ProfNet Wire: Business & Technology: Identity Theft/SMS

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LEADS

**1. BUSINESS: THE 60-DAY CLOCK IS TICKING FOR UNUMPROVIDENT CLAIMANTS. FRANK N. DARRAS, managing partner at SHERNOFF, BIDART AND DARRAS, LLP, is a disability and long-term care attorney and can discuss UnumProvident's multi- state settlement agreement: “These disabled deserve to know about this opportunity. With different time limits affecting the 1997-1999 denials and the 2000-2004 denials, we are doing everything we can to spread the reassessment word and the different timing requirements so those truly disabled are not left behind."

**2. BUSINESS: SECTION 404 IS A NIGHTMARE FOR SMALLER PUBLIC COMPANIES. CHERYL MOORE, securities attorney for Dallas' PATTON BOGGS: “An increasing number of small to medium-sized public companies are feeling a financial pinch due to Section 404 of the Sarbanes-Oxley Act. The measure requires public companies to review and sometimes change their procedures for record keeping, securing computerized information and managing inventories. Many smaller companies simply can't afford to hire enough auditors to make sure they're completely covered under Section 404. Larger companies can afford to keep up with every aspect of Section 404, but many smaller ones can't. Don't be surprised if Congress is asked to give smaller companies some relief."

**3. ENERGY: NEW LAW TO FOCUS ON ENERGY EFFICIENCY. JEFFREY HART, president and CEO of the CADENCE NETWORK, an expense management firm provides solutions for chain store and multiple site businesses in the banking, government, restaurant, retail and grocery industries: "In the next few weeks, the energy industry will see quite a few changes -- a new energy secretary and a renewed passion to focus on energy efficiency. Good business is about squeezing every penny of waste from the bottom line, and that begins with finding waste in the consumption of energy. With the likelihood of energy efficiencies being mandated, we encourage governments and businesses to take the proactive lead in proof of their performance by saving money and resources.” Hart is available for comment on how increasing energy efficiencies can positively affect a company's bottom line.

**4. FINANCE: NINA OLSEN'S REPORT TO CONGRESS. JOHN K. HARRIS, CEO and president of JK HARRIS & COMPANY, LLC: "I want to praise the efforts of Ms. Nina Olson, the IRS' national taxpayer advocate, in her latest report to Congress. She pointed out issues that are plaguing the IRS' administration of the Offer in Compromise program. I applaud her efforts and hope that both Congress and the IRS take her recommendations seriously."

**5. INVESTING: THE MUTUAL-FUND INDUSTRY SIMPLY DIDN'T FOLLOW THROUGH. RANDALL K. PULLIAM, attorney at Dallas' BARON & BUDD, can discuss recent lawsuits filed in 11 states that say the mutual-fund industry failed to collect billions of dollars from securities class-action lawsuits on behalf of investor clients. Pulliam is the lead counsel for the plaintiffs: "These mutual funds owned stock in hundreds of companies that reached settlements in securities class-action lawsuits, and the ongoing claims involve several giants of the mutual-fund industry. Although the process for collecting this money was simple, the mutual funds simply didn't follow through."

**6. MANAGEMENT: THE 'DUMB CEO' DEFENSE. BRUCE K. PACKARD, corporate attorney for DAVIS MUNCK: “When the former chair of travel and real estate giant Cendant said he was unaware of fraudulent accounting activities, it was simply the latest use of the so-called ‘dumb CEO’ defense. It's a common tactic when an organization is facing criminal prosecution. The mob employed it so successfully that Congress passed the RICO statute. It is a mostly effective maneuver because jurors tend to buy it when a CEO claims that he expected his managers to do their jobs legally and properly. They might not understand how a large organization works or the complex financial polices they use to manipulate their finances."

**7. PERSONAL FINANCE: IDENTITY THEFT IS CAUSING A SHIFT IN IDENTITY MANAGEMENT. ROBERT L. SICILIANO, identity theft expert for IDTHEFTSECURITY.COM: "Identity theft is causing a shift in identity management. It’s all about compliance. Consumers realize their SSN is available online for a small fee. Consumers are putting the pressure on government to take action. Government is passing the buck by putting laws into effect that have no teeth and make corporations and you and me liable. Instead of tightening up the way we identify people in this country, they’ve passed laws that make Sally Homemaker vulnerable to a lawsuit if she doesn’t shred her prospective nanny job application. The only winners will be lawyers and shredding companies. Our identities and our Social Security numbers are no safer."

**8. PERSONAL FINANCE: CONSUMER FINANCIAL FITNESS IN METROPOLITAN AREAS. BRAD STROH, co-CEO of FREEDOM FINANCIAL NETWORK, LLC, can discuss the personal finance "fitness" of various metro areas: "The high concentration of communities in the Midwest and northern California is particularly interesting and may speak to criteria that need to be evaluated with the specifics of each area. Regardless of the rankings, the metro areas highlighted for financial fitness in InCharge Institute of America’s study must realize that they can’t overlook record-high levels of consumer debt and what that can do to a personal, or national, economy. Consumer debt now stands at more than $2 trillion for the first time."

**9. TECHNOLOGY: AUDIENCES ARE NOW USING SMS FOR TV AS WELL. IDAN MILLER, vice president of ZONE4PLAY, an interactive technology company: "Audiences are no longer just using SMS (short mobile messaging) on their cell phones -- it's now on TVs as well. As technology advances, audiences are becoming more involved with TV and view TV as yet another interactive technology. People want games on their television, lottery services and a variety of interactive mechanisms, similar to cellular phones. Just as cell phones now use SMS and a variety of mechanisms, so too do people now communicate using their mobile phones while seeing their response displayed on the TV screen. SMS-TV can accommodate an ever-expanding audience with the latest concept in interactive technology -- who said TV rots your brain?"

**10. WORKPLACE: THE TREND TOWARD LONGER WORK WEEKS. ELLIOT CLARK, COO of KENEXA, a provider of integrated human capital management (HCM) services and technology solutions: "How we define work has evolved dramatically over the last century. The trend shows that our work week has been steadily increasing over the last two decades. Unlike our parents, we do not work only at our desks. We take work home, work on airplanes and our laptops. As access to information is becoming more ubiquitous, our work habits are changing to fit our technology. This need to work 'odd hours' will be further magnified as our economy becomes more globalized. The globalization intertwines itself deeper into our daily activities where we will have to meet the needs of our customers and respond at all hours of the day and night."