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Posts Tagged ‘Law’

Citysearch.com is defrauding its advertising customers of millions of dollars by not only turning a blind eye to click fraud, but in fact encouraging it as well, according to a lawsuit filed in Los Angeles Superior Court by Kabateck Brown Kellner, LLP.

“Most click fraud cases involve companies that simply turn a blind eye to it,” said the victims’ attorney, Brian S. Kabateck, Managing Partner of Kabateck Brown Kellner. “Citysearch does this too, since it has no real program to prevent click fraud. But Citysearch goes beyond indifference to actively incentivizing click fraud. Citysearch’s motive is simple: clicks equal cash, whether they’re fraudulent or not.”

Kabateck recently won a multi-million dollar settlement from Yahoo! And was part of an earlier $90 million settlement from Google on behalf of advertisers who were victimized by click fraud. He also recently filed a federal class action suit against Google for fraud within its “AdWords” pay-per-click advertising system.

Citysearch, part of IAC/InterActiveCorp, which is headed by Barry Diller, pays commissions to its salespeople based on the number of clicks their customers’ ads receive, providing an incentive for click fraud, according to the lawsuit. Furthermore, the suit contends, contrary to Citysearch’s own representations to its advertisers, it takes no real steps to prevent click fraud. And when customers become victims of click fraud, Citysearch fails to adequately advise them that they have been victimized or refund the money paid to Citysearch for that fraudulent activity.

The lawsuit seeks to represent all people or entities in the United States who paid money for pay-per-click advertising through Citysearch.com. As detailed within the suit, the case of plaintiff Tom Lambotte shows Citysearch refusing to acknowledge blatant indications of click fraud.

Lambotte’s Citysearch ad received a total of 7 clicks (plus two more that he generated) between December 11 and 25, 2007. On December 26 he received a response from Citysearch to his December 22 request to cancel his ad. Suddenly, his ad began receiving 12 to 16 clicks a day, for a total of 69 clicks between December 26 and December 31, when his ad was finally cancelled. He received in these five days 10 times as many clicks as he had received in the previous two weeks. Despite this, Citysearch refused his repeated requests to reverse these charges.

Click fraud can be detected by software that can track suspicious patterns, such as repeated clicks from the same source. Although Citysearch assures its customers that it applies this technology, the experiences of many of its customers shows otherwise, according to the suit. Still, customers are led to believe that Citysearch is in fact actively fighting against click fraud.

According to Citysearch’s “Invalid Click Policy”: “Citysearch also has sophisticated algorithms to track sessions and user behavior on our site to assist us in identifying click patterns that would indicate invalid clicks. In the event we identify a click as invalid, our customers are not charged for such clicks.”

“Citysearch is operating contrary to its own contract with its customers,” Kabateck said.

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A Missouri woman was indicted on federal charges for fraudulently using an account on the social networking Web site MySpace, U.S. Attorney for the Central District of California Thomas P. O’Brien announced today. The woman posed as a teenage boy who feigned romantic interest in a 13 year-old girl, who later committed suicide after the “boy” spurned her and told her, among other things, that the world would be a better place without her.

Lori Drew, 49, of O’Fallon, Mo., was named in a four-count indictment returned this morning by a federal grand jury. The indictment charges one count of conspiracy and three counts of accessing protected computers without authorization to obtain information to inflict emotional distress on the girl who, because of juvenile privacy rules, is referred to in the indictment only as M.T.M.

The indictment alleges that Drew, along with others, registered as a member of MySpace under the name “Josh Evans.” Drew and her co-conspirators then used the Josh Evans account to contact M.T.M. and began what the girl believed was an on-line romance with a 16-year-old boy. In taking those actions, the indictment alleges, Drew and her co-conspirators violated MySpace’s terms of service that prohibit users from, among other things, using fraudulent registration information, using accounts to obtain personal information about juvenile members, and using the MySpace communication services to harass, abuse or harm other members.

After approximately four weeks of flirtatious communications between “Josh Evans” and M.T.M., Drew and her co-conspirators broke off the relationship. Within an hour, M.T.M. had hanged herself in her room. She died the next day.

“This adult woman allegedly used the Internet to target a young teenage girl, with horrendous ramifications,” said U.S. Attorney Thomas P. O’Brien. “After a thorough investigation, we have charged Ms. Drew with criminally accessing MySpace and violating rules established to protect young, vulnerable people. Any adult who uses the Internet or a social gathering Web site to bully or harass another person, particularly a young teenage girl, needs to realize that their actions can have serious consequences.”

To become a member of MySpace, individuals are required to submit registration information – including name and date of birth – and have to agree to certain terms of service that regulate their use of the Web site. Among other things, MySpace terms of service require prospective members to provide truthful and accurate registration information; to refrain from using any information obtained from MySpace services to harass, abuse or harm other people; to refrain from soliciting personal information from anyone under 18; to refrain from promoting information that they know is false or misleading; and to refrain from posting photographs of other people without their consent. The indictment alleges that Drew and her co-conspirators violated all of those provisions.

“Whether we characterize this tragic case as ‘cyber-bullying,’ cyber abuse or illegal computer access, it should serve as a reminder that our children use the Internet for social interaction and that technology has altered the way they conduct their daily activities,” said Salvador Hernandez, Assistant Director in Charge of the FBI in Los Angeles. “As adults, we must be sensitive to the potential dangers posed by the use of the Internet by our children.”

The conspiracy count carries a maximum statutory penalty of five years in federal prison. Each count of accessing protected computers, each of which alleges that the access was for the purpose of intentionally inflicting emotional distress on M.T.M., carries a maximum possible penalty of five years in prison.

An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent unless and until proven guilty. Drew will be summoned to appear for an arraignment in U.S. District Court in Los Angeles in June.

This case was investigated by special agents with the FBI in St. Louis and Los Angeles.

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Carl Icahn today announced that the following letter was delivered today to Yahoo! with the attached biographies of his ten nominees for the Yahoo! board.

Carl C. IcahnSECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY Carl C. Icahn AND HIS AFFILIATES FROM THE STOCKHOLDERS OF YAHOO! INC. FOR USE AT ITS ANNUAL MEETING, WHEN AND IF THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN ANY SUCH PROXY SOLICITATION. WHEN AND IF COMPLETED, A DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY WILL BE MAILED TO STOCKHOLDERS OF YAHOO! INC. AND WILL ALSO BE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION’S WEBSITE AT HTTP://WWW.SEC.GOV. INFORMATION RELATING TO THE POTENTIAL PARTICIPANTS IN A POTENTIAL PROXY SOLICITATION IS CONTAINED IN EXHIBIT 1 TO THE SCHEDULE 14A BEING FILED TODAY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Carl C. Icahn
ICAHN CAPITAL LP
767 Fifth Avenue, 47th Floor
New York, NY 10153

May 15, 2008
Roy Bostock
Chairman
Yahoo! Inc.
701 First Avenue
Sunnyvale, CA 94089

Dear Mr. Bostock:

It is clear to me that the board of directors of Yahoo has acted irrationally and lost the faith of shareholders and Microsoft. It is quite obvious that Microsoft’s bid of $33 per share is a superior alternative to Yahoo’s prospects on a standalone basis. I am perplexed by the board’s actions. It is irresponsible to hide behind management’s more than overly optimistic financial forecasts. It is unconscionable that you have not allowed your shareholders to choose to accept an offer that represented a 72% premium over Yahoo’s closing price of $19.18 on the day before the initial Microsoft offer. I and many of your shareholders strongly believe that a combination between Yahoo and Microsoft would form a dynamic company and more importantly would be a force strong enough to compete with Google on the Internet.

During the past week, a number of shareholders have asked me to lead a proxy fight to attempt to remove the current board and to establish a new board which would attempt to negotiate a successful merger with Microsoft, something that in my opinion the current board has completely botched. I believe that a combination between Microsoft and Yahoo is by far the most sensible path for both companies. I have therefore taken the following actions: (1) during the last 10 days, I have purchased approximately 59 million shares and share-equivalents of Yahoo; (2) I have formed a 10-person slate which will stand for election against the current board; and (3) I have sought antitrust clearance from the Federal Trade Commission to acquire up to approximately $2.5 billion worth of Yahoo stock. The biographies of the members of our slate are attached to this letter. A more formal notification is being delivered today to Yahoo under separate cover.

While it is my understanding that you do not intend to enter into any transaction that would impede a Microsoft-Yahoo merger, I am concerned that in several recent press releases you stated that you intend to pursue certain “strategic alternatives”. I therefore hope and trust that if there is any question that these “strategic alternatives” might in any way impede a future Microsoft merger you will at the very least allow shareholders to opine on them before embarking on such a transaction.

I sincerely hope you heed the wishes of your shareholders and move expeditiously to negotiate a merger with Microsoft, thereby making a proxy fight unnecessary.

Sincerely yours,
CARL C. ICAHN

SLATE BIOGRAPHIES

  • Lucian A. Bebchuk

Lucian A. BebchukLucian Bebchuk is the William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance and Director of the Program on Corporate Governance at Harvard Law School. Bebchuk is also a Research Associate of the National Bureau of Economic Research and Inaugural Fellow of the European Corporate Governance Network. Trained in both law and economics, Bebchuk holds an LL.M. and S.J.D. from Harvard Law School and an M.A. and Ph.D in Economics from the Harvard Economics Department. He joined the Harvard Law School faculty in 1986 as an assistant professor, becoming a full professor in 1988, and the Friedman Professor of Law, Economics and Finance in 1998. Bebchuk has written extensively on corporate governance, corporate control, and corporate transactions. He has published more than seventy research articles in academic journals in law, economics, and finance. Upon electing him to membership in 2000, the American Academy of Arts and Sciences cited him as “[o]ne of the nation’s leading scholars of law and economics,” who “has made major contribution to the study of corporate control, governance, and insolvency.” He is the 2007-2008 President of the American Law and Economics Association, and a former chair of the Business Association Section of the American Association of Law Teachers. Bebchuk’s recent writings include Pay without Performance: the Unfulfilled Promise of Executive Compensation (Harvard University Press, 2004, co-authored with Jesse Fried), “The Case for Increasing Shareholder Power” (Harvard Law Review, 2005), “The Costs of Entrenched Boards” (Journal of Financial Economics, 2005, co-authored with Alma Cohen), and “The Myth of the Shareholder Franchise” (Virginia Law Review, 2007). Bebchuk has been a frequent contributor to policy making and public discourse in the corporate governance area. He has appeared before the Senate Finance Committee, the House Committee of Financial Services, and the SEC. He has published many op-ed pieces, including in the Wall Street Journal, the New York Times, and the Financial Times. He was included in the list of “100 most influential people in finance” of Treasury & Risk Management and the list of “100 most influential players in corporate governance” of Directorship magazine.

  • Frank J. Biondi, Jr.

Frank J. Biondi, Jr.Since March 1999, Mr. Biondi has served as Senior Managing Director of WaterView Advisors LLC, an investment advisor organization. From April 1996 to November 1998, Mr. Biondi served as Chairman and Chief Executive Officer of Universal Studios, Inc. From July 1987 to January 1996, Mr. Biondi served as President and Chief Executive Officer of Viacom, Inc. Mr. Biondi is a director of Amgen Inc., Cablevision Systems Corp., Hasbro, Inc., The Bank of New York Mellon Corporation and Seagate Technology. Mr. Biondi is a graduate of Princeton University and earned a Masters of Business Administration from Harvard University.

  • John H. Chapple

John Chapple is President of Hawkeye Investments LLC, a privately-owned equity firm investing primarily in telecommunications and real estate ventures frequently working in conjunction with Rally Capital LLC. Prior to forming Hawkeye, John Chapple worked to organize Nextel Partners, a provider of digital wireless services in mid-size and smaller markets throughout the U.S. He became the President, Chief Executive Officer and Chairman of the Board of Nextel Partners and its subsidiaries in August of 1998. Nextel Partners went public in February 2000 and was traded on the NASDAQ Exchange. In June 2006, the company was purchased by Sprint Communications. From 1995 to 1997, Mr. Chapple was the President and Chief Operating Officer for Orca Bay Sports and Entertainment in Vancouver, B.C. During Mr. Chapple’s tenure, Orca Bay owned and operated Vancouver’s National Basketball Association and National Hockey League sports franchises in addition to the General Motors Place sports arena and retail interests. From 1988 to 1995, he served as Executive Vice President of Operations for McCaw Cellular Communications and subsequently AT&T Wireless Services following the merger of those companies. From 1978 to 1983, he served on the senior management team of Rogers Cablesystems before moving to American Cablesystems as Senior Vice President of Operations from 1983 to 1988. Mr. Chapple, a graduate of Syracuse University and Harvard University’s Advanced Management Program, has 26 years of experience in the cable television and wireless communications industries. Mr. Chapple is the past Chairman of Cellular One Group and CTIA-The Wireless Association, past Vice-Chairman of the Cellular Telecommunications Industry Association and has been on the Board of Governors of the NHL and NBA. Mr. Chapple serves on the Syracuse University Board of Trustees currently as Chairman and the Advisory Board for the Maxwell School of Syracuse University. He is also on the Board of Directors of Cbeyond, Inc., a publicly traded Atlanta-based integrated service telephony company; Seamobile Enterprises, a privately held company providing integrated wireless services at sea; Telesphere, a privately held VOIP (voice over internet protocol) company based in Phoenix, Arizona; and on the advisory boards of Diamond Castle Holdings, LLC, a private equity firm based in New York City and the Daniel J. Evans School of Public Affairs at University of Washington.

  • Mark Cuban

Since early 2000, Mr. Cuban has been the majority and controlling owner of the National Basketball Association franchise, the Dallas Mavericks. In 2001, Mr. Cuban co-founded HDNet, an all high-definition television network on DIRECTV that broadcasts high-definition sports, movies and other entertainment. Prior to his purchase of the Dallas Mavericks, Mr. Cuban co-founded Broadcast.com in 1995 and served as its Chairman of the Board until it was sold to Yahoo! in July of 1999. Before Broadcast.com, Mr. Cuban co-founded MicroSolutions, a national systems integrator, in 1983, which was later sold to CompuServe Corporation in 1990. Mr. Cuban is an active investor in cutting- edge technologies and various industries, including the entertainment industry.

  • Adam Dell

Since January 2000, Mr. Dell has served as the Managing General Partner of Impact Venture Partners, a venture capital firm focused on information technology investments. He also serves as Managing Director at Steelpoint Capital Partners, a private equity firm with offices in New York and California. From October 1998 to January 2000, Mr. Dell was a Senior Associate and subsequently a Partner with Crosspoint Venture Partners in Northern California. From July 1997 to August 1998, he was a Senior Associate with Enterprise Partners in Southern California. From January 1996 to June 1997 Mr. Dell was associated with the law firm of Winstead Sechrest & Minick, in Austin, Texas, where he practiced corporate law. Mr. Dell’s investments include: Buzzsaw (which was acquired by Autodesk), HotJobs (which was acquired by Yahoo!) and Connectify (which was acquired by Kana Software). Mr. Dell has been a director of XO Holdings, Inc., a telecommunications services provider, since February 2006, and of its predecessor from January 2003 to February 2006. In addition, Mr. Dell currently serves on the boards of directors of the Santa Fe Institute, MessageOne and OpenTable. He also teaches a course at the Columbia Business School on business, technology and innovation and is a contributing columnist to the technology publication, Business 2.0. Mr. Dell received a J.D. from University of Texas and a B.A. from Tulane University.

  • Carl C. Icahn

Mr. Icahn has served as chairman of the board and a director of Starfire Holding Corporation, a privately-held holding company, and chairman of the board and a director of various subsidiaries of Starfire, since 1984. Since August 2007, through his position as Chief Executive Officer of Icahn Capital LP, a wholly owned subsidiary of Icahn Enterprises L.P., and certain related entities, Mr. Icahn’s principal occupation is managing private investment funds, including Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Partners Master Fund II L.P. and Icahn Partners Master Fund III L.P. Prior to August 2007, Mr. Icahn conducted this occupation through his entities CCI Onshore Corp. and CCI Offshore Corp since September 2004. Since November 1990, Mr. Icahn has been chairman of the board of Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises L.P. Icahn Enterprises L.P. is a diversified holding company engaged in a variety of businesses, including investment management, metals, real estate and home fashion. Mr. Icahn was chairman of the board and president of Icahn & Co., Inc., a registered broker- dealer and a member of the National Association of Securities Dealers, from 1968 to 2005. Mr. Icahn has served as chairman of the board and as a director of American Railcar Industries, Inc., a company that is primarily engaged in the business of manufacturing covered hopper and tank railcars, since 1994. From October 1998 through May 2004, Mr. Icahn was the president and a director of Stratosphere Corporation, the owner and operator of the Stratosphere Hotel and Casino in Las Vegas, which, until February 2008, was a subsidiary of Icahn Enterprises L.P. From September 2000 to February 2007, Mr. Icahn served as the chairman of the board of GB Holdings, Inc., which owned an interest in Atlantic Coast Holdings, Inc., the owner and operator of The Sands casino in Atlantic City until November 2006. Mr. Icahn has been chairman of the board and a director of XO Holdings, Inc., a telecommunications services provider, since February 2006, and of its predecessor from January 2003 to February 2006. Mr. Icahn has served as a Director of Cadus Corporation, a company engaged in the ownership and licensing of yeast-based drug discovery technologies since July 1993. In May 2005, Mr. Icahn became a director of Blockbuster Inc., a provider of in-home movie rental and game entertainment. In October 2005, Mr. Icahn became a director of WestPoint International, Inc., a manufacturer of bed and bath home fashion products. In September 2006, Mr. Icahn became a director of ImClone Systems Incorporated, a biopharmaceutical company, and since October 2006 has been the chairman of the board of ImClone. In August 2007, Mr. Icahn became a director of WCI Communities, Inc., a homebuilding company, and since September 2007 has been the chairman of the board of WCI. In December 2007, Mr. Icahn became a director of Federal-Mogul Corporation, a supplier of automotive products, and since January 2008 has been the chairman of the board of Federal-Mogul. In April 2008, Mr. Icahn became a director of Motricity, Inc., a privately-held company that provides mobile content services and solutions. Mr. Icahn received his B.A. from Princeton University.

  • Keith A. Meister

Since March 2006, Keith Meister has served as Principal Executive Officer and Vice Chairman of the Board of Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises L.P., a diversified holding company engaged in a variety of businesses, including investment management, metals, real estate and home fashion. Since November 2004, Mr. Meister has been a Managing Director of Icahn Capital LP, the entity through which Carl C. Icahn manages third party private investment funds. Since June 2002, Mr. Meister has served as senior investment analyst of High River Limited Partnership, an entity primarily engaged in the business of holding and investing in securities. Mr. Meister also serves on the boards of directors of the following companies: XO Holdings, Inc., a telecommunications company; WCI Communities, Inc., a homebuilding company; Federal-Mogul Corporation, a supplier of automotive products; and Motorola, Inc., a mobile communications company. With respect to each company mentioned above, Carl C. Icahn, directly or indirectly, either (i) controls such company or (ii) has an interest in such company through the ownership of securities. Mr. Meister received an A.B. in government, cum laude, from Harvard College in 1995.

  • Edward H. Meyer

Mr. Meyer serves as Chairman, Chief Executive Officer and Chief Investment Officer of Ocean Road Advisors, Inc., an investment management company. From 1970 to 2006, he served as Chairman, Chief Executive Officer and President of Grey Global Group, Inc., a multi-billion dollar global advertising and marketing agency. Mr. Meyer serves as a Director of Harman International Industries, Inc., Ethan Allen Interiors, Inc., National CineMedia, Inc. and NRDC Acquisition Corp. Mr. Meyer holds a B.A. in Economics from Cornell University.

  • Brian S. Posner

Brian S. Posner is a private investor. From 2005 through March 2008, he served as Chief Executive Officer and co-Chief Investment Officer of ClearBridge Advisors LLC (and its predecessor company, CAM North America), an asset management company based in New York with approximately $90 billion in assets and a wholly owned subsidiary of Legg Mason Inc. Prior to ClearBridge Advisors, he was a co-Founder and the Managing Partner of Hygrove Partners LLC, a hedge fund company that was formed in 2000. Prior to ClearBridge Advisors and Hygrove Partners, he served as a Portfolio Manager and an Analyst, first at Fidelity Investments from 1987 to 1996 and then at Warburg Pincus Asset Management/Credit Suisse Asset Management from 1997 to 1999. At Warburg Pincus Asset Management/Credit Suisse Asset Management he was a Managing Director and served as the Senior Investment Manager of the Value Equity Group, co-Portfolio Manager of the Warburg Pincus Growth & Income Fund, and Portfolio Manager of the Warburg Pincus Institutional Value Fund and the Warburg Pincus Trust, Growth and Income Fund. Prior to the acquisition of Warburg Pincus Asset Management (“WPAM”) by Credit Suisse Asset Management in July 1999, he was co-Chief Investment Officer, Director of Research, Chairman of the Global Asset Allocation Committee, and a member of the Executive Operating Committee at WPAM. At Fidelity Investments, he was the Portfolio Manager of the Fidelity Equity Income II Fund from 1992 to 1996 and the Fidelity Value Fund from 1990 to 1992. He also managed the Select Life Insurance, Select Property Casualty Insurance and Select Energy Portfolios. From 1987 to 1990, he was an Oil, Insurance, and Financial Services Analyst. From August 2000 to April 2003 he served on the Board of Directors for Sotheby’s Holdings, Inc. He currently a member of the Board of Trustees at Northwestern University and the Board of Visitors for the Weinberg College of Arts and Sciences at Northwestern University. Mr. Posner received his undergraduate degree in history from Northwestern University in 1983 and his M.B.A. in finance from the University of Chicago Graduate School of Business in 1987.

  • Robert K. Shaye

Robert Shaye is Co-Chairman and Co-CEO of New Line Cinema. As the Founder of New Line Cinema and a filmmaker himself, Robert Shaye has spent more than 40 years developing and distributing films that reflect a wide array of cultural movements, creating new paradigms for the motion picture business, and most importantly, entertaining millions of moviegoers. Since he founded New Line in 1967, Shaye has guided the company’s growth from a privately-held art film distributor to one of the entertainment industry’s leading independent studios and a veritable box office force. He has been involved in such films as The Lord of the Rings trilogy, Rush Hour, Austin Powers and Seven. A University of Michigan graduate with a degree in business administration and a J.D. degree from Columbia University Law School, Shaye is also a Fulbright Scholar, member of the New York State Bar, and serves on the Board of Trustees of the Motion Picture Pioneers, and the American Film Institute.

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The Department of Justice announced the distribution of $5 million in new funds to support Project Safe Childhood, the Department’s initiative that combats technology-facilitated sexual exploitation crimes against children. The money will fund 43 new Assistant U.S. Attorney positions across the nation to prosecute these offenses, which remain a high priority for the Department of Justice.

Deputy Attorney General Mark Filip announced the new positions, saying: “Anyone who uses the Internet to prey on children will become the primary target of law enforcement. These additional resources back up this commitment.” Filip made the announcement in visits to the U.S. Attorneys’ Offices in Charlotte, N.C., and Lexington, Ky. Both offices received one of the newly created positions, which were awarded on a competitive basis among the many districts with demonstrated records of successfully prosecuting sexual crimes against children. No district was awarded more than one new position.

This announcement was made as part of Project Safe Childhood. In February 2006, the Department of Justice launched the Project, which is a nationwide initiative designed to protect children from online exploitation and abuse. Led by the U.S. Attorneys’ Offices, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals, who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit http://www.projectsafechildhood.gov/.

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Happy Birthday Spam; e-Weapon of Destruction turns 30.The first spam email is attributed to a creative marketer’s idea, dating back to 1978, 30 years ago this month. Inviting several hundred individuals to a product demonstration, Gary Thuerk used email because it was less expensive and faster than hundreds of letters or phone calls.

Three decades later, spam comprises up to 95 percent of all email, and up to 120 billion spam messages are sent each day according to various studies.

No mere annoyance, spam routinely launches viruses and worms that can wreak havoc in unprotected networks, compromise employee and customer personal data, and cost organizations millions of dollars. In fact, the FBI estimates that cyber crime costs U.S. businesses more than $67.2 billion annually. The Federal Trade Commission has declared spam to be a significant global tool in the propagation of financial crimes, and phishing email tops the Internal Revenue Service list of the 12 most serious tax scams.

Junk Mail.But this kinky, genderless, destructive personality, who turns 30 this week, is still absconding, and at large. Such finesse in it’s execution that we’re unable to get hold of this fellow, though he pops in each day, everyday.

Happy Birthday Spam! You owe me a piece of Chocolate Cake and $456.92 cents, PERIOD!

Brad Templeton has the word-to-word copy of the FIRST SPAM.

Courtesy: SECNAP Network Security and Brad Templeton.

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Dr. Shan Nair was announced today as the recipient of the 2008 Outstanding 50 Asian Americans in Business Award, presented by the Asian American Business Development Center (AABDC).

Dr. Shan Nair 2008 Outstanding 50 Asian Americans in Business.The awards honor Asian American entrepreneurs and executives with great achievements in business nationwide. In honor of the recipients, an awards dinner will be held May 28 at The Waldof-Astoria in New York City. The 2008 awards recognize achievements from 2007 and is the first and largest business award program for the Asian American business community.

“All this year’s award recipients have faced the challenges of running a business head-on with outstanding success. Asian Americans are a successful group of individuals and this is why our organization wants to recognize the talent among the community,” says John Wang, president of AABDC.

Dr. Shan Nair, Co-Founder of Nair & Co is an Oxford University trained Ph.D. nuclear physicist and Charter Member of TiE-Boston and has a unique blended background in high technology, software and accounting. Dr. Nair has lived in 13 countries in South East Asia, Europe and the Middle East becoming multi-lingual in the process and placing him in an excellent position to understand international issues. When the Chernobyl accident occurred, he was one of the two UK technical experts assisting the European Commission on its post-accident risk assessment.

Once the UK power generation industry was privatized in the early 1990s, he retrained as an accountant within the industry and left to found Nair and Co. He introduced and trained UK legal practices in the Law Society’ Practice Management Standards and now uses his expertise to ensure Nair’s quality standards for clients continue to reflect the Sarbanes-Oxley (SAS-70) certification requirements. Dr. Nair is also responsible for the overall development of the group’s policies, strategies and goals. He has driven the company’s strong focus on using IT to leverage business advantage.

The award program also serves as an advocacy channel for many corporations to demonstrate their support for cultural diversity by nominating distinguished Asian American executives for the program. Previous award winners include Grace Wu Vice President of Merrill Lynch; Vivek Shah, President of Digital Publishing, Business & Finance Network at Time Inc.; Sandeep Gupta, Principal of Deloitte & Touche, LLP; Grace Hwang, Director of Reporting & Analysis at Verizon Wireless; Rachel Lam, Senior Vice President of Investments & Group Managing Director at Time Warner; Nawzer Parakh, Vice President for Operations & Global Business Manufacturing Director at The Dow Chemical Company; and Ansso Wang, Assistant Vice President of Corporate and International Affairs at American International Group (AIG).

For more information about the Outstanding 50 Asian Americans in Business Awards visit http://www.outstanding50.com/.

About Nair & Co

Nair & Co provides businesses an integrated solution geared to making your company’s thrust to expanding business overseas less risky, stress free and more strategic in the finance, tax, HR, compliance and legal arenas. Specialized in working with the unique challenges of US-based technology companies, Nair & Co has headquarters in the UK and offices in USA, China, Japan and India and acts for nearly 700 foreign operations in over 40 countries. Nair & Co employs highly qualified international specialists as your one point of contact client service directors to support your international registration, tax, accounting, compliance, HR and payroll needs. Our unrivalled knowledge base, attention to detail and superior work ethics protect your company’s operations more effectively and save you time and money in the long run. For more information, visit http://www.nair-co.com.

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Obama\'s faith outreach; how high food prices are affecting the organic food market; and a discussion on whether \COVER:The Post-American World” (p. 24). Newsweek International Editor Fareed Zakaria, in an excerpt from his forthcoming book, “The Post-American World,” writes that in America “we are still debating the nature and extent of anti-Americanism. One side says that the problem is real and worrying and that we must woo the world back. The other says this is the inevitable price of power and that many of these countries are envious – and vaguely French – so we can safely ignore their griping. But while we argue over why they hate us, ‘they’ have moved on, and are now far more interested in other, more dynamic parts of the globe. The world has shifted from anti-Americanism to post- Americanism.” In the excerpt, Zakaria explores not the decline of America but “the rise of the rest – the rest of the world.”

POLITICS:Obama’s New Gospel” (p. 32). Washington Correspondent Eve Conant and Senior White House Correspondent Richard Wolffe report on the efforts of Barack Obama’s campaign to get the word out to religious voters that the candidate is serious about their concerns and that his relationship with the Rev. Jeremiah Wright Jr. is over. Voters in Indiana want to know if Obama believes Wright’s more controversial statements and what is the status of their relationship.

POLITICS:A Turbulent Pastor” (p. 34). White House Correspondent Holly Bailey reports on Pastor John Hagee, the San Antonio televangelist who has offended Roman Catholics and other groups, and his endorsement of John McCain. McCain and his aides draw a sharp distinction between his relationship to Hagee and Obama’s ties to the Rev. Wright. McCain’s aides attribute the Hagee controversy to poor vetting. But even some Republicans (not affiliated with the campaign) privately wonder how the pastor’s extreme views slipped through without notice.

TRAGEDY:She Thought She Could Do Better” (p. 40). Washington Correspondent Eve Conant reports on the apparent suicide of “the D.C. Madam” Deborah Jeane Palfrey. During the course of numerous conversations with Newsweek over the last year, Palfrey portrayed herself as a self-made woman looking for the American Dream and as a feminist who wanted to “empower” woman. She made available to Newsweek a half-finished 95-page memoir she described as “my little literary undertaking.” Her story – about her “little cottage industry” – provides a revealing insight into the motives and lifestyles of high-end prostitutes.

JUSTICE:Look Past Polygamy” (p. 42). Los Angeles Bureau Chief Andrew Murr reports that for decades, the lessons of the disastrous 1953 raid on the polygamous community of Short Creek, Arizona, home to the roughly 500 men, women and children of the Fundamentalist Church of Jesus Christ of Latter Day Saints, had exerted great influence on law enforcement’s attitudes toward FLDS. And now all are watching to see what will happen in Eldorado, Texas, following last month’s raid on the Yearning for Zion Ranch.

TECHNOLOGY:The Art of Mayhem and Murder” (p. 43). General Editor N’Gai Croal reviews Grand Theft Auto IV, after playing it 10 hours or so. He writes that it’s a “much slower burn” than its predecessors, which introduced you much sooner to the mayhem “that has twisted its critics’ knickers.” Croal writes that for the first several hours it’s all about the relationships your alter ego Niko Bellic has, before you even see a gun.

PROJECT GREEN:A Chain That Pigs Would Die For” (p. 45). General Editor Anna Kuchment reports on Chipotle Mexican Grill CEO Steve Ells’s success with his mission to serve humanely raised, sustainably grown food at his restaurants, including meat and dairy products that are free of antibiotics and hormones. Since launching what it calls Food With Integrity, Chipotle has been serving sour cream and cheese free of the hormone rBGH, organic beans, and naturally raised pork, chicken and meat. Last month it announced it would buy locally grown produce whenever possible.

Natural Response” (p. 48). Midwest Bureau Chief Keith Naughton reports that with food prices rising, sales of organic food are starting to wane. The healthy-food craze mushroomed this decade, growing 150 percent since 2001 to reach $19 billion in sales last year. But now with gas near $4 a gallon, the $7 gallon of organic milk doesn’t look as good. After years of 20 percent annual sales growth, consumers are curtailing their consumption of organics, according to market researcher the Hartman Group.

Empty-Net Syndrome” (p. 49). Special Correspondent Paul Tolme reports that for the first time, federal and state fisheries officials have closed the salmon harvest season in California and in most of Oregon. The reason: Only 90,000 fish returned last fall to the Sacramento River chinook run, down 90 percent from just a few years ago. Experts blame water diversions for agriculture and communities, pollution, dams that have cut off salmon from their upstream spawning grounds and unfavorable ocean conditions that diminished food sources in the Pacific.

TELEVISION:Legend or Loser: Does ‘Seinfeld’ Still Hold Up After 10 Years?” (p. 58). Nope. Arts and Entertainment Editor Marc Peyser writes that when “Seinfeld” went off the air 10 years ago, it was widely considered to be a classic, and many fans call it the best sitcom ever. “Was it either? Or neither,” he writes. “As someone who doesn’t dip into its bottomless rerun pool very much, I was surprised when I sat down with the show again by how poorly ‘Seinfeld’ holds up. What once seemed smart … feels like shtik. The pacing-no show had ever packed in so many scenes, some of them lasting a few seconds-now seems formulaic and forced.”

Yep.” (p. 59). Senior Editor David Noonan counters Peyser, and writes that the show is still funny, mostly because of the supporting cast of characters that play off the four leads, such as Newman, George’s parents and Jerry’s parents. “Although it’s about four friends in New York in the ’90s, ‘Seinfeld’s’ best jokes have almost nothing to do with all that, another reason it endures. The contamination of Jerry’s car by a parking valet’s lethal BO, Kramer’s finding the old Merv Griffin set and turning his apartment into a talk show, the invention of the Mansiere.”

TIP SHEET:Cutting Back Your Hours” (p. 60). Chicago Correspondent Karen Springen reports that today more than 25 million Americans work part time and employers are making it easier to work fewer hours: 36 percent now give employees the chance to work part time, according to a survey. Springen offers some guidance on how to work part time successfully: know how to land the job, set ground rules up front and be flexible.

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