Alleged fraudster hacks earnings off Plus SMS (NZ)

Battling text messaging organization Plus SMS Holdings has downgraded its consolidated earnings by 44 per cent blaming costs associated with alleged criminal actions of an executive. Plus SMS, which last year said it had made "unrealistic statements" to the market, announced this morning it had terminated the employment contract of senior manager Nicolas Barrera Rios, for gross misconduct and alleged criminal fraud. "PLS has completed its internal investigation of the matter and has initiated legal action to recover potential damages for lost earnings," the company said in a statement.

Via National Business Review

LBS To Be Worth 1.5 Billion in 2007

The worldwide market for location-based telecommunication services is expected to reach nearly $1.5 billion in 2007 as an ever increasing number of cellular and other wireless carriers provide customized services based upon a location-awareness of their end-users.

Insight ResearchInsight Research's market analysis study, entitled "Location Based Services Market 2007-2011," notes that location-based services are part of a worldwide push by carriers to create new IP-enabled services for consumers and business users.

Via: Lbszone

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