The Rich Cry for More Protection

Filed in archive Industry on October 18, 2006

NBC Universal chairman and CEO Bob Wright called upon American business and political leaders to fight piracy at a U.S. Chamber of Commerce conference.

Not surprisingly, he pulled out the terror card. "Five years ago we learned, tragically, that our physical security is under attack. Since then, we've been a nation at war, with immense resources mobilized to fight a difficult struggle against an elusive enemy. Today, I want to suggest that the second pillar, our economic security, is also being challenged."

If that wasn't hysterical enough, he added "At risk is every sector of the economy where creativity, innovation and invention drive the creation of economic value and high-wage jobs. If we do not step up our efforts to protect the foundation of future economic growth, our nation and our children have a bleak future. This issue needs to be moved up on the agenda of every business leader, every trade organization and every congressional office."

He cited a study that claimed the economic costs of motion picture piracy alone are $20.5 billion when soft costs like attorneys are included.