From the Marketplace Datebook, here's a look at what's coming up Friday, May 30:
In Washington, the Commerce Department reports on personal income and spending for April.
National Hurricane Preparedness Week continues ahead of hurricane season.
Other famous vehicles in history on this day include NASA's spacecraft Mariner 9. Launched in 1971 on a mission to map the surface of Mars, it became the first spacecraft to orbit another planet.
The University of Michigan issues its final May consumer sentiment survey.
And some folks celebrate National Mint Julep Day. Luckily it falls at the end of the week.
The image illustrates the White Solo Beats by Dr. Dre. Apple is allegedly in talks to purchase Beats eletronics- an acquisition that would cost a reported $3.2 billion.
Apple has two new employees on board after deciding to buy music brand Beats Electronics yesterday for $3 billion dollars. One of them you probably know -- rapper Dr. Dre, the other probably not.
Music executive Jimmy Iovine is less of a name and more of a music visionary -- or at least that’s what Apple hopes. What Iovine brings to the company first and foremost is that he’s a music industry superstar. He’s worked with Bruce Springsteen, John Lennon, U2 and 50 Cent. He knows people and people know him. He’s got a reputation in the industry as a business guy who can relate to artists and creative types. And the thinking is that he will help Apple hammer out new deals.
He’s also seen as innovative. He helped launch the Interscope Records label that promoted gangster rap in the late 80’s and early 90’s. Iovine also got artists to market clothes and electronics -- the Beats headphones with Dr. Dre is a perfect example.
One important question is what Iovine can do to help Apple make more of a name for itself in the online music subscription service world dominated by the likes of Spotify and Pandora. Beats does bring with it a music streaming service, with 250,000 subscribers. Of course that’s modest compared to Spotify’s 10 million.
Jackdaw analyst Jan Dawson says, really, what Apple is buying is someone who has a natural gift for understanding what consumers want.
“Steve Jobs had great instincts in that area too. But obviously since his departure that’s fallen to other people and Apple has a very capable set of executives but they don’t have somebody with that same instinctive relationship with music who can really understand what it is that people want and how they are going to buy it,” he says.
Apple is betting if you match Iovine with Apple’s resources, they’ll find some way to make beautiful music together.Marketplace Morning Report for Thursday May 29, 2014Interview with Dan GorensteinStory Type InterviewSyndication PMPApp Respond No
Stuart Foster of South Carolina was jailed last year in Guangzhou for theft. He says he was forced to assemble Christmas lights, some of them exported to the U.S.
At high poverty schools, "students rarely experience a normal school day, let alone semester or year."
This really might not be enough to prevent a concussion.
There's a big rush to reduce concussions in sports. But the technology has yet to catch up with the demand.Marketplace Morning Report for Thursday May 29, 2014 Hosted By Stacey Vanek SmithPodcast Title 05-29-14 Marketplace Mid-day Update: The cost of concussionsStory Type BlogSyndication PMPApp Respond No
A workforce-based initiative on a twin island nation shows the true potential of free online education.