Filed under: Products and services, Consumer experience, Competitive strategy, Apple Inc (AAPL), Marketing and advertising

The long-running Apple Inc. (NASDAQ: AAPL) fan site Think Secret is being shut down after nearly three years of litigation and a confidential settlement. Nicholas Ciarelli, a 22- year-old Harvard student has been running the site since he was thirteen years old.

Think Secret’s claim to fame was publishing top-secret information about upcoming Apple products before it was supposed to be made public. Apple unveils new products each January at its Macworld conference, and the race is always on in December to scoop Steve Jobs on his company’s offerings.

And Think Secret apparently did an excellent job of tipping everyone off on Apple’s secret plans. Apple filed suit to try to get the names of Ciarelli’s sources.

At one point it seemed as if Ciarelli had the upper hand in the litigation. Apple filed suit on the basis that ThinkSecret was publishing trade secrets about Apple’s strategic plans. Ciarelli’s attorney, Terry Gross, filed a motion to dismiss the suit, citing First Amendment rights. Apple essentially stopped litigating at that point.But on Thursday, Think Secret published the following brief press release: Apple and Think Secret have settled their lawsuit, reaching an agreement that results in a positive solution for both sides. As part of the confidential settlement, no sources were revealed and Think Secret will no longer be published. Nick Ciarelli, Think Secret’s publisher, stated “I’m pleased to have reached this amicable settlement, and will now be able to move forward with my college studies and broader journalistic pursuits.”

So the saga ends with the site being shut down. Ciarelli says it was time anyway, as he would rather pursue other interests. But it’s really not clear who won this case. Ciarelli states he’s “very satisfied” with the settlement, but no one knows for sure if he received any money from Apple.

Forensic accountant Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations through her company, Sequence Inc. Forensic Bookkeeping.

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Filed under: Marketing and advertising, Business of sports, Entrepreneurs

When the 2006 season began, football player Michael Vick had it all. The #1 pick in the National Football League’s 2001 draft, he’d become an all-pro as quarterback for the Atlanta Falcons. Vick’s endorsement income from contracts from Nike, EA Sports, Coca-Cola and other top corporations had earned him 33rd place on Forbes’ list of Top 100 Celebrities in 2005.

During the 2006 season, however, Vick’s image began to change for the worse. A well-publicized finger gesture to the Falcons’ fans during the season was a harbinger of the devastation to follow.

In April of 2007, all hell broke loose when Vick was accused of operating a six-state dog fighting ring based from his notorious Bad Newz Kennels. Further details, including the accusation that Vick personally executed one of his dogs, disgusted the American public and sent his endorsement deals down the drain.

After admitting his guilt in a plea deal, Vick was recently sentenced to 23 months in a federal kennel. Although prosecutors recommended a shorter sentence, the judge overrode their request due to Vick’s lack of promised cooperation. As a result of his conviction, his financial empire has also collapsed, and his future earning potential looks as bleak as O.J.’s. Vick agreed to return nearly $20 million of his signing bonus, and banks are after him to return more than $4 million in business loans.

Animal lovers can take some solace that, even from the grave, the dogs Vick tormented managed to bite him back.

Be sure to check out other Money Losers of 2007.

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