Customers anticipating Apple's celebrated iPhone will only find it at AT&T and Apple stores. The iPhone is a combination of three innovative products: a unique mobile phone, a built-in widescreen iPod, and a revolutionary Internet browser. The device features a touchscreen instead of a conventional keypad. The product is due to launch at the end of this month. Customers can also place their orders at Apple's website. Although the iPhone will be available at a limited number of locations initially, it will later be sold through AT&T's website, the company's network of more than 8,000 retailers, and other stores, as well.
Chain eatery Bertucci's faces class action suit
A class action suit was filed last week against leading Italian chain eatery Bertucci's Corporation. The suit seeks to prevent Bertucci's from printing confidential credit card data on consumer sale receipts. The Fair Credit Reporting Act prohibits retailers from printing information such as a card's expiration date and the last five digits of the card's number. Fines range from $100 to $1,000 per violation. The law gives retailers three years to implement technology and hardware changes addressing compliance issues. The consumer advocate group MassPIRG has said that the printing of such confidential information amounts to fraud. Founded in 1981, Bertucci's was acquired in 1998 by NE Restaurant Company for around $89 million.
Bank of America merges private wealth management business with U.S. Trust
Bank of America has announced that its private wealth management business will now be called "U.S. Trust, Bank of America Private Wealth Management." Bank of America has served wealthy families since 1784, and U.S. Trust has managed a similar business portfolio since 1853. Their combined business will manage more than $270 billion worth of property in 32 states across the country. Now one of the largest financial institutions in the country, the company caters to the needs of businesses in about 175 nations.
Disney's consumer product sales expected to rise 13%
The Walt Disney Company expects its global retail sales to rise by approximately 13% this year, reaching nearly $26 billion. Disney's flourishing product line already includes Cars and Hannah Montana merchandise. Disney is also relying on its independent storytelling divisions to produce intellectual property that will hold immense revenue potential for the company. Product chairman Andrew Mooney expects double-digit sales figures in a five- to seven-year period. Disney banks on product lines such as "Princesses and Fairies" targeting girls and "Disney Channel" targeting older boys.
WiMAX modems may be launched by late 2007
Navini Networks, a world leader in commercial plug-and-play broadband wireless-access solutions, is working with the Taiwanese hardware company ASUS to develop certified mobile subscriber WiMAX modems. The company aims to help operators choose the best wireless networks and ranges of quality modems. Sai Subramaniam, vice president of Navini Networks, said that he anticipates that the WiMAX forum will soon endorse a range of desktop devices that can be used with mobile WiMAX. Currently, there are several WiMAX suppliers in the market, including Intel and Motorola. Plans are in the works to make such modems available at retail stores.
