Today’s the Day you Get the Apple Watch… Psych
The day has finally arrived! The Apple Watch went on sale at 3:01 AM EST last night, with models in the Apple store for on-the fencers to finally check out. The watch is billed as an iPhone companion for your wrist, and comes in a number of style combinations. Prices for the watch run anywhere from $349 up to a whopping $17,000 18-karat gold version. (Note: if your new accessory is more expensive than your Birkin bag, you might have a problem).
If you were hoping to get your hands on an Apple Watch today, think again. In a new twist, Apple (AAPL) only made the watch available online, not yet in stores. And the watch essentially sold out within the first 10 minutes of online ordering. Most customers who ordered today are going to be waiting until June or July to receive their watches.
For everything you could ever want to know about the Apple Watch, check out The Verge’s in-depth user review.
General Electric Slims Down
Like many of us post-Easter, General Electric (GE) is slimming down. The conglomerate announced today that it is selling off its GE Capital banking businesses in order to streamline and concentrate on its manufacturing businesses. GE kicked off the announcement by selling $26 billion worth of real estate – and there’s much more where that came from. GE is trading up 9% today on the news.
Interestingly, GE Capital was GE’s biggest revenue driver in 2014, comprising 28% of revenues. GE expects that number to decline to 10% by 2018. In good news if you’re a shareholder, GE will return much of the proceeds from the sales to shareholders. GE said it will return as much as $90 billion to investors through share buybacks and dividends by 2018.
GE seems to be following a trend of big businesses selling off divisions in an effort to improve performance. Both HP and eBay made similar announcements last year.
I Believe I Can Fly
In today’s edition of news that I find absolutely terrifying, the FAA just renewed Amazon’s (AMZN) drone research license. Amazon has ambitions to deliver packages as quickly as 30 minutes after ordering through a Prime Air initiative.
The FAA granted commercial drone exemptions to 29 other companies, bringing the grand exemption total to 128. Because I didn’t hate flying enough as it is…
Fashion Friday: J.Crew Hosts a Spring Sale
Just in time for a spring wardrobe update, J.Crew is offering 25% off full-price styles and an extra 30% off spring sale styles with code SHOPNOW. A few of my favorites: