APPLE (Room 323)
APPLE (Room 323)
It is unclear as to when The Beatles decided upon “Apple” as the name for a new company. There are conflicting stories but one thing was certain, that by March 1967 The Beatles were facing a huge tax bill, approaching £3million, a colossal sum in those days. Unbelievably, the top rate of tax was 96% (hence the lyrics “one for you, nineteen for me” in George Harrison’s 1966 song, ‘Taxman’). The tax advice was to invest money into a new venture and quickly, otherwise the money would simply end up in the Chancellor’s pocket. Initially, The Beatles saw Apple as a record company, a label on which like-minded artists could record. Paul was looking at Magritte’s ‘The Guessing Game’, which he owned when he decided upon the name. The painting featured a large green apple. Paul added ‘Corps’ as a joke and ‘Apple Corps’ was born. The philanthropic nature of the company was a reflection of the band’s new idealistic attitude fueled by the Summer of Love. Although the decision to form Apple had been made by Easter 1967, Brian’s death was to accelerate the process. The Beatles’ business interests were re-branded ‘Apple Corps’ in November 1967. The Beatles were to open an Electronics Division and a Fashion Boutique. By 1969 their laissez faire idealistic business was on the verge of bankruptcy. Friends, associates, strangers helped themselves and ultimately at least 96% tax had left them with something. The way Apple was going there would be nothing left. A new manger, Allen Klein, was brought in to curb the excess but this led to more divisions within the band. After the band broke up, ironically, a much pared down company, led by their trusted confident Neil Aspinall, has developed into one of the most profitable and powerful music companies in the world.
Artwork painted and owned by ©SHANNON
APPLE (Room 323)
It is unclear as to when The Beatles decided upon “Apple” as the name for a new company. There are conflicting stories but one thing was certain, that by March 1967 The Beatles were facing a huge tax bill, approaching £3million, a colossal sum in those days. Unbelievably, the top rate of tax was 96% (hence the lyrics “one for you, nineteen for me” in George Harrison’s 1966 song, ‘Taxman’). The tax advice was to invest money into a new venture and quickly, otherwise the money would simply end up in the Chancellor’s pocket. Initially, The Beatles saw Apple as a record company, a label on which like-minded artists could record. Paul was looking at Magritte’s ‘The Guessing Game’, which he owned when he decided upon the name. The painting featured a large green apple. Paul added ‘Corps’ as a joke and ‘Apple Corps’ was born. The philanthropic nature of the company was a reflection of the band’s new idealistic attitude fueled by the Summer of Love. Although the decision to form Apple had been made by Easter 1967, Brian’s death was to accelerate the process. The Beatles’ business interests were re-branded ‘Apple Corps’ in November 1967. The Beatles were to open an Electronics Division and a Fashion Boutique. By 1969 their laissez faire idealistic business was on the verge of bankruptcy. Friends, associates, strangers helped themselves and ultimately at least 96% tax had left them with something. The way Apple was going there would be nothing left. A new manger, Allen Klein, was brought in to curb the excess but this led to more divisions within the band. After the band broke up, ironically, a much pared down company, led by their trusted confident Neil Aspinall, has developed into one of the most profitable and powerful music companies in the world.
Artwork painted and owned by ©SHANNON
APPLE (Room 323)
It is unclear as to when The Beatles decided upon “Apple” as the name for a new company. There are conflicting stories but one thing was certain, that by March 1967 The Beatles were facing a huge tax bill, approaching £3million, a colossal sum in those days. Unbelievably, the top rate of tax was 96% (hence the lyrics “one for you, nineteen for me” in George Harrison’s 1966 song, ‘Taxman’). The tax advice was to invest money into a new venture and quickly, otherwise the money would simply end up in the Chancellor’s pocket. Initially, The Beatles saw Apple as a record company, a label on which like-minded artists could record. Paul was looking at Magritte’s ‘The Guessing Game’, which he owned when he decided upon the name. The painting featured a large green apple. Paul added ‘Corps’ as a joke and ‘Apple Corps’ was born. The philanthropic nature of the company was a reflection of the band’s new idealistic attitude fueled by the Summer of Love. Although the decision to form Apple had been made by Easter 1967, Brian’s death was to accelerate the process. The Beatles’ business interests were re-branded ‘Apple Corps’ in November 1967. The Beatles were to open an Electronics Division and a Fashion Boutique. By 1969 their laissez faire idealistic business was on the verge of bankruptcy. Friends, associates, strangers helped themselves and ultimately at least 96% tax had left them with something. The way Apple was going there would be nothing left. A new manger, Allen Klein, was brought in to curb the excess but this led to more divisions within the band. After the band broke up, ironically, a much pared down company, led by their trusted confident Neil Aspinall, has developed into one of the most profitable and powerful music companies in the world.
Artwork painted and owned by ©SHANNON