Author Archives for Herb Weiss

Mistaken Identity Can Be Hazardous to Your Business

Published in Golocalprov.com, October 24, 2014

Just three weeks before the City of Providence’s election for Mayor, Eastside customers of The Camera Werks, a long-time fixture on Hope Street, expressed concern over a recent letter to the editor (LTE) written by a Patricia Louise Zacks, who they surmised was the retail store owner. The small neighborhood retail establishment has operated for over 27 years, serving three generations of customers.

Unaware of the published letter, visitors and emails began coming in regarding the LTE, which left the shop owner. Patricia Susan Zacks, confused. Through conversations, she quickly learned that emails were circulating throughout the East Side neighborhood, linking her to the editorial letter that she never wrote. In sharp protest to the views of the editorial letter, longtime customers pledged to bring their business elsewhere.

Last week’s political drama came about because of mistaken identities. The October 15 LTE, was actually penned by Providence resident, Patricia Louise Zacks, who is now married to the retail store owner’s former husband.

The mistake of mixing up the two Zacks’ identities might not have occurred if Providence Journal newspaper readers had gotten the facts straight before they circulated the LTE to Eastside friends among the Summit Neighborhood. Each Zacks has a different middle name and reside in different cities, one is an East Side resident in Providence, and the other is a Pawtucket resident in Oakhill, just across the Providence city line.

Patricia Susan Zacks, the camera store owner, attempted to use Face Book to clarify that the author of the LTE was not her, but rather a Providence resident, stating “I am a Pawtucket resident who has been a Hope Street merchant for over 27 years and have proudly served my customers. I extend best wishes to all the candidates and look forward to working with whomever the voters decide for the future of Providence.”

Coming to Like Buddy, More

The LTE’s heading, “Journal’s fear of Cianci leads us to support him,” summed up Providence resident Patricia Louise Zacks’ personal journey to ultimately support the former Providence mayor, she says. The Eastside resident of 10 years who works for the State’s Department of Transportation notes that she and her husband “sat on the fence,” for a while not able to decide whether to cast their vote for Housing Court Judge Jorge Elorza or Cianci.

The couple knew of Cianci’s previous felony convictions (acknowledging he served his time and legally had a right to run for mayor) but that he was able to run a City and provide needed services to its residents. Elorza had “impressive credentials,” too, making their political decision, virtually “an impossible choice,” noted Patricia Louis Zacks. She also pointed out in her LTE that Cianci has little to hide, he’s an open book to the voters because of the coverage in the Providence Journal, editorials, op eds, and debates.

Finally, the LTE noted that the straw that broke the camel’s back was the continual attack on Cianci by the Providence Journal combined with an attempt by East Siders to secretly raise $1 million to defeat the two-time convicted felon.

Patricia Louise Zacks notes that after she went public with her household’s support for Cianci, several spiteful messages were left on her answering machine. One caller gave his support for her candidate, but others made typically insulting remarks.

“I expected I would get all sorts of flack, but I didn’t get upset or angry because I could just hit the delete button,” she said.

But, Patricia Louise Zacks also learned of the negative impact of her LTE on another person, one who carried her last surname.

Looking back, “What kind of world do we live in where I cannot exercise my constitutionally-protected right to express my personal opinion in a local newspaper without causing professional and possibly even financial damage to a woman [with the same last name] who owns a small photography and framing business, and is also someone I personally know, admire, and hold in high esteem,” says Patricia Louise Zacks, quipping. “How in God’s name can such a thing happen?”

Chiding those who punish merchants because of who they politically support, she believes offering a quality product or service at a fair price should be more than enough for any businessperson to offer. “Making that owner’s religion, sexual orientation, race, and gender – especially that person’s political ideology – a part of the transaction is, in my opinion, vindictive and small-minded,” charges Patricia Louise Zacks.

A Political Moral

Living in a democracy gives us many rights and privileges, including the entitlement to support a particular political candidate and the right to publically publicize that choice.

Over the years, political campaigns have become a blood sport, even more so in controversial campaigns like the Cianci-Elorza race. Patricia Louise Zacks voiced her support for Cianci, giving us examples of how she reached this decision (to the dismay of many Eastsiders) in a LTE printed in the Providence Journal, the largest major daily in the Ocean State.

But, it was Patricia Susan Zacks who faced the wrath of Eastside readers, many of her customers, because they mistakenly believed she was endorsing the former Providence mayor, a candidate that they were working hard to defeat. Circulating emails with this LTE attached only added fuel to the intense political drama in Rhode Island’s largest community.

One well-placed Elorza supporter told this columnist that he saw no problem boycotting businesses if the owner was not in sync with their choice of candidates. But, in my opinion winning an election should not be based on a “torch and burn” mentality because of differing political views.

For those who want to use their economic clout to support their candidates, I urge them to get the facts straight. Here is a situation where people took action based on faulty information.

If people have differing positions on candidates or policy issues, they can just agree to disagree. When the dust settles after the upcoming Nov. 4 election, whoever carries the day, the sun will surely rise the next day. I can guarantee that one.

Herb Weiss, LRI ’12, is a Pawtucket-based writer who covers aging, health care and medical issues, who just happens to be the husband of Patricia S. Zacks. He can be reached at hweissri@aol.com

Credit Breaches Are Hazardous to Your Financial Health

Published in Pawtucket Times, October 17, 2014

It seems to happen all the time. Just recently Target Corporation, Home Depot, Dairy Queen and Neiman Marcus – followed by Michaels, and more recently JPMorgan Chase and Kmart – found their data systems being breached. I thought that I had dodged the bullet from being a victim until last month when I received a letter from my local savings and loan warning me about a potential security breach affecting my credit card.

Data breaches and hacking annually affect millions of Americans, costing billions of dollars and countless hours for consumers to correct problems resulting from identity theft and fraud that results in their checks bouncing and being accessed late fees.
Data Breaches Not a Rare Occurrence

What exactly is a data breach? Simply put, a data breach occurs when a company’s database, typically containing customer information, is hacked by sophisticated malware programs that can infiltrate a company’s network, sometimes for months before being noticed.

“Not that long ago, we were taught to always know where your wallet or purse was to ensure we didn’t fall victim to a pickpocket. Yesterday’s common street thief is today’s computer hacker, and it is often months before you realized they’ve virtually picked your pocket,” said Attorney General Peter Kilmartin.

According to the Rhode Island Attorney General, his staff has been busy in the past year informing consumers about the data breaches at some of best-known retail and financial companies. He says last year, there were multiple reports of massive data breaches at the nation’s largest corporations. According to a recent survey, 43 percent of companies have suffered one data breach this past year, and 60 percent say they’ve been struck by multiple data breaches in the last two years.
“In today’s technology–driven and paperless retail marketplace, it is inevitable that some, if not all, of your personal and financial information – credit card and banking information, email, and social security number – will be compromised,” warns Kilmartin.

Congressman James Langevin has been a leader on the issue of cyber security, and is leading efforts inside the Washington Beltway. “Stories of public data breaches are becoming increasingly common, and if a Fortune 500 company is susceptible to these types of breaches, we can be sure that similar attacks are possible among other retailers and businesses,” said Congressman Jim Langevin, the co-founder and co-chair of the Congressional Cybersecurity Caucus. “I have been sounding the alarm on cybersecurity for years, and I fear the consequences if we delay any further the steps needed to strengthen our technology infrastructure,” said Langevin.

The Democratic lawmaker, serving the second congressional district since 1991, says, “I am particularly concerned about the potential for cyber attack against critical infrastructure, including our power grid, wastewater management and banking and health care systems, just to name a few. All of these essential services are tied into technology, and it is going to take both a strong commitment from government and a continued partnership between public and private industry in order to get us where we need to be on cyber security. Securing these networks must be a priority, and I believe it is a crucial component of our national and economic security strategies.”

Kilmartin says make no doubt about it, data breaches are a crime, but law enforcement has significant hurdles to overcome when investigating cyber crimes. “Companies that have been targets of recent data breaches are working with federal law enforcement authorities to investigate how the breach happened and who is responsible,” he notes, stressing that early evidence shows that most of the sophisticated criminal enterprises that commit cyber crimes operate outside of the United States, often in Eastern Europe. “The hackers are out of the reach of traditional law enforcement and US Courts, but that has not stopped local, state and federal authorities from investigating,” he says.

Consumers Must Become Their Own Watchdog

“Consumers in today’s world need to continually monitor their electronic purchases, their personal medical information, as well as their banking records. Consumers can follow all the rules to protect their information, and if a business or other entity entrusted with this information is vulnerable, consumers, through no fault of their own, can still be impacted. Many times, a consumer’s first contact with law enforcement may be dealing with the aftermath of a data breach or identity theft. Please know that we are there to help you and will thoroughly investigate to resolve these crimes,” stated Colonel Steven G. O’Donnell, Superintendent of the Rhode Island State Police.

Kilmartin also confirmed that he and attorneys general in several states are looking into these data breaches and hope to get answers from the companies targeted as to how and why they took place. “There are multi-state investigations by attorneys general into how these companies left consumer information vulnerable to an attack,” he said, noting, “as consumer advocates, we are determined to get to the bottom of these data breaches and to work with the companies to better protect the consumer.”

Kilmartin believes it is up to consumers to be their own watchdog: “While companies and law enforcement officials are trying to put an end to this trend, the only way someone can protect themselves is to be vigilant in monitoring their personal and financial information. And by that, I mean check your banking and credit card statements regularly and limit how much information you share with companies.”

Keeping Credit Card Thieves At Bay

Kilmartin says, “I always tell consumers that the best way to protect yourself from scams is education. Being wary of potential scams, and being a savvy consumer is the best way to stop a scam artist in their tracks.” He offers the following common sense tips to protect your credit:

Check your credit card and debit card statements regularly, and on a line-by-line basis. One may think to only look for large unauthorized charges, but thieves may place a small charge – only a few dollars – to check if the card is active. If that charge goes unnoticed, thieves will then make a large unauthorized purchase. Report all suspicious charges, no matter how small. And, check your statements every day if possible. “It may be too late to recoup some or all of your money if you don’t report it immediately,” said Kilmartin.

If you notice an unauthorized charge, report it to your financial institution immediately, cancel the card and have the bank issue you a new one.

Kilmartin recommends consumers take advantage of free credit monitoring many affected companies are offering. “Companies who have been impacted by a data breach don’t want to lose customer loyalty. Many offer up to one free year of credit monitoring for any consumer who shopped there during the breach,” he adds.

Consider adding a fraud alert to your credit report file to protect your credit information. A fraud alert can make it more difficult for someone to get credit in your name because it tells creditors to follow certain procedures, which may include contacting you directly, before authorizing the credit card, says Kilmartin, noting that while this may delay your ability to obtain credit immediately, it will protect you from someone fraudulently opening a credit card in your name.

Kilmartin urges Rhode Islanders to be suspicious of emails, phone calls, or text messages claiming to be from your bank or a retailer you shopped at. Hackers may not have gained access to all the information they need, and will often use the information they do have, like name, date of birth or credit card number to convince you to part with even more sensitive information, such as passwords or social security numbers. When in doubt, call your financial institution directly with questions. The phone number is usually on the back of credit cards and debit cards.

Update your computer’s anti-virus software. Just as hackers have wormed their way into secure databases at large-scale companies, they can worm their way into your computer.

Change your passwords. The most basic way to stop an intruder is to lock the door. Set strong passwords and don’t reuse them for different accounts, especially for accounts that involve your banking or credit card information.

Go “old school” and pay with cash or check. While we have become accustomed to using credit and debit cards to make everyday purchases, every company still takes U.S. currency.

Under federal law, you are entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting agencies. You may obtain a free copy of your credit report by going to http://www.annualcreditreport.com or by calling (877) 322-8228.

Herb Weiss, LRI ’12, is a Pawtucket writer who covers aging, health care, and medical issues. He can be reached at hweissri@aol.com.

Study: Citizens Over Age 50 Not a Drain on Economy

Published in Pawtucket Times, October 10, 2014

Almost one year ago, Oxford Economics in cooperation with AARP released a briefing paper, The Longevity Economy. The national study gave the nation’s largest aging advocacy group the ammunition it needed to dispel the myth that baby boomers and seniors are not a drain on the nation’s economy, rather researchers found that they drivers of the nation’s economic growth. This data will keep businesses, investors and inventors from overlooking the wants and needs of older Americans as they develop new products and business plans.

This week the national analysis was supplemented, detailing the state level contribution of people over 50.

Shattering a Myth

According to Jody Holtzman, AARP’s Senior Vice President Thought Leadership, the nonprofit aging advocacy group commissioned the initial Longevity Economy report from Oxford Economics to challenge society’s and Washington’s misconceptions that people over age 50 are only a drain on the economy. He said, “to the contrary the analysis shows that this population is an important driver of economic growth in key sectors of the United State economy such as technology, healthcare, travel and education.”

Holtzman says the formal economic impact analysis has been conducted, both nationally at the state level can shift the way federal and state policy makers will view the nation’s aging population. “Not only can we “afford” the growing population of older people, we can’t do without them, as they are a key source of economic growth, jobs, salaries, and taxes that benefit people and families of all ages and generations,” he says.

“The economic activity of the Longevity Economy provides employment for nearly 89 million Americans with $3.8 trillion in salary and wages, contributes $1.75 trillion in Federal and state and local taxes annually and is a huge source of charitable giving, contributing nearly $100 billion annually to a variety of causes and concerns – nearly 70% of all charitable donations from individuals,” says Holtzman.

The 19 page study notes that by 2032, it is projected that over age 50 Americans will make up about 52 percent of the US GDP. The average wealth of the households of these individuals is almost three times the size of those headed by people ages 25 to 50.

As to technology, Baby Boomers (ages 50 to 68) are heavy users of the internet and social networking and they spend more time online when compared to either Generation X (ages 34 to 49) and Generation Y (ages 14 to 33) consumers. Boomers average online spending over a three month period amounts to $650 outpacing the two younger generations.

Researchers also found that those over age 50 fill nearly 100 million jobs, generating over $4.5 trillion in wages and salaries.

The Longevity Economy is not a passing phenomenon, observes Holtzman, noting that increased life spans will result in a “consistently large over-50 population even after the Baby Boomer wave has crested.”

Holtzman adds, “The particular wants and needs of the Longevity Economy when it comes to consumer spending, housing, healthcare and employment have dramatic implications for business, society and government.” Not only does the Longevity Economy have a strong, net positive economic impact on the nation’s economy, the nation’s age 50 and over “will also continue to serve as a significant resource and safety net for their parents and children.”

A Snap Shot of Rhode Island

Despite being 36 percent of the state’s population in 2013 (expected to reach 38 percent in 2040), the total economic contribution of the Longevity Economy accounted for 46 percent of Rhode Island’s GDP, or $24 billion, noted by AARP’s release of its state specific analysis. The impact on the state’s GDP was driven by $18 billion in consumer spending by over 50 households.

Rhode Island’s $24 billion Longevity Economy GDP supported 54 percent of the state’s jobs (0.3 million), 47 percent of employee compensation ($14 billion), and 52 percent of state taxes ($2 billion), says the state specific economic analysis,

Also, the state specific dated noted that the greatest number of jobs supported by the Longevity Economy were in health care (88,000), retail trade (47,000) and accommodation & food service (33,000). Overall, people over age 50 make up 34 percent of the state’s workforce. Sixty seven percent of the workers ages 50 to 64 are employed compared to 79 percent ages 25 to 49.

Finally, 11 percent of the state’s older workers (ages 50 to 64) are self-employed entrepreneurs, compared with 7 percent of people ages 25 to 49. Forty four percent of these older workers work in professional occupations, compared to 47 percent of the younger workers.

The [Rhode Island] analysis takes a closer look at something we have known for some time,” said AARP Rhode Island State Director Kathleen Connell. “Rhode Islanders 50-plus are an important driver of our state’s economy,” she says.

Connell says the data complements findings in a paper published recently by the journal PLOS ONE, a group of international researchers at the International Institute of Applied Systems Analysis, the Max Planck Institute and the University of Washington. “It concluded that as retirement approaches and certainly after retirement, leisure time increases. And while there are many who will gear down, relax, travel and devote time to grandchildren (traditional retirement), Baby Boomers – better educated, healthier and with greater access to information than any previous generation of retirees – will have much more time to provide the energy and intellectual capacity, as well as the capital resources to help drive innovation,” she adds.

“With that in mind, AARP partners with the Small Business Administration to support ’encore entrepreneurs’ 50 and older. I agree with SBA Administrator Karen Mills, who says retirees are using their decades of expertise and their contacts to start new businesses and to finally pursue that venture that has been stirring their dreams for all these years,” Connell says.

“So not only do the people who make up the longevity economy represent an economic impact,” Connell added, “they are in a position to be leaders in innovation.”

AARP’s economic data analysis has shattered the age-old myth that a growing older population will ultimately bankrupt the federal and state’s budgets because of the need for increased programs and services for these individuals. Data shows us that America’s oldest generations can be considered the gas that revs the state and nation’s economic engine. Federal and State policy makers need to get this point.

Herb Weiss, LRI ’12, is a Pawtucket-based writer who covers aging, health and medical care issues. He can be reached at hweissri@aol.com.