Walter Andri — January 28, 2006 — Business
References: money.cnn
2. Investment bank error in your favor. Collect an additional $1.43 billion. - The judge in billionaire Ronald Perelman's lawsuit against Morgan Stanley, exasperated by the latter's delays in handing over documents, instructs jurors to assume that the firm committed fraud. The bank insists it isn't stonewalling, just running into technology glitches. The jury awards Perelman -- who had sued Morgan over its role in his sale of Coleman to Sunbeam for stock that became worthless after an accounting scandal led to bankruptcy -- $1.45 billion in damages. Perelman had reportedly offered to settle for $20 million.
11. To leave a message, press ... right ... there ... no, a little lower ... that's it ... ah-h-h-h-h.
In July, Gerald Martin, the founder of a physicians' answering service in Westchester County, N.Y., is charged with computer tampering after a competing service discovers that its system has been hacked. Patients trying to reach their doctors were instead greeted with busy signals or the sounds of sexual moaning.
15. A perfectly good orgy of violence and mayhem, ruined.
In June a Dutch programmer releases software that lets players of Take-Two Interactive's Grand Theft Auto: San Andreas access sexually explicit content left in the game's source code by its developers. Already marked "Mature" for "blood and gore, intense violence, strong language, strong sexual content, and use of drugs," the game gets rerated "Adults Only," causing Target and Wal-Mart to pull it from stores. Take-Two's quarterly revenues fall $40 million short of projections.
11. To leave a message, press ... right ... there ... no, a little lower ... that's it ... ah-h-h-h-h.
In July, Gerald Martin, the founder of a physicians' answering service in Westchester County, N.Y., is charged with computer tampering after a competing service discovers that its system has been hacked. Patients trying to reach their doctors were instead greeted with busy signals or the sounds of sexual moaning.
15. A perfectly good orgy of violence and mayhem, ruined.
In June a Dutch programmer releases software that lets players of Take-Two Interactive's Grand Theft Auto: San Andreas access sexually explicit content left in the game's source code by its developers. Already marked "Mature" for "blood and gore, intense violence, strong language, strong sexual content, and use of drugs," the game gets rerated "Adults Only," causing Target and Wal-Mart to pull it from stores. Take-Two's quarterly revenues fall $40 million short of projections.
Trend Themes
1. Computer Hacking in Answering Services - The use of technology to tamper with a company's system is on the rise, and vulnerable industries such as answering services are being targeted more frequently.
2. Legal Consequences of Technology Glitches - As technology continues to play a central role in various industries, more legal cases are emerging where companies are held accountable for glitches or malfunctions that cost them dearly.
3. Accessing Hidden Content in Video Games - The discovery of new ways to access hidden content in popular video games is leading to unexpected consequences, such as games being rerated and pulled out of stores, causing financial losses to the publishers and retailers.
Industry Implications
1. Answering Service - The answering service industry has an opportunity to invest in more rigorous and sophisticated software security systems to prevent unauthorized access and tampering.
2. Banking and Finance - The finance industry needs to invest in better technology infrastructure and improve internal communication to avoid costly glitches and errors that can provoke legal action and reputational damage.
3. Video Game Development and Retail - The video game industry must find ways to balance creative expression and mature content with responsible marketing and consumer protection, by investing in advanced tools to test, certify, and monitor the quality and safety of their products.
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