Apple Corps Apple Electronics Apple Boutique Magic Alex Lennon and McCartney
In May, Lennon and McCartney travelled to New York for the public unveiling of the Beatles' new business venture, Apple Corps. It was initially formed several months earlier as part of a plan to create a tax-effective business structure, but the band then desired to extend the corporation to other pursuits, including record distribution, peace activism, and education. McCartney described Apple as "rather like a Western communism". The enterprise drained the group financially with a series of unsuccessful projects handled largely by members of the Beatles' entourage, who were given their jobs regardless of talent and experience. Among its numerous subsidiaries were Apple Electronics, established to foster technological innovations with Magic Alex at the head, and Apple Retailing, which opened the short-lived Apple Boutique in London. Harrison later said, "Basically, it was chaos ... John and Paul got carried away with the idea and blew millions, and Ringo and I just had to go along with it."
