1: http://hackaday.com/2013/01/31/turning-the-belkin-wemo-into-...
For example, there were many incidents in January [1] where houses with Nest thermostats malfunctioned in the middle of a serious cold snap. One reason was that the batteries went dead in some thermostats, but normally the battery shouldn't be needed in normal operation when it's wired properly. Guess what, it wasn't wired properly by the homeowner. There should be a built-in diagnosis for that.
Another reason was that Nest sent a firmware update to thermostats in early January--in the middle of a cold winter? Where was their risk assessment on that? Maybe there's little risk of frozen pipes in Palo Alto, but it's a major risk in the eastern and midwestern USA.
[1] http://techcrunch.com/2014/01/06/nest-4-0-firmware-battery-p...
But still, Belkin is a company that has sold technology products for a while now, and even they couldn't get it right.
The internet of things is miserable from a security standpoint. The bottom line is even with a security-minded approach, we will always be behind the newest attack vector, and to make matters worse no one really takes a security minded approach.
Slightly off-topic, but this is why we shouldn't hook things like the power grid up to the internet. and i personally don't want my fridge, thermostat, and lights to be hackable