You may have heard that RadioShack is going belly up. It filed for bankruptcy earlier this year after agreeing to sell over 2,000 stores to Standard General, a hedge fund.
However, the stores and merchandise aren't the only things going up for sale. Your name, address, email, and personal shopping habits are also going on the auction block. Technically, the personal information of over 100 million customers has already been bought by Standard General during the bankruptcy auction, but the bankruptcy court must first approve the sale.
Unhappy about the sale?
Don't worry. You're not alone. Texas is opposing the sale. According to Texas state law, it is illegal for companies to sell customers' information if it violates the companies' privacy policies.
So far, Arkansas, Colorado, Connecticut, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Montana, Nebraska, Nevada, Oregon, Rhode Island, South Carolina, Tennessee, Washington, and Wisconsin, have joined Texas in its opposition to the sale.
Notwithstanding its own policy of selling customer information, AT&T is also protesting RadioShack's data sale. AT&T claims that it shares ownership of some of RadioShack's customer data because it worked with the failing chain to market phones.
AT&T is not doing this out of any concern for customer privacy. It just doesn't want the information to fall into competitors' hands. Sprint, a competitor, may partner with Standard General in the future and could possibly benefit if Standard General's purchase of the data is successful.
Will The Sale Be Approved?
We will just have to wait to see if the bankruptcy court approves the sale or not.
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