Spies in the Skies
In an exclusive by The Wall Street Journal, we find that the U.S. Justice Department is scooping up data
from thousands of mobile phones through devices deployed on airplanes.
These “dirtboxes”—as they are known to law-enforcement officials—mimic
cellphone towers, tricking mobile phones into reporting their unique
registration information. Our story looks at the technology in use,
details the sophistication of the DOJ’s secret program and raises
questions about privacy and legal concerns. The high-tech hunt is meant
to focus on criminal suspects, but we note that it also sifts through
the phones of thousands of innocent Americans. The existence of the
cellphone program could escalate tensions between Washington and
technology companies, including the telecom firms whose devices are
being redirected by the program. Here’s a brief rundown on the secret program and a short video explainer.
Fork in the Road
President Barack Obama will announce as early as next week executive action to overhaul the U.S. immigration
system—a move that would test the White House’s already tense
relationship with the incoming Republican majority in Congress. Our
story examines Mr. Obama’s plan and considers the political implications
of pursuing it. We note that his proposal is expected to offer work
permits and safe harbor from deportation for several million illegal
immigrants with deep ties to the U.S. It is also likely to make more
visas available for high-tech workers and redirect immigration
enforcement from the interior of the U.S. to the border. The timing of
an announcement, however, isn’t settled, and the Republicans will have
to decide how much to resist. House Speaker John Boehner
said yesterday: “We’re going to fight the president tooth and nail if
he continues down this path. This is the wrong way to govern.”
Art for Money’s Sake
The art market just had the two
biggest weeks in its history. Collectors in New York have bought more
than $2 billion of art since Nov. 4—a historic high in which 23 works
fetched more than $20 million apiece. Our story examines why art prices
have been trending up, puts the last two weeks of sales into context and
offers an overview of top lots at recent auctions.
We note that Americans now buy more art than anyone else, and China
continues to emerge as the next great purchasing power. Fine art has
also become attainable for the modern-day millionaire—an asset or
currency considered in investment-grade terms. But that doesn't mean
potential buyers don’t splurge on trophy works. “I feel like I’m
surrounded by gladiators in this shiny big arena,” said Len Riggio,
chairman of Barnes & Noble, who said that he intended to bid on a
few items in a Christie’s sale this week, but rivals outpaced him.
(Pictured above: Andy Warhol’s ‘Triple Elvis’ silk-screen, left, sold
for $82 million to a phone bidder on Wednesday. Soon afterward, his
‘Four Marlons’ sold for $69.6 million.) Reuters
An Unpleasant Surprise
Here’s
a very special challenge for the wealthy: Suppose you want to surprise
your spouse with a house. Buyers who secretly purchase property for that
special someone should be prepared for tears of joy—or despair. Our
story explores what happens when your
partner buys a house without telling you,
noting advice from veteran real-estate agents and offering examples of
people who got it wrong. “No way—that place is a wreck!” one woman told
her husband when he’d signed a contract to buy a home for her birthday.
“I thought, ‘Holy cannoli, what has he done?’” It’s best to let a wife
in on the secret before the deal is final, suggests one agent. “It’s a
win-win: She’ll be surprised, but you have the ability for her to say
‘It’s not really where I want to be—let’s look for something together.’”
Another real-estate agent summed it up: “To make a $1 million mistake
is rough...A necklace is a lot easier.