Silicon Valley and Obama: In an op-ed for the San Jose Mercury News on Tuesday, Rep. Michael M. Honda (D-Calif.) laid out his arguments for why he believes President Obama is the best candidate for the country’s cradle of innovation.
Honda said Obama’s positions on alternative energy solutions and investment in science, technology, engineering and math education will make him the “right man in office” for the technology industry.
Both parties have been courting technology entrepreneurs this election. Republican candidate Mitt Romney has said that his administration would be better for entrepreneurs and has gained a “toehold” in fundraising from Silicon Valley executives, Reuters reported in June.
Hurricane Sandy and cell towers: Hurricane Sandy knocked out about 25 percent of cell towers in the areas hit hardest by the storm.
The Hill reported that the Federal Communications Commission expects communications outages to “get worse before they get better” and that carriers are working to fix problems, though power outages, flooding and snowfall is standing in their way. Some 911 centers also went down as a result of the storm, but it was a “very small number.”
Disney buys Lucasfilm: The Disney Co. bought “Star Wars” maker Lucasfilm in a $4 billion deal Tuesday, a transaction that includes the lucrative special effects and sound divisions of the smaller company. Disney already owns ABC, Pixar, ESPN and Marvel.
As part of the deal, Lucasfilm founder George Lucas will get 2.2 percent of Disney shares. Producer Kathleen Kennedy will be the division’s president and will report to Disney Studios Chairman Alan Horn. A seventh “Star Wars”picture is planned for 2015.
Huawei: Huawei’s global cybersecurity chief, John Suffolk, told Reuters that the company is embracing its critics and has reached out to one of the most vocal to evaluate its equipment.
Felix Lindner, a German security researcher, had previously said that Huawei equipment had too many vulnerabilities.
The company has been under close scrutiny because of fears that it may be building back doors into its equipment — accusations the company has strenuously denied. In a recent report, the House intelligence committee released a 52-page report urging U.S. businesses to be wary of Huawei and another China-based firm, ZTE, due to possible security threats.
Facebook, Apple stock: Apple and Facebook are both taking a hit in the market Wednesday as trading resumes after the impact of Hurricane Sandy.
Apple’s stock is down about $11 or nearly 2 percent after an executive shake-up at the company that will see mobile operating system head Scott Forstall leave Apple next year.
Facebook’s shares are down about 3 percent, or 71 cents per share, after the expiration of a stock “lock-up” that made more of the company’s shares available for trading on the open market.