Tag: share

US advances cyber threat bill

National-Security-Agency--008A move that would allow the US government to share cyber information with private companies has been given the nod by a key committee.

The US Senate Intelligence Committee voted 14-1 on Thursday to approve a bill intended to enhance information sharing between private companies and intelligence agencies about cybersecurity threats.

The Bill will go to the Senate where it is expected to get a full backing – after all many private companies would like all that data that the US intelligence services collect and are quite happy to pay their tame Senators to change the law to get it.

Privacy advocates opposed the bill, worrying that it would do too little to prevent more data collection by the National Security Agency and other US intelligence agencies.

Privacy concerns were cited by the only member of the committee who voted against the bill, Democratic Senator Ron Wyden of Oregon who saw it as another surveillance bill.

In practice the law is targeted at preventing the major cyber attacks and co-ordinate companies and government departments better. Microsoft, Lockheed Martin and Morgan Stanley, had pushed for a such a threat-sharing bill.

 

Icahn tries to talk up Apple shares

Carl_IcahnThe Tame Apple Press has teamed up with Apple shareholder Carl Ichan to see if they can talk up the price of Jobs’ Mob shares.

Icahn who owns pots of Apple shares thinks that they should be making him pots more cash – and what better way to do that than claim that they are undervalued.

Of course a shareholder thinking he should get more money for his stash is not news, but the Tame Apple Press seems to have decided to give him a leg up while promoting the value of their favourite toymaker.

Reuters, which is set to eclipse the New York Times as Apple’s favourite Public Relations expert, actually ran a story this morning where Ichan claimed that the iPhone maker’s stock should be trading at $216, far above its record high of $124.92 yesterday.

“At $216 per share, Apple – already the world’s most valuable company – would be worth about $1.3 trillion, or about the size of South Korea’s gross domestic product,” Reuters’  breathlessly said.

The company is valued at just over $700 billion currently.

Icahn said Apple should be trading at 20 times earnings per share, which taken together with net cash of $22 per share works out to $216 per share.  He didn’t say why he thought that, other than the fact that if he can convince enough thicko’s out there he is right, the share price will go up and he will be laughing all the way to the bank.

He added that if Apple introduces a TV in FY 2016 or FY 2017, we believe this “20X multiple is conservative.”   Apple TV, the Tame Apple Press had not heard that one.  It is also unlikely to be a big money spinner. The TV market is down the loo at the moment and there are plenty of nice looking Tellies out there sitting on shelves.  Jobs Mob is also yet to come up with a future proof idea since its Tablet fad started to die out.

To be fair Icahn, who is  Apple’s top 10 investors, does not only think he can convince people that the shares are worth more.  He thinks Apple should buy back more shares and raise its dividend.

Apple had cash reserves of about $178 billion as of December 27 and said last April it would return more than $130 billion to shareholders by the end of 2015.

Still Ichan’s alliance with the Tame Apple Press did make him a little richer.  Apple shares closed 2.3 percent higher at $124.88.

HP’s Autonomy shareholder peace pact shelved

munich-agreemnetIt looks like shareholders are not allowed to collude with HP board members to blame its god-awful Autonomy buy on the British company after all.

Shareholders and HP agreed to bury the hatchet so that they could sue the former owners of Autonomy. US district judge has said that such a deal was wrong because it absolves HP completely from any blame.

Judge Charles Breyer concluded in a San Francisco court filing that the shareholders appear to be relinquishing a whole universe of potential claims regarding HP governance and practices with no factual predicates that overlap the Autonomy acquisition – the subject of this litigation.

He rejected the motion for preliminary approval of the second amended settlement. Judge Breyer added that HP had abdicated its duty to ensure that shareholders’ rights were being protected.

HP bought UK data search and analysis firm Autonomy for $10 billion, but a year later it claimed it found “serious accounting improprieties” and had to write off $8.8bn from the transaction.

Autonomy has denied any wrongdoing and argued that it played by the rules and HP knew about its accounting practices prior to the buyout.

HP said it was disappointed the court did not approve the settlement as submitted, the court recognised that a settlement releasing the HP directors and officers from Autonomy-related claims ‘represents a fair and reasonable resolution of the litigation’ HP remains committed to holding the architects of the Autonomy fraud accountable.

 

MPAA only wants to save pirates from malware

0099413191_LIt turns out that when the MPAA sues you for $100,000 for every file you share it is just because it is trying to save you from malware.

Lobbying outfit Motion Picture Association of America (MPAA) said it is concerned that intellectual property pirates are being exposed to malware and other dangers.

It told US trade officials that the websites that traffic in infringing movies, television shows, and other copyrighted content do not harm only the rights holder. Malicious software or malware, which puts Internet users at risk of identity theft, fraud, ebola and Justin Bieber (we made the last two up).

The group added that “such risks jeopardise legitimate e-commerce and consumers” and that the “MPAA continues to work with global partners against criminal organizations and activities in an effort to protect consumers not only from the dangers of illicit audiovisual goods and services, but other potential threats, such as malware.”

So in other words the MPAA’s efforts to crush P2P piracy sites were not out of a fear that file-sharing will mean that the profits from such great films as Sex Tape and the The Legend of Hercules will be reduced. It is doing it to protect the poor pirates from evil malware makers.

Chris Dodd, the MPAA’s chairman, said in a statement that “Robust protection and enforcement of intellectual property rights both domestically and abroad are vital to ensuring the sustained growth of America’s creative industries.”