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Tagged: Apple

Openings

Apple's Latest All-Glass Creation Hits the UWS

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The gigantic new Apple store on the Upper West Side will open its doors to the public at 10am tomorrow morning, so if you happen to be in the area and you see a line of people stretching down Broadway, you'll know what they're all there for (as well as how far some people will go for a free Apple t-shirt).

The UWS Gets Its Very Own Apple Store [Gothamist]
An Insider's Guide To An Apple Store Opening [Racked] 

Retail

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Apple Will Not Be Defied by Overeager Upper West Siders | Apple has set a date for the opening of its new outlet on the Upper West Side. The doors of the massive, three-floor store will open to the public a week from tomorrow at 10am sharp. "Until then, forget about sneaking a peek behind the capacious crimson curtain hiding its innards. The Mac-istas have the front door here seriously secured." [Racked]

Media Roundup

The Cronkite Memorial, Another Times Kidnapping

• A long list of media luminaries and politicians, including President Obama and former president Clinton, turned out for this afternoon for a memorial service at Avery Fisher Hall in honor of Walter Cronkite. [WP, NYT, LAT]
• Stephen Farrell, a New York Times reporter taken hostage by militants in Afghanistan, was freed early this morning following a raid by British commandos; his Afghan interpreter, however, was killed. [NYT, E&P]
• The McKinsey consultants who have been reviewing operations at Condé Nast are finishing up their work and will be submitting their findings shortly. So what changes are in store for the magazine conglomerate? No one knows for sure, but further budget cuts and a closure or two are entirely likely. [NYO]
• McGraw-Hill, the parent company of BusinessWeek, reports that 93 different buyers have expressed an interest in acquiring the struggling magazine. [BN] More

Media Roundup

A Jackson Reality TV Show, Elle Combats Homelessness

• Just when you think members of the Jackson family can't possibly stoop any lower comes confirmation they've agreed to do a reality TV show for A&E. It's going to be "genuine," says the show's producer. Clearly. [THR]
• Because the public has been clamoring for 24/7 access to fake wrestling matches, the WWF is now hoping to start up its own cable network. [NYP]
• More on what went down when Vogue editor Anna Wintour sat down to chat with David Letterman on his show last night. [WWD]
• Sony unveiled its electronic reading gizmo/Kindle competitor today. [NYT]
• The Observer's Jason Horowitz is leaving for the Washington Post. [NYO]
• A homeless woman has scored a four-month internship at Elle. Just wait until Elle "employee" Olivia Palermo gets her hands on her on the next season of The City. Homelessness, we presume, will never have looked so good. [Gawker]More

Stats

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Apple: No. 1 on Fifth | The highest grossing retailer on Fifth Avenue? The Apple store on 59th Street, the only one of the company's locations that is open 24/7, which generates sales of more than $350 million a year, according to real estate experts. [Bloomberg]

Media Roundup

Funny People Disappoints, Dobbs Controversy Continues

Funny People debuted at No. 1 at the box office this weekend, although it was still the worst opening for an Adam Sandler movie in five years. [Reuters]
Mort Zuckerman is selling shares of his real estate company to pump $50 million into the Daily News to pay for new printing presses. [WSJ]
Lou Dobbs has become a PR nightmare for CNN. Presumably the fact that Media Matters is airing an anti-Dobbs commercial won't help matters. [AP, HP]
• Is the peace pact between Olbermann and O'Reilly a sham? [TDB]
• Google CEO Eric Schmidt has resigned from Apple's board of directors. [BN]More

Media Roundup

Min's Departure, McKinsey's Arrival, Rather's CBS Suit

• Why did Janice Min leave Us? It was about money, reports WWD, which explains that given the economy, Jann Wenner wasn't prepared to offer her the $2 million a year she's been collecting. Min is denying it. [WWD, NYDN]
Dan Rather’s $70 million lawsuit against CBS is back on track. [NYT, WSJ]
• McKinsey has been retained by Condé Nast to do the sort of "rethinking" and "realigning" that the consulting firm gets paid enormous sums to do. And while it isn't the first time McKinsey has been in the building—they were hired by Condé in 2001—this time employees are totally freaking out. [NYO
• One title that is doing well: Food Network Magazine, apparently. [CNY]
• ESPN's Erin Andrews was secretly videotaped in the nude while staying at a hotel. Now an ESPN employee is said to have been behind it. [NYDN, AP]More

Media Roundup

Network News Declines, TLC's Big Night, MySpace Cuts

• The bleak outlook for network news is getting bleaker: Both the CBS Evening News and ABC's World News suffered all-time ratings lows last week. [HuffPo]
• CBS chief Les Moonves's compensation was slashed by 76 percent last year. He still earned $13.6 million, though, so don't feel too bad for him. [Crain's]
• Depressing: Monday's breakup episode of TLC's Jon & Kate Plus 8 was the most-watched episode of the show ever with 10.6 million viewers. [THR]
• MySpace is closing four of its international offices and cutting two-thirds of its staff abroad advertising falls and Facebook and Twitter take over. [NYT]
• A woman in Massachusetts has filed a lawsuit against Elisabeth Hasselbeck for allegedly ripping off her self-published book on celiac disease. [BH]
• Bravo honcho Andy Cohen is going to be hosting a live show once a week called Watch What Happens. You can watch what happens on July 16. [LAT]More

Real Estate

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The Apple Building? | Darcy Stacom, the commercial real estate broker who convinced Mort Zuckerman's Boston Properties to pay $3.5 billion to buy the GM building in 2008, has suggested that Apple cough up a few bucks and pay Zuckerman for the right to rename the tower, so it doesn't sport the name of a bankrupt automaker. Let's hope Steve Jobs sets aside his health issues and moves quickly on this opportunity to plant a glowing white apple at the top of the skyscraper. Considering Zuckerman has already turned the "Citigroup Center" into "601 Lexington Avenue," the GM building may turn into the much blander-sounding "767 Fifth Avenue" if he doesn't. [Reuters]

Retail

Apple Abandons 34th Street Location

130956Hope you weren't too excited about those rumors of an Apple store opening on West 34th Street. It's no longer in the works. Despite the fact that Apple has been paying $5.9 million in rent for the space since 2006, Apple chief Steve Jobs has apparently decided that the location across from the Empire State building is a little too low-class: "One source said he looked at a run-down building across the street and said, 'This is not for Apple.'" [NYP]

Finance

Street Talk

  • A battered Lehman Brothers plans to spin off the majority of its real estate investments into a new company and sell more than half its interest in its investment management division. The bank also predicted a third-quarter loss of $3.9 billion. [WSJ, Dealbook]
  • In a morning conference call to announce the changes, Lehman CEO Dick Fuld sounded "both wearied and defiant." [Dealbook]
  • HSBC's chief executive says it has no plans to acquire a stake in a U.S.-based investment bank, quashing rumors it would come to Lehman's aid. [Bloomberg]
  • The Bill Gross-managed Pimco Total Return fund earned $1.7 billion from the US government takeover of Fannie Mae and Freddie Mac. [FT]
  • George Pataki has joined the board of private-equity firm MidOcean Partners. [NYP]
  • Bear Stearns will pay $28 million to settle an FTC suit. [Reuters]
More

Marketing

Seinfeld's New Gig

128151You know Microsoft is hopelessly out of touch when the opening paragraph of the Wall Street Journal article that's supposed to be touting the tech giant's marketing coup starts off something like this: "Microsoft Corp., weary of being cast as a stodgy oldster by Apple Inc.'s advertising, is turning for help to Jerry Seinfeld." Huh? Microsoft is hoping to appeal to the Gen Y demo—people in their 20s—by hiring a spokesman who is 54? Better yet: Seinfeld will be appearing in the commercials alongside Bill Gates himself, who doesn't exactly conjure up an image of cool with iPod-listening, Macbook-carrying hipsters on the L train. The $300 million campaign, which will debut on Sept. 4th, will be promoting Microsoft's Vista operating system, which, company officials acknowledge, has generated a "negative public perception." (That's probably because it sucks.) Why did Seinfeld decide to participate? We're guessing it may have had something to do with the $10 million paycheck.More

Finance

Street Talk

  • An Abu Dhabi investment fund says it has agreed to an $8 billion commercial-finance partnership with General Electric. [WSJ]
  • Wachovia posted a quarterly loss of $8.66 billion, after write-downs during the second quarter totaled more than $6 billion. [WSJ]
  • The department store Mervyn's may file for Chapter 11 bankruptcy protection by early next week, unless Steve Feinberg's Cerberus figures a way out. [NYP]
  • Apple issued a worse-than-expected fourth quarter forecast amid concerns about the health of CEO Steve Jobs. [NYP]
  • Wall Street banks may cut bonuses by about 20 percent this year. Or so says Gov. David Paterson, who estimated that each 10 percent reduction in bonus pay costs the state $350 million in tax revenues. [NYT]