Diberdayakan oleh Blogger.

Popular Posts Today

Bill ensures emails, photos won't die with you

Written By Unknown on Rabu, 16 Juli 2014 | 23.14

WASHINGTON — When you die, should your loved ones have access to your Facebook, Yahoo and other online accounts?

A group of influential lawyers says yes, unless you specify otherwise in a will. The Uniform Law Commission was expected to endorse a plan Wednesday to automatically give loved ones access to — but not control of — all digital accounts, unless otherwise specified.

To become law in a state, the legislation would have to be adopted by the state's legislature. But if it does, designating such access could become an important tool in estate planning, allowing people to decide which accounts should die when they do.

The plan is likely to frustrate some privacy advocates, who say people shouldn't have to draft a will to keep their mom from reviewing their online dating profile or a spouse from reading every email they ever wrote.

"This is something most people don't think of until they are faced with it. They have no idea what is about to be lost," said Karen Williams of Beaverton, Oregon, who sued Facebook for access to her 22-year-old son Loren's account after he died in a 2005 motorcycle accident.

The question of what to do with one's "digital assets" is as big as America's electronic footprint. Grieving relatives want access for sentimental reasons, and to settle financial issues. A person's online musings, photos and videos — such as a popular cooking blog or a gaming avatar that has acquired a certain status online — also can be worth money. Imagine the trove of digital files being amassed by someone of historical value — say former President Bill Clinton or musician Bob Dylan — and what those files might fetch on an auction block.

"Our email accounts are our filing cabinets these days," said Suzanne Brown Walsh, a Cummings & Lockwood attorney who chaired the drafting committee on the bill. But "if you need access to an email account, in most states you wouldn't get it."

Ginger McCall, associate director of the Electronic Privacy Information Center in Washington, said a judge's approval should be needed to protect the privacy of both the owners of accounts and the people who communicate with them.

"The digital world is a different world" than offline, McCall said. "No one would keep 10 years of every communication they ever had with dozens or even hundreds of other people under their bed."

Most people assume they can decide what happens by sharing certain passwords with a trusted family member, or even making those passwords part of their will. But in addition to potentially exposing passwords when a will becomes public record, anti-hacking laws and most company's "terms of service" agreements prohibit anyone from accessing an account that isn't theirs. That means loved ones technically become criminals if they log on to a dead person's account.

Several tech providers have come up with their own solutions. Facebook, for example, will "memorialize" accounts by allowing already confirmed friends to continue to view photos and old posts. Google, which runs Gmail, YouTube and Picasa Web Albums, offers its own version: If a person doesn't log on after a while, their accounts can be deleted or shared with a designated person. Yahoo users agree when signing up that their account expires when they do.

But the courts aren't convinced that a company supplying the technology should get to decide what happens to a person's digital assets. In 2005, a Michigan probate judge ordered Yahoo to hand over the emails of a Marine killed in Iraq after his parents argued that their son would have wanted to share them. Likewise, a court eventually granted Williams access to her son's Facebook account, although she says the communications appeared to be redacted.

Enter the Uniform Law Commission, whose members are appointed by state governments to help standardize state laws. According to a draft of the proposal, the personal representative of the deceased, such as the executor of a will, would get access to — but not control of — a person's digital files so long as the deceased doesn't prohibit it in the will. The law would trump access rules outlined by a company's terms of service agreement, although the representative would still have to abide by other rules including copyright laws.

That means, for example, a widow can read her deceased husband's emails but can't send emails from that account. And a person can access music or video downloads, but not copy the files if doing so violates licensing agreements.

Williams said she supports letting people decide in their wills whether accounts should be kept from family members.

"I could understand where some people don't want to share everything," she said in a phone interview this week. "But to us, losing him (our son) unexpectedly, anything he touched became so valuable to us." And "if we were still in the era of keeping a shoebox full of letters, that would have been part of the estate, and we wouldn't have thought anything of it."

___

Follow Anne Flaherty on Twitter: https://twitter.com/AnneKFlaherty


23.14 | 0 komentar | Read More

Ink Block condos to break ground

Sepia Boston, the 83 condo-unit component of the massive Ink Block development on the former South End site of the Boston Herald, will break ground today, with National Development head Ted Tye and Boston Mayor Martin J. Walsh delivering remarks. More than half the condos have already been pre-sold at prices ranging from $459,000 to more than $2 million. Owners will have access to the Ink Block's 50,000-square-foot Whole Foods Market as well as the project's adjacent rooftop pool, fitness center and dog-washing station.


23.14 | 0 komentar | Read More

@HiddenCash to pay for park trampled by money hunt

WHITTIER, Calif. — When the man with the Twitter handle @HiddenCash moved his scavenger hunt to Whittier, California, a thousand people trampled through Penn Park seeking free money.

Now Jason Buzi, the Bay Area real estate investor behind the cash giveaways, says he will pay for the damage.

KNBC-TV reported Tuesday Buzi has agreed to send the city of Whittier $5,000 to cover the cost of repairs.

City Manager Jeff Collier says cash hunters trampled on plants, uprooted a newly planted tree, tore apart sprinkler heads and broke fences.

Collier says Buzi was apologetic and Whittier appreciates his gesture.

Through Twitter, Buzi has directed people to envelopes with $50 and $100 inside them in San Francisco and across Southern California in recent months.

Buzi calls his giveaways a "social experiment for good."

___

Information from: KNBC-TV, http://www.nbc4.tv/


23.14 | 0 komentar | Read More

Layoffs at Raytheon

Defense contractor Raytheon Co. says it is laying off employees in Massachusetts and Rhode Island after failing to secure a $915 million contract to build the U.S. Air Force's new space surveillance radar.

Company spokesman Mike Doble declined to say how many people would be affected in Raytheon's Integrated Defense Systems unit in Waltham that specializes in air and missile defense and radars.

Doble said yesterday that Raytheon is realigning its resources because of shifts in engineering and production work, a delay in contract awards and the current budgetary environment. He said the reduction in workforce across Raytheon IDS is "small."

Raytheon employs 63,000 people worldwide, with 11,800 in Massachusetts and about 1,000 people in Rhode Island.


23.14 | 0 komentar | Read More

Bank of America takes $4 billion litigation hit

NEW YORK — Bank of America said Wednesday that its second-quarter earnings were hit by higher litigation expenses.

The Charlotte, N.C.-based bank earned $2 billion in the second quarter after payments to preferred shareholders, compared with $3.6 billion in the same period a year earlier, a decline of 43 percent.

Revenue fell 4 percent to $21.9 billion from $22.9 billion.

Per share, the bank's earnings worked out to 19 cents, compared with 32 cents a year ago.

The bank's litigation costs of $4 billion crimped earnings by 22 cents a share.

Bank of America also said that it had reached a $650 million settlement Tuesday with American International Group Inc. to resolve all outstanding residential mortgage-backed securities litigation between the two companies.

The bank said that "substantially all" of the litigation expenses incurred in the second quarter of the year were related to existing mortgage issues that have been previously disclosed.

Like its competitors, Bank of America is still dealing with the fallout from the financial crisis that began in 2007 and the subsequent collapse of the housing market. For example, the bank said in March that it will spend $9.33 billion to resolve a dispute over mortgage securities with the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac.

However, unlike JPMorgan and Citigroup, Bank of America has yet to settle a federal investigation into its handling of risky subprime mortgages. Citigroup said on Monday that it had agreed to a $7 billion settlement with the Department of Justice, while JPMorgan reached a $13 billion settlement in November.

"We feel like we've gotten a large chunk of this behind us ... Clearly, the DOJ is the most significant matter that's out there remaining," Chief Financial Officer Bruce Thompson said on a call with reporters.

The Wall Street Journal reported later Wednesday that Bank of America had offered to pay $13 billion in both cash and consumer relief in a meeting with the DOJ Tuesday. The DOJ, though, is asking for "billions more," the Journal reported, citing people familiar with the matter. Jerome Dubrowski, a spokesman for Bank of America, said he couldn't comment on the report.

In April, Bank of America was forced to shelve plans to increase its dividend and stock buyback program. The bank said the move came after it realized that it had incorrectly valued securities that it had obtained through its acquisition of Merrill Lynch in 2009. As a consequence, the lender said it needed to hold a higher level of capital.

Bank of America had intended to buy $4 billion of its own stock and raise its dividend from a penny per share to 5 cents per share. The plan had been approved by the Federal Reserve. The bank said May 27 that it had resubmitted its capital plan to the Federal Reserve.

Thompson told reporters on Wednesday that he couldn't comment on "supervisory matters."

Bank of America's stock fell 37 cents, or 2.3 percent, to $15.45.


23.14 | 0 komentar | Read More

Senate bill bars employers from password access to social media

The state Senate has approved a bill barring employers or school administrators from requiring workers, job applicants or potential students from disclosing their social media user names or passwords as a condition of employment or acceptance as a student.

The bill, which passed unanimously yesterday, would also make it illegal for an employer to force workers to add them to any list of contacts associated with social media accounts.


23.14 | 0 komentar | Read More

Rhode Island site OKs lease option with Cape Wind

NORTH KINGSTOWN, R.I. — A wind farm planned for Nantucket Sound has gotten the OK for an option to lease land at a Rhode Island port for a possible staging and assembly area.

The Providence Journal reports that the board of directors for the Quonset Business Park voted Tuesday to award a three-year lease option to the developer of the 130-turbine Cape Wind project. The lease must be signed by April.

Cape Wind previously announced plans to build turbines in New Bedford, Massachusetts. Company officials say it's possible they'll use both sites.

The business park already has approved leasing land to Deepwater Wind, which plans wind farms off Rhode Island.

Steven King, managing director of the Quonset Development Corp., says the park also hopes to attract a turbine manufacturer or cable supplier.

___

Information from: The Providence Journal, http://www.providencejournal.com


23.14 | 0 komentar | Read More

Yahoo exec: No plans to acquire AOL

Quelling rumors that Yahoo may be interested in acquiring AOL, a Yahoo executive said it does not have plans to buy the rival Internet media company.

At the Fortune Brainstorm Tech 2014 conference Tuesday, Yahoo chief development officer Jackie Reses was asked whether AOL would be acquired in the next two years, to which Reses said, "Not by us," as reported by Re/code.

Also Tuesday, Yahoo reported second-quarter 2014 earnings -- and CEO Marissa Mayer said she was "not satisfied" with the results.

Yahoo Search had a strong quarter with 6% year-over-year revenue growth (excluding total acquisition costs), and social, mobile, video and native-advertising areas also grew substantially, Mayer said. But the average price for its display advertising fell 24% in Q2, and revenue in category declined 8% to $436 million.

Display advertising "remains an area of investment and transition," Mayer said, "further highlighting the fact that we need to work faster to ameliorate the negative trends."

The Internet company's worse-than-expected results "proved to be something of a false dawn for display," Pivotal Research Group senior research analyst Brian Wieser wrote in a research note. "Not only has even a modest level of revenue from Tumblr seemingly failed to appear, but display shortfalls were more pronounced, too." One factor hurting Yahoo: Big advertisers are generally spending less money on display advertising, by buying narrowly targeted audiences enabled by programmatic technologies, Wieser said.

Meanwhile, marketers are increasingly shifting budgets toward online video, an area Yahoo has been trying to bulk up. The company touted its recent deal to bring season six of "Community" to the Yahoo Screen service after NBC cancelled the show. Yahoo also highlighted its previously announced partnership with Live Nation to deliver live-streaming U.S. concerts on the web and pacts for its first two original comedies: "Other Space" from Paul Feig and "Sin City Saints" from Mike Tollin.

Over all, Yahoo revenue was $1.1 billion for the second quarter of 2014, down 4% from the year prior. Net income for the period was $270 million (which included restructuring charges as well as and gains from sales of patents), down 19% from Q2 2013.

Also Tuesday, Yahoo said it amended its deal with Chinese e-commerce and Internet giant Alibaba Group to reduce the maximum number of shares Yahoo is required to sell in connection with Alibaba's IPO in the U.S., from 208 million shares to 140 million shares. And, according to CFO Ken Goldman, Yahoo will distribute at least half of the after-tax IPO proceeds to shareholders.

This past week, Alibaba updated the prospectus for its public offering to indicate it expects to raise as much as $15 billion, while it raised the estimated value of the company from $117 billion previously to $130 billion.

Yahoo shares, after rising initially in after-hours trading Tuesday, were down 2.6%.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


23.14 | 0 komentar | Read More

CSX optimistic long-term but predicts flat 3Q

JACKSONVILLE, Fla. — CSX Corp. officials are optimistic about the railroad's long-term results, but its third-quarter profit will likely be relatively flat.

The Jacksonville, Florida-based railroad discussed its second-quarter results Wednesday, one day after reporting the results.

The railroad saw a surge in demand for most of what it hauled during the second quarter at the same time it was dealing with a backlog of shipments delayed by severe winter weather.

CSX expects volume to continue growing, and it's investing an additional $100 million in equipment to handle that. But officials expect only modest profit growth this year with most of that coming in the fourth quarter.

CSX said Tuesday its second-quarter profit improved 2 percent to $529 million, or 53 cents per share, from $521 million, or 51 cents per share, last year.

Its shares slipped 7 cents to $31.08 in morning trading Wednesday.


23.14 | 0 komentar | Read More

US stocks rise in early trading on earnings news

Major stock indexes moved higher in morning trading Wednesday, rebounding after finishing mostly lower a day earlier. A string of second-quarter corporate earnings and deal news helped lift the market. Investors also had an eye on Washington, where Federal Reserve Chair Janet Yellen was testifying before Congress for a second day.

KEEPING SCORE: The Dow Jones industrial average rose 39 points, or 0.2 percent, to 17,100 as of 11:23 a.m. Eastern time. The Standard & Poor's 500 rose five points, or 0.3 percent, to 1,978. The Nasdaq composite added 15 points, or 0.4 percent, to 4,431.

THE QUOTE: "We've seen some pretty good earnings reports across different sectors," said Dave Roda, regional chief investment officer for Wells Fargo Private Bank in the Southeast. "We're seeing a lot of (corporate deals), we're seeing a lot of share buyback announcements, things that really do help prop up markets."

MURDOCH BID: Time Warner soared 16.3 percent after Rupert Murdoch's Twenty-First Century Fox disclosed it made a bid for the media giant last month. Fox said Time Warner rejected its offer. The New York Times is reporting that that bid totaled $80 billion, or $85 in stock and cash for each Time Warner share. Time Warner added $11.76 to $82.77, while Twenty-First Century Fox fell $1.49, or 4.3 percent, to $33.70.

APPLE DEAL: Apple and IBM rose after the former rivals announced late Tuesday that they will work on mobile applications together in a bid to sell more iPhones and iPads to corporate customers. Apple rose 87 cents, or 0.9 percent, to $96.22. IBM added $3.40, or 1.8 percent, to $191.90.

INTEL SURGE: Intel rose $1.99, or 6.2 percent, to $33.69. The chipmaker reported late Tuesday that earnings jumped 40 percent in the latest quarter, beating expectations, as companies picked up the pace of office PC replacement.

BUILDING CONFIDENCE: The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday rose this month to the highest level since January. Builders said they were more optimistic about selling homes in the second half of the year. Homebuilders' growing confidence in the housing market comes as U.S. sales of new homes have picked up in recent months. The report sent shares of homebuilders mostly higher, led by M/I Homes. The stock rose 81 cents, or 3.5 percent, to 23.72.

BANK WOES: Bank of America fell 34 cents, or 2.2 percent, to $15.47 after reporting second quarter earnings that were hit by higher litigation expenses. The Charlotte, North Carolina-based bank earned 19 cents per share compared with 32 cents a year ago.

SECTOR WATCH: Seven of the 10 sectors in the S&P 500 rose, led by energy. Health care lagged the most.

EUROPE AND ASIA: European stocks are mixed after China reported economic growth picked up slightly in the second quarter. The world's second-largest economy grew 7.5 percent over a year earlier.

Britain's FTSE 100 slipped 0.5 percent and the CAC-40 in France rose 1.3 percent. Germany's DAX rose 1.2 percent.

Asia markets were mixed. Japan's Nikkei 225 fell 0.1 percent. Hong Kong's Hang Seng added 0.3 percent and China's Shanghai Composite fell 0.1 percent.

BONDS AND OIL: The yield on the 10-year Treasury note was slipped to 2.54 percent from 2.55 percent late Tuesday. Benchmark U.S. crude for August delivery rose 97 cents at $100.93 a barrel in electronic trading on the New York Mercantile Exchange.

___

AP Business Writer Bernard Condon contributed to this story.


23.14 | 0 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger