Columbia House Declares Bankruptcy
Chalk up another victim of the digital music revolution. Columbia House, the mail order company famous for giving customers 12 CDS for a penny when they signed up for the club is declaring bankruptcy. The company made a fortune at the height of popularity for physical CDs and DVDs, at one point earning more than a billion dollars in profit a year.
Unfortunately, according to their bankruptcy filing, “This decline is directly attributable to a confluence of market factors that substantially altered the manner in which the consumers purchase and listen to music, as well as the way consumers purchase and watch movies and television series at home.”
Lenovo Cuts Jobs After Income Drop
Computer maker Lenovo saw an 80% drop in income year to year and responded by restructuring and cutting 3200 jobs. They sited a challengin market and declines in PC sales across the world.
The company has also recently come under fire for including Adware hijackers and an insecure update engine that behaves a lot like malware on some of its notebooks.
Researchers Hack Brakes
Cars are getting smarter, but also more vulnerable to malicious attacks from hackers. A group of researchers at the University of California managed to hack the brakes of a Corvette using a black box installed by an insurance company to monitor safe driving habits.
They were able to take control with only a text message and then activate wipers and disable the brakes. Concerns have been raised over vulnerabilities in other vehicles as well. The manufacturer of the black box say they’ve fixed the flaw that allowed the hack.