20September2004

Car Buying Consultant

Posted by Zane under: Personal.

So far this year I have helped negotiate three different car deals. First it was for Winkler’s on their 2004 Jeep Liberty Columbia Edition with an MSRP of $23,500 on May 28th, Labor Day weekend. Next it was for Sean on his 2004 Acura TL with an MSRP of $35,500 on July 5th, Four of July weekend. And finally, it was for Jennifer’s 2004 Honda Accord Coupe with an MSRP of $21,000 this past weekend.

I won’t say what any of the final deals were, but I will say that they got extremely good deals. I think I may be on to something here! As a car-buying consultant I will set up a test drive, negotiate a great deal, handle your trade and even take care of financing and insurance. It’s like having a personal car buyer, without hassle. Well, expect of course to sign the papers. So, if you would like to use my services please let me know.

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17September2004

Twist A Pen, Open A Lock

Posted by Zane under: News.

U-Lock is not safe,” warned Brennan in a note posted to Bike Forums.

Wired News tested Brennan’s claims. A brand new Kryptonite Evolution 2000 was opened in seconds using a Bic pen. After cutting four small slits in the end of the pen’s barrel to ease it in, the lock opened with a single twist.

Brennan, 24, of San Francisco, said he successfully opened two Kryptonite locks, an Evolution 2000 and an older Kryptonite Mini lock.

Subsequent posts to Bike Forums and other websites report the vulnerability applies to many of the company’s cylindrical-lock products, including some from Kryptonite’s vaunted New York series.

The New York line carries a $3,500 replacement warranty in the event of theft, and Kryptonite claims the locks are resistant to “bolt cutters, saws, hammers and chisels.”

“That’s the absurdity of it,” Brannan said. “It’s not picking the lock or smashing it open. It’s the absurdity of a small piece of plastic breaking your unbreakable lock.”

“They’re worthless,” he added. “I don’t trust them anymore.”

Kryptonite declined to comment, but in a statement, the company said it is rushing to market a new “disc-style cylinder” design that is more secure. The disc-style cylinder is used in the New York products.

“Kryptonite will provide the owners of Evolution and KryptoLok series products the ability to upgrade their crossbars to the new disc-style cylinder, where possible,” the statement said. “This cylinder provides greatly enhanced security and performance. Kryptonite is finalizing the details of this upgrade process and will publicly communicate these details as soon as possible.”

Brennan said he will not be buying a new lock from Kryptonite.

“That’s a slap in the face,” he said. “They’re looking to profit from a series of mistakes they made. They need to replace their faulty product.”

The vulnerable Kryptonite locks use an axial pin tumbler, a common cylindrical design used in a wide variety of products. The lock’s design was invented at least 50 years ago by Chicago Lock, said attorney and security consultant Mike Tobias, who claims to have first publicized the design’s vulnerability five weeks ago.

In early August, Tobias’ website, Security.Org, claimed laptop security locks by Kensington Technology Group, Targus and Compucage International could be easily compromised with a pen or a toilet-paper tube.

“It’s the same problem,” said Tobias. “Isn’t it incredible? There are millions of people who are reliant on these locks. The problem for Kensington and Kryptonite is that everyone knows it now.”

Tobias said not all axial locks are vulnerable, depending on several factors such as the lock’s diameter (to match the pen) and the lock’s engineering tolerances. He claims to be a veteran lock-and-security consultant who has worked for lock manufacturers, government agencies and law enforcement.

Kryptonite and CompX International, which now owns Chicago Lock, didn’t respond to requests for comment.

When told of the vulnerability, Tom Volk, owner of American Bicycle Security, which makes bike lockers and racks, expressed surprise. “That’s not good for them, but other companies are using the same lock. They all use a seven-pin tumbler lock.”

Volk noted that several cylindrical lock picks have been available online for more than a year. Volk said they apparently work well, opening locks in seconds.

The lock’s flaw was apparently first publicized in 1992 in the United Kingdom, according to BikeBiz.com. The BBC even covered it, but the news apparently didn’t resurface until a dozen years later.

“We read about it online like everyone else,” said Leah Shahum, executive director of the San Francisco Bicycle Coalition. “It’s amazing, but a lot of people have heard of it. The news is definitely out there.”

Brennan said his experience in computer security gave him no doubt about publicizing the vulnerability.

“The problem’s not going to go away,” he said. “Keeping it quiet just gives thieves more time to use this to their advantage. I wanted to let people know they are vulnerable. It’s an illusion of security.”

Read the Story

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15September2004

Negotiation

Posted by Zane under: Personal.

This past weekend we took Jenn’s car in to have some noises checked out and got an estimate of $2100 to fix the ‘Super Saturn.’  Jenn, her parent, and I decided that the money could be better spent towards a down payment on a new car.  So, Jenn and I spent all Saturday afternoon looking a new cars.  Her list includes: 2005 Nissan Altima S, 2004/05 Toyota Camry Solara SE, 2005 Subaru Legacy 2.5i, and the 2005 Scion tC.  Right now she has it narrowed down to the 2004/05 Toyota Camry Solara and the 05 Nissan Altima S.  Which one will she get?  Well, it will boil down to which car we can get the best deal on.  So, tonight Jenn and I are going back to the Toyota dealer to see what kind of deal we can work out on the Solara.  Her parents are long time customers, having bought 6 new cars from this dealer, so we’re hoping that we can use that as leverage.  I guess we’ll see, wish us luck!

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13September2004

Sony Agrees To Buy MGM For Nearly $5 Billion

Posted by Zane under: News.

A bidding group headlined by Sony Corp. agreed in principle to buy Hollywood film studio Metro-Goldwyn-Mayer for nearly $5 billion on Monday, after rival bidder Time Warner Inc. withdrew from the auction.
Comcast Corp., the biggest U.S. cable operator, will join the investors working with Sony on the deal, a source close to the discussions said. Comcast could not immediately be reached for comment.

Sony and its partners will pay $12 a share for MGM and assume slightly less than $2 billion in debt as part of the agreement, sources close to the deal said.

MGM’s library of more than 4,000 films, including the James Bond, Pink Panther and Rocky movies, is considered its crown jewel — one that could generate solid revenue for a new owner that could reformat the films for sale in the hot DVD market.

MGM’s film studio is considered a less-sparkling asset that sources have said may ultimately be shut down.

The consortium, which also includes lead private equity investor Providence Equity Partners, Texas Pacific Group and an investment arm of Credit Suisse First Boston, proposed exclusive talks to finalize the agreement, the sources said.

Sony and its partners have paid a $150 million deposit that MGM will keep if a deal is not reached, the sources said. The group had held a period of exclusive talks with MGM in May that did not result in an agreement.

TIME WARNER UNABLE TO AGREE PRICE

Time Warner, the world’s biggest media group, had offered a lower but more straightforward bid of $4.6 billion, according to a source close to the talks. Before Sony raised its offer, sources had said MGM favored Time Warner’s bid.

But Time Warner said in a statement on Monday that while MGM was a valuable asset, it could not agree on a price “that would have represented a prudent use of (Time Warner’s) growing financial capacity.”

Time Warner’s decision to drop its bid once Sony upped the ante likely came as no surprise to many investors and analysts, who had expected the company to be prudent with its cash after a few painful years of debt-slashing and restructuring.

Time Warner’s decision frees it up to concentrate on the pending auction for bankrupt cable operator Adelphia Communications. Time Warner is interested in buying some or all of Adelphia, but many Wall Street analysts had predicted its role in that auction would have been reduced if it won the competition for MGM.

The Adelphia auction is soon to get under way, though the company’s books have not yet gone out and Time Warner Chief Financial Officer Wayne Pace said last week that it had not performed due diligence on the assets.

Time Warner already owns the Warner Bros. and New Line Cinema studios. Sony bought Columbia Pictures in 1989 for $3.4 billion, but big spending budgets and fizzling box office takes caused Sony a string of subsequent headaches.

Sony and its partners have now locked in financing from Credit Suisse First Boston and J.P. Morgan Chase & Co. for the bid, sources close to the discussions said.

Shares of MGM were up 41 cents, or 3.7 percent, to $11.52 in afternoon trade. Shares of Time Warner were down a penny at $16.50.

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11September2004

Three Year Anniversary

Posted by Zane under: Personal.

Never for get 9-11-01!

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