Morning news: Block, drop, gobble, charge, crunch

  • Congress seeks to stop companies like AOL from logging customer data. (The last government interaction with this data was when the FBI ordered a big pile of it from AOL.) [CNET]
  • Online media monitor CJR.org loses two top editors after budget cuts, hastening the impending doom of New Media at the hands of an inexorably advancing Old Media. [NY Times]
  • IBM buys software company FileNet for $1.6 billion, and papers everywhere remark on the "recent trend" of big companies gobbling up small companies — which is like remarking on the recent trend of panthers gobbling up gazelle. [NY Times]
  • Feds throw a new barrage of charges at former Brocade execs Gregory Reyes and Stephanie Jensen for their alleged securities fraud. There's more to come as the Valley undergoes Securities Backdating Scandal 2006 — well, that's what we'll call it til we think of a clever sports-inspired name for it. [Wall Street Journal]
  • Online sex predators are slacking. Let's step up the pace, boys. [CNN]
  • Rising Valley blog TechCrunch expands its brand with a new site, CrunchGear. In his intro, editor John Biggs reveals how CrunchGear stands out from the crowd of gadget blogs: "If you work at a tech company, please add us to your PR list ASAP." [CrunchGear]