Word: aol
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...March for MediaOne by another another cable system called Comcast seemed like run-of-the-mill consolidation in the cable business. But last week AT&T came in with a much bigger offer, turning MediaOne into a reminder of telecom's future. Interest from Microsoft and AOL only extends these emerging battle lines even deeper into cyberspace...
...Possibly" is the key word because for now, dreamy values for Internet companies persist. The jig isn't up, and it may be that this isn't a jig at all. AOL, which has risen from $86 to $164 in the past five weeks, may indeed be the most profitable company in the U.S. some years from now, though last year it strained to make $92 million. It's certainly priced for success. With a market value of $166 billion, it's already more than two times as expensive as Ford, the reigning profits champ last year at $22 billion...
...AOL soon confirmed what Richard Smith already suspected: that someone had hijacked skyroket@aol.com's account. (The real owner, Scott Steinmetz of Lynnwood, Wash., squeezed a good 15 min. of fame out of the mix-up.) The culprit, AOL discovered, had logged on from New Jersey. A high-tech FBI-police unit there narrowed the possibilities still further. "Eventually," says deputy attorney general Christopher Bubb, "we were able to trace it back to the specific telephone that was being used." It belonged to David Smith...
State police picked Smith up last Thursday night at his brother's house. It was 72 hours since they'd been contacted by AOL, five days after Richard Smith contacted the FBI and a little less than a week since Melissa was posted. David Smith was released on $100,000 bail, and is scheduled to be arraigned this week. If convicted, he is expected to face about seven years in jail...
...Peter Verniero. The AP report also quotes Malley describing Smith as a "computer guy" who "originated [Melissa] at his apartment in Aberdeen, New Jersey." Smith is being held at the Monmouth County Jail. Technicians from America Online were apparently involved in the state and federal manhunt, helping trace an AOL account that had been hijacked. Also key was a controversial serial number encoded surreptitiously by some Microsoft programs...