Wall Street Folly

Apple gets sued over iPhone bugs

Let the lawsuits begin: With all the reports of dropped calls from users of the Apple iPhone, it was inevitable that someone would sue.  And they have.  Jessica Alena Smith, from Birmingham Alabama filed suit in U.S. District Court in Alabama.  According to the San Francisco Chronicle:

Reports of iPhone cases cracking are surfacing

So much for using plastic for the cases of the new iPhone 3g. Hairline cracks seem to be developing in many of the units only a few weeks after the newest hot toy came out.  According to Apple Insider,

Those tracking the issue in an Apple support discussion thread and elsewhere say the hairline fractures most often appear on the plastic shell near the corners of the device, particularly near the headphone jack, ringer switch, and volume controls.

The flaws appear regardless of how gently the user takes care of the phone and can increase in number, according to multiple claims, although there are no known reports of existing cracks growing in size. At least a few users, however, report cracks deep enough to create a visible opening, particularly at the headphone jack.

iPhone 3G owners report hairline cracks in their phone's casing - Apple Insider

Are cell phone termination fees illegal? They might be, in California

In a blow to cell phone service providers that could have broad national implications, a California court has ruled that early termination fees violate state law.  That's the first decision in the country that deems the nasty fees illegal.  According to Mercury News:

In a preliminary ruling Monday, Alameda County Superior Court Judge Bonnie Sabraw said Sprint Nextel must pay California mobile-phone consumers $18.2 million as part of a class-action lawsuit challenging early termination fees....

Whether Sabraw's ruling will stand isn't clear. Experts say an appeal is likely, and the Federal Communications Commission is considering imposing a rule - backed by the wireless industry - which might decree that only federal authorities can regulate early termination fees.

Sprint early termination fees are illegal, judge rules - Mercury News

Public service announcement: You may want to think twice about taking on a charging cell phone

A word of warning to all of you cell phoneaholics: According to Gizmodo, a guy in Ghana who answered his phone which was charging from an electrical phone jack was almost fried. 

Men, Listen up: Cell phone use may affect the quality and quantity of your swimmers

Attention all men:   If you spend hours and hours on your cell phones doing deals as many on Wall street do, your sacred swimmers may be at risk according to a new study:

The number of hours a man talks on a cellular phone each day may affect his fertility, with sperm count and quality deteriorating as the duration of calls increases, according to researchers in reproductive medicine.

Scientists in Cleveland, Mumbai and New Orleans tracked 364 men who were being evaluated for infertility, and split them into three groups based on sperm count. In the group whose sperm counts were within the normal range, those who used a cell phone more than four hours a day produced on average 66 million sperm per milliliter, 23 percent less than those in the group who didn't use the phones at all.

The proportion of the cell-phone users' sperm that possessed ``normal forms'' was 21 percent, almost half the 40 percent of normal sperm produced by men who didn't use the phones, said the researchers, who presented their conclusions this week in New Orleans at the annual convention of the American Society for Reproductive Medicine.

Cell-phoneus interruptus: One in five would pick up during sex

That's what Dan Schulman, CEO of cell phone operator Virgin Mobile says.  We'd venture to guess that's one in five of the general population.  But on Wall Street we bet that number flips dramatically.  If you polled a group of traders / investment bankers / hedgies we're pretty certain that more like 1 in 5 WOULDN'T answer.  And maybe even EVERYONE would pick up....

Come on....fess up....let us know if you would pick up or let it ring....

Chicago bank bans cell phone use

The First National Bank, a Chicago based institution, is pulling the plug on cell phone use while you're inside their branches.  It's not because people are getting more rude and babbling loudly (which of course they are) --- it's for security purposes, so that criminals can't use their phones to plot bank robbery getaways....