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Day 7, Financial Fallout
7amNews.com's concise coverage of the Terrorist attacks and the USA's inevitable response continues. How are the critical US stockmarkets holding up under the threat of war? Get the latest reports.

For all the latest headlines and links on the terrorist attacks and US retaliation, check out the new World At War page.

An Opportunity Lost? 18 September 2001 Edition
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Million $ Ideas
At last, the contents of Aardvark's "million-dollar ideas" notebook are revealed for all to see!
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As stock markets around the world collapse and the Northern Hemisphere prepares for war, we're left asking ourselves whether there's any way NZ can be insulated from what might appear to be a rather dull outlook for our IT industry.

Well maybe there is...

New Zealand is about as far away as it is possible to get from the pending focus of western military action and possible terrorist responses -- so maybe our remote location and relative neutrality can work to our advantage.

With IT being pivotal to the operation of all Western economies, it is not at all unlikely that communications and data-processing facilities in the USA and Europe will become high-priority targets for terrorist attacks.

How useful would it be to have redundant processing and data storage tucked away on the backside of the planet then?

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Likewise, anyone embarking on the development or maintenance of large software projects might find New Zealand an even more attractive place to undertake such work.

With the prospect of a dirty and protracted battle on its doorstep, the lure of cheap IT resources from India might be a little less attractive to many US companies. Could we fill the gap?

To realise this potential opportunity we'd need a fairly well organised and well funded sales campaign. Unfortunately, such a thing is probably beyond the resources of most of NZ's IT companies. However, it's something that might be worthy of public funding -- given the long-term payback and the government's stated intention to move us into the knowledge economy.

Readers Say
(updated hourly)
  • I'd rather they blew something up offshore!... - Adam
  • FBI - You don't WANT feedback... - Rob
  • NZ as a Data Haven?... - Martnz
  • relations... - Dominic
  • NZ... - Sam
  • Have Your Say

    But here's the flaw in what might otherwise be a great plan.

    From what I read here, NZ is not interested in pledging military assistance to the USA or NATO anti-terrorism initiatives within the ANZUS framework.

    That has to count as a black-mark against us.

    Note: TV reports indicate that NZ *is* prepared to offer direct military assistance if called upon -- it's just that it will be outside the ANZUS alliance.

    As if we didn't have enough trouble with the Aussies considering us to be a bunch of asset-stripping bludgers over the Ansett affair, now we open ourselves to claims of shirking our responsibilities in respect to ANZUS.

    And, even if we could convince the USA and Europe that we're nice guys all the same -- there's the small issue of national security.

    With our Air Force being downgraded to little more than a trans-Tasman air-taxi service for stranded Prime Ministers -- how can we really expect the USA and Europe to believe that their data and development resources would be safe here?

    Another opportunity lost :-(

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    Security Alerts
    Microsoft tightens software security (CNet - 16/08/2001t)

    Code Red Worm A 'Runaway Success' (7amNews - 20/07/2001)

    Solaris bug gives hackers free rein (ZDNet - 22/06/2001)

    Microsoft Admits Another 'Serious Vunerability' In IIS 7amNews - 19/06/2001)

    Virus Alerts
    New worm spreading slowly (CNet - 4/09/2001)

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    'Sircam' Worm Getting Hotter (Wired - 20/07/2001)

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    The Day's Top News
    Open in New Window = open in new window
    New Zealand

    Open in New Window NZ promoted as e-biz hub
    New Zealand will be promoted as a safe centre for conducting global e-commerce at a meeting of APEC officials in South Korea this week...

    Open in New Window IT firms caught in downdraft
    Some of New Zealand's largest IT and outsourcing companies are trying to determine where they stand following the collapse of Ansett Australia and the crisis at Air New Zealand...
    NZ Herald


    Open in New Window Geeks Gather to Back Crypto
    Geektavists -- alarmed by pending anti-terrorism legislation -- meet to find ways to persuade legislators that American liberties, including privacy protections, should be upheld even in wartime...

    Open in New Window Terror Brings Visits, No Relief to Newspaper Sites
    Last week's terror attacks in the U.S. have highlighted a dilemma for newspapers' Web sites -- they bring a huge flood of readers but not much more income...

    Open in New Window Terrorism's Toll: Attacks Promise Wide Impact on Tech Sector
    As the devastating human toll of last week's terrorist attacks continues to be tallied, the economic consequences are also emerging, and they are expected to be far-reaching...

    Open in New Window Things To Consider Before Buying Windows XP
    Windows XP is scheduled to be available to the general public on Oct. 25, but before joining the throng who will upgrade, there are things to consider...

    Open in New Window Antispam Laws: Where Are They?
    Nearly half the states in the U.S. have tough anti-telemarketing calls on the books. But similar antispam laws are just a pipe dream ... for now...


    Open in New Window New principles to protect Australian IP rights
    The Australian Federal Government today moved to protect the intellectual property rights emerging from Australian academic research...

    Open in New Window Ansett customer service short-sited
    Ansett concedes that it is disappointed after investing “good money” and “years of development” implementing an interactive Web site that lasted less than a month...


    Open in New Window Open source rocked by patent dispute
    The Free Software Foundation on Friday took aim at RTLinux and FSMLabs, the company that distributes it, claiming that FSMLabs has used a patent license to violate the GNU General Public License...

    Open in New Window Time to crack down on Internet content?
    HowStuffWorks.com is a fascinating Web site where people can learn how televisions work, or what a surprisingly small amount of gold exists in the world...

    Open in New Window Hijackers May Have Accessed Computers At Public Libraries
    Investigators are looking into the possibility some of the suspected hijackers in last week's deadly attacks on Washington and New York may have communicated with each other by using computers at public libraries...

    Open in New Window Australian software pirates not even charged
    "So what if it's pirated? You don't have a right to be in here unless you have a warrant."...

    Open in New Window I.S.P.'s Curb Terrorist Postings and an Anti-Islamic Backlash
    For Internet service companies, the aftermath of last week's terrorist attacks has meant new scrutiny of the material that their online users can view and post...

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