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	<title>Inc. Wire</title>
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	<link>http://wire.inc.com</link>
	<description>A real-time stream of entrepreneurial news, quips, and strategies.</description>
	<lastBuildDate>Fri, 15 Jun 2012 18:38:53 +0000</lastBuildDate>
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		<title>TV Star Vizio Tackles the PC Market</title>
		<link>http://wire.inc.com/2012/06/15/tv-star-vizio-tackles-the-pc-market/</link>
		<comments>http://wire.inc.com/2012/06/15/tv-star-vizio-tackles-the-pc-market/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 17:33:08 +0000</pubDate>
		<dc:creator>Caitlin Berens</dc:creator>
				<category><![CDATA[Innovation]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[Inc. 500]]></category>
		<category><![CDATA[TVs]]></category>
		<category><![CDATA[Vizio]]></category>
		<category><![CDATA[William Wang]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8126</guid>
		<description><![CDATA[After shaking up the television industry, Vizio applies its experience to making computers. ]]></description>
			<content:encoded><![CDATA[<p>Back in 2009, when <em>Inc.</em> recognized Vizio for having the highest gross revenue in the <a href="http://www.inc.com/ss/2009-inc-500-top-10-companies-gross-revenue" target="_blank">Inc. 500</a>, the consumer electronics company was making its mark by commoditizing flat-panel TVs.</p>
<p>Now it looks like Vizio aims to<a href="http://www.inc.com/tech-blog/the-smb-apple-should-watch.html " target="_blank"> shake up another sector</a>: The company has just launched a new line of personal computers that have a Mac-like aesthetic, Microsoft Windows operating systems, and moderate prices, <a href="http://online.wsj.com/article/BT-CO-20120614-716795.html" target="_blank">according to <em>The Wall Street Journal</em></a>.</p>
<p>“Our target audience is people who can’t afford a $2,000 notebook,” <a href="http://www.inc.com/magazine/20070601/hidi-wang.html" target="_blank">Vizio chief William Wang</a> told <em>The Journal</em>.</p>
<p>Citing the &#8220;high-end components&#8221; and &#8220;slick designs&#8221; of the new Vizio machines&#8211;ultrabooks, mid-size laptops, and all-in-one desktops&#8211;<a href="http://reviews.cnet.com/8301-3121_7-57453445-220/vizio-launches-mac-like-pcs-starting-at-$898/" target="_blank">CNET editor Dan Ackerman suggests</a> that Vizio is targeting would-be Apple consumers.</p>
<p>He also points out that Vizio&#8217;s expertise in the home entertainment field has influenced its computer products, which have a function-key shortcut for launching entertainment hubs like Netflix, and include a remote control for the all-in-one desktop. <em>&#8211;Jillian D&#8217;Onfro</em></p>
<p><em>Photo via <a href="http://www.flickr.com/photos/13815526@N02/6667012187/" target="_blank">Pierre Lecourt</a></em></p>]]></content:encoded>
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		<title>Goldman Sachs: Don&#8217;t Expect Any Internet IPOs This Summer</title>
		<link>http://wire.inc.com/2012/06/15/goldman-sachs-dont-expect-any-internet-ipos-this-summer/</link>
		<comments>http://wire.inc.com/2012/06/15/goldman-sachs-dont-expect-any-internet-ipos-this-summer/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 16:47:31 +0000</pubDate>
		<dc:creator>John McDermott</dc:creator>
				<category><![CDATA[IPO]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[Goldman Sachs]]></category>
		<category><![CDATA[Kayak]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8131</guid>
		<description><![CDATA[The co-head of investment banking for global technologies says he doesn't expecting any tech IPOs until after Labor Day.]]></description>
			<content:encoded><![CDATA[<p>After the <a href="http://wire.inc.com/2012/05/31/facebook-fallout-companies-stalling-ipos/">Facebook IPO mess</a>, it looks like tech bankers may be taking the summer off.</p>
<p>Anthony Noto&#8211;co-head of telecommunications, media, and technology investment banking at Goldman Sachs&#8211;told the crowd at the F.ounders conference on Thursday that he doesn&#8217;t expect another Internet company to go public until after Labor Day, <a href="http://techcrunch.com/2012/06/14/goldman-sachs-internet-ipo-window-may-be-closed-until-after-labor-day/">TechCrunch reports</a>.</p>
<p>&#8220;If you go public now, you have to have a high quality company that doesn&#8217;t have a business model in transition.&#8221;</p>
<p>With Facebook shares down about 30% from their initial peak, other Internet companies appear to be postponing their own IPO plans.</p>
<p>Reports about Internet travel website Kayak stalling its IPO surfaced shortly after Facebook&#8217;s stock flop, and other companies&#8211;most notably, <a href="http://wire.inc.com/2012/06/06/twitter-value-reportedly-drops-after-facebook-ipo/">Twitter</a>&#8211;have experienced significant decreases in company valuations recently.</p>
<p>Facebook cannot shoulder all of the blame, however. Groupon and Zynga have also seen large drops in share price this year.&#8211;<em>John McDermott</em></p>
<p><em>Photo via Flickr user <a href="http://www.flickr.com/photos/luxorium/5851961969/">Luxorium luxury</a></em></p>]]></content:encoded>
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		<title>Report: Yammer to be Acquired by Microsoft</title>
		<link>http://wire.inc.com/2012/06/15/report-yammer-to-be-acquired-by-microsoft/</link>
		<comments>http://wire.inc.com/2012/06/15/report-yammer-to-be-acquired-by-microsoft/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 14:22:28 +0000</pubDate>
		<dc:creator>Caitlin Berens</dc:creator>
				<category><![CDATA[Mergers & Acquisitions]]></category>
		<category><![CDATA[Social Media]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[Acquisition]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[VC Funds]]></category>
		<category><![CDATA[Yammer]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8117</guid>
		<description><![CDATA[The business-software company will sell itself for $1.2 billion, according to The Wall Street Journal.]]></description>
			<content:encoded><![CDATA[<p>Business-software company Yammer is set to be acquired by Microsoft for $1.2 billion, <a href="http://online.wsj.com/article/SB10001424052702303822204577467312505454118.html?mod=googlenews_wsj" target="_blank"><em>The Wall Street Journal</em> reports</a>.</p>
<p><a href="http://www.inc.com/magazine/201111/the-way-i-work-david-sacks-yammer.html" target="_blank">Launched in 2008</a>, Yammer is like a private social network for individual companies; the company has been part of a wave of growing business software start-ups. Because Yammer plugs into Microsoft products like Outlook email and SharePoint collaboration software, <em>The Journal</em> suggests the deal may be an attempt by Microsoft to improve its Office software.</p>
<p><a href="https://www.yammer.com/" target="_blank">Yammer</a> also has the functionality to share files and create online workspaces to collaborate with outside sources, such as partners, customers, and vendors.</p>
<p>Representatives from Yammer and Microsoft declined to comment to <em>The Journal</em>.</p>
<p>Yammer had raised about $142 million in VC funds, and planned to go public eventually, reports <em>The Journal</em>. <em>&#8211;Caitlin Berens</em></p>
<p><em>Photo via <a href="http://www.facebook.com/photo.php?fbid=10150386630911078&amp;set=a.10150386630731078.347776.29990386077&amp;type=3&amp;theater" target="_blank">company</a> </em></p>]]></content:encoded>
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		<title>Chicago Start-ups Swap Equity for Services</title>
		<link>http://wire.inc.com/2012/06/15/chicago-start-ups-swap-equity-for-services/</link>
		<comments>http://wire.inc.com/2012/06/15/chicago-start-ups-swap-equity-for-services/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 12:00:25 +0000</pubDate>
		<dc:creator>Maeghan Ouimet</dc:creator>
				<category><![CDATA[Entrepreneurs]]></category>
		<category><![CDATA[Innovation]]></category>
		<category><![CDATA[Investors]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[Facebook IPO]]></category>
		<category><![CDATA[Funding]]></category>
		<category><![CDATA[Small Business]]></category>
		<category><![CDATA[Small Business Lending]]></category>
		<category><![CDATA[Small Business Owners]]></category>
		<category><![CDATA[Small Businesses]]></category>
		<category><![CDATA[Start-ups]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8098</guid>
		<description><![CDATA[Some Chicago-based companies are bartering equity for legal, design, and marketing services.]]></description>
			<content:encoded><![CDATA[<p>In the dot-com era, it wasn&#8217;t unusual for start-ups low on cash to do a little creative bartering to make ends meet. In exchange for, say, a little Web design work, companies would offer individuals an equity stake. Of course then the bubble burst and there was no equity left.</p>
<p>Well, now bartering-for-equity practice is back.</p>
<p>According to a <a href="http://www.chicagobusiness.com/article/20120609/ISSUE02/306099996/a-high-stakes-move"><em>Crain&#8217;s</em> report</a>, Chicago area entrepreneurs are again swapping equity for services. With little money to support a growing business, start-ups like night-club admission app Jump Rope are getting service discounts in exchange for an equity stake. Companies are making these agreements with graphic designers, Web developers, lawyers, and other service providers, <em>Crain</em>&#8216;<em>s</em> reports.</p>
<p>Jump Rope founder Peter Braxton entered into a barter relationship with Ora Interactive LLC, a mobile development agency. “These guys bring very specific talents and tools and perspective to the table that I just don&#8217;t have,” he told <em>Crain&#8217;s</em>. Braxton says he wouldn&#8217;t have been able to hire Ora and launch Jump Rope without the partnership. “I didn&#8217;t have access to that capital when I started building it.&#8221;</p>
<p>More entrepreneurs are following in Braxton&#8217;s footsteps&#8211;with hopes that the freed up capital will allow them to get their companies to market with a product that will benefit all parties involved. Sometimes, however, the arrangement works out better for the service provider: Remember graffiti artist David Choe, who accepted Facebook stock (pre-IPO) rather than $60,000 for the custom art work he did at Facebook HQ?</p>
<p>Mostly, though, founders agree that it&#8217;s a worthwhile risk because both parties wind up working together for collective success. Solar start-up PVPower founder Dan Kuthy says the exchange is worth it because he gains an invested source of service.</p>
<p>“It&#8217;s much more fun to work together when someone&#8217;s thinking about the business strategically like you are and wants the business to succeed,&#8221; Kuthy told <em>Crain&#8217;s</em>.&#8211;<em>Maeghan Ouimet</em></p>
<p><em>Photo courtesy of <a href="http://shutterstock.com">Shutterstock Images</a></em></p>]]></content:encoded>
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		<title>More Immigrants Opening Mom-and-Pop Shops in U.S.</title>
		<link>http://wire.inc.com/2012/06/15/more-immigrants-opening-mom-and-pop-shops-in-u-s/</link>
		<comments>http://wire.inc.com/2012/06/15/more-immigrants-opening-mom-and-pop-shops-in-u-s/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 06:00:28 +0000</pubDate>
		<dc:creator>Maeghan Ouimet</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Hiring]]></category>
		<category><![CDATA[Immigration]]></category>
		<category><![CDATA[Jobs]]></category>
		<category><![CDATA[Small Business]]></category>
		<category><![CDATA[Small Business Owners]]></category>
		<category><![CDATA[Small Businesses]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8107</guid>
		<description><![CDATA[Immigrants prefer to own small businesses to any other form of work and create jobs in the process, study says.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.fiscalpolicy.org/immigrant-small-business-owners-FPI-20120614.pdf">The Fiscal Policy Institute</a> reports that 18% of the country&#8217;s 4.9 million small business owners in 2010 were immigrants. That&#8217;s up from 12% in 1990. Made mostly of mom-and-pop specialty shops, small businesses remain the preferred mode of work for immigrants.</p>
<p>&#8220;A bigger part of the immigrant business story is still the bread-and-butter grocery store, restaurant and retail shop, as well as doctors&#8217; offices, taxi services and dry cleaners,&#8221; said David Kallick, principal author of the FPI report, wrote.</p>
<p><em><a href="http://online.wsj.com/article/SB10001424052702303410404577464853249366254.html">The Wall Street Journal</a> </em>reported that immigrant-owned small businesses (defined as a business with less than 100 employees) employeed 4.7 million people in 2010. Less deterred by a language barrier, the <em>Journal </em>says most immigrant small business owners are able to open businesses outside of major cities.</p>
<p>The report shows that immigrants tend to fall into a specific small business niche. The largest group of immigrants, Mexicans, have the largest number immigrant-owned start-ups. Indian immigrants tend to own their own private practices&#8211;helping to combat the shortage of health-care providers in the U.S.</p>
<p>&#8220;Only in America can you become owner of a business like this,&#8221; India-born dentist Savpreet S. Dhami told the <em>Journal</em>.&#8211;<em>Maeghan Ouimet</em></p>
<p><em>Photo courtesy of <a href="http://www.flickr.com/photos/lynnsta/2312324911/">Lynn B</a></em></p>]]></content:encoded>
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		<title>Bottoms Up! Happy Hour Has Been Patented</title>
		<link>http://wire.inc.com/2012/06/14/bottoms-up-happy-hour-has-been-patented/</link>
		<comments>http://wire.inc.com/2012/06/14/bottoms-up-happy-hour-has-been-patented/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 22:08:58 +0000</pubDate>
		<dc:creator>Caitlin Berens</dc:creator>
				<category><![CDATA[Social Media]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[Bill Lee]]></category>
		<category><![CDATA[Happy Hour]]></category>
		<category><![CDATA[Michael Hedlund]]></category>
		<category><![CDATA[Peter Grendler]]></category>
		<category><![CDATA[Virtual Happy Hours]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8100</guid>
		<description><![CDATA[A new patent lets small businesses and individuals boost online social interaction through a concept born in bars.]]></description>
			<content:encoded><![CDATA[<p>Everybody loves happy hour, and soon, the concept might not be limited to the bar scene.</p>
<p>Peter Grendler, Michael Hedlund, and veteran technology investor Bill Lee were recently <a href="http://www.businessweek.com/articles/2012-06-14/and-now-the-happy-hour-has-been-patented" target="_blank">granted a patent</a> for virtual happy hours, which could eventually be a way for companies to make money via gaming and social networking sites such as Facebook.</p>
<p>For example, imagine a social site that hosts a poker game. The idea is simple: You, enterprising business owner, could sponsor a virtual chip sale for the players, and any player who took advantage of the offer got an alert that your company sponsored the sale.</p>
<p>“It leads to increased social interaction,” says Lee, who has invested in Tweetdeck, Hootsuite, and Yammer, and filed for the patent back in 2007.  “There’s a social phenomenon now where people care about their Twitter followers, they care about how many friends they have on Facebook.”</p>
<p>Lee says consumers would also benefit from discounted goods and services, while the virtual host or social networking site would get the added benefit of more interaction within their space.</p>
<p>“It’s the perfect triangle,” Lee says. <em>&#8211;Jillian D&#8217;Onfro</em></p>
<p><em>Photo via Getty</em></p>]]></content:encoded>
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		<title>Kleiner Perkins Files Answer to Sexual Discrimination Complaint</title>
		<link>http://wire.inc.com/2012/06/14/kleiner-perkins-files-answer-to-sexual-discrimination-complaint/</link>
		<comments>http://wire.inc.com/2012/06/14/kleiner-perkins-files-answer-to-sexual-discrimination-complaint/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 20:36:31 +0000</pubDate>
		<dc:creator>John McDermott</dc:creator>
				<category><![CDATA[Funding]]></category>
		<category><![CDATA[Ellen Pao]]></category>
		<category><![CDATA[Kleiner Perkins Caufield & Byers]]></category>
		<category><![CDATA[Sexual Discrimination]]></category>
		<category><![CDATA[Venture Capital]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8090</guid>
		<description><![CDATA[The venture capital firm denies that plaintiff Ellen Pao ever complained about unlawful harassment until late 2011.]]></description>
			<content:encoded><![CDATA[<p>More than a month after <a href="http://wire.inc.com/2012/05/23/kleiner-perkins-charged-with-sexual-discrimination/">Ellen Pao accused the firm of sexual discrimination</a>, Kleiner Perkins Caufield &amp; Byers has responded.</p>
<p>Attorneys defending venture capital firm Kleiner Perkins filed a seven-page answer to Pao&#8217;s initial legal complaint with Superior Court in San Francisco. In the document, the firm vehemently denies Pao&#8217;s allegations of misconduct and says it is not guilty of any wrongdoing in handling the situation.</p>
<p>Specifically, Kleiner Perkins says Pao didn&#8217;t notify any supervisors or fellow employees that she was being subjected to sexual harassment until late 2011&#8211;at which point she had already retained counsel regarding the matter. When Kleiner Perkins did finally hear of the possible abuse, the firm hired an independent investigator to look into the claims, the answer says. According to the answer, this outside investigation found that Pao&#8217;s &#8220;discrimination and retaliation complaints were without merit.&#8221;</p>
<p>In her complaint filed in May, Pao said that she voiced complaints about being pressured into a sexual relationship with a fellow partner at the venture capital firm, but that she was told to keep quiet about the incident. After she ended the sexual relationship, her lawsuit says, her profit share was reduced and the firm tried to transfer her to China.</p>
<p>In the court filing, the firm says that Pao&#8217;s relationship with her peer was consensual.</p>
<p>Pao also accused senior partner Raymond Lane of pressuring her to marry the man who was sexually harassing her. The answer to the complaint denies this and also says Pao received performance reviews that encouraged her to be more proactive and take on more &#8220;thought leadership&#8221; within the firm.</p>
<p>The court filing also includes negative aspects of Pao&#8217;s various performance reviews. According to the excerpts included in the answer, Pao was consistently viewed as being too soft-spoken, and that at times, people questioned her motivations and thought she exhibited an unearned &#8220;sense of entitlement.&#8221;</p>
<p>Kleiner Perkins also says that Pao has breached her contractual agreements with the firm by not asserting the claims in an arbitration forum.</p>
<p>The full text of the Kleiner Perkins response can be found below.&#8211;<em>John McDermott</em></p>
<p><em>Photo via <a href="http://www.flickr.com/photos/jdlasica/3007694104/">JD Lasica</a><br />
</em></p>
<p><a title="View Ellen Pao v Kleiner Perkins - June 13,2012 on Scribd" href="http://www.scribd.com/doc/97019472/Ellen-Pao-v-Kleiner-Perkins-June-13-2012" style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;">Ellen Pao v Kleiner Perkins &#8211; June 13,2012</a><iframe class="scribd_iframe_embed" src="http://www.scribd.com/embeds/97019472/content?start_page=1&#038;view_mode=list&#038;access_key=key-14w2bfdmo90dn4yycd33" data-auto-height="true" data-aspect-ratio="0.770780856423174" scrolling="no" id="doc_37897" width="100%" height="600" frameborder="0"></iframe></p>]]></content:encoded>
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		<title>Reddit Bans Media Sites for Alleged Spamming</title>
		<link>http://wire.inc.com/2012/06/14/reddit-bans-media-sites-for-alleged-spamming/</link>
		<comments>http://wire.inc.com/2012/06/14/reddit-bans-media-sites-for-alleged-spamming/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 18:18:55 +0000</pubDate>
		<dc:creator>John McDermott</dc:creator>
				<category><![CDATA[Social Media]]></category>
		<category><![CDATA[Business Week]]></category>
		<category><![CDATA[Reddit]]></category>
		<category><![CDATA[Spamming]]></category>
		<category><![CDATA[The Atlantic]]></category>

		<guid isPermaLink="false">http://wire.inc.com/?p=8086</guid>
		<description><![CDATA[TheAtlantic.com and Businessweek.com are among the sites temporarily banned from the site.]]></description>
			<content:encoded><![CDATA[<p>Reddit is the latest company joining the tech crusade against spamming.</p>
<p>The social reader announced it will be temporarily banning several large websites from posting on its platform for being &#8220;spammy, malicious, or involved in cheating shenanigans,&#8221; <a href="http://gizmodo.com/5918318/reddit-bans-links-to-big+name-sites-over-spamming-violations">Gizmodo reports</a>.</p>
<p>The company has <a href="http://www.reddit.com/r/changelog/comments/umx99/reddit_change_domains_can_be_blocked_from_being/">not specified</a> the full list of domains being blocked, but <a href="http://www.reddit.com/r/BannedDomains/">the list</a> appears to include The Atlantic.com, BusinessWeek.com, and GlobalPost.com, among others.&#8211;<em>John McDermott</em></p>
<p><em>Photo via <a href="http://www.flickr.com/photos/teuobk/2592234300/">Jeff Keacher</a></em></p>]]></content:encoded>
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		<title>Small Businesses Beware: Hackers Have You Targeted</title>
		<link>http://wire.inc.com/2012/06/14/small-businesses-beware-hackers-have-you-targeted/</link>
		<comments>http://wire.inc.com/2012/06/14/small-businesses-beware-hackers-have-you-targeted/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 15:56:52 +0000</pubDate>
		<dc:creator>Caitlin Berens</dc:creator>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[Ann Talbot]]></category>
		<category><![CDATA[Cybercrime]]></category>
		<category><![CDATA[Fraud Insurance]]></category>
		<category><![CDATA[Golden State Bridge]]></category>
		<category><![CDATA[Hackers]]></category>

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		<description><![CDATA[Small firms face high attack risk, and are less likely to be covered by their banks.]]></description>
			<content:encoded><![CDATA[<p>The first unpleasant surprise comes when you realize that cybercriminals have hacked into your business’s bank account and stolen thousands of dollars.  Then an even bigger bomb drops: Your bank has no legal obligation to reimburse you for the attack.</p>
<p>Hackers that stage corporate account takeovers especially target small businesses because they often lack firewalls and monitoring systems, <a href="http://www.nytimes.com/2012/06/14/business/smallbusiness/protecting-business-accounts-from-hackers.html" target="_blank">according to <em>The New York Times</em></a>.  Losses can then be particularly devastating, because many small businesses owners don’t realize that protections on their personal bank accounts don’t apply to their business accounts.</p>
<p>Businesses owners need to purchase fraud insurance that covers cybercrime and fraudulent bank transfers if they want their bank to pay up after an attack, according to <em>The Times</em>.</p>
<p>“I’ve talked to brokers who tell me only one in 10 business customers ask for it, and it’s cents on the dollar,” Ann Talbot, chief financial officer of engineering and construction company Golden State Bridge, told the paper.  Hackers robbed Golden State of more than $125,000 in 2010, reports <em>The Times</em>; Talbot says she believes they used a social networking site to infect a company computer with malicious software.  Fortunately, Golden State had purchased fraud insurance after being hacked in 2006. <em>&#8211;Jillian D&#8217;Onfro</em></p>]]></content:encoded>
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		<title>Jobless Claims Increase by 6,000</title>
		<link>http://wire.inc.com/2012/06/14/jobless-claims-increase-by-6000/</link>
		<comments>http://wire.inc.com/2012/06/14/jobless-claims-increase-by-6000/#comments</comments>
		<pubDate>Thu, 14 Jun 2012 13:11:18 +0000</pubDate>
		<dc:creator>John McDermott</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Department of Labor]]></category>
		<category><![CDATA[Jobless Claims]]></category>
		<category><![CDATA[Unemployment]]></category>

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		<description><![CDATA[A total of 386,000 initial jobless claims were made for the week ending on June 9.]]></description>
			<content:encoded><![CDATA[<p>The number of initial jobless claims filed in the U.S. for the week ending on June 9 was 386,000, a 6,000 increase from the previous week, the <a href="http://www.dol.gov/opa/media/press/eta/ui/current.htm">Department of Labor announced</a> on Thursday.</p>
<p>The four-week moving average also increased, jumping 3,500 due to the recent bump.</p>
<p>The increase was unexpected; <a href="http://www.bloomberg.com/news/2012-06-14/jobless-claims-in-u-s-unexpectedly-rose-last-week.html">economists surveyed by Bloomberg</a> had projected that claims to fall by 5,000 to 375,000.</p>
<p>The job market continues to be weak. Unemployment was essentially flat in May, as the economy created a modest 69,000 jobs.&#8211;<em>John McDermott</em></p>
<p><em>Photo via <a href="http://www.flickr.com/photos/khalilshah/272829684/">Khalil Shah</a></em></p>]]></content:encoded>
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