The Memo: Equifax, Capital One and a great getaway
A humble business column you will just love
The Number: $0.21
That's how much money you will probably get from the Equifax data breach settlement that affected about 147 million people if everyone who is eligible claims their share. Personal data held by the credit reporting agency was reportedly compromised in September 2017, and if you go to www.equifaxbreachsettlement.com you will learn a proposed federal class action settlement would pay $125 or offer free credit monitoring services to everyone affected, no documentation required. I filled it out and started eagerly awaiting my check. But the Federal Trade Commission clarified last week that the settlement money is capped at $31 million, and all 147 million people are eligible to file for it, meaning that once 248,000 people have claimed (and you bet they already have) the checks start getting smaller — possibly down to $0.21. As the FTC headline says: "Equifax data breach: Pick free credit monitoring."
The Word: “We are delighted to have the deep, global level of mining experience Mr. Freyberg brings to the board,” PolyMet chairman Ian Forrest said in a statement last week announcing the addition of Glencore senior executive Peter Freyberg to the board. At first glance it looked as though Glencore was exerting some of its newfound majority ownership over the company by adding to its three-seat presence, but another Glencore employee, Mike Ciricillo, stepped down as Freyberg joined the nine-member board. As you were.
The Lead: So, back to data breaches — Capital One was recently the target of a boastful alleged hacker, potentially exposing credit card application data of more than 100 million people (though not credit card numbers or log-in credentials). Now what? If that's what's in your wallet, or if you even applied for a card between 2005 and early 2019, Capital One said it will "notify affected individuals through a variety of channels. We will make free credit monitoring and identity protection available to everyone affected." Find out more about what the company is calling the "cyber incident," no joke, at www.capitalone.com/facts2019 .
The Listing: Searching for homes on the biggest lots lately I came across a well-built log cabin way up McQuade Road north of Duluth. Listed at $235,9000, the 40-acre parcel has Big Sucker Creek frontage and wow it's only reachable by footbridge when you hit the Sucker.
The Meeting: National Night Out
Go outside and hang out with your community instead of talking smack about them on Nextdoor for a change. Find out where the closest block parties are happening Tuesday here and if you bring kale chips again Kyle I swear.
The Memo is a weekly roundup of things to know, ya know? Send business news of all kinds to firstname.lastname@example.org and give $125-richer reporter Brooks Johnson a call every now and then at 218-723-5329.