Evolution Media

Apple Inc. introduced Ping today, a new social music network, included with iTunes 10. Here is a play-by-play of Steve Job's introduction of Ping to the public. Read more about Apple's fall product line on Faster Forward.


Apple - iTunes - Social network - Facebook - Steve Jobs

Apple Inc. announced today a smaller, cheaper version of its Apple TV device for streaming movies and television shows over the Internet. Here is a play-by-play of Steve Job's introduction of Apple TV to the public. Read more about Apple's fall product line on Faster Forward.


Apple - Steve Jobs - IPod - Netflix - Companies

Apple Inc. announced today a smaller, cheaper version of its Apple TV device for streaming movies and television shows over the Internet. Here is a play by play of Steve Job's introduction of Apple TV to the public. Read more about Apple's fall product line on Faster Forward.



Apple - Steve Jobs - IPod - Netflix - Companies

Emily Laermer - Vegetarian restaurant Uptown Juice Bar filed for Chapter 7 bankruptcy protection Tuesday.

The restaurant's financial difficulties are an exception to the rule, as juice bars are generally successful businesses, said Len Torine, executive director of the American Vegetarian Association. “Vegetarian restaurant closures aren't disproportionate," he said, adding that "it has to do more with the fact they are typically small businesses.”

Most vegetarian restaurants are created by small groups of people who want to follow a specific diet. Uptown Juice Bar, which has been in business for 15 years and is located on West 125th Street between Fifth and Lenox avenues, is owned by David Simmons. He also owns another vegetarian restaurant in Harlem called Cafe Veg.

The most successful vegetarian restaurants are ones that transcend the stereotypical vegetarian scene and enjoy a loyal customer base, Mr. Torine said.

“If you walked into a vegetarian restaurant 10 or 20 years ago, someone was playing the sitar, everyone was wearing Birkenstocks and the place was a little too early for mainstream,” he said. “The ones that do well are the ones that really get out of that box, and have good, fresh food.”

Uptown Juice Bar's filing estimates liabilities of $50,000 to $100,000, and assets of less than $10,000.

Creditors holding unsecured claims include Con Edison, which is owed $17,429 for the lighting bill, and David J. Platzer Properties, owed $40,000 for overdue rent.

Representatives from Uptown Juice Bar were unavailable for comment.

Unemployment in the Washington region remained steady at 6.3 percent from June to July, according to federal government data released Wednesday, despite significant job growth during the past year.


Washington - United States - Unemployment - Business and Economy - Work

In her final speech as White House chief economist, Christina Romer on Wednesday will call on Congress to summon the political will to approve additional spending on the economy.



Economic - Christina Romer - Social Sciences - Barack Obama - Council of Economic Advisers

Moody's, one of three major credit rating firms that misjudged many of the securities at the center of the financial crisis, escaped legal action when regulators said they would not sue the company for fraud despite finding evidence that the firm misled investors.


Moody - Fraud - Business - U.S. Securities and Exchange Commission - Credit rating agency

The agency's decision sidesteps a major sore point in trade relations between the two countries.


China - Asia - United States - United States Department of Commerce - Business and Economy

NEW YORK - The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.


Business - Investing - Stocks and Bonds - Equities - Stock market

Prices for single-family homes in major U.S. cities rose a modest 4.2 percent in June from a year earlier, but economists cautioned that the bounce was likely due to a now-expired home-buyer tax credit and that prices would likely fall, perhaps dramatically, in the coming months.



Washington - United States - Local News - Eastern Washington - National Weather Service

Federal domestic spending increased a record 16 percent to $3.2 trillion in 2009, the Census Bureau reported Tuesday, largely because of a boost in aid to the unemployed and the huge economic stimulus package enacted to rescue the sinking economy.


United States Census Bureau - United States - Government - Commerce Department - Executive Branch

Lenders posted their biggest quarterly profit in almost three years, even as the number of banks at risk of failure rose to 11 percent of insured institutions, the Federal Deposit Insurance Corp. said Tuesday.


United States - Federal Deposit Insurance Corporation - Heart failure - Sheila Bair - Health

Federal Reserve officials were divided at their Aug. 10 meeting over whether they should resume purchases of Treasury bonds and what impact the move could have on the nation's economy, according to minutes released Tuesday.


Politics - United States - Security - Policy - Policy Institutes

Emily Laermer - Yet another high-profile restaurateur has been sued by his employees.

Chris Cannon's high-end Italian eatery Alto has been accused of stealing tips and underpaying employees, according to a lawsuit filed by three hourly food service workers.

The employees have accused the midtown restaurant of distributing at least 4% of the servers' tips to general managers and other employees who are ineligible for gratuities, said Rachel Bien of Outten & Golden, who is representing the plaintiffs.

According to the filing, Arturo Reyes—an assistant who has worked at the restaurant since June 2009, and is part of the trio that filed the suit—discussed the matter this spring with Mr. Cannon, who acknowledged that the tip misappropriation was unlawful. Mr. Cannon reportedly told Mr. Reyes that if he had a problem with this, then he should file a lawsuit.

Alto 53 is also accused of requiring employees to pay for uniform maintenance, as well as denying wait staff spread-of-hours pay. The class action lawsuit will affect more than 100 employees who have worked at the restaurant since Aug. 30, 2004, and the amount in controversy exceeds $5 million, says the filing.

Over half a dozen restaurateurs have been accused of violating labor laws this year, including Terrance Brennan's Artisanal Fromagerie & Bistro, Eric Goode's B Bar and Grill and sandwich shop Bimmy's.

“When people hear about these cases, they learn about their own [possible] violations, and they start asking questions about these things,” Ms. Bien said.

Mr. Cannon and Alto chef Michael White are also teaming up for two new restaurants to open in the coming months: Ai Fiori, a 175-seat restaurant in the Setai hotel in midtown; and Osteria Morini, a 100-seat eatery downtown.

Alto's annual gross volume of sales is at least $500,000, according to the filing, while the duo's other restaurant, Marea, grossed $13.5 million during 2009—the year the restaurant opened.

Mr. Cannon was not available for comment.

U.S. single-family home prices in 20 major cities saw a modest increase of 4.2 percent in the second quarter from a year earlier, but economists cautioned that the bounce was likely due to the final days of the tax credit and that prices would likely fall, perhaps dramatically, in the coming months.



Washington DC - Washington - Gary Pinkel - Barack Obama - United States

At first blush, a government report released Monday appeared to offer hope to the nation's struggling auto industry: New-car sales in July fueled an uptick in consumer spending, which had been wheezing for three straight months.


Consumer spending - Business and Economy - Home - Unemployment - United States Department of Commerce

Under pressure to revive the faltering recovery, President Obama said Monday that he and his economic team are discussing "additional measures" to bolster growth and spur hiring, including "further tax cuts" to encourage businesses to create jobs.


Barack Obama - United States - President - History - Government

The International Monetary Fund on Monday further loosened its lending rules in an effort to prevent future financial crises from spreading around the world.



Economic - International - Bretton Woods Institutions - International Monetary Fund - United States

Barack Obama - United States - President - Government - Elections