Joe Kiani on Friday said he was finally able to take a breath after his device maker Masimo won a major victory in the U.S. International Trade Commission against Apple, the world’s most valuable publicly traded company, regarding intellectual property theft.
“Wow—it feels really good,” Kiani told our Peter J. Brennan. “That was the longest time holding our breath. They were supposed to issue the verdict several months ago, then weeks ago, then days ago. We don’t know the reason for the delay.”
The ITC on Thursday issued an order that could bar Apple from importing its Apple Watches, after finding the devices violate Masimo’s patent rights. The full commission upheld a judge’s ruling from January that Apple violated Masimo’s rights in light-based technology for reading blood-oxygen levels.
Shares of Masimo (Nasdaq: MASI) rose after the ITC ruling; it counted a $4.5 billion market cap as of Friday. Apple shares were unchanged; it sports a $2.6 trillion market cap.
The Biden administration will have 60 days to decide whether to veto the import ban.
Presidents have rarely vetoed bans in the past and Kiani has been a long-time supporter of President Joe Biden.
For more on the verdict, see the Nov. 6 print edition of the Business Journal.
David Wilson graduated from the University of Northern Iowa in 1970 with a degree in philosophy and a minor in business.
“Through courses in logic, ethics and philosophy, he would learn the critical thinking skills that helped make him successful in business,” UNI said last week.
That’s an understatement; Orange’s Wilson Automotive now counts 18 automotive dealerships and related companies, employing more than 2,500 people. Annual sales for the combined businesses totals more than $3 billion.
Wilson last week announced a $25 million donation for the university’s business college; it’s the largest donation in UNI’s history.
The David W. Wilson College of Business will also be the first named college at the university. His donation establishes the Wilson Endowment for Integrity and Excellence “to advance business ethics education and ensure graduates continue to thrive and lead in a rapidly changing business landscape.”
“I’m hoping this gift will ensure students will learn to do things the right way,” Wilson said.
Eagle Four Partners has doubled up its presence in Newport Center, with the new Pendry Newport Beach now open, a few blocks from the locally based investor’s Vea Newport Beach.
The firm’s added presence is helping some entrepreneurs double up their marketing efforts in the area.
Actor Mark Wahlberg made it to Vea during the day on Oct. 19 to promote the Flecha Azul Tequila that he backs, and later that night was seen slinging drinks at a Pendry bar, during a packed black-tie event celebrating the new hotel.
While Vea is a Marriott-branded hotel, members of the Marriott family are making their mark elsewhere along OC’s coast; see Emily Santiago-Molina’s hospitality column on page 12 for more.
