When Borders liquidated their assets, they sold off the merchandise, the chairs, bookshelves, and even its list of email subscribers to the highest bidder.
Former Borders subscribers were informed of that fact in an email from the CEO of competitor Barnes and Noble.
we will only disclose your email address or other personal information to third parties if you expressly consent to such disclosure....and not rent or sell your information to third parties.”
But Borders amended the language of its policy in 2007 to include -
Circumstances may arise where for strategic or other business reasons, Borders decides to sell, buy, merge or otherwise reorganize its own or other businesses… In the event that Borders or all of its assets are acquired in such a transaction, customer information would be one of the transferred assets.
Do you think this is acceptable practice? Subscribers are, at least, being given the opportunity (2 weeks) to opt out and be removed from the B&N list.
The Federal Trade Commission argued that this provision only applied to situations in which Borders was acquired by another entity and continued operating as a retailer – not a liquidation of assets, as was the case.
Customers who miss out on the notification would by default have their information – including their name, address and DVD purchase history – transferred over to the Barnes & Noble database.
Read more at http://www.mainstreet.com/arti.....rders-data