Sunday, August 19, 2012

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OnLive's alternative to bankruptcy: just what is an Assignment for the Benefit of Creditors?
Aug 18th 2012, 17:00

OnLive's alternative to bankruptcy just what is an Assignment for the Benefit of Creditors

The news is out. OnLive, Inc. is no more, having cut the bulk of its workforce loose and used an Assignment for the Benefit of Creditors (ABC) to absolve itself of massive debts incurred by the expansion of its services without a corresponding increase in its customer base. But what is this alternative to filing for bankruptcy, and why did OnLive choose this particular legal reset button to start over? We spoke with an expert on the matter, Martin Pichinson, co-founder and managing member of Sherwood Partners (which does two or three ABCs in a given week), to help educate us on this little-known tool used by companies irrevocably in the red.

Continue reading OnLive's alternative to bankruptcy: just what is an Assignment for the Benefit of Creditors?

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OnLive's alternative to bankruptcy: just what is an Assignment for the Benefit of Creditors? originally appeared on Engadget on Sat, 18 Aug 2012 13:00:00 EDT. Please see our terms for use of feeds.

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Apple responds to iPhone text message spoofing, reminds us how secure iMessage is
Aug 18th 2012, 15:58

If you're a frequent texter, and the iPhone is your weapon of choice, there's a good chance you've been a wee bit concerned since yesterday's report that the device is vulnerable to a certain SMS spoofing attack. Basically, it's possible for a malicious individual to send a message and specify a reply-to number that is not their own, appearing as if they are someone else. We got in touch with an Apple representative and here's what we were told:

Apple takes security very seriously. When using iMessage instead of SMS, addresses are verified which protects against these kinds of spoofing attacks. One of the limitations of SMS is that it allows messages to be sent with spoofed addresses to any phone, so we urge customers to be extremely careful if they're directed to an unknown website or address over SMS.

Even if you aren't on an iPhone, we'd like to remind you to be careful when texting. There are numerous services out there that let you send a message that appears to be from anybody you like -- regardless of what model, OS or even carrier the recipient is using. All the more reason to think twice before filing that loan application over SMS.

Apple responds to iPhone text message spoofing, reminds us how secure iMessage is originally appeared on Engadget on Sat, 18 Aug 2012 11:58:00 EDT. Please see our terms for use of feeds.

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