1st Down and Six Flags
Washington Redskins owner Daniel Snyder declared victory in his bid to take control of the Six Flags Inc. theme park empire. He said he had secured support from 57 percent of the company's shareholders for his plan to replace the top executive team at Six Flags with his own group, including installing Mark Shapiro as chief executive. The votes have yet to be certified by an independent firm. Even if he prevails, he would still be short of the majority on the board he needs to make management changes.
As the Worms Turn
Top industry and government computer security experts said in an annual report that hackers are shifting gears and successfully targeting many of the software programs designed to protect consumers and data. The list of Top 20 software flaws included problems with security products from leading vendors Symantec Corp., Computer Associates International Inc. and McAfee Inc. And if that wasn't enough, a new worm -- named Sober X -- is circulating in the guise of an e-mail that appears to be from the FBI and the CIA.
Not Dow 36,000, but . . .
Some major stock indexes finished at four-year highs, clawing back from the depths of the dot-com implosion and riding a recent surge of optimism of a strong holiday shopping season and a possible end to interest-rate hikes. The S&P 500 and the Nasdaq both set four-year records, while the Dow Jones Industrials finished just shy of a yearly high set in March. The Dow and the S&P have been up for five straight weeks, with the Nasdaq posting gains for a sixth straight week. Energy prices remain a cloud on the horizon.
If you are keeping score at home, score some for those under the glare of corporate-crime prosecutions. The Justice Department said it would not retry Arthur Andersen on Enron-related charges, six months after the U.S. Supreme Court tossed the accounting firm's conviction in the case. And New York Attorney General Eliot L. Spitzer backed away from criminal cases against a Canadian Imperial Bank of Commerce mutual fund trader and against Maurice R. "Hank'' Greenberg, former chief executive of American International Group.
War and Peace
Hollywood's big movie studios, which are in a pitched battle with people who steal their works online without paying for them, stuck a deal with Bram Cohen, the creator of BitTorrent, a file-sharing technology often used by the pirates. Cohen, who was careful never to endorse the use of his program for illegal means, is developing a version that will identify and block the transfer of copyrighted video. Analysts said that despite BitTorrent's broad use for legal and illegal sharing, those intent on pirating would find alternatives.