Links
Archives
- Dec 23, 2005
- Jan 15, 2006
- Jan 19, 2006
- Jan 20, 2006
- Jan 27, 2006
- Feb 2, 2006
- Feb 3, 2006
- Feb 10, 2006
- Feb 24, 2006
- Mar 2, 2006
- Mar 10, 2006
- Mar 17, 2006
- Apr 25, 2006
- Apr 28, 2006
- Apr 29, 2006
- May 26, 2006
- Jun 2, 2006
- Jun 9, 2006
- Jun 23, 2006
- Jun 30, 2006
- Jul 7, 2006
- Jul 17, 2006
- Jul 28, 2006
- Aug 11, 2006
- Aug 18, 2006
- Sep 1, 2006
- Sep 8, 2006
- Sep 16, 2006
- Sep 22, 2006
- Oct 23, 2006
- Oct 27, 2006
- Nov 3, 2006
- Nov 10, 2006
- Nov 17, 2006
- Dec 8, 2006
- Dec 21, 2006
- Dec 22, 2006
- Jan 19, 2007
- Jan 26, 2007
- Feb 6, 2007
- Feb 16, 2007
- Mar 2, 2007
- Mar 9, 2007
- Mar 14, 2007
- Mar 16, 2007
- Mar 21, 2007
- Mar 22, 2007
- Mar 23, 2007
- Apr 2, 2007
- Apr 3, 2007
- Apr 5, 2007
- Apr 6, 2007
- Apr 9, 2007
- Apr 11, 2007
- Apr 12, 2007
- Apr 13, 2007
- Apr 17, 2007
- Apr 18, 2007
- Apr 19, 2007
- Apr 20, 2007
- Apr 23, 2007
- Apr 25, 2007
- May 1, 2007
- May 2, 2007
- May 3, 2007
- May 7, 2007
- May 9, 2007
- May 10, 2007
- May 11, 2007
- May 15, 2007
- May 17, 2007
- May 21, 2007
- May 22, 2007
- May 24, 2007
- May 25, 2007
- Jun 1, 2007
- Jun 6, 2007
- Jun 7, 2007
- Jun 8, 2007
- Jun 12, 2007
- Jun 14, 2007
- Jun 15, 2007
- Jun 19, 2007
- Jun 21, 2007
- Jun 22, 2007
- Jun 27, 2007
- Jun 29, 2007
- Jul 10, 2007
- Jul 13, 2007
- Jul 17, 2007
- Jul 18, 2007
- Jul 19, 2007
- Jul 27, 2007
- Jul 31, 2007
- Aug 1, 2007
- Aug 3, 2007
- Aug 7, 2007
- Aug 8, 2007
- Aug 9, 2007
- Aug 10, 2007
- Aug 13, 2007
- Aug 14, 2007
- Aug 15, 2007
- Aug 17, 2007
- Aug 20, 2007
- Aug 21, 2007
- Aug 22, 2007
- Aug 24, 2007
- Aug 26, 2007
- Aug 28, 2007
- Aug 29, 2007
- Aug 30, 2007
- Aug 31, 2007
- Sep 6, 2007
- Sep 7, 2007
- Sep 10, 2007
- Sep 19, 2007
- Sep 20, 2007
- Sep 26, 2007
- Sep 27, 2007
- Oct 2, 2007
- Oct 11, 2007
- Oct 16, 2007
- Oct 18, 2007
- Oct 20, 2007
- Oct 22, 2007
- Oct 23, 2007
- Oct 24, 2007
- Oct 25, 2007
- Oct 26, 2007
- Oct 29, 2007
- Oct 30, 2007
- Nov 2, 2007
- Nov 5, 2007
- Nov 7, 2007
- Nov 9, 2007
- Nov 11, 2007
- Nov 13, 2007
- Nov 15, 2007
- Nov 18, 2007
- Nov 19, 2007
- Nov 20, 2007
- Nov 27, 2007
- Nov 30, 2007
- Dec 3, 2007
- Dec 4, 2007
- Dec 5, 2007
- Dec 6, 2007
- Dec 11, 2007
- Dec 12, 2007
- Dec 17, 2007
- Dec 18, 2007
- Dec 19, 2007
- Dec 23, 2007
- Dec 27, 2007
- Dec 28, 2007
- Jan 3, 2008
- Jan 10, 2008
- Jan 15, 2008
- Jan 17, 2008
- Jan 21, 2008
- Jan 23, 2008
- Jan 24, 2008
- Jan 25, 2008
- Jan 28, 2008
- Jan 31, 2008
- Feb 1, 2008
- Feb 4, 2008
- Feb 5, 2008
- Feb 6, 2008
- Feb 7, 2008
- Feb 8, 2008
- Feb 11, 2008
- Feb 14, 2008
- Feb 15, 2008
- Feb 20, 2008
- Feb 21, 2008
- Mar 5, 2008
- Mar 6, 2008
- Mar 7, 2008
- Mar 10, 2008
- Mar 11, 2008
- Mar 13, 2008
- Mar 20, 2008
- Mar 21, 2008
- Mar 27, 2008
- Mar 28, 2008
- Mar 31, 2008
- Apr 3, 2008
- Apr 4, 2008
- Apr 9, 2008
- Apr 10, 2008
- Apr 16, 2008
- Apr 17, 2008
- Apr 18, 2008
- Apr 23, 2008
- Apr 24, 2008
- Apr 25, 2008
- Apr 28, 2008
- May 1, 2008
- May 6, 2008
- May 15, 2008
- May 16, 2008
- May 19, 2008
- May 21, 2008
- May 22, 2008
- May 23, 2008
- May 28, 2008
- May 29, 2008
- May 30, 2008
- Jun 3, 2008
- Jun 5, 2008
- Jun 11, 2008
- Jun 13, 2008
- Jun 17, 2008
- Jun 18, 2008
- Jun 19, 2008
- Jun 25, 2008
- Jun 27, 2008
- Jul 2, 2008
- Jul 9, 2008
- Jul 13, 2008
- Jul 18, 2008
- Jul 22, 2008
- Jul 25, 2008
- Jul 30, 2008
- Jul 31, 2008
- Aug 6, 2008
- Aug 8, 2008
- Aug 14, 2008
- Aug 19, 2008
- Aug 22, 2008
- Aug 25, 2008
- Aug 28, 2008
- Sep 8, 2008
- Sep 9, 2008
- Sep 10, 2008
- Sep 16, 2008
- Oct 2, 2008
- Oct 9, 2008
- Oct 16, 2008
- Oct 21, 2008
- Oct 23, 2008
- Oct 24, 2008
- Oct 30, 2008
- Oct 31, 2008
- Nov 5, 2008
- Nov 20, 2008
- Nov 21, 2008
- Dec 5, 2008
- Dec 8, 2008
- Jan 9, 2009
- Jan 14, 2009
- Jan 16, 2009
- Feb 13, 2009
- Feb 20, 2009
- Feb 27, 2009
- Mar 6, 2009
- Mar 20, 2009
- Mar 27, 2009
- Apr 17, 2009
|
Friday, March 17, 2006
From Problems to Profits
There's nothing more American than finding opportunity in adversity, and turning lemons into lemonade. This kind of creative thinking often becomes the stuff of legend and can create enormous wealth. But what if you are creating the very problem you are solving? Two articles in Wednesday's Wall Street Journal offer examples of this phenomenon. The first dealt with recent moves by the nation's big three credit bureaus to further cash in on rapidly rising consumer interest in credit scores and reports. What's driving consumer interest in this information? Identity theft (for which the credit bureaus must assume at least some responsibility), and data processing errors by the credit bureaus that erroneously reduce people's credit scores. In short, the credit bureaus have discovered a lucrative business in letting consumers double-check their work, which is seemingly sloppy enough to warrant hundreds of millions of dollars in report sales annually. In another article on the same day, it was reported that a growing number of guidance counselors and college test preparation services are recommending that students purchase backup scoring services to verify results of SAT tests run by the College Board. The backup scoring services, which can range from $10 to $100 on top of the $41.50 fee for taking the SAT test, are available from only one source: the College Board. Why the sudden push to verify test results? A wave of recent bad publicity about scoring errors that wrongly lowered the test scores of thousands of students, admittedly a uncommon occurrence for the College Board. But here, too, the data provider has become, albeit inadvertently, a beneficiary of its errors. These two examples seem like anomalies in a time when we all agree that the customer rules. What does, in fact, set these entities apart is that the information they generate and report can have a huge impact on our lives. Yet this great power over the lives and livelihoods of individuals must be matched with an equal level of responsibility to do the job properly. Certainly the College Board can be excused for isolated errors. They happen. But in the case of the credit bureaus, telling individuals in effect that data accuracy and quality control is ultimately their responsibility, and then charging them to perform it, sends absolutely the wrong message. And the perverse incentives created when errors and sloppiness can generate large amounts of revenue only works to further erode trust in these organizations.
# posted by Russell @ 12:11 PM
|