#426 August 17th, 2015 – Google Adopts New Perspective

This week’s headline story: Google Adopts New Perspective

alphabetGoogle has announced a corporate restructuring that will make it a wholly owned subsidiary of a new umbrella company named “Alphabet.” The new organization will have a hub-and-spoke architecture, with a trimmed-down Google handling the company’s core businesses — its main Internet products alongside a collection of companies including Google’s Life Sciences and Calico health projects, its experimental X Lab, its Wings drone delivery venture, its Nest smart home appliances, Google Glass, Google Ventures and Google Capital.

Product Chief Sundar Pichai will take over as CEO of Google, while Google cofounders Larry Page and Sergei Brin will be CEO and president, respectively, of Alphabet. Alphabet will be the publicly traded entity, but Google’s two classes of shares will continue to trade on Nasdaq. All shares of Google automatically will convert one-on-one to shares of Alphabet. Investors were happy with the plan. Google’s shares rose from $633 to $704 in early trading Tuesday upon news of the restructuring,and settled at $660 by the end of the day.

 

Other Headline News…

  • Why IBM Just Bought Billions of Medical Images for Watson to Look At [MIT Technology Review]IBM’s smart supercomputer, Watson, is going to med school… sort of. IBM announced that it is buying Merge Healthcare for a billion dollars. Merge will provide IBM and Watson with 30 billion medical images that Watson will use to learn about, and perform image-based diagnostics.

in Information Security News…

  • Nine Accused of Making $30M Using Hacked Press Releases [NewsFactor]Nine people in the U.S. and Ukraine have been charged with making $30 million by hacking into business newswire services, reading corporate press releases before they came out, and then trading on that information ahead of the pack on Wall Street. The group consisted of two people described as Ukrainian computer hackers, six mostly U.S. stock traders and one U.S. real estate developer. The nine were charged with offenses including securities fraud, computer fraud and conspiracy to commit money laundering. Related civil charges were brought against 23 other individuals and companies. Federal authorities said it was the largest scheme of its kind ever prosecuted.
  • Google’s Stagefright Patch Fails, 950M Android Devices Still at Risk [NewsFactor]Google released a patch for Android to fix the dreaded Stagefright vulnerability. The only problem is that the patch doesn’t work, according to IT security firm Exodus Intelligence. 950M Android devices remain at risk.

and in Tech Industry news…

  • Apple, Intel Improve in Workplace Diversity [NewsFactor]Apple, Intel and other big tech companies have been working to improve workplace diversity, and their efforts seem to be paying off. The numbers of women, African-Americans and Hispanic employees working at Apple over the past year have all increased by double digits. Intel has also increased its hiring of underrepresented groups, according to its mid-year diversity report. Both companies admit that there is a lot more work to be done.

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