Posts Tagged trade
Corporate Security… Are you listening?
BANGALORE: Just a month ago, a Bangalore-based construction company lost a multi-crore tender by a thin margin. Baffled company officials vowed there was no way the rival firm could have come so near to their bid.
Soon, investigation proved them right and it was found the tender documents were leaked. The company was in a dilemma to find the mole. Only a few persons were aware of the tender details and they were the mosttrusted ones. Also, such an incident had never happened in the company.
Computer forensic tests revealed somebody had accessed the Universal Serial Bus (USB) port to download the tender documents. What surprised the company’s top heads was that one of their employees had used his iPod to download the data.
The data was then passed to the rival company for a price and to evade detection, the file was promptly deleted from the iPod. Investigators , however, retrieved it using advanced data-recovery software. Read the rest of this entry »
The business world seems to be getting really scary!!
Lehman Brothers Holdings Inc; $639 billion
The Lehman Brothers bankruptcy, is without a doubt, the largest bankruptcy ever: the size is estimated between $613 billion and $639 billion!
What began life as a general store set up by three German immigrant brothers to the United States, over the years turned into one of US’s largest investment banks.
The amazing story of Lehman Brothers’ story started in 1844, when 23-year-old Henry Lehman, son of a cattle merchant, emigrated to the United States from Rimpar, Bavaria. He settled down in Montgomery, Alabama, and opened a dry-goods store — H Lehman.
Later, when his brothers, Emanuel and Mayer, joined him the company changed its name to Lehman Brothers.
The global financial-services firm, which did business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking declared itself bankrupt on September 15, 2008.
Why it collapsed?
The fourth-largest investment bank in the United States, and one of Wall Street’s biggest dealers in fixed-interest trading, was heavily invested in securities linked to the US sub-prime mortgage market.
As the crisis in financial markets gathered momentum, it saw its share price collapse from $82 to less than $4.
It was the exaggerated but misplaced confidence of Wall Street’s longest serving chief executive officer, Richard Fuld of Lehman, that finally led to Lehman’s demise. Over 14 years, Richard Fuld, 62, turned a money-losing bond trading shop into a full-service investment bank. An international squash player, Fuld could not master the final stroke as he failed to keep the 158-year-old banking major alive.
Fuld never changed. He remained the obstinate Lehman loyalist whose pride stood in the way of the firm. If he had sold out earlier, Lehman could have survived. Fuld earned a BA from the University of Colorado and an MBA from New York University’s Stern School of Business. He started at Lehman in 1969.
Talk about being screwed up. This guy seems to be royally screwed up! I wonder what good his future is now? Read the bolded section of text. Some Indian’s do manage to get neck deep in shit!!! And all for sending out a document.
One thing thats clear here is that this guy was played into this trap. His own current employer HP screwed him by reporting it IBM. I guess he must have stepped on all the wrong toes. Sadly for him, I guess it’s GAME OVER!
Atul Malhotra, the former Director of Sales and Business development in output Management Services for IBM Global Services will be sentenced on October 29 for 10 years in prison and a fine of $250,000, reports PC world. However, Malhotra has pleaded guilty for spying trade secrets from IBM to HP, the U.S. Department of Justice, reported PC world.
Malhotra, who will be sentenced for 10 years imprisonment and a fine of $250,000 was pat ratted by HP. HP was very clear that Malhotra violated HP policies and that HP followed its policies by investigating, firing and reporting Malhotra to IBM and law enforcement. Followed by this move, Malhotra has been terminated from his role as vice president of HP’s printer division.
The email Malhotra sent to the HP executives said that the IBM document would help the HP sales team understand the goals of IBM as HP set pricing for prospective deals.
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