Online firm, under attack, cites extortion
A major provider of credit card authorizations for Internet retailers was struggling to remain online yesterday. Authorize.net, of Bellevue, Wash., purchased this year by Lightbridge Inc. of Burlington, has been subjected since last week to ''denial of service" attacks, in which vandals try to knock computers out of commission by overwhelming them with data. ''We are working diligently to minimize their effect on our payment services," said Glen Zimmerman, a Lightbridge spokesman. ''We did receive an extortion letter," he said. Lightbridge was working with law enforcements to track the attackers. (Hiawatha Bray)
Fees cut nearly $100,000 in lawsuit
A judge has cut attorneys fees and costs in the settlement of a class-action suit against Walgreens for failing to put price tags on individual items. Suffolk Superior Court Judge Allan van Gestel cut the fees from $550,000 to $453,212, following complaints they were excessive. He did not redistribute any settlement money; critics, including Colman Herman of Dorchester, had objected to nearly $400,000 going to groups like the American Cancer Society, saying they weren't harmed. (Bruce Mohl)
Bank officers to share millions after sale
Eight executives at Banknorth Group in Portland, Maine, will receive $36 million in stock and cash within three years if its sale is completed, according to federal documents. The sales deal includes new contracts for president and chief executive William J. Ryan, chief operating officer Peter Verrill, and six others. Banknorth has agreed to be sold to TD Bank of Toronto, which would pay $3.8 billion for 51 percent of Banknorth, with the option to buy the rest in five years. Banknorth has 350 branches in New England and upstate New York and assets of $29.3 billion. (AP)
Budd returns to Goodwin Procter
Wayne Budd is returning to Goodwin Procter LLP, where he was a partner from 1993 to 1996, the Boston law firm said. Budd was US attorney for Massachusetts from 1989 to 1992; in 1992 he was named associate attorney general of the United States. He has worked in the corporate sector for several years, most recently as general counsel for John Hancock Financial Services. Prior to that he was at Bell Atlantic Corp. ''We are thrilled that Wayne Budd has decided to return to Goodwin Procter," said its chairwoman, Regina Pisa. (Kimberly Blanton)
Kryptonite upgrades lock program
Kryptonite will sweeten an upgrade program for consumers of the Canton company's heavy-duty bicycle locks, following news that some models can be opened with ballpoint pens. Last week, the company said it would offer new crossbars for the popular ''U-lock" designs to some customers, and rebates to others. Yesterday, Kryptonite said it will soon exchange an old lock for a new one for any consumer worried about the safety of a device with a older-style tubular key. (Ross Kerber)
THE NATION
Airline raising fares to cover fuel cost
American Airlines, blaming higher jet fuel costs, is immediately raising most of its fares within North America by $5 one way and $10 on round trips. American, the largest US airline, said that at current prices, its spending on fuel this year would rise by more than $1 billion over the $2.77 billion it spent last year. (AP)
Study: Healthcare taking a bigger bite
The number of individuals spending more than 5 percent of their income on out-of-pocket medical costs soared 48 percent to 2.2 million people from 2001 to 2003, according to a study by the Center for Health System Change. The average individual probably spends about 2 percent, said Ken Sperling, a consultant at Hewitt Associates, a benefit consultancy in Lincolnshire, Ill. (AP)
Bill would impose stiff fines for spyware
The Senate Commerce Committee voted for prison terms of up to five years for federal crimes committed via computer programs put on a machine without the user's consent -- an attempt to curb ''spyware," which installs itself and reports on users' Web surfing. The bill was sent to the full Senate. In June, the House Energy and Commerce Committee voted for $3 million fines for actions such as changing users' Web browser start pages without their knowledge or collecting data on keystrokes, and the House Judiciary Committee passed a spyware measure this month. Lawmakers hope to reconcile the various bills soon. (Bloomberg)
Net phone firm to double workforce
Vonage Holdings Corp., a closely held Internet phone company in New Jersey, plans to double its workforce by the end of 2005 and add 25,000 customers a month. Vonage has about 550 employees. The number of subscribers may by year's end reach 350,000, the company said. Vonage customers pay $30 a month and can forward calls to mobile phones or other numbers. (Bloomberg)
Witness cites lies in Enron sham sale
A former Enron Corp. executive's dramatic account of a confrontation over an alleged sham sale of three barges to Merrill Lynch & Co. was never documented, she testified. Amanda Colpean said she was ordered to lie and manipulate documents to make the sale look legitimate. She and 10 others signed off on the paperwork. Colpean was the first witness in the conspiracy and fraud trial in Houston of four former Merrill executives and two former midlevel Enron executives accused of pushing through the deal in 1999. Prosecutors say Enron wrongly booked a $12 million pretax profit and that ex-finance chief Andrew Fastow promised Merrill's interest in the barges would be repurchased. A Fastow-run partnership bought the interest in 2000. Prosecutors say Enron was trying to appear to have met earnings targets. (AP)
Airline's food service interruption ends
As quickly as it went away, food and drink returned to Delta Air Lines flights yesterday. Gate Gourmet cut deliveries to the carrier Tuesday. Delta asked a judge in Atlanta to force the supplier to resume deliveries. ''Basically it was a contractual issue, and the court provided the relief that we sought," said Kip Smith, a Delta spokesman. Delta is trying to lower costs and avoid a bankruptcy filing. It's cutting 6,000 to 7,000 jobs over the next 18 months, part of an effort to reduce costs by $5 billion annually by 2006, including $2.3 billion this year. (Keith Reed)
Jury chosen in ink expert's perjury trial
A jury of eight men and four women will hear the perjury trial in New York of suspended Secret Service ink expert Larry Stewart, 48, accused of lying when he testified for the prosecution at Martha Stewart's trial. She claims the alleged perjury made her trial unfair. Prosecutors say he exaggerated his role in testing ink on a worksheet used as evidence against Martha Stewart (no relation to Larry). Martha Stewart, though appealing her conviction for lying about a stock trade, has decided to serve her five-month prison sentence before the appeal is decided. (AP)
Etc.
Kronos Inc., of Chelmsford, has acquired 3i Systems, a Virginia workforce management vendor whose systems are used at government agencies. Terms were not disclosed. (Globe wire services) 