San Jose Stories December 14, 2015
San Jose Stories November 4, 2015
The tech company is currently seeking an agreement with the city that would allow it to develop the massive lot for a new campus, though actually getting such an agreement would not necessarily guarantee that Apple would begin construction.
San Jose Stories October 26, 2015
Home tracking firm Zillow demonstrates the Apple effect on housing prices in San Francisco & San Jose
It’s long been taken as read that high tech company salaries push up housing costs in the surrounding areas, but the WSJ commissioned home tracking company Zillow to provide some hard data. By tracking the increase in values of homes owned by Apple employees, it was able to prove that home values in those areas rose further and faster than in surrounding areas with similar demographics.
The piece notes that zoning laws and regulatory red tape also have a significant effect, by limiting the supply of housing at a time when demand is increasing, but the comparison does suggest that there is a direct link to tech companies like Apple.
Homes occupied by Apple workers are appreciating at 18% a year, compared with 11% for San Francisco as a whole and 12% for San Jose. Since iPhone sales launched in June 2007 [and stock values rose], the Zillow analysis found, the average difference between the median home value of Apple workers and San Jose workers has swelled to 20% from 13%.
The problem of lower-paid workers finding it hard to find housing within reasonable commuting distance of tech companies like Apple has been highlighted in the past. Apple took the decision back in March to hire the majority of its previously contracted security guards as staff, providing them with health insurance and retirement benefits. The company also arranged for its contracted shuttle bus workers to get an improved deal.
San Jose Stories August 3, 2015
San Jose Stories June 1, 2015
Widow recycles Apple I computer, not realizing it was worth $200k
With only around 200 Apple I computers ever made, they fetch six-figure sums these days – but it seems not everyone knows their value. The San Jose Mercury News reports that a woman dropped off several boxes of electronics at a South Bay recycling company, saying she just wanted to “get rid of this stuff” to clear out her garage after her husband died.
The woman didn’t leave her details, and the company didn’t go through the boxes until some weeks later, when they discovered the vintage computer. They have now sold it to a private collector for $200,000.
It’s not all bad news for the mystery woman, though: recycling company Clean Bay Area says its policy is to give half the proceeds of sales to the original owner, so if she comes forward she’ll receive a check for $100k. Chancers will be out of luck – Vice President Victor Gichun, who took in the boxes from her, says he remembers both the woman’s face and her SUV. All she has to do to collect is show up.
San Jose Stories December 7, 2014
A former Apple Global Supply Manager was sentenced in a San Jose federal court earlier this week nearly 3 years after being convicted of wire fraud, conspiracy and money laundering in relation to selling Apple iPhone and component secrets to Apple’s suppliers. AP notes that Paul Shin Devine was up to no good:
“The scheme funneled millions in kickbacks to Devine for passing along confidential information to Apple Inc. suppliers and manufacturers who used the secrets to negotiate more favorable deals.”