I find it downright hilarious when attorneys start pointing fingers at attorneys.
When you consider who ended up holding shares of the rebirthed Harry & David Holdings three years ago, it is nearly laughable to read the spate of law firm announcements, couched with all-due-indignation, how they are investigating Harry & David’s sale to 1-800-Flowers.com.
As an example:
“Levi & Korsinsky is investigating the Board of Directors of Harry & David Holdings Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to 1-800-FLOWERS.COM, Inc.”
If such law firms are concerned about the (poor) widows and orphans holding shares, they shouldn’t be. The over-the-counter shares were held primarily by former Wasserstein & Co. investors (some of them holding law degrees themselves). Those are the same folks who sunk Harry & David under impossible debt, dumped its pension program and jilted mom and pop vendors here in the Rogue Valley with the blessing of a Delaware Bankruptcy Court judge.
So one can only conclude the financial world equivalent of ambulance-chasing lawyers automatically launch “investigations” every time a Wall Street deal occurs.
Every time I attend an Internet security, digital security or scam security conference, I am reminded: There are two types of people, those whose personal/business stuff has been hacked, and those whose personal/business staff will be hacked in the near future.
To wit, here is a New York Times pieces detailing what the Home Depot security breach means to its customers.
Dust in the wind: Nothing lasts forever…
In this case, the idea that you can flip the switch and lights will come on or microwave reheat the leftovers may soon be passé.
There are plenty of contributing factors, and this Portland Business Journal reports addresses part of the equation.