AOL search engine often used to find rival Google
Washington – Out of more than 36 million search queries that hundreds of thousands of AOL users typed into AOL’s Internet search engine from March to May, here is the term most queried: Google.
That so many customers would use one search engine to find another is among the odd truths being mined from AOL’s public release of search data. The company last week called the incident involving 658,000 users’ queries a “screw-up” and apologized. But for better or worse, the data offers the first widespread public glimpse at how people search the Internet, what they are interested in and how people think.
In just a week, the breach has spawned a cottage industry of websites and online commentary devoted to analyzing and parsing the data, which include Social Security numbers and potentially embarrassing searches, such as “bad breath could it be an infection in one of my teeth.” While acknowledging concerns about privacy, researchers said it is an opportunity to study how people search for information in a limitless universe of data.
Websites have devoted themselves to combing through the information. There’s www.dontdelete.com, which includes a feature offering “hours of entertainment” that will, lottery style, pull up a random search from the AOL information.
DENVER
Insurer reducing homeowner premiums
Insurer USAA is reducing home owner premiums in the Denver metro area by an average of 4 percent, resulting in an average annual savings per policyholder of $59 a year, the San Antonio company said Thursday. USAA serves members of the military and their families.
It will drop homeowner premiums by 7 percent in Colorado Springs, resulting in a $72 reduction on average each year.
In June, USAA cut auto-insurance premiums by 10 percent in Denver and by 9 percent in Colorado Springs.
NEW YORK
Adelphia bondholders ask judge to lift order
A group of Adelphia Communications Corp. bondholders said the Greenwood Village- based company’s proposed plan to repay creditors is not viable and asked a judge for permission to file a plan that would immediately repay banks and some unsecured debt.
The bondholders – Aurelius Capital Management, Catalyst Investment Management, Perry Capital LLC, among others – asked U.S. Bankruptcy Judge Robert Gerber to lift a court order blocking parties other than Adelphia from filing proposed repayment plans with the court.
NIWOT
Crocs Inc. prices secondary offering
Niwot-based Crocs Inc. on Thursday priced a secondary offering of 8.3 million shares at $27.66 a share.
The offering will come from existing stockholders, and the company will not benefit from the proceeds of the sale. The underwriters have been given a 30-day option to buy 1.2 million shares to cover overallotments.
GREENWOOD VILLAGE
First Data subsidiary buying Argencard
First Data International, a subsidiary of Greenwood Village- based First Data Corp., said Thursday that it will buy Buenos Aires-based Argencard, the largest payment processor in Argentina and Uruguay.
DENVER
Comcast PowerBoost speeds downloads
Comcast introduced a new technology Thursday to Colorado customers designed to enhance performance while downloading content from the Internet.
Comcast PowerBoost gives customers extra bursts of speed, between 12 to 16 megabits a second during downloads.
“Comcast customers will automatically receive the PowerBoost speed enhancer as part of their broadband package, at no additional charge,” the company said in a statement.
To take advantage of PowerBoost, standard high-speed modem customers must unplug their modems for 30 seconds. Customers with Comcast Digital Voice need to press a pin into the reset button on the back of that special modem.
Comcast has 800,000 subscribers in Colorado.
NEW YORK
Six Flags sees diverse interest in six parks
Six Flags Inc., the second-largest U.S. theme-park operator, will send out detailed financial information today on six amusement parks, including Denver’s Six Flags Elitch Gardens, that it is considering selling to potential buyers, chief executive Mark Shapiro said. “Books are going to, you name it, anybody and everybody …” he said. “There’s a great deal of interest.”
DETROIT
Delphi hearing on contracts delayed
A federal bankruptcy judge has delayed until Sept. 18 a hearing on Delphi Corp.’s request for permission to scrap its labor contracts and impose lower wages and benefits on hourly workers.
The United Auto Workers union said in a statement that Judge Robert Drain in New York granted Delphi’s request for the delay after a courthouse meeting with attorneys Thursday afternoon.
NEW YORK
Analyst pleads guilty to securities fraud
A market forecaster accused of defrauding Japanese investors of $1 billion pleaded guilty to securities fraud Thursday, after spending more than six years in prison on contempt charges for allegedly hiding up to $15 million in assets.
Martin Armstrong, 57, entered the plea to conspiracy to commit securities fraud, commodities fraud and wire fraud in a plea agreement limiting his potential prison sentence to up to five years.
NEW YORK
Time Warner will restate earnings to ’00
Time Warner Inc., the world’s largest media company, said it will restate financial results back to 2000 after finding improper accounting related to advertising revenue at its AOL division. The restatement will cut net income by about $21 million over the 6 1/2 years between 2000 and the first half of this year, the New York-based company said in a statement.
NEW YORK
Enron ruling stirs backlash fears
A decision by the judge overseeing Enron Corp.’s bankruptcy has generated alarm across Wall Street, prompting warnings that it could do broad harm to U.S. capital markets.
The ruling, by U.S. Bankruptcy Judge Arthur Gonzalez, held that holders of claims against a bankrupt company could see those claims wiped out even if they did nothing wrong in their relationship with the company.
