1 karma · joined December 16, 2025
But they all have to deal with it and doesn't absolve a company not fixing it.
It's definitely not the IT team's fault. The solution is a titanic project. Management just have no interest when they can sign up to buy 100 jumbo jets that day instead.
The data suggests Alaska Airlines has a systemic security issue that has been unpatched for 4 years, but members are being blamed to this day for their implied password hygiene.
Key finding: Alaska's theft rate is 23x higher than peer airlines. The technical patterns (PIN bypass, same-day repeat compromise after password change, password manager users affected, surge after reported hack in June 2025) are inconsistent with credential stuffing.
This connects to a session management bug reported here in December 2024 [1] that exposed random passenger data. That bug appears unfixed despite being reported through official channels.
What I'm trying to understand:
How could this not have been fixed in all this time? How are these accounts likely being accessed and drained?
Disclosure: not a trader at all, but my research led me to short the stock, so bare this in mind when reviewing my work.
Oh yes - well it is ofc too early to draw any conclusions yet, but my original point was... no point having a rate vastly lower than other industrialised nations - just leaves money on the table. Can never compete with zero in Dubai with low rates. Governments will have to address that in another way.
However I would say as someone who paid a chunk of tax upon selling a business, and I am way outside any actual knowledge here, CGT must be a real laggard. You generally can't just switch the domicile and the local tax man just shrugs their shoulders.
However, I am sure you will rejoice with me in the November update forecasting a 50% rise next year in CGT receipts to $20 billion for 25-26. England is not quite finished!
https://obr.uk/efo/economic-and-fiscal-outlook-november-2025....
On CGT comps - all those are not straight forward. You can have Switz, NZ, and Bel. You can't have Lux (22% if hold >10%) or Netherlands (the system is mental... - they get their 30% though)
I think the bulging argument against the 19% two year decline is the first of those years you cite was before the labour govt, and before any changes?
1. The non-dom tax was the stupidest tax I've ever heard of. Somehow the owner of the Daily Mail, Lord Rothermere, all sorts seemed to be able to claim non-dominant status, and they were going home shortly to whoever that was. Meanwhile, anyone who moved to the UK from abroad would no doubt have found out on arrival at a low rate that they didn't have to pay tax on their overseas money. They would have shrugged their shoulders, broken into a smile, and moved on.
However far and away the worst part of it was: that person was not subject to UK tax for all of their non-UK investments. Now, only a complete moron would make any UK investments. So their entire contribution was their Mayfair lunch bills and the maids they hired. That had to go, and they (nothing wrong with them individually of course) are no loss.
CGT - it was tomfoolery having it at 10%. Lowest by far amongst industrialised countries (well before the rich stopped having to pay tax at all in US). May as someone lucky enough to start a business and take it to sale, we spoke once about tax on day 1, and then again a year before the end. The idea of embarking on an incredibly ambitious idea, and then handicapping yourself to save 8% on CGT were the millions to come... is what no founders have ever done. Squealing from the hundred millionaires about being $10 million lighter in theory for capital gains. It's a narrow cane was embarrassing. I remember one point out they'd worked on weekends to make this money...
Finally, may I say your examples for international competition are not very fulsome and not very fair. Dubai is a complete red herring of course. Good luck getting that Portuguese visa now. Ireland, you've just picked the one element of their tax code that is lower.
Oh one more. CGT tax rises didn't come in until oct 24, after your 14% decline. Reason they went down is the same reason they always go down - asset prices were down.