YEAR IN RISK Risk Management
For yet another year of this millennium, canada goose outlet price disaster related tragedies, especially Hurricane Sandy, dominated the way the world thinks about risk. Preparedness, response and recovery were at the forefront of discussion in every city on the East Coast. It is fitting that these aspects are what comprise the essence of dealing with any form of adversity, whether it be canada goose outlet in canada goose outlet chicago a natural catastrophe, financial crisis, earnings announcement, tech meltdown or legal dispute. The day to day work of risk management often goes unnoticed, but it is in readying an organization or community for these major, high profile events that the discipline can take center stage. And while the following run down is by no means a comprehensive account of the past 12 months, it does highlight those stories that represent the core issues of 2012 as seen through this lens. This was the Year in Risk.
Greece Approves Bailout Reforms, Protests Ensue
“We cannot allow Greece to go bankrupt,” said Greek Prime Minister Lucas Papademos in a cabinet meeting that finalized the harsh austerity measures the EU required before giving a loan to the struggling nation. The reforms, which included dissolving 150,000 public sector jobs, lowering pensions and cutting the minimum wage by 22%, were met by violent, destructive protests throughout Athens. (Read more about Greece’s struggles on page 32.)
Interpol Arrests 25 Anonymous Hackers
buy canada goose jacket As part of its operation “Exposure,” Interpol arrested 25 suspected members of the hacking group Anonymous four in Spain and 21 in South America for their role in denial of service attacks and publishing the private information of high canada goose retailers uk profile figures. After the arrests, Interpol’s website was attacked, as was that of the Spanish police. buy canada goose jacket
canada goose black friday sale Tornadoes Kill Dozens, Destroy Billions canada goose black friday sale
Several states suffered tragedy after a series of twisters ravaged towns in the Southeast and Midwest. More than a dozen died in Indiana, causing Governor Mitch Daniels to tell his citizens that “we are no match for Mother Nature at her worst.” West Liberty, Kentucky, was hit particularly hard, as a tornado with winds of 140 mph “flattened everything,” according to resident Faye Isaac, who shared her account of being hit by a falling store roof in the Lexington Herald canada goose outlet store uk Leader. “The whole town is gone.”
The Hartford Splits Lines of Business Under Pressure
cheap canada goose uk After months of public pressure from hedge fund giant John Paulson, who has an 8% stake in the insurer, The Hartford announced that it would wind down or split its struggling individual life and annuity units from its stronger property/casualty business. cheap canada goose uk
DOJ Sues Apple, Publishers for E Book Price Fixing
After the government alleged that Apple and several other publishing companies were engaged in a conspiracy to fix the prices of e books, three of the publishers, HarperCollins Publishers, Simon Schuster and Hchete Book Group, settled the case in August for $69 million. “While publishers are entitled to their profits, consumers are equally entitled to a fair and open marketplace,” said Connecticut Attorney General George Jepsen in a statement. “This settlement will provide restitution to those customers who were harmed canada goose sale uk mens by this price fixing scheme, but it also will restore competition in the e book market for consumers’ long term benefit.”
Canada Goose Coats On Sale Data Confirms UK Double Dip Recession Canada Goose Coats On Sale
canada goose clearance Economic data revealed what many had been feeling for much of the past half year: With two straight quarters of economic contraction, Britain had officially returned to recession. canada goose outlet in uk The derivative positions, which were made out of the firm’s London investment office that canada goose womens outlet Drew headed, would eventually cost the bank $5.8 billion (and perhaps up to $9 billion) and become the subject of multiple congressional investigations for impropriety. Company CEO Jamie https://www.rkliedtke.de Dimon, who came through the 2008 banking crisis with a reputation as being Wall Streets best risk management executive, characterized the trading strategy as “flawed, complex, poorly reviewed, poorly executed and poorly monitored.” canada goose clearance
Breach Exposes Nearly Seven Million Linkedln Passwords
canada goose clearance sale In a data breach that seemed to confirm the privacy concerns many have about social media, some 6.5 million passwords of the professional networking site Linkedln were posted to a Russian hacker site. In other breaches this year, dating website eHarmony had 1.5 million of its users’ passwords compromised, Wyndham Hotels allowed 600,000 members’ credit card numbers to be stolen, Yahoo had 400,000 passwords taken, and credit card processor Global Payments had 1.5 million consumer records exposed. canada goose clearance sale
buy canada goose jacket cheap Thousands of Former Players Sue NFL over Concussions buy canada goose jacket cheap
canada goose More than 2,000 former National Football League players filed suit against the league, accusing it of concealing information linking concussions to long term brain damage, including Alzheimer’s disease, dementia and chronic traumatic encephalopathy. By the end of the summer, the number of players involved had increased to more than 3,400 and observers suggested that the case could wind up costing the league billions. In August, the NFL canada goose outlet store winnipeg sued 32 insurers in an effort to force them to pay defense costs. Travelers countersued on the grounds that it is only obligated to defend NFL Properties, the league’s merchandising unit. canada goose
Mexico Slaughters 20 Million Birds over Avian Flu Fears
canadian goose jacket After an avian flu outbreak hit the largest egg producing region of Mexico and officials responded by killing some 20 million hens over a six week period, an egg shortage and price spike hit the country, which, according to national figures, eats more huevos per capita than any other nation. In terms of homes burned, it was the worst cheap canada goose gilet wildfire in state history. Another nearby inferno, the High Park Fire, destroyed at least 250 houses and led to losses of around $100 million. canadian goose jacket
canada goose uk black friday New Blackberry Delayed, Stocks Plunge, Vultures Circle canada goose uk black friday
In what some analysts are calling a death knell for the once ubiquitous Blackberry, its maker, Research in Motion, pushed back the launch of its new phone until 2013. Missing holiday sales may be a devastating blow and, in October, the company again delayed the release of its hyped Blackberry 10 from January to March. Worse still, RIM’s smartphone market share fell from 11.5% to less than 5% in 2012.
Supreme Court Upholds Health Care Reform Law
The Patient Protection and canada goose black friday Affordable Care Act, better known as Obamacare, was upheld by the Supreme Court in a controversial 5 4 decision that allows the reform’s individual mandate provision to live on as a tax. “The theory is that the mandate is, in effect, just a tax hike on certain taxpayers who don’t have health insurance,” ruled the Court.