Reed Elsevier Unbowed by Data Breaches

Despite FBI investigations and civil law suits stemming from data breaches, Reed Elsevier is banking on data collection and sales. The Wall Street Journal reports that the company plans to push deeper into the business of collecting personal data on individuals for sale to employers, banks, lawyers and other clients, and quotes the company’s chief executive calling data collections “a highly attractive, long-term growth opportunity.”  At the same time, the paper points out, members of Congress are calling for laws mandating new security measures in the wake of the LexisNexis thefts, as well as other recent online security gaffes. The Journal quotes Chuck Richard, a New York-based analyst with research firm Outsell Inc., saying the people affected by these security breaches aren’t likely to have enough political clout to impose tough new restrictions on Reed and others.