Apple’s Got The Beats (We Think), Netflix Looking to Net More Money and Geithner On Crisis Management

Music to the core…

Image curtesy of phanlop88/FreeDigitalPhotos.net

Image curtesy of phanlop88/FreeDigitalPhotos.net

In a deal not quite officially announced, Apple (AAPL) is plunking down $3.2 billion for Beats Electronics. Hip-hop mogul Dr. Dre, together with music mogul Jimmy Iovine began the company in 2008. The idea behind the (very)high-end headphones was to replicate the sound of the music you would hear as if you were in the studio while it was being recorded – a very thoughtful idea on oh so many industrious levels. If this deal does in fact go through, it is slated to be one Apple’s biggest acquisitions. Ever. A pair of Beats headphones will set you back anywhere from $170-$450. $10 a month gets you unlimited access to Beats music. Dr. Dre could barely contain his enthusiasm for the deal in a video shot by R&B artist Tyrese Gibson. “First billionaire in hip-hop, right here on the mother-f$%&*#$ west coast.” And while it certainly does put him in a whole new tax bracket, he’s still going have to do a bit better to crack that Forbes 400 list. Oh well. Maybe next year Dre.

Darn you Netflix…

Image courtesy of Idea go/FreeDigitalPhotos.net

Image courtesy of Idea go/FreeDigitalPhotos.net

You were warned this was going to happen. It always does. Netflix is raising their subscription fee to $8.99. That is if you haven’t signed up yet and were planning to. As of today the fee goes up one whole dollar but that dollar is crucial in providing you with all the content you need…and deserve…and want. But if you are already one the prescient 48 million users signed up for the service, you get to sit pretty for a couple of more years. Oh, by the way, have you checked out their new logo? Shhh.Don’t say a word. Apparently Netflix is staying mum on the subject.

A treasure of Treasury stories…

Image courtesy of digitalart/FreeDigitalPhotos.net

Image courtesy of digitalart/FreeDigitalPhotos.net

If you’re nothing like me and are already starting to think about what to get your dad for Father’s Day…well, I got nothing for you really, that is unless you have any interest in purchasing former Treasury Secretary’s Timothy Geithner’s new book, “Stress Test: Reflections on Financial Crises.” It’s a memoir from someone thoroughly familiar with navigating an enormous financial crisis. If you recall, he’s the dude who was at the helm of the worst recession and financial crisis since the Great Depression, bailing out AIG and not bailing out Lehman Brothers. Geithner spent four years at the Treasury before moving onto private equity firm Warburg Pincus LLC. In 2010, he wanted to step down from his post, even telling President Obama to consider Hillary Clinton for the job. Obama declined. Supporters say he helped to stabilize banks and avoid a complete epic financial meltdown. Those less than enthused with his fiscal prowess say he was way more concerned with bailing out big banks and less concerned with their customers who were staring down the black hole of foreclosure. The book comes out Monday.

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