Nordstrom, Inc. (NYSE:JWN) is acquiring HauteLook for $270 million. The deal is broken up into $180 million in Nordstrom stock and a three-year earn out worth up to $90 million. HauteLook had raised $41 million in funding and has about 4 million members since they launched in 2007. High-end retailers like Versace and Gucci places excess inventory at a discount of 50-70% on HauteLook. These sales are private and is only available to members. [TechCrunch]

The Motorola Mobility chairman and CEO Sanjay Jha is defending the $799 price tag of the Motorola Xoom tablet. The Xoom tablet runs on Android 3.0 Honeycomb operating system. The $799 32GB tablet runs on 3G and the WiFi version costs $599. Jha is defending the price because the device is compatible with Verizon’s 4G network. “We felt that our ability to deliver 50Mb/s would justify the $799 price point. It is 32GB with 3G and a free upgrade to 4G. Being competitive with iPad is important. We feel that from the hardware and capabilities we deliver we are at least competitive and in a number of ways better [than the iPad],” said Jha in an interview with The Wall Street Journal.

Movie kiosk company Redbox will soon be entering Netflix’s territory by selling video streaming subscriptions. Redbox president Mitch Lowe said that there will be a single monthly fee that would allow people to watch the movies on multiple devices. Netflix has about 20 million customers for its DVD-mail and Internet streaming subscriptions. [LA Times]

Apple Inc. (NASDAQ:AAPL) is building a store in the Grand Central Terminal in New York. The store is most likely going to open in the Fall. It will be one of Apple’s largest retail stores. The rumor about the Grand Central location has been around since last week as appearing in The New York Observer. The Grand Central Terminal sees about 700,000 visitors per day. [CultOfMac]

President Barack Obama is making a trip to Silicon Valley today and is meeting with some major tech CEOs. The names of the executives that he is meeting was revealed by the L.A. Times. The meeting will be about supporting entrepreneurship, increasing exports, strengthening the economy, etc. Below is the list of people that he is meeting:

Microsoft Corporation (NASDAQ:MSFT) has redesigned their toolbar and is calling it the “Bing Bar.” The Bing Bar is like a social dashboard where you can read the news, read Facebook updates, check the weater, analyze stocks, etc. The information is gathered from drop-down windows. There isn’t a Mac version available for the Bing Bar yet. It only works with Internet Explorer as of right now. [SearchEngineLand]

Apple Inc. (NASDAQ:AAPL) has bought close to 60% of the total global touch panel capacity. This is making the supply tight for Apple competitors. Apple has an internal goal of shipping 40 million iPads in 2011. These figures are coming up Apple component suppliers. Now there is a shortage of touch panels. Some of Apple’s touch panel makers include Wintek and TPK. Now HP, Acer, and Samsung are working with smaller touch screen suppliers such as Sintek Photronic, Egalax-empia Technology (EETI), AimCore Technology and J Touch. [DigiTimes]

Soon when you search for keywords on Google.com, you will find results from Twitter, Flickr, LinkedIn, Blogger, etc. content in the results. Facebook is not going to be a part of the Google search results. Google introduced the social search features in October 2009 at the bottom of search results or if you click on the “Social” filter in the left-side column. In the screenshot above, you will notice that if you follow Matt Cutts that he has written about “Climbing Kilimanjaro.” This result will pop up if you search for those keywords and are connected to Cutts. You can make your social results private. [Google Blog]