Your e-mail account is a goldmine. Technology companies push hard to keep your data secure, but there are plenty of scumbags out there who always seem to find a new way to gain an edge over the guys in white hats. Phishers, in particular, are eager to find new ways to profit from your identity and information, and they're getting some new tricks.

Phishing scam activity was quiet at the beginning of this year, according to a report in USA Today, but these attacks surged 200% from May through September, says the X-Force team at IBM (NYSE: IBM). Webmail, social media and gaming accounts are their primary targets. E-mail access, in particular, is highly sought after, since they can be use to push out spam ... while bypassing filters.

These "virgin" e-mail accounts command top dollar: a digital criminal can pick up as much as $2 for a clean account from Microsoft (NASDAQ: MSFT) Windows Live, Google (NASDAQ: GOOG) Gmail, Yahoo (NASDAQ: YHOO) YahooMail or AOL (NYSE: TWX). This is more than twice the amount typically paid for a stolen credit card account, according to Fred Rica, principal in the security practice at PricewaterhouseCoopers. Many webmail users actually do half the criminals' job for them, with 33% using just one password online and 48% using only a handful.

Google Inc. (NASDAQ: GOOG) is a true Goliath in the online world, exerting its dominance in search, Web-based e-mail, maps, software, and more. Despite this fact -- or perhaps because of it -- it seems that tech companies can't wait to do battle with Google. IBM (NYSE: IBM) is the latest rival to throw down the gauntlet, with the company launching its own internet-based e-mail service for businesses.

The new service, known as LotusLive iNotes, is geared toward employees who might not be able to access their company e-mail remotely. The no-frills program features basic applications such as messaging, calendar, and contact management. LotusLive iNotes is being offered at prices as low as $3 per user per month. (Google's Google Apps service, with e-mail and Web-based applications including word processing, is priced at $50 per user annually.)

News that Google Inc. (NASDAQ: GOOG) is adding more e-mail security and storage products for businesses helped send the stock of Commtouch Software Ltd. (NASDAQ: CTCH), an Israeli email security firm, higher by 7%. The tools to be introduced Tuesday build upon technology that Google acquired last year when it bought e-mail specialist Postini Inc. for $625 million. The package of products are designed to weed out junk mail and potential viruses as well as protect against leaks of confidential information sent through e-mail. Google also is offering to retain e-mail data for longer periods.

This move into email security is seen by some as a salvo against rival Microsoft Corporation (NASDAQ: MSFT). Why does this impact Commtouch? Because the firm has some of the most cutting edge email security out there, and could be an acquisition target by Microsoft, or even by Google to help enhance their offerings. For Microsoft this purchase would come with a price tag of less than $45 billion, as Commtouch trades with a market cap of just $120 million.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has a position and is long CTCH stock. He has no positions in any other stock mentioned as of 2/5/08.

According to a report by Basex Inc. the pressure put on us by technology to respond immediately to emails, text messages, and IMs cost the US economy around $650 billion in 2006. They say that the human brain is not hardwired for paying attention to several things at once or for handling constant interruptions, and due to this there is lost productivity. Sounds nutty to me. Email, text-messaging, and IM'ing save tremendous amounts of time and travel. For a businessman these tools save tremendous amounts of money. Having questions answered in a split second brings much more efficiency to a business, and to the world.

Is it better if I go grocery shopping and I get an SMS message to pick up another gallon of milk, or would these researchers say I should go home and then have my wife tell me to go out again and pick up the milk? That doesn't sound too efficient, does it? I was literally on a conference call, that just ended, which took much longer than expected. Lucky for me, I was on mute the whole time, and via email, I was able to take care of about 45 minutes worth of work, all while on the call. That doesn't sound to me like a cost to society.

The whole point of technology is to free us up to be more efficient, to have more time to do other things. How can this possibly cost society $650 billion.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. Disclosure: Writer has no position in any stock mentioned as of 12/27/07

The Israeli company Commtouch (NASDAQ: CTCH), a leading provider of email defense systems, announced today that all proposals presented to shareholders on its proxy statement for the annual meeting of shareholders held on December 14, 2007 were overwhelmingly approved, including the reverse stock split (by over 92% of the voting shares).

I guess the question is whether this is good, bad, or insignificant news? While in some cases reverse splits signal that a company is at the end of the line, in Commtouch's case that is not the case. The company continues to execute its business model well, and as more and more defense is needed to stop spammers, Commtouch should continue to grow. The company made this move in order to reduce the number of shares, as well as get the share price up over $5, where it would be open to more institutional interest.

It seems that this is a positive move and the fact that over 90% of the votes were in favor is a good sign. But what's really important is that it continues to sign deals and execute. If it does that, the stock will take care of itself.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. Disclosure: Writer owns stock and is long CTCH. He has no position in any stock mentioned as of 12/13707.

Commtouch (NASDAQ: CTCH), a leading provider of email defense systems, announced today that Check Point Software (NASDAQ: CHKP) has entered into a licensing agreement with the email firm. Commtouch's defense works on a three-pronged approach. Reputation service for blocking unwanted mail traffic at the perimeter, significantly reducing the necessary IT resources for handling email; Zero-Hour(TM) Virus Outbreak Protection to complement traditional anti-virus solutions; and Anti-spam, which works against all formats and languages including Asian languages, image spam and attachment spam.

Speaking to the importance of this deal, CEO Gideon Mantel said, "Check Point's choice of Commtouch as the best solution for its customers after a period of rigorous testing further validates our technology and is an important milestone for Commtouch. Commtouch is the only technology provider of three layers of email defense that, together, ensure continued effectiveness in the face of constantly changing threats. We believe this important and strategic agreement will positively impact our business."

Commtouch's business has been growing rapidly. The company had set a goal for 30 new deals for all of 2007, and it had almost achieved that goal by the end of October. Clearly there is a need for email spam protection; for investors looking at a small company making headway in this field, the stock may be a very attractive long-term play.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. Disclosure: Writer owns stock and is long both CTCH and CHKP , as of 12/10/07.

Google Inc. (NASDAQ: GOOG), Yahoo! Inc. (NASDAQ: YHOO) and many tech companies regularly promise to give reporters a sneak peak at their newest products features provided that they keep their mouths shut for a designated period of time. It's called an "embargo" and it's gotten way out of hand.

Embargos often are found on a slow Monday morning. The Yahoo announcement today that it will allow users of its email service send free text messages to mobile phones is a case in point. Reporters from AP, Reuters , and USA Today each appear to have gobbled up the press release that Yahoo's flacks spoon fed them Sunday without a glimmer of skepticism. None mentioned the deal they struck to get access to the news.

Sunday is the favorite day for embargos. Odds are that reporters will do what the companies want since their sources who might point out that this announcement isn't a big deal aren't in the office. Companies also pre-brief friendly analysts that will help them spread their message. The same idea works in mergers and acquisitions. This is how "Merger Mondays" got started. No one can manipulate the market when it's closed on Sunday. Big medical journals release research using embargos as well as well.

I don't mean to pick on Yahoo!'s announcement today. For all I know, this could be the biggest thing since sliced bread, but I doubt it. In today's media age, embargoes are becoming increasingly stupid. I can't tell you how many times I honored embargoes only to see a post on a blog about a "a big announcement coming", promising more details to come once the news was "officially" released.

Reporters -- me included -- honor these embargoes because they are worried that companies won't leak them the big news if they don't write about little things. The flacks and the journalists scratch each other's backs and the reader winds up the loser.

If your email inbox is overflowing, you don't have to spend the next three hours responding, you can tell everyone you know that you're filing for email bankruptcy. According to today's Washington Post, that means either you'll just ask people to resend their emails if they expect a response (weak form) or you'll sign off from email altogether (strong form).

I first got exposed to email at MIT back in 1980 when it was used on a few university and military computers. I could not see declaring email bankruptcy, although I don't get that much email. However, I do have other email problems: too much spam and an unreliable Yahoo! email account.

But some people have so much email that they declare weak form email bankruptcy. For example, In April, venture capitalist Fred Wilson announced he was giving up on responding to all the email piled up in his inbox. "I am so far behind on email that I am declaring bankruptcy," he wrote. "If you've sent me an email (and you aren't my wife, partner, or colleague), you might want to send it again. I am starting over."

This morning Microsoft Corp. (NASDAQ: MSFT) announced that it's buying aQuantive Inc. (NASDAQ: AQNT) for $6 billion, an 85% premium to its market price. Why is this deal happening? To compete with Google Inc. (NASDAQ: GOOG).

Last year my firm conducted a client-sponsored study of the email marketing industry. The top performing company in that research was AQNT. After interviewing the senior executives there, it became clear that email marketing offers a compelling benefit for a corporate advertiser -- the ability to measure return on advertising.

The reason Microsoft wants this ability is to help it compete with GOOG for online advertising dollars. That's because AQNT's technology enables companies to track what happens to their spam. Specifically, AQNT's Avenue A service targets emails depending on observed online behavior.

In a move that is down-right American, Sears stores (NYSE: SHLD) are going the extra mile for our men and women in the armed forces. It was reported to me that not only is Sears gladly meeting the legal requirements to hold open and available the jobs temporarily vacated by individuals who are called into active military service but they are proud to go above and beyond the call of duty. Sears is voluntarily paying the difference in salary and maintaining all benefits including medical insurance and bonus programs for a period of up to two years for their reservist employees who are called into service. I myself will happily drive ten miles beyond a Wal-Mart store (NYSE: WMT) and joyfully risk paying slightly higher prices to deal with a company that treats my soldiers like that.