July 11, 2013 in Business

Early Apple machine sells for $387,750

From Wire Reports
 
Associated Press photo

This Apple 1 computer sold on Monday for $387,750 at a Christie’s auction.
(Full-size photo)

NEW YORK – An original Apple computer from 1976 has sold at auction for nearly $388,000.

Known as the Apple 1, it was one of the first Apple computers ever built.

It sold Monday for $387,750 at a Christie’s online-only auction. Bolaffi, an Italian collections company, said in a statement that it bought the computer. The seller was a retired school psychologist from Sacramento, Calif.

Vintage Apple products have become a hot item since Steve Jobs’ death in October 2011. Jobs joined forces with Steve Wozniak to build computer prototypes in a California garage, and Wozniak built the Apple 1.

Another Apple 1 was sold in May for a record $671,400 by a German auction house. It broke a record of $640,000 set in November.

Smithfield CEO testifies on takeover

RICHMOND, Va. – The head of Smithfield Foods Inc. is trying to ease concerns that the pork producer’s proposed takeover by a Chinese company would pose risks to the U.S. food supply.

CEO Larry Pope testified Wednesday at a Senate Agriculture Committee hearing on the pending deal with Shuanghui International.

Committee Chairwoman Debbie Stabenow said the proposed purchase of the Smithfield, Va.-based company raises many questions, including the impact on food safety and security.

Pope told the committee that the deal isn’t about importing Chinese pork into the U.S. Instead, Pope said it’s a chance to export into new markets with its brands, such as Smithfield, Armour and Farmland.

The deal valued at about $7.1 billion including debt is subject to federal and shareholder approvals, and is expected to close later this year.

Tribune Co. seeks broadcast, print split

CHICAGO – Tribune Co. says it wants to split its broadcasting and publishing businesses into two companies.

Tribune says the move will let one company take advantage of growth in broadcasting while the other focuses on newspapers, where revenue has been falling.

Chicago-based Tribune owns 23 TV stations and cable network WGN America, along with the Chicago Tribune, Los Angeles Times and other newspapers. Earlier this month, it announced plans to buy Local TV Holdings and its 19 television stations for $2.73 billion.

The newspapers would be spun off into an independent company to be called Tribune Publishing Co.

The remaining company would include Tribune’s local television stations; WGN radio and cable networks; its television production, digital and media services ventures; and its interests in other companies and real estate.


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