Wednesday, June 6, 2007

TJX CEO Apology

Apparently TJX CEO Carol Meyrowitz (who, it bears mentioning, was not CEO at the time that the breach occurred) apologized for The Biggest Data Breach Ever at a shareholder meeting earlier this week. Unfortunately the entirety of the meeting is not online yet, but quotes her as saying,

"But we had locks."

I'm forced to assume that this is a metaphor, not meant to be taken literally. You know, cuz shareholders are dumb and don't understand words like "authentication" or "encryption." So reading between the lines here, Meyrowitz is contradicting what a well-respected Gartner source has said about the lack of wireless security.

I hope Ms. Meyrowitz isn't offended if I don't take her word for it. Either way, it's what she apparently didn't say that bothers me. There seems to have been no talk of what steps TJX has taken or how much they've invested in improving IT security at TJX in order to reduce the risk of a second breach. I'm no stock trader, but uh...

Recommendation: Strong Sell

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