Word: demanding
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When 21-year-old Web entrepreneur Alex Tew received a $50,000 ransom demand last month, he remembers thinking, "There's no way on earth I'm paying these guys." Hackers had kidnapped Tew's Million Dollar Homepage, an advertising website, crippling it with a flood of data. Thousands of dollars, six days and two security teams later, the site was back up. "I can understand why gambling sites that accept thousands of dollars a day could choose to pay and be done with it," Tew says, "but I made a point of standing firm...
...cyberextortion schemes become increasingly common, their targets have another choice: cyberinsurance. Demand for this emerging category of insurance, which will even cover a ransom payment, has jumped as more companies--and not just tech firms--depend on digital networks to do business. Written premiums topped $200 million in 2005, up from $100 million in 2003, according to Aon Financial Services Group managing director Kevin Kalinich, as corporations realize they have to guard against liability in addition to the hackers themselves...
...produce 800 blanks a day by July, up from 125 now. But high-volume surfboardmakers, who can buy foam from Australia, China and Brazil, need big orders filled fast, leaving an opening for new competitors. Todd Proctor, who has patented a surfboardmaking process using Kevlar and epoxy resin, says demand is up sevenfold, and he has attracted venture capital to purchase Clark's distribution channel. SurfTech, the largest maker of epoxy boards, reports that business has doubled. Insiders say the search for new materials could mark a technological turning point, similar to an earlier move away from balsa wood toward...
SPORTS In its inaugural season, Protrade.com's market lets investors trade shares in athletes whose "earnings" are mapped according to their on-field performance. Prices move up and down based on demand, and players earn dividends based on their statistics. For instance, shares in Shaun Alexander, left, rose steadily this season, as he helped the Seattle Seahawks reach the Super Bowl. The market is still in its infancy, but it's already rewarding smart "virtual" investments with cash prizes...
...U.S.A. Patriot Act Thursday. This second short-term renewal signals lawmakers’ reluctance to reauthorize the legislation over the long-term without changing the extent of the government’s access to library records. Harvard officials have argued that the FBI’s ability to demand patron information could have a chilling effect on academic freedom. “There is really a very serious principle here having to do with people’s rights to read whatever they want to read without anyone else knowing what they’re reading,” Director...