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Apple Corps Limited is a multi-armed multimedia corporation founded in London in January 1968 by the members of The Beatles to replace their earlier company (Beatles Ltd.) and to form a conglomerate. The name is a pun for its pronunciation "apple core". Its chief division is Apple Records, which was launched in the same year. Other divisions included Apple Electronics, Apple Films, Apple Publishing and Apple Retail, whose most notable venture was the short-lived Apple Boutique, on the corner of Baker Street and Paddington Street in central London. Apple's headquarters in the late 1960s was at the upper floors of 94 Baker Street, after that at 95 Wigmore Street, and subsequently at 3 Savile Row. The last of these addresses was also known as the Apple Building, which was home to the Apple studio. From 1970 to 2007, Apple's chief executive was former Beatles road manager Neil Aspinall, although he did not officially bear that title until Allen Klein had left the company. The current CEO is Jeff Jones. In 2010, Apple Corps ranked number two on the Fast Company magazine's list of the world's most innovative companies in the music industry, thanks to the release of The Beatles: Rock Band video game and the remastering of the Beatles' catalogue. History The Beatles' accountants had informed the group that they had £2 million that they could either invest in a business venture or else lose to the Inland Revenue, because corporate/business taxes were lower than their individual tax bills. According to Peter Brown, personal assistant to Beatles' manager Brian Epstein, activities to find tax shelters for the income that the Beatles generated began as early as 1963–64, when Walter Strach was put in charge of such operations. First steps into that direction were the foundation of Beatles Ltd and, in early 1967, Beatles and Co. The Beatles' publicist, Derek Taylor, remembered that Paul McCartney had the name for the new company when he visited Taylor's company flat in London: "We're starting a brand new form of business. So, what is the first thing that a child is taught when he begins to grow up? A is for Apple". McCartney then suggested the addition of Apple Core, but they could not register the name, so they used "Corps" (having the same pronunciation). McCartney later revealed that he had been inspired by René Magritte's painting Le Jeu de Mourre, featuring an apple with the words "Au revoir" painted on it. Harriet Vyner's 1999 book about the late lamented charismatic London art dealer Robert Fraser, "Groovy Bob", contains this anecdote by McCartney about the first time he laid eyes on the painting that would inspire the company logo in 1967: In my garden at Cavendish Avenue, which was a 100-year-old house I'd bought, Robert was a frequent visitor. One day he got hold of a Magritte he thought I'd love. Being Robert, he would just get it and bring it. I was out in the garden with some friends. I think I was filming Mary Hopkin with a film crew, just getting her to sing live in the garden, with bees and flies buzzing around, high summer. We were in the long grass, very beautiful, very country-like. We were out in the garden and Robert didn't want to interrupt, so when we went back in the big door from the garden to the living room, there on the table he'd just propped up this little Magritte. It was of a green apple. That became the basis of the Apple logo. Across the painting Magritte had written in that beautiful handwriting of his 'Au revoir'. And Robert had split. I thought that was the coolest thing anyone's ever done with me". Formation On the founding of Apple, John Lennon commented: "Our accountant came up and said 'We got this amount of money. Do you want to give it to the government or do something with it?' So we decided to play businessmen for a bit because we've got to run our own affairs now. So we've got this thing called 'Apple' which is going to be records, films, and electronics – which all tie up". Stefan Granados wrote in Those Were the Days: An Unofficial History of the "Beatles" Apple Organization 1967–2001, on the various processes that led to the formation of Apple Corps: The first step towards creating this new business structure was to form a new partnership called Beatles and Co. in April 1967. To all intents and purposes, Beatles and Co. was an updated version on the Beatles' original partnership, Beatles Ltd. Under the new arrangement, however, each Beatle would own 5% of Beatles and Co. and a new corporation owned collectively by all four Beatles [which would soon be known as Apple] would be given control of the remaining 80% of Beatles and Co. With the exception of individual songwriting royalties, which would still be paid directly to the writer or writers of a particular song, all of the money earned by the Beatles as a group would go directly to Beatles and Co. and would thus be taxed at a far lower corporate tax rate". Now that a new business structure was found with a lower tax rate, Epstein mused what to do with it to justify it to the authorities, and originally thought of it mostly as a merchandising company, according to Lennon's first wife, Cynthia: "The idea Brian came up with was a company called Apple. His idea was to plough their money into a chain of shops not unlike Woolworth's in concept: Apple boutiques, Apple posters, Apple records. Brian needed an outlet for his boundless energy". Personal assistant to Epstein, Alistair Taylor remembered: We set up an 'Executive Board' of Apple before Brian died, including Brian, the accountant, a solicitor, Neil Aspinall, myself, and then sat down to work out ways of spending the money. One big idea was to set up a chain of shops designed only to sell cards: birthday cards, Christmas cards, anniversary cards. When the boys heard about that they all condemned the scheme as the most boring yet. Sure that they could come up with much better brainwaves, they began to get involved themselves". In the middle of setting up the new company, manager Epstein died unexpectedly in what seemed an accidental sleeping pills overdose on 27 August 1967, which pressed the Beatles to accelerate their plans to gain control of their own financial affairs. In addition to providing an umbrella to cover the Beatles' own financial and business affairs, Apple was intended to provide a means of financial support to anyone in the wider world struggling to get 'worthwhile' artistic projects off the ground. According to Granados, this idea probably originated with Paul McCartney as the Beatle most engaged in London's local avant-garde scene, "McCartney was among the best-known exponents of swinging London". Ringo Starr was quoted as saying of the venture: We tried to form Apple with [Brian's brother] Clive Epstein, but he wouldn't have it... He didn't believe in us I suppose... He didn't think we could do it. He thought we were four wild men and we were going to spend all his money and make him broke. But that was.... Discover the Little Green Apples Publishing Llc popular books. Find the top 100 most popular Little Green Apples Publishing Llc books.