that there has been any identity theft or misuse of employee information" according to a company spokesperson.
Ford plans to pay for a credit-monitoring service for the people affected by the theft and is offering them a range of services.
Ford has notified Federal Bureau of Investigation, the U.S. Secret Service, the Federal Identity Theft Task Force and the three major credit reporting agencies of the theft.

Ford Loses Data on 70,000 Workers


H&R Blocked, Again
Topic: Business 8:49 pm EST, Dec 24, 2005

H&R Block has agreed to settle the latest in a series of lawsuits filed against it for its practice of "refund anticipation loans," or "payday loans."
The settlement was announced Dec. 21st, with a West Virginia Circuit Court judge scheduled to consider the agreement on Dec. 23rd.
The terms of the settlement would resolve claims in 22 states and the District of Columbia, as well as four class-action lawsuits in West Virginia, Ohio, Maryland, and Alabama.
Under the settlement, Block would pay claims to 8 million customers who took out payday loans between 1989 and 2005. The terms of the payout were not disclosed, but Block stated it would have to incur a third-quarter tax charge of $31 million to cover the claims.
The settlement would not affect a case pending in Chicago against Block and its partner, HSBC Financial Services, for racketeering charges in relation to their pushing of payday loans on customers. A previous settlement offer was rejected, and the case is scheduled to go to trial in March 2006

H&R Blocked, Again


Ten Recurring Economic Fallacies, 1774–2004
Topic: Business 10:17 pm EST, Dec  8, 2005

As an American historian who knows something of economic law, having learned from the Austrians, I became intrigued with how the United States had remained prosperous, its economy still so dynamic and productive, given the serious and recurring economic fallacies to which our top leaders (political, corporate, academic) have subscribed and from which they cannot seem to free themselves—and alas, keep passing down to the younger generation.
Let’s consider ten.

Ten Recurring Economic Fallacies, 1774–2004


Bamboo Furniture For A Sustainable Future
Topic: Business 4:19 pm EST, Dec  4, 2005

EcoDesignz aspires to join the growing movement toward reducing the dependence on dwindling timber resources by producing and making available to the public high quality residential and commercial furnishings and accessories produced entirely from bamboo.
Due to recent technological advancements, it is now possible to convert raw bamboo culms into more conventional lumber and plywood such that it can be used to build virtually anything that traditionally has been made from wood. Our experience has shown that bamboo products are highly appreciated because not only does their unique grain and color add warmth and beauty not found in most hardwood products, but more importantly bamboos' incredibly fast growth cycle makes it an environmentally sound and sustainable alternative choice for almost anything made from wood, plastic or metal. And bamboos' inherent strength and hardness actually makes it a better option for many products such as tables, doors and flooring.

Bamboo Furniture For A Sustainable Future


Phishers use IRS tax refund as bait...
Topic: Business 7:52 pm EST, Dec  1, 2005

A spam e-mail message has been sent around the world telling people they are eligible for a $571.94 tax refund from the IRS. The e-mail offers a link to a fraudulent IRS Web site, but the link actually goes through a legitimate government Web site that only last month was promoted by President Bush.

"This is more advanced than the typical phish, because the Web link really does--at first--take you to the real tax benefit Web site," said Graham Cluley, senior technology consultant for U.K. security vendor Sophos. "Unfortunately the way the government Web site has been configured allows the phishers to bounce the unwary in their direction."

The link in the phishing e-mail goes to a forged IRS Web site that asks for a Social Security number, tax return filing code and credit card details including security code and PIN.

The scam takes advantage of a so-called open redirect on the GovBenefits.gov Web site. This open redirect lets anyone craft a link that to the untrained eye looks like it goes to the government site, but actually goes elsewhere on the Web. The following link, for example, goes to CNET News.com:

http://www.govbenefits.gov/govbenefits/externalLink.jhtml?url=http://www.news.com.

The government is aware of the issue and is working to fix it, a representative of the Department of Labor said Wednesday. The department manages the GovBenefits.gov Web site. The site is a collaborative effort of 16 federal agencies to increase access to government information and is part of the president's e-government initiative.

Phishers use IRS tax refund as bait...


Interview: Paul Griffin, CEO/founder of Griffin Technology
Topic: Business 12:09 am EST, Nov 18, 2005

For this week’s Engadget Interview, veteran journalist J.D. Lasica bumped into Paul Griffin, CEO of Griffin Technology, at the Portable Media Expo and Podcasting Conference in Ontario, Calif., on Friday. The self-effacing Griffin discusses the panoply of products his company puts out for gadget lovers, Apple’s dominance in the portable music market, and what’s ahead for Griffin in the peripherals space.

Interview: Paul Griffin, CEO/founder of Griffin Technology


EchoStar Gets Town to Change Name to Its Ticker: DISH
Topic: Business 11:29 pm EST, Nov 17, 2005

EchoStar Communications Corp., the second-largest U.S. satellite-television provider, said a 125- person town in Texas changed its name to DISH, the company's stock ticker, in exchange for free TV services.
Clark, Texas, legally changed its name to DISH yesterday at a city council meeting, Mayor Bill Merritt said at a press conference today. EchoStar in August made the offer of free programming for 10 years to a U.S. municipality willing to rename itself.

EchoStar Gets Town to Change Name to Its Ticker: DISH


Mexico Shop Owner, Coca-Cola Unit Clash
Topic: Business 11:07 pm EST, Nov 17, 2005

Mexico has imposed anti-monopoly fines of about $68 million against a Coca-Cola Co. subsidiary and dozens of distributors and bottlers, largely due to a three-year battle waged by one woman who got tired of being told what to sell at her one-room store in an impoverished Mexico City neighborhood.

Mexico Shop Owner, Coca-Cola Unit Clash


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