Re: WSJ Article - A Contrarian View on Data Breaches

["Manjak, Martin" <mmanjak () ALBANY EDU>]

At that price point, the reputational cost becomes moot.

Marty Manjak
ISO
University at Albany

From: The EDUCAUSE Security Constituent Group Listserv [mailto:SECURITY () LISTSERV EDUCAUSE EDU] On Behalf Of Ruth 
Ginzberg
Sent: Tuesday, August 05, 2014 3:05 PM
To: SECURITY () LISTSERV EDUCAUSE EDU
Subject: Re: [SECURITY] WSJ Article - A Contrarian View on Data Breaches

Speaking of cost, Maricopa Community College is certainly feeling the pinch:

http://www.bizjournals.com/phoenix/morning_call/2014/05/data-breach-costs-nearing-20-million-formaricopa.html
"With the approval of an additional $2.3 million for lawyers' fees by its governing board, the costs to the Maricopa 
Community College District for last year's data breach are approaching $20 million."
Obviously losses can far exceed the cost of credit monitoring for affected persons.

Ruth Ginzberg, CISSP, CTPS
Sr. I.T. Procurement Specialist
University of Wisconsin System

rginzberg () uwsa edu<mailto:rginzberg () uwsa edu>
608-890-3961<about:blank>


________________________________
From: "Harry Hoffman" <hhoffman () IP-SOLUTIONS NET<mailto:hhoffman () IP-SOLUTIONS NET>>
To: SECURITY () LISTSERV EDUCAUSE EDU<mailto:SECURITY () LISTSERV EDUCAUSE EDU>
Sent: Tuesday, August 5, 2014 1:59:46 PM
Subject: Re: [SECURITY] WSJ Article - A Contrarian View on Data Breaches

Nice, so that’s certainly a cost… but is it a reputational cost?

And anyone who’s had to buy insurance and cover costs of identity theft knows that a significant portion of those 
covered don’t actually opt in for the coverage so those numbers maybe inflated.

Cheers,
Harry



On Aug 5, 2014, at 2:48 PM, Wendy Wallman <wwallman () rochester rr com<mailto:wwallman () rochester rr com>> wrote:

> Funny timing - an article with LA Times just posted an hour ago where Target
> has calculated a dollar amount associated with the breach
>
> Target cuts forecast, pegs data breach costs at nearly $150 million
>
> http://www.latimes.com/business/la-fi-target-data-breach-20140805-story.html
>
>
>
> -----Original Message-----
> From: The EDUCAUSE Security Constituent Group Listserv
> [mailto:SECURITY () LISTSERV EDUCAUSE EDU] On Behalf Of McClenon, Brady
> Sent: Tuesday, August 05, 2014 12:00 PM
> To: SECURITY () LISTSERV EDUCAUSE EDU<mailto:SECURITY () LISTSERV EDUCAUSE EDU>
> Subject: Re: [SECURITY] WSJ Article - A Contrarian View on Data Breaches
>
> http://www.marketwatch.com/investing/Stock/TGT/financials/income/quarter
>
> Sales seemed to dive in Q1 for Target, but that's post-Christmas.  You would
> expect a drop in sales.  Wal-Mart follows the same pattern, albeit not as
> sharp, but Target had better Q4-2013 growth (which included 42 days after
> breach disclosure).
>
> Also, the day of the breach disclosure target stock sat around $61.  It fell
> to a low of $54 and is already back to $59 less than 8 months later.
>
> I think the jury is still out on reputation impacts of the breach...
>
>
> Brady McClenon
> Information Technology Security Administrator Information Technology
> Services SUNY College at Oneonta
> 607-436-3203
>
> "Quotes found on the internet are not always accurate."  - Abraham Lincoln
>
>
>
>
>
>
>
>
> -----Original Message-----
> From: The EDUCAUSE Security Constituent Group Listserv
> [mailto:SECURITY () LISTSERV EDUCAUSE EDU] On Behalf Of Julian Y Koh
> Sent: Tuesday, August 05, 2014 10:16 AM
> To: SECURITY () LISTSERV EDUCAUSE EDU<mailto:SECURITY () LISTSERV EDUCAUSE EDU>
> Subject: Re: [SECURITY] WSJ Article - A Contrarian View on Data Breaches
>
> On Tue Aug 05 2014 09:00:19 CDT, Harry Hoffman <hhoffman () IP-SOLUTIONS NET<mailto:hhoffman () IP-SOLUTIONS NET>>
> wrote:
> > As far as I know Target suffered no loss of sales as a result of the
> breach so how exactly are we measuring impact?
> >
>
> <http://www.forbes.com/sites/maggiemcgrath/2014/02/26/target-profit-falls-46
<http://www.forbes.com/sites/maggiemcgrath/2014/02/26/target-profit-falls-46%0b>> 
-on-credit-card-breach-and-says-the-hits-could-keep-on-coming/>
> --
> Julian Y. Koh
> Acting Associate Director, Telecommunications and Network Services
> Northwestern University Information Technology (NUIT)
>
> 2001 Sheridan Road #G-166
> Evanston, IL 60208
> 847-467-5780
> NUIT Web Site: <http://www.it.northwestern.edu/> PGP Public
> Key:<http://bt.ittns.northwestern.edu/julian/pgppubkey.html>