On the Street

Best Buy’s Geek Squad Shares Your Personal Info with FBI

Documents obtained by the nonprofit digital rights group Electronic Frontier Foundation (EFF) confirm that Best Buy’s Geek Squad has been sharing information with the FBI without consumers’ permission for at least 10 years. “We think the FBI’s use of Best Buy Geek Squad employees to search people’s computers without a warrant threatens to circumvent people’s constitutional rights,” wrote the EFF. “That’s ...

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How Phone Apps are Selling Your Location Data

Smartphones may have made our lives easier, but they also act as devices to collect data for marketers. You may have noticed that you have been receiving more push notifications or ads alerting you of a nearby restaurant or store. That’s because these brands have access to your location-based data and are using automation marketing platforms to reach you. But, ...

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Additional 2.4 Million Americans Impacted by Equifax Breach

Equifax admitted this week that an additional 2.4 million Americans were impacted by the 2017 breach that exposed over 140 million Americans to identity theft. This brings the grand total to roughly 147.9 million people. Unlike the first group of consumers, potential data stolen from the second group is limited to names and partial Driver’s License Numbers. With the first ...

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US Intel Warns Americans to Stay Away from Huawei and ZTE

Officials from the FBI, CIA, NSA and Defense Intelligence Agency issued a warning on Tuesday that smartphones made in China represent a potential security threat for American customers. The warning, which came during a Senate Intelligence Committee hearing on worldwide threats, has massive implications for Apple competitor Huawei and telecom company ZTE. Both companies in 2012 were banned from selling ...

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Purdue Pharma to Scale Back Promotion of OxyContin

OxyContin manufacturer Purdue Pharmaceuticals announced last week it would no longer be marketing opioids directly to physicians. “We have restructured and significantly reduced our commercial operation and will no longer be promoting opioids to prescribers,” said the company in an official statement. Purdue will continue to sell OxyContin, but will no longer send sales representatives to doctors’ offices. Purdue told ...

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Wynn Resorts: An Even Money Bet

On Tuesday, February 6, 2018, Steve Wynn resigned as Chairman and Chief Executive Officer of Wynn Resorts amid allegations of sexual harassment of employees and payments of hush money that were inappropriately concealed from the public company’s shareholders.  The allegations came to light as a result of a Wall St. Journal expose in January. The importance of the nature of ...

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Business Titans Bezos, Buffet and Dimon to Tackle Healthcare Costs

Amazon, JPMorgan Chase, and Berkshire Hathaway announced Tuesday the formation of a new nonprofit that aims to cut healthcare costs for the hundreds of thousands of Americans employed by the three companies. “The three of our companies have extraordinary resources, and our goal is to create solutions that benefit our US employees, their families, and potentially, all Americans,” said JPMorgan ...

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GE Brings More Bad Things to Light

On Tuesday, January 16, 2018, GE surprised the market by disclosing it would book a $6.2 billion charge in its fourth quarter and would have to set aside $15 billion over seven years to bolster insurance reserves at its GE Capital unit. The announcement surprised investors because GE shares have lost value in recent years and its problems have been ...

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Wal-Mart Ups its Minimum Wage Following New Tax Legislation

Wal-Mart has announced that it will be raising its minimum wage to $11 an hour for all employees and will also be giving out one-time bonuses. The current pay rate is at $10, but the company will be seeing some massive gains from the GOP tax plan and has evidently decided to share the wealth.  “Today, we are building on ...

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