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You all should be ashamed!!
Forgot the SHM was this week, so I checked the board to see the posts. All I can say is wow........ What did you people expect?
I don't remember seeing a PR released with X number of units bringing Y number of dollars in. Did I miss this? Why on earth would Sprague and Wave hold this info back, just so he could hand all those that attended the SHM a neat little "here's some revenue" news just because you all have been so loyal over the years? Please, these guys are running a business. They don't owe you and I any special "gifts" of news or surprise revenue appear out of mid-air with a wave of Steven's hand. Christ, I would think at this point any revenue news would be released ASAP just so he could show the street Wave is here, not to give the longs, already holding many many shares another reason to "pick up another 10,000".
It's just plain greed. The same greed that drives the shorts and traders is driving you. The longs have just been on the wrong side of the coin, "not wanting to miss the big run up" Greed, plain and simple. Some of you need to take a step back and realize you're either here for the long haul, for better or worse, or this long slog ahead-yes I said long slog ahead- is going to chase you out of this equity. The tech takes a long time to enter and dominate the marketplace. In 1983 I was working for a record distributor. We are carrying compact disc, mostly classical, not many folks could afford a player. One of the first popular music cd's I remember coming out in a big way was Springsteen's Born In The USA in 1984. But most people still had vinyl. To my best recollection, compact discs really gained market domination towards the later part of the 80's or early 90's. A span of nearly 7/8 years. We may be looking at the same scenario here. Probably not as long to see the tech adapted because of the security/personal information issues we have today. I don't think the timeframe has started yet because we have not seen the product in the marketplace by more than a few manufacturers. The clock can start ticking when we have multiple manufacturers and we can say we know somebody who knows someone that has a machine with Embassy inside, or Wave's tech inside in whatever form it may be.
The rollout is out of our hands, and that is the most frustrating thing of all. Maybe not the most prudent way to get cash, but it could be the amount raised are based on the information the OEM's are giving them about product to the marketplace. One can only surmise
At this point, to moan about the direction of the company and more importantly, the share price, is more of a reflection of the shareholders unrealistic expectations at this juncture, and greed. GREED
Back to my exile,
Mymoneybgone
As we approach the impending holiday season, I think I am going to step away for awhile. Not that I post so frequently that it is going to be missed. More like the everyday reading of the boards and the following of the stock fluctuations. The past CC opened my eyes, as did plenty of the posts here on the board.
I believe the company is EXACTLY where it needs to be in the marketplace today. The handshakes and partnerships from the past are beginning to show fruit. For those that warn we are being led down the wrong path, that management is incompetent, well hell it's too late now, because if that's the case this company is dead in the water right now. Given the money situation it's dead, and the proof will come with the financing. If the last round was so crappy, damn near worst terms you could possibly have, than if they suck so bad we won't get anything here. Why finance a sinking ship, right?
Wrong. We will get the financing deal done. When they go to get financing done there should be some sort of numbers the company will have on hand for the number of motherboards Intel has moved by this time, at the very least.
If I can take anything away from my involvement in owning this equity it will certainly be the education I received. So many things. Saw first hand through the eyes of many hear why margin on a volitile stock can kill you. I have been fortunate enough to understand never to invest more than one can lose and it has served me well here. I can't say the same for some other folks here. DIVERSIFY, DIVERSIFY,DIVERSIFY. Glad I understood this tenet, but I could see some folks hadn't. The manupulation is amusing on both sides. Funny how short and long guttersnip at one another when the object for both is the same, make a profit. We all have the same objective here, just different ways of achieving it. Just because somebody is shorting a stock does not make them a bad person, it is an investing strategy. Just like buy and hold, and dollar cost averaging. Don't lose site of this. If you didn't read the message boards, their words would be meaningless.
I am almost done here. Man there has been a lot of waffling here the last year. Back in January of 2000 I made my first investmnent in Wave stock. I think i bought 48 shares. You read that right 48. And I saw my money double in a week and I bought more and saw it go up again. And I bought some more. And watched it go down. Eventually I watched the stocked and slowly bought more as the price settled near the bottom. And here we are today. My point is this. I seem to sense a greater frustration now than I did when the stock dropped from 40's into the single digits and everyone was getting wiped out from stop lose execution and margin etc.. I can't figure this out. The company has shown tangible progress. Companies are displaying WAVE'S name on their web sites, and not only the other way around. You can even go to other vendors and buy a product that has our technology in it. Where was this when we were at 48 a share. NO WHERE. Let it sink in. We were available no where.
Yet here we are after another CC and people are disappointed. Was there a press release stating actual difinitive numbers that were shipped in the third quarter? Have we seen a press release with hard numbers of product shipped yet in the fourth quarter? Why on earth would any rational person think we would have any numbers of substance to report. I don't think IBM, HP and INTEL are going to feel magnanimous enough to just hand us a few hundred thousand so the book looks good to appease the restless shareholder. At this point take heart in the burn rate and the reduction in lose per share to the shareholders. Face it, that's all we got right now, and no long term debt. You should have bought this stock because of the technology, your belief in the eventual acceptance of that technology. We are seeing a market being created before our eyes. We are seeing the price of high speed access drop. This will also create a demand for security as the number of permanent IP ports increase.
In due time we will see our reward. And I know many here want to be here at the moment it comes to pass. It will be a watershed moment, life altering for many. The past few years have also been for some folks, but in the wrong way. Maybe it is time to step back for awhile. Wave isn't going anywhere. Through yourselves into the holidays with the same fervor you display on this board. I am sure your families and friends would truly appreciate it. A respite might also prove refreshing for some whose resolve has been shaken. This is the perfect time of the year to back away. Even though it is early, Happy Holidays to all.
Dave
exclamation point his, not mine. eom
E-mail and response from Wave:
John,
Thanks for taking the time to read and possibly provide an answer to a question for me. Late last year we were included in a rollout of a PC with Packard Bell/NEC. I was just curious as to how well that went, activation rate wise. If you don't have the figures fine, but a ballpark estimate would suffice for me.
John Callahan @ WAVE_DOMAIN
XXXX --will you be listening in to the quarterly conf call tomorrow? All the
big issues are going to be addressed live!
Dave
People, how many times can you beat a dead horse. It's the same crap everyday. When is the share price going to move? Where is the news from the conference? Let's reality check here. Consumers could give a damn about tech shows. These are for the trade. Which brings me to my point. IBM has endorsed Wave, Intel has it on the board, NSM will be shipping product. WAVE DOES NOT NEED TO CONVERT ANYONE AT THESE SHOWS ANYMORE! The solution will be in the HP's, The IBM's and all the units that Intel ship's, along with NSM among others. These people that Wave spent all those years pushing a security soluition are going to have it and they won't even know how it happened! If it does what it is supposed to do, and I have to assume it does given the support shown by Intel-I can't imagine they would take a flyer on this thing if it did not work or would not sell. Companies this size cannot be bothered to support something by a company they did not think would be here 1 or 2 years from now, forget 6-8 months. Think about this, there is a demand for this security, but few people stopped buying PC's because they were not secure. These companies are creating a market, make no mistake it will be lucrative, but the companies are the ones that are going to be driving this and putting it into the marketplace, not the marketplace going on a spending strike until the product is available. And this is why Wave is in the sweetest spot of all, and we will see this clearly in the next 18 months for sure.
Ladies and gentlemen, there is no more "come to the show so Wave can take the wrapping off so you can ooh and aahhh." These days are gone for Wave, and the reflecting of this in the share price as well. The Street has seen the run up via the Intel news. The wavoid nation for years supplied the run up on news and hopes. Now, numbers will be what will dictate the steady upward movement in the stock. And that's the way I like it.
Dave
Could this be what gets HP off their ass and unleashing the Wave soloution with unbridled fury in their very own product line?
IBM, HP Square Off in High-Tech Battle
Sunday October 26, 12:06 pm ET
By Brian Bergstein, AP Technology Writer
Tech Titans IBM, Hewlett-Packard Designate Each Other Public Enemy No. 1
IBM Corp. made a bigger incursion than usual at this year's HP World -- a trade show for thousands of Hewlett-Packard Co. customers, equipment resellers and companies whose technologies work on HP computer systems.
IBM traditionally has a booth at HP World to display software that runs on HP systems. But at the August show in Atlanta, Big Blue urged attendees to depart HP World for a seminar about IBM's own systems, sweetening the offer with a drawing for a free convertible.
Meanwhile, IBM marketers drove around the Georgia World Congress Center handing out Lego building blocks to brag about the toy company's decision that week to replace HP computing systems with IBM products.
In a rivalry with big implications for these two U.S. technology stalwarts -- and for the companies, schools and governments that spend billions on their products -- IBM is doing its utmost to keep HP a wannabe.
HP picked this fight last year when it bought Compaq Computer Corp. for $19 billion, the biggest high-tech acquisition ever, and said it would challenge IBM's lead in lucrative corporate computing markets.
And while there is little sign that HP is even close to beating IBM at its own game, IBM isn't taking chances.
It has doubled the commissions it pays resellers who oust HP products. It beats its chest whenever it beats HP to a big contract, like one coming next week with Alpine Electronics Inc. And its people portray HP as a bit player in services and software -- which generate two-thirds of IBM's revenue.
"I don't ever see HP," said Scott Hebner, an IBM software vice president. "They don't bring any real software assets to the table."
The head of IBM's systems group, William Zeitler, contends HP is so worried about losses in the server market that it is aggressively cutting prices and possibly "stuffing" its sales channel -- artificially boosting revenue by giving resellers more products than they need. HP denies the charge.
Zeitler also predicts that most customers who spurn IBM servers will choose low-cost specialist Dell Inc., not HP.
IBM now pays a 10 percent commission, up from 5 percent, to certain resellers who get businesses to replace their HP equipment with IBM gear. IBM gives the same cut if it's Sun Microsystems Inc. that's on the losing end.
HP says it considered all the IBM broadsides a compliment. And it, too, offers a commission to sales partners who displace IBM or Sun -- 15 percent.
"It's not surprising IBM is trying to point their guns in our direction," said Jim Milton, an HP senior vice president in enterprise systems. "It's a testimony to how we're doing in the marketplace."
Zeitler called the commission increase a mere sign of IBM aggressiveness.
"We intend to move as many users as we can to our side, and use every weapon in our arsenal to do it," he said.
That battle helps customers.
At O.C. Tanner Co., a workplace services firm with IBM and HP servers, chief information officer Dave Berg said HP "bent over backwards" to keep IBM from making more inroads. HP let Berg try a server for free for six months before he finally decided to buy.
"I like the idea of having both of them captive, because in some ways, it keeps both of them honest," Berg said. "As long as they serve us well, what's the difference?"
Actually, both companies love to highlight their differences.
Armonk, N.Y.-based IBM, which generated $87 billion in revenue the last four quarters, is mainly focused on corporate and government markets, though it still makes consumer laptops. Meanwhile, Palo Alto, Calif.-based HP, which had $71 billion in revenue in the past year, also sells consumer printers, cameras and home entertainment devices.
When it comes to corporate computing, IBM makes more of what it sells, including Web infrastructure software and chips for several kinds of servers. IBM says its in-house assets help it shape products for customers in particular industries.
HP has its own network-management software but mainly incorporates software from other vendors, notably Microsoft Corp., BEA Systems Inc. and Oracle Corp. HP is banking heavily on Intel Corp.'s Itanium server chips, which HP co-developed.
HP says its approach helps customers get more out of their existing equipment instead of forcing them to buy all new stuff.
"IBM is using a page from the playbook of the '70s and '80s, which was: IBM's operating systems, IBM's applications, IBM's services," said Nora Denzel, who heads HP's "adaptive enterprise" service. "Ultimately that play was rejected."
HP says adopting technologies made by others is less expensive. But IBM has made similar bets -- it also offers servers with Intel processors and the open-source Linux operating system.
And there isn't much evidence IBM costs more.
Interland Inc., a Web hosting company with HP and IBM servers, recently shifted new purchases toward IBM. The two brands were "very similar," said John Lally, Interland's product management director, but "IBM was able to win on economics, which was our most important decision point."
IBM is the world's top server seller by revenue. HP sells more units, however, and is the top supplier of servers on the Linux and Windows operating systems.
Those are two fast-growing segments, but they also produce lower profit margins.
Another risk for HP is having "an awful lot on its plate," because it is spread across so many markets and is trying to cut costs, said analyst Charles King of the Sageza Group.
Also, while both companies' services divisions can help drum up hardware business, HP has only 65,000 employees in services to IBM's 180,000. IBM bolstered that by buying PricewaterhouseCoopers' consulting arm last year for $3.9 billion -- a deal HP explored in 2000 at about $17 billion.
"From HP's standpoint, the services side is where they still have a way to go versus IBM," said Meta Group analyst Rob Schafer.
Even so, HP and IBM had better get used to each other. There's only so much business to go around.
In April, Procter & Gamble Co. hired HP to take over its internal tech operations, a 10-year deal worth $3 billion. Five months later, P&G announced a 10-year, $400 million pact to turn over management of its human-resources department to IBM.
Each contract required HP and IBM to take hundreds of P&G employees on as their own, which means "both IBM and HP will be working collaboratively in several areas," P&G spokesman Damon Jones said.
"We don't see any reason," he added, "why these companies won't be able to work together, successfully."
OT I know a lot of you read the Investor's Business Daily. Just for the hell of it I decided to track the portfolio of stock's that was recommended in december of 02 for the upcoming year. At the end of trading last week the portfolio was up 46.94% including splits and holding every stock they selected, 29 in all. Only 4 of the 29 have lost money this year and 16 of those posting gains of 50% or better with ESI, YHOO, APPX and JCOM being triple digit winners and COH close behind. In my futile attempt at stock picking I poured over every prospectus that I was able to procur through Barron's probably well over 1400 companies through no scientific theories other than my own and incurring the wrath of my letter carrier who was bringing boxes for days on end, I was able to whittle the list down to 99 equities. So far showing a gain of 20.24% for the year. Top picks were TYL,PFI,BRL,CHS,EXAC,FINL,and CTSH. I was humbled by
FMK, LAN, RCII, CHUX. Found the IBD thing to be very impressive so far.
mymoneybgone
Not that it means anything, I had to make a pick-up today from NASA- somebody from the USPS has to do it. Lo and behold I see many boxes from DELL sitting all over the receiving floor. PC's servers etc. While I am killing time I notice some of the PC's they are working on, looks like 5 and 6 year old IBM's. Guy says he thinks this is just then start of the pc upgrades. Who knows what it means. I have been in a few federal buildings and it looks like they are all going to be upgrading here in the next 12-18 months. Lots of security stuff in all these buildings, and in the bowels of the airport where we get to go that the general public does not. I think this will bear some watching over the coming months. We have gone to security clearance with a background check and a picture ID, however I believe the security agencies would like to see some sort of swipable card for anyone that has business in these areas every day so access could be sped up. Again, this is just what I have seen and have heard in the course of my delivery and travels. Time will tell us how all these things could play out.
Dave
Mercedes-Benz AMG Uses ePad-ink E-Signature Solution from Interlink Electronics and Softpro to Automate Internal Document Processing
Tuesday September 23, 8:09 am ET
CAMARILLO, Calif. & AFFALTERBACH, Germany--(BUSINESS WIRE)--Sept. 23, 2003--Interlink Electronics Inc., (Nasdaq:LINK - News), a world leader in the development of interface technologies and e-signature solutions, and Mercedes-Benz AMG GmbH, a subsidiary of DaimlerChrysler AG, announced today that Mercedes-AMG has deployed Interlink's ePad electronic signature solution as part of an extensive project to control and optimize its internal document processes. Mercedes-Benz will utilize Interlink's ePad-ink signature device in conjunction with Softpro's SignDoc software to capture and verify handwritten signatures in electronic documents, as well as to secure their authenticity and integrity.
In 2002, Mercedes-AMG started a project (internal name ADS) to control and optimize internal processes. One of its aspects is to drastically reduce the usage of paper, allowing Mercedes-AMG to benefit from more efficient and more secure processes. In addition, the DaimlerChrysler group plans to install test platforms for similar applications in other sections. The project team expects to achieve substantial savings in time and money from the targeted processes.
The forms digitized as part of Mercedes' ADS project include documents with legal aspects such as test clearances, inspections reports and garage acceptances. The guidelines for product liability require a high level of security for these kinds of transactions and Mercedes-AMG uses ePad-ink to capture both handwritten signatures and invisible signature biometrics. Using software from Softpro, the system encrypts this data within each signed document in a way that it cannot be changed or re-used. Mercedes-AMG may also execute a "combo verification" using both the shape and biometrics of the signature to test whether it is statistically identical to that kept on-file for a registered signer.
"Industry leaders such as the DaimlerChrysler group are leveraging e-signature technology to streamline their manufacturing processes and reduce overhead costs," said Rod Vesling, Vice President of Sales and Marketing, E Transactions, Interlink Electronics, Inc. "Mercedes-AMG's automation of its manufacturing documents using Interlink's ePad-ink is a clear example. As e-signature deployment continues to enter the mainstream of global IT operations, Interlink, along with industry partners such as Softpro, is well positioned to deliver such cost-saving solutions."
About Mercedes-AMG
Since 1971 car lovers and motor sport enthusiasts worldwide are fascinated by three letters: AMG. 1971 saw Hans Heyer and Clemens Schickedanz surprisingly winning the 24-hour-race of Spa in their AMG-Mercedes 300 SEL 6.8. This was the breakthrough for the Mercedes refining manufacturer. Since that time AMG-fans agree: There is just one car that is more fascinating than a Mercedes -- a Mercedes of AMG. Right from the beginning AMG added innovations to Mercedes cars in the exterior and interior. Since 1999 the company is an affiliate of DaimlerChrysler.
While in the early days the tuning business was predominant, AMG is today a developer and production manufacturer. The company has achieved a superior reputation and is held in high regard by its competitors.
AMG now acts as a "think tank" and is closely connected with other affiliates of DaimlerChrysler. It has developed its own engines, chassis, brakes, aerodynamic design elements and body parts as well as the interior and elements of the on-board communications. With its innovations in the production process, Mercedes-AMG acts as a model company for increased efficiency in various workflow processes. Recently Mercedes-AMG invested approximately 20 Million Euro in new production lines. The heart of the plant's extension was the engine manufacturing process.
About Interlink Electronics
Interlink Electronics, Inc. (Nasdaq:LINK - News) is a global leader in the design and manufacture of intuitive interface technologies and products, including products to hand-sign electronic documents, forms and point-of-sale transactions. One of the Company's most popular e-signature products, ePad-ink, captures handwritten signatures using an LCD input screen. Visual feedback from the LCD during the signing process produces a natural signature shape while information displayed by the LCD underneath the signing area helps produce an intuitive signing context.
Interlink Electronics serves a world-class customer-base from its corporate headquarters in Camarillo, California, USA, and offices in Tokyo, Hong Kong and China. The company currently holds more than 70 patents on sensor technologies, e-signature technologies, wireless communications protocols and product design properties. See Interlink Electronics online at http://www.interlinkelectronics.com/ or in Japan at http://www.interlinkelec.co.jp/
About SOFTPRO
SOFTPRO is based in Boeblingen, Germany and has local subsidiaries for the North American and Asian-Pacific markets in Newark (Delaware) and Singapore. The company employs approximately 50 people worldwide. SOFTPRO is the leading vendor of systems for the verification of handwritten signatures, worldwide. The company's portfolio contains solutions for the electronics authentication of processes and documents in which the static and dynamic (biometric) characteristics of signatures are extracted and evaluated. See SOFTPRO online at http://www.softpro-na.com.
All registrations and trademarks are properties of their respective owners.
From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, new markets, new product introductions, technology adoption, and future business activities should be considered in light of these factors.
--------------------------------------------------------------------------------
Contact:
Interlink Electronics, Inc.
Company Media Contact:
Keith M. Roberts, 805-484-8855, ext. 130
kroberts@interlinkelec.com
or
Investor Information:
Michelle Lockard, 805-484-8855, ext. 114
mlockard@interlinkelec.com
http://www.interlinkelectronics.com/
or
Mercedes-AMG c/o DaimlerChrysler
Company Media Contact:
Cypselus C. von Frankenberg, ++49 711 17 758 46
cypselus.c.vonfrankenberg@daimlerchrysler.com
NASA Chooses Securit-E-Doc to Increase Security For Its Cybercommunications
Tuesday September 23, 10:39 am ET
Don't e-mail it! - S-Doc it!
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Sept. 23, 2003--Securit-e-Doc, Inc. is proud to announce its latest installation of Securit-e-Vault(TM) within the National Aeronautics and Space Administration's Office of Security. This is the latest version of its secure information repository and Internet delivery system for sensitive files and messages. This development represents a strategic step in NASA's proactive approach to implementing security solutions that protect sensitive communications. The Securit-e-Vault product paves the way for enabling NASA's staff and partners to securely leverage the Internet and easily share critical information amongst its authorized global users, without the common risks of e-mail.
"NASA is a key installation for the Company's secure communication solution. It demonstrates that our unique security technologies clearly meet the extraordinary challenges facing all levels of government that revolve around the secure storage of data and the audited sharing of Sensitive But Unclassified (SBU) electronic information. With real-time protection supplied by our products, organizations can now recognize the Internet as a secure platform for critical applications," said Rob Barron, Chairman and CEO of Securit-e-Doc, Inc.
Securit-e-Vault is a communication solution with a feature set similar to e-mail, that allows any employee, client or partner to send/retrieve/store/audit sensitive files and messages over the open Internet with nothing more than a Web browser. The software product includes a self-contained, secure data storage repository system with full audit capabilities protecting data both "in motion" and "at rest."
Tom Talleur, former head of the Network and Advanced Technology Crimes Division in the NASA IG's office observed, "For years NASA has sought a powerful, low cost, easy-to-use and deploy communications security and storage solution to meet the diverse range of needs of agency professionals. Securit-e-Vault and S-DOC allows users to conduct sensitive business securely without being distracted by security certificates, public-private key encryption, and other solutions requiring user intervention while avoiding the vulnerabilities of viruses and spam now plaguing e-mail."
Our server-based solution completely removes the complexities and costs of deploying public key systems (PKI) and virtual private networks (VPNs). Securit-e-Vault lets today's public and private sector enterprises securely conduct business over global networks without the risks identified in current virtual communication solutions.
Securit-e-Doc, Inc. builds products and technologies for server hardening, patch management and server-based, business end-to-end solutions. Securit-e-Vault(TM), a secure repository and complete Internet delivery and audit system for sensitive files and messages, leverages SITT®, our FIPS-140 compliant encryption technology. The Company's easy-to-use, automated product solutions apply transparent security, portability, secure virtual storage, and complete audit tracking to applications and information delivered across the open Internet. For more information, visit http://www.Securit-e-Doc.com.
Forward-Looking Statements: Statements regarding estimates, expectations and future prospects contained in this press release are forward-looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments, and other factors the Company believes are appropriate in the circumstances, or information obtained from third parties, and is subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements are not guarantees and that actual results might differ materially from those suggested in the forward-looking statements. Some of the factors that might cause future actual events to differ from those predicted or assumed include: future advances in technologies and computer security; the Company's ability to execute on its business plans; the Company's dependence on outside parties such as its key customers and alliance partners; competition from major computer hardware, software, and networking companies; uncertainties in availability of expansion capital in the future and other risks associated with capital markets; overall network security spending; global economic conditions; and recent changes in management. For a more complete discussion regarding forward-looking statements, the reader is referred to the Company's registration statement filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934.
Securit-e-Doc®, SITT®, Securit-e-Vault(TM) and S-Doc(TM) are registered trademarks or trademarks of Securit-e-Doc, Inc. Securit-e-Doc® Software and the SITT® Cryptosystem are patent pending and protected under the laws of the United States. Copyright (C) 2003 Securit-e-Doc, Inc. All Rights Reserved. Securit-e-Doc, Inc. reserves the right to revise this document or make changes to the specifications of the products described at any time without notice and without obligation to notify any person of such revision or change. Securit-e-Doc, Inc. makes no representation or warranty, express or implied, regarding the contents of this document and disclaims any implied warranties or conditions of merchantability or fitness for a particular purpose except to the extent that such disclaimers are held to be legally invalid.
--------------------------------------------------------------------------------
Contact:
Securit-e-Doc, Inc., West Palm Beach
Denise Cormier, 561-833-2303
Microsoft, IBM Set Standards Pact
Thursday September 18, 1:06 am ET
Microsoft Corp. (NasdaqNM:MSFT - News) Chairman Bill Gates made a rare appearance with an executive of International Business Machines Corp. (NYSE:IBM - News) as the two technology companies said they had agreed on industry standards for an important new area of computing, Thursday's Wall Street Journal reported.
The agreement involves Web services, a type of software that many computer experts believe will usher in a new era of secure but simple interconnections among computer systems at different companies.
At the event, in a New York hotel, Mr. Gates and IBM's software chief, Steve Mills, said the two companies had developed ways to let companies do business with each other over the Internet without having to write new software programs for each new customer or supplier.
They said they will allow other companies to use these standards royalty-free in the hope that that will boost customers' willingness to buy more computer equipment and software.
The joint appearance marked the first time top executives of Microsoft and IBM had appeared on the same stage since a famous falling-out in the early 1990s.
Wall Street Journal Staff Reporter William M. Bulkeley contributed to this report.
Microsoft, IBM Partner on Security Ideas
Wednesday September 17, 4:31 pm ET
By Jim Krane, AP Technology Writer
Microsoft, IBM Work on Ideas to Make Web Transactions Secure Across Rival Software
NEW YORK (AP) -- It's not often that Bill Gates is associated with the free Linux computer operating system, Netscape's Web browser or royalty-free software, but on Wednesday he embraced all three.
Gates, chairman of Microsoft Corp., sat through a computer demonstration running on Linux -- a competitor to Microsoft's Windows -- and the Netscape browser, a rival product that all but disappeared because of giveaways of Microsoft's Internet Explorer browser.
Gates attended a technical briefing at a Midtown Manhattan hotel, where Microsoft and software rival IBM Corp. touted so-called Web services, software aimed at streamlining Internet transactions.
Gates and IBM executive vice president Steve Mills said their companies' three-year collaboration had developed tools that will let computers conduct secure transactions whether they run Microsoft's Windows platform or others, such as IBM's WebSphere or the open-source Linux system that is given away.
"We're being as inclusive as we can," Gates said of Microsoft's role in the cross-platform project. "This is a fabric for someone to do e-commerce that's independent of the operating systems that are out there."
Mills said the companies had decided to cooperate even though the new standards also benefit rival companies and software.
"Standards are always a give-to-get bargain," he said.
The two executives said they would turn their developments over to Internet standards bodies.
Gates said the Redmond, Wash.-based company's work toward Web services standards would be "royalty free." That remark led to questions from the audience, which wanted to make sure Gates hadn't misstated the deviation from the company's royalty-based software sales model.
"I can't believe I said that," Gates joked.
Trusted Computing Group Software Stack Specification Announced for Development of Standards-Based Applications That Will Protect Data, Help Secure Platforms
Tuesday September 16, 11:40 am ET
TCG Members Showcasing Trusted Solutions in IDF Booth #917
SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 16, 2003-- The Trusted Computing Group -- an open industry standards organization whose specifications help vendors build products that let users protect critical data and information -- today announced the immediate availability of the Trusted Computing Group Software Stack specification. Application developers can use this software specification to develop interoperable client applications for more tamper-resistant computing.
The security features defined in the Trusted Computing Group Software Stack specification include attestation, authentication, and secure storage. The specification will enable developers to build applications that include security policies for trusted time stamping of transactions, trustworthy auditing and physical presence for policy activation. Applications based on this specification will be independent of the operating system type, enabling users to implement the applications across a variety of platforms.
TCG members Atmel, Hewlett-Packard Co., IBM, Infineon, Intel Corp., M-Systems, National Semiconductor, NTRU, Softex Inc., STMicroelectronics and Wave Systems Corp. are demonstrating available trusted computing solutions at the Intel Developer Forum, Booth #917.
"Over the last two years the need to prevent tampering, secure transactions, and protect data for both businesses and home users has gone from important to critical," said Rob Enderle, president of the Enderle Group. "The creation of an industry standard software specification addressing these trusted computing concerns is one of the most major steps on the path to meeting this critical need."
The Trusted Computing Group Software Stack specification provides a standard application programming interface to access the security-related functions of the Trusted Platform Module, or TPM. The resulting applications will build on security provided in hardware via the TPM, which is a small chip that protects key computing operations, handles cryptographic functions, stores integrity metrics and handles platform attestation. More than 4 million platforms with TPMs from a variety of manufacturers have been shipped to date by various systems vendors.
The Trusted Computing Group Software Stack specification also will more easily enable applications that build on existing PKCS#11 (Public Key Cryptography Standards) and MSCAPI (Microsoft CryptoAPI)-based applications, such as secure e-mail, that are already supported by the TPM.
The Trusted Computing Group Software Stack specification defines a device driver library, core services and the service provider that sit on top of the TPM. The specification's service provider is an object-oriented interface for applications that incorporate the full capabilities of a trusted platform, while the core services and device driver library provide necessary functions to manage resources and work with the TPM hardware.
The specification will be available on the organization's Web site, www.trustedcomputinggroup.org, and is available to any developer.
The Trusted Computing Group (TCG) is an open, industry standards organization formed to develop, define, and promote open standards for hardware-enabled trusted computing and security technologies, including hardware building blocks and software interfaces, across multiple platforms, peripherals, and devices. TCG specifications enable more secure computing environments without compromising functional integrity, privacy, or individual rights. The primary goal is to help users protect their information assets (data, passwords, keys, etc.) from compromise due to external software attack and physical theft. For more information, go to www.trustedcomputinggroup.org.
Sun Unleashes Breakthrough Sun Java(TM) Desktop System Offering Industry's First Affordable and Secure Desktop
Tuesday September 16, 12:13 pm ET
Desktop Solution Delivers Dramatic Cost Savings of Up to 75 Percent Compared to Alternatives - Major Partners Flock to Sun Including Adobe, Computer Associates, EDS and RealNetworks
SAN FRANCISCO, SunNetwork 2003 Conference and Pavilion, Sept. 16
/PRNewswire-FirstCall/ -- Sun Microsystems, Inc. (Nasdaq: SUNW - News) today broke
security, price and feature barriers in the enterprise desktop market with the
PC industry's first alternative in more than 15 years. Sun's desktop solution
includes the Sun Java(TM) Desktop System (formerly known as Mad Hatter)
secured by the now ubiquitous Java Card(TM) smartcard, the new StarOffice(TM)
7 productivity suite, and the latest enhancements to the Sun Ray(TM) product
line. The company also announced an outpouring of support from industry
leading Independent Software Vendors (ISVs) including Adobe, Computer
Associates and RealNetworks and a partnership with EDS to develop enterprise
migration and support services.
The Sun Java Desktop System delivers a secure, familiar, affordable desktop solution for enterprise customers. At $100 per desktop, the system includes the full desktop environment and the latest release of Sun's fastest growing open and affordable office productivity suite, StarOffice 7, the latest release of the Java(TM) 2 Standard Edition (J2SE) platform and the popular Mozilla browser, plus e-mail, calendaring and instant messaging applications.
"This week's onslaught of viruses and warnings make it painfully obvious that the proprietary desktop installed on 98 percent of the world's desktop PCs is a ticking time-bomb," said Jonathan Schwartz, executive vice president, Software at Sun. "Whether motivated by business continuity objectives, or a desire to save millions in licensing fees, enterprises, academic institutions and governments -- and ultimately consumers -- require a secure, credible and affordable alternative. By leveraging the security infrastructure in deployment on hundreds of millions of mobile phones and in use by the U.S. Government, the Java Card platform for microprocessor smartcard authentication is the foundation of the Java System, and its newest offering, the Java Desktop System."
According to research firm IDC, the installed base of paid Linux client operating environments will increase by 43.9 percent compound annual growth rate from 2002-2007. Market surveys show that close to 50 percent of Fortune 2000 CIOs are seriously considering alternative desktops based on cost and the need for more secure systems. Sun is responding to this demand by delivering three new breakthrough client technologies designed to drive down the cost and complexity of desktop computing.
Java Desktop System
The Sun Java Desktop System, which runs on x86- and SPARC®-based systems using either the Solaris(TM) OS or Linux OS, is designed to lower computing costs and reduce desktop management complexities while providing a familiar and secure environment. By focusing on interoperability and user familiarity, the Java Desktop System provides decision makers with a solution that plugs seamlessly into existing environments, working with current files, applications, systems and services.
The Java Desktop System supports connectivity to existing enterprise messaging servers as well as the new Java Enterprise System. Sun's desktop system also supports existing file and print services and includes the latest technology applications from RealNetworks, Adobe and Computer Associates.
"Computer Associates and Sun recognize the rising importance of Linux in the enterprise and are developing solutions to fully leverage its business potential," said Sam Greenblatt, senior vice president and chief architect for CA's Linux Technology Group. "CA is working closely with Sun to ensure that Java Desktop System adopters can effectively integrate this innovative desktop platform into their existing enterprise environments."
EDS Services Alliance
Sun and EDS recognize that a diverse workforce requires a flexible desktop solution that varies based on specific worker needs. EDS' support services will map to specific worker requirements across the enterprise and will help keep the platform more resilient. These services are an integral part of the Java Desktop Systems strategy, enabling customers to attain the security, reduced cost and increased reliability via the Java Desktop System.
"EDS is excited to support strategic alliance partner, Sun, in this unique desktop solution," stated Kim Stevenson, EDS Global Offering Executive, Desktop and Mobility Services. "We will assist Sun's efforts to drive down costs and complexity for the desktop environment by developing for customers a range of desktop services."
The Java Desktop System will be available in Q4 03 for $100 per desktop user. Each user license will include the right to have multiple installations of the Java Desktop on up to two systems so that users can share the same environment at home and at work. For those companies that choose to adopt the $100 per employee model deployed in Sun's Java Enterprise System, the desktop system will be made available for an incremental $50 per employee. For a limited time, Sun will also be offering an aggressive trade-up program for users looking to move off of their existing desktop. By providing Sun their proof of purchase to their existing desktop environment, users will be able to purchase the Java Desktop System for $50. For more information, visit: www.sun.com/javadesktopsystem
StarOffice 7 Suite
Today Sun is also announcing StarOffice 7, the latest release of its popular, open source-based office productivity suite. StarOffice is available from over 60 OEMs and is distributed to more 40 million users worldwide, making it the highest volume open office productivity suite on the planet. StarOffice 7 will be available at one-fifth the cost of other proprietary office suites in Fall 2003. For more information, visit, www.sun.com/staroffice
New features of StarOffice include:
Stronger Interoperability
-- Easy, fast export to open file formats such as PDF, Flash XML, et al.
-- Improved MS Office compatibility -- to import of text formatting,
graphics, charts, etc.
-- Small device support to view, edit and exchange StarOffice documents
with PDAs
Ease of Use
-- Modular workspace for more control and flexibility
-- Keyboard/mouse macro recorder for customized functions
New Enterprise Functionality
-- StarOffice Software Developers Kit (SDK) for custom integration into
third-party and enterprise applications
-- Configuration Manager for central configuration of remote users and
services
Sun Ray Offerings
Sun announces enhancements to its Sun Ray product line including the Sun Ray Building Blocks and a new and improved Sun Ray system. The Sun Ray Building Blocks is a maintenance-free desktop offering that combines 15 Sun Ray 1 ultra-thin clients and a Sun Fire(TM) V210 or V250 server with smartcards, for a complete workgroup solution. In addition, the Sun Ray 1g ultra-thin client is being added to the Sun Ray family of products. As the first ultra-thin client that supports resolutions up to 1920 x 1200 dpi at a full 24-bit color resolution, the Sun Ray 1g is targeted for EDA, publishing, software development, network operations centers and mission-critical defense customers. For more information, visit: www.sun.com/sunray
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision -- "The Network Is The Computer(TM)" -- has propelled Sun Microsystems, Inc. to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 100 countries and on the World Wide Web at http://sun.com.
Sun, Sun Microsystems, the Sun Logo, Java, StarOffice, Java Card, Sun Ray J2SE, Solaris, SunNetwork and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.
All SPARC trademarks are used under license and are trademark or registered trademarks of SPARC International, Inc. in the US and other countries. Products bearing SPARC trademarks are based upon an architecture developed by Sun Microsystems, Inc.
Intel Leads Convergence of Computing and Communications into The Mainstream
Tuesday September 16, 1:01 pm ET
Intel's Otellini Outlines End-User Benefits of Convergence and New Technologies
SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 16, 2003--Intel Corporation President and COO Paul Otellini today demonstrated that through Intel's and the industry's efforts, the convergence of computing and communications is being rapidly embraced by individuals and has become a mainstream trend. He also described new technologies Intel will bring to computing and communications devices that will add exciting features to Intel products in addition to providing more processing speed.
"Just two years after disclosing details on what was then codenamed Banias, the convergence of computing and communications has gone mainstream," said Otellini. "As one example, the addition of more than 76,000 wireless networking cards a day to the world's computing infrastructure makes it clear that convergence is here to stay. And this isn't just happening in the PC area -- we're estimating by 2010 there will be more than 2.5 billion wireless handheld devices capable of providing communications functions combined with the processing power of today's advanced PCs."
Otellini's comments were made during the opening address of the Intel Developer Forum (IDF) Fall 2003. In addition to reviewing the company's focus on convergence, Otellini also described new technologies -- the "Ts" -- Intel plans to bring to market to provide end-user benefits that go beyond processor frequency.
"It was two years ago at IDF that we committed to deliver fundamental technologies to enable greater productivity and better experiences for computer users," said Otellini. "We said we would continue to lead in microprocessor performance and we've done that. We also said we needed to create technologies specifically targeted to match the ways individuals use computing and communications devices. Hyper-Threading technology, with its innovative approach to enhancing the computing experience, and Intel® Centrino(TM) mobile technology, which delivers breakthroughs in mobile computing, are the first outcomes of this effort."
The company will continue to deliver on its promise to provide greater user benefits by supplying technologies to improve security, reliability and media processing, among others. In the security area, the company's LaGrande technology is designed to be a future enhancement to Intel processors, chipsets and platforms, that when combined with optimized software would protect against software-based attacks on computer systems. The technology should be available in the next two-to-three years.
"At a time when the 'virus of the week' seems to plague us all, making our computing devices more secure through the addition of hardware-based security must become a top priority for the industry in order to ensure future growth," said Otellini. "However, it's important to do this in a way that also respects the privacy rights of individuals. Intel is committed to achieving both goals."
Another technology Intel plans to incorporate into future products is designed to enable multiple, independent software environments in a single PC -- similar to the way mainframe class systems operate. Code-named "Vanderpool," it is aimed at improving the end-user experience by increasing system reliability, flexibility and responsiveness, as well as speeding the ability to recover from computer crashes.
The company is also developing similar enhancements to improve the processing of digital media -- boosting the performance and lowering the cost of experiencing advanced digital media capabilities. This feature is expected to become increasingly important in the home environment.
Intel's leadership in silicon technology is the foundation for providing benefits beyond processor speed. Advanced silicon technology will allow Intel to meet customer requirements by packing even more new features and functions onto smaller and smaller devices. For example, by 2011 the company plans to be building semiconductors with circuitry 22-nm wide, with transistors smaller than a single DNA molecule. As an example of Intel's investment in technology leadership, Otellini made the first public presentation of an Intel silicon wafer built on the next generation 65-nm manufacturing process.
"Intel is committed to bringing technologies to market that end-users want and can use today," said Otellini. "We will offer technologies such as Hyper-Threading for performance, enhanced wireless to enable true mobile computing, LaGrande for security, Vanderpool to improve reliability, flexibility and the overall computing experience, along with our core silicon expertise, which underpins our ability to enable these and other key capabilities."
Intel is also focusing its technologies and products on three areas that will provide significant opportunities for the IT and consumer electronics industries in the coming years: in enterprise computing, mobile Internet clients and the digital home.
In the enterprise, convergence will create new opportunities as wireless users tap into database and other applications on the Internet. Product highlights from Intel in the enterprise computing area include plans to introduce a dual core Intel® Xeon(TM) processor MP (code-named Tulsa) and a multi-core Intel® Itanium(TM) processor (code-named Tanglewood), among other technologies. In the mobile area, Intel is focused on common software that can run across multiple platforms to enable a seamless computing-communications experience.
In the digital home, the development of industry specifications will be essential to sharing content across multiple devices. Intel's involvement with organizations such as the Digital Home Working Group that bring together content providers and the consumer electronics industry, will help shape technology specifications that benefit consumers. In a different example of industry cooperation, the development of Digital Transmission Content Protection, over Internet Protocol (DTCP/IP) technology by Intel and other companies will enable home users to wirelessly share protected entertainment content among a variety of devices in the home. Through collaboration with content providers such as Warner Brothers and others, this technology is likely to be a cornerstone to expanding digital home entertainment.
Another reason to speed up the process..........
Companies Must Protect Computer Systems to Avoid Liability Advises Wildman Harrold
Tuesday September 16, 1:20 pm ET
Law Firm Forms New Business Continuity and Security Practice Group to Protect Companies from New Liabilities Faced in the Post-9/11 Era
CHICAGO--(BUSINESS WIRE)--Sept. 16, 2003-- Amidst warnings of new vulnerabilities in the Windows operating system and the threat of a possible new "blaster" virus, yesterday Microsoft Chief Executive Steve Ballmer called for the software industry to intensify innovation efforts to stop the spread of malicious computer code. Individual companies using susceptible software also need to be vigilant in protecting themselves and others. Companies affected by viruses may be surprised to learn that they can be held liable for any damage viruses cause their suppliers' and clients' computers.
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"When you participate on the internet, you're network communicates with other networks," explains Bill Cook, a partner at the law firm Wildman Harrold and a nationally recognized expert in information security law and computer and network security liability issues. "The vulnerabilities in your systems quite often cause damage downstream. Companies need to make sure from a corporate due diligence standpoint that they've taken the necessary preventative steps to make sure they're not the tool used by a terrorist or hacker to create downstream damage."
"Downstream liability" -- what the above scenario is called in legalese -- is just one of a growing number of complex and technical legal/security issues corporations should be concerned with in the post-9/11 marketplace. Other issues include knowing whether-or-not U.S. regulators will view the company's compliance programs as adequate; what a company's liability risks are; properly addressing work place issues such as internet and email usage, protection of intellectual property, work place privacy and sexual harassment; and knowing if the company's information sharing program with federal and state agencies, as well as other businesses, create Freedom of Information Act and anti-trust implications.
The government's new, complex regulations have been designed to protect our country's business infrastructure from hostile attacks and intrusions, but they also place additional burdens on corporations in virtually every industry and especially academia, banking & finance, chemical, defense, healthcare, insurance, pharmaceutical, public utilities, retail, securities, telecommunications, and transportation.
Conducting an internal security audit to uncover vulnerabilities and assess compliance needs in light of the newest federal regulations and litigation eventualities is the first thing a company should do to protect themselves, advises Cook.
Cook, a former Justice Department Counter-Espionage and Counter-Terrorist Regional Coordinator, leads the new Business Continuity and Security Practice at Wildman Harrold. For more than fifteen years, Cook has been involved in every aspect of this developing area. He has testified before congress and drafted model business compliance standards on various business continuity and security issues. He has also previously met with the National Security Council at the White House to discuss the issues. Cook is scheduled to speak at the General Accounting Office on October 1 and 2, 2003 in Washington D.C. His speech will focus on information security laws and how to protect critical infrastructure information as well as new security technology ideas that are not widely used by the government at the present time.
Wildman's new Business Continuity and Security Practice group is available to:
Analyze the impact of key federal laws and policies including
the National Security plan, Sarbanes-Oxley, HIPAA and
Gramm-Leach-Bliley.
Conduct an internal security audit to uncover vulnerabilities
and assess a company's compliance needs.
Anticipate and prepare for new regulatory initiatives.
Design a workable compliance program that meets government
standards.
Influence government rulemaking at the state and federal
levels.
Resolve civil and regulatory disputes arising from business
security issues.
Design workable internal employee guidelines that protect
intellectual property and work place environment.
Provide immediate legal response to computer intrusions and
theft of electronic information, including conducting internal
and network investigations and pursuing criminal referrals.
Draft and review policies and procedures and conduct risk
assessments to ensure adequate protection of electronic
information.
Litigate cases involving compromises of information or network
security, including civil theft of trade secret cases and
criminal cases or referrals under the Economic
"We realized that the regulatory landscape was getting so complex that our clients needed a team of advisors dedicated to helping them understand and comply with these new laws," explained Bob Shuftan, managing partner of Wildman Harrold. "We want to educate our clients about these new business challenges and let them know that we should be their first call when they face computer intrusions or theft of electronic information."
Wildman Harrold is a full service firm with a broad national and international practice and more than 200 attorneys practicing in Chicago, Lisle, IL and London. To download or request a brochure about the new Business Continuity and Security Practice, please visit the firm's website at www.wildmanharrold.com.
Reuters - Titan shares rise sharply on Lockheed deal
Tuesday September 16, 2:31 pm ET
By Kathy Fieweger
(CHICAGO, Sept 16 (Reuters) - Shares of Titan Corp. (NYSE:TTN - News), a provider of information technology to the U.S. government, soared more than 26 percent on Tuesday, a day after Lockheed Martin Corp. (NYSE:LMT - News) said it would buy the San Diego-based company for about $1.8 billion.
Titan focuses on homeland security and helping the U.S. military become more mobile and interactive, in defense circles called "transformation." It specializes in command, control, communications and computers as well as intelligence, surveillance and reconnaissance.
The deal, which is valued at about $22 per share, 30 percent more than Titan's Monday closing price of $16.96, expands Lockheed Martin's information technology business, a growing sector following the Sept. 11, 2001, attacks.
Chris Mecray, analyst with Deutsche Bank, said the Titan purchase was a good fit with Lockheed's $3.2 billion in IT-related sales and puts it neck and neck for the top spot in that area with rival Northrop Grumman Corp. (NYSE:NOC - News)
Titan has had a string of procurement wins recently, winning about a dozen contracts worth an average $100 million.
"Our combined capabilities will continue to enhance the Defense Department's transformational systems and focus on the evolving threats that face our country," said Vance Coffman, Lockheed Martin chairman and chief executive.
A spokesman for Lockheed, the top U.S. defense contractor with about $31 billion in 2003 revenue, said the Titan business will be spread over three main sectors, primarily Lockheed's Integrated Systems and Solutions area. "It will not be a stand-alone company," spokesman Tom Jurkowsky said.
PAYING UP
Steve Binder, analyst with Bear Stearns, estimated that Lockheed is paying an estimated 14 times projected 2004 earnings before interest, taxes, depreciation and amortization, a premium to other recent IT deals.
"In our view, this transaction doesn't represent a trend," Binder said. "Instead, we believe the company will take a more conservative posture in further transactions."
The total value of the transaction is $2.4 billion, including the assumption of $580 million of Titan debt, Lockheed said. The Titan purchase is expected to add to Lockheed earnings immediately.
Lockheed, maker of fighter jets and commercial satellites, will pay Titan shareholders with cash, stock or both.
Lockheed said it expects the deal to close in the first quarter of 2004, pending regulatory approval. Shareholder approval is also required and the transaction is subject to approval by the Justice Department and the Pentagon.
"We will review it," said Pentagon spokesman Glenn Flood, who added that it was too early in the process to say anything about potential antitrust issues.
The various credit rating agencies -- Moody's, Fitch and Standard & Poors, generally affirmed Lockheed Martin's debt. Moody's said the deal was being prudently funded and that Lockheed's liquidity, including $2.1 billion in cash, was strong.
Separately, Titan on Tuesday said it had terminated a debt-exchange offer because of the Lockheed deal and that it and Lockheed plan a separate exchange offer for Titan's 8 percent senior subordinated notes due 2011.
Titan shares were up $4.29, or 25.3 percent, to $21.25 after reaching $21.50, a level not seen since June 2002, while Lockheed shares were down $1.16, or 2.3 percent, to $49.82 in midday trading on the New York Stock Exchange (News - Websites). (-Additional reporting by Andrea Shalal-Esa in Washington))
Nice strength going into the close. Nice methodical move towards the high. Very strong day.
Dave
Identity Theft Strikes 1 in 8 Adults, FTC Says
Wed Sep 3, 7:36 PM ET
By Andy Sullivan
WASHINGTON (Reuters) - Nearly one in eight U.S. adults has had their credit card hijacked, identity co-opted or credit rating pockmarked by identity thieves over the past five years, the Federal Trade Commission said on Wednesday.
The crime cost U.S. businesses and consumers some $50 billion last year, but victims are getting better at limiting the damage, the FTC said.
Scam artists have used others' identities to take out loans and provide an alibi to police for decades, but identity theft has become much more common in recent years.
The consumer-protection agency has tracked identity-theft since 1998, but exact figures have been hard to come by as many victims never report the crime to criminal authorities, opting instead to work with banks or other businesses to clear their names.
The FTC surveyed some 4,000 adults this spring to come up with the most comprehensive picture yet of the fast-growing crime.
Amid the grim statistics, the agency found a silver lining: After nearly doubling for two to three years, new incidents of identity theft are growing more slowly and tend to involve less money. That's because banks are wising up to the problem, making it more difficult for scam artists to set up fraudulent credit cards, and consumers are spotting suspicious activity on their accounts earlier, said Howard Beales, director of the FTC's consumer-protection division.
"Consumers are learning to look for signs of trouble," Beales said, noting that one-third of victims surveyed said they noticed suspicious activity within a week. "Education, outreach and media reports are helping consumers to wise up."
Businesses have become more sensitive to consumers' privacy as well, limiting the disclosure of account numbers and other sensitive information, he said.
Because consumers are not liable for charges they did not incur, businesses bear the brunt of identity-theft costs. Still, some 38 percent of victims surveyed said they never told anyone about their problem and simply swallowed the charges.
Beales said those who discover unauthorized charges on their credit cards or other signs of identity theft should call the FTC's hotline at 1-877-ID-THEFT (1-877-438-4338), or log on to (http://www.consumer.gov/idtheft).
Nice action at the close.......
We are on the radar of all, for better or worse. 4th most active stock on all 3 major indices today.
Dave
Here's to a great day today. Everybody needs to keep focus. If there is a beat back in the price, there is no need to panic. The chance for the sky to fall is gone. If anyone panic sells, you just gave someone late to the game, who wasn't as smart as you a chance to get in at the ground floor. Everyone has a price and nobody should know that better than those who bought near the highs in 2000. There is meat on the bone here. Keep your comfort level and no reason to panic into what we will see in the upcoming ride.
Dave
What is going to happen next week.........
I wish I had a crystal ball. I think the Intel news guarantees a buyer for every seller. Volume will allow the daytraders lots of play here. I think the volume dictates a support of the stock somewhere in between thursday and fridays close. I also believe that because it is Intel, we bring on more buy and holders which will dry up the available shares giving us the 2 steps forward one back see sawing for the near term. Given more news with other announcements and maybe a $$ figure, everything goes out the window and the rocket ride begins. Investors are looking for the next big thing and anybody who never heard of Wave that saw the volume and price gain must feel like they got hit in the head by one of those falling anvils from a loony tunes cartoon. We test the double digits next people. I think a close next friday between 7 and 12 is not out of the question. The psychological fear of buying on an unfulfilled promise has been lifted. Intel has provided Wave with that. We have waited for that. The tape tells the tale. 63 million shares can't be wrong. Price follows volume.
What if a third of those went to strong hands? If there was 25 M not being traded and another 21M got taken out of circulation.............woooooooooo. Everyday is a new day from here on out. The volume should have cleared the slate from anyone being able to hold the price back for days at a time. Our time has come, rejoice, bask in the glow, we've earned it. Validation and Vindication all in a 48 hour period. Sweet.
Wall Streets sees us dance and does not understand . Yet. But they will. And when they do it'll be like the running of the bulls behind us. Has there ever been a group of investors so squarely ahead of the curve than those in this equity? I think not. It is because of this community many have stayed who otherwise would have left. You can almost feel the relief in the messages written Thursday and Friday. Our company has probably been sustained by the community along the way as well. How nice so many have survived to see this story begin to unfold. Enjoy what will be wove. Be reminded by those that join us into the journey. Feel pride for the courage to stay the course. This has not only been a great learning experience in investing, life lessons have been learned here as well.
Enjoy the ride, we've earned it.
Dave
Spin you hit on wave... the insider trading was for therma wave and the articlewas about Chapman Wave. I read that thing and did not see any mention at all.
Dave
4.00 here we come.........
What a beautiful day! Faith has been rewarded after a long 4+ years I have climbed over onto the positive side of my cost average!! Knowing this was in the works, kudos have to be handed out to all at Lee. I am sure they handled more than a few disguntled shareholders, and not once had we heard from anyone that they were treated heavy handidly. How easy this could have been knowing what was to come. Makes you wonder what else is coming down the pipeline if they were able to keep the lid on this. I, for one, never saw this one coming so soon. I was hoping for something later in the year or early 04. The AMD shoe has to drop now. It has to. This truly cements Intel at the fore. AMD I believe was ahead of the curve when the whitepaper about trusted computing came out linked with Wave. It was like the holy grail, written before the market was prepared for what was unleashed on those pages. Now AMD's brother in arms is escorted to the ball by it's number one rival. For AMD to have any credibility in this secure pc arena the news has to be released and product has to be put into the marketplace in concert with Intel or sooner, ala the great processor one upmanship we saw over the last few years. Maybe we see it now with secure chips between these two giants. However, should AMD drop the ball and not strike soon, like by next Wednesday, I think the viability of them as a major challenger to Intel and innovator in this field has been damaged far greater than anyone could have imagined. If the market has a true grasp on what this announcement means for the future direction of the pc, and a sideline attitude fostered by AMD the proof will be in the plummeting share price they will most likely experience. That being said, I believe we get a response from AMD by 8/06. I called my shot and by the 6th so will have AMD. Their future depends on it.
THE MOAT LIVES!!!!!!!
DAVE
WOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!
HP Pushes Web-Services Management Standard
Tue Jul 22, 3:22 PM ET Add Technology - NewsFactor to My Yahoo!
Jay Wrolstad, www.NewsFactor.com
Hewlett-Packard has announced that it will submit its Web-Services technology to a global standards organization and is calling on other companies to join the effort to create an industry standards-based platform for Web-services management.
HP (NYSE: HPQ - news) said it has offered the company's Web Services Management Framework to the Organization for the Advancement of Structured Information Standards (OASIS), an international consortium focused on the development and adoption of e-business standards for information exchange.
Strong Support
The framework is supported by a number of IT concerns, including Oracle (Nasdaq: ORCL - news), Sun Microsystems (Nasdaq: SUNW - news) and BEA Systems (Nasdaq: BEAS - news), and is designed to deliver specifications for applications developers working on emerging Web services for the enterprise (news - web sites).
Developed by HP with input from key partners, the framework is a platform for managing an array of business resources, such as controlling network access, tracking and measuring service levels, and collecting network usage data.
Developing open standards will drive adoption of Web services by creating a management interface that is domain-, platform- and vendor-neutral, according to HP.
Competing Specs
The framework defines how all IT resources in an adaptive enterprise can expose management information and communicate changes in business processes and IT infrastructure. It can support Sun's J2EE and Microsoft's (Nasdaq: MSFT - news) .NET platforms, among others.
The Web-services management committee at OASIS also is examining other specs by companies that are active in this area, such as IBM (NYSE: IBM - news) and Computer Associates, Yankee Group research director Cameron Haight told NewsFactor.
"The issue at this point is negotiating among the different vendors' perspectives and reaching agreement on a Web-services management standard," said Haight. "HP has offered its thoughts, and others are providing their input. There will likely be some politics involved."
As a major player in the systems management market, HP can exert its leadership in promoting standards, but developing and implementing interoperable products may not be easy, the analyst said. "Standardization typically takes a long time, and companies may start looking at proprietary solutions," he added.
Where Are End Users?
Also, Haight pointed out that no end users -- such as financial services or manufacturing enterprises -- were included in HP's announcement. "Going forward, this is a good move for HP, but they will need both product providers and users on board to make this work."
HP, through its OpenView management software portfolio, has launched technologies that use the Web Services Management Framework for the enterprise, including the OpenView Web Services Management Engine and Application Impact Analysis and Business Impact Analysis technologies.
The Web Services Management Framework 2.0 specification is available for download, at no cost, at the HP Web site. It will be offered to the OASIS WSDM technical committee later this month.
The most common objections to using Web services for building mission-critical business systems is that the underlying set of standards is not yet mature or reliable, said Aberdeen Group analyst Tom Dwyer.
While Web services promises to simplify software integration and lower the overall cost of maintaining more integrated business systems, it remains immature at this point, Dwyer told NewsFactor, and requires early users to fill gaps in strength with costly custom programming.
The Cleveland contingent has arrived.