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August 2009
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08/09/09
Apple promoting locally developed iPhone software nationally
Filed under: General, Business
Posted by: Lillian Wong @ 6:47 pm

Wine Ph.D., an iPhone app created by Valley resident Brian Pierce, is sold for $4.99 and already has been downloaded 10,000 times. Pierce says he expects to sell 70,000 by the end of this year.

 

Brian Pierce’s iPhone application,

Wine Ph.D., has Apple Inc. staffers — and wine enthusiasts everywhere — making sure his cup runneth over.

 

The restaurant industry veteran and former sommel­ier, along with partner Dave Lau­inger, hatched the idea of a virtual wine encyclopedia years ago as something family and friends could use when shopping for the perfect bottle of wine. He wanted to make it a mobile application, and he said the iPhone was the right fit.

 

That app, which launched just eight weeks ago, was listed as a staff favorite on Apple’s App Store before becoming part of a national ad campaign tagging it as one of the 16 hottest apps of the summer. Pierce already has sold nearly 10,000 downloads of the program at $4.99 a pop, and he expects to sell 70,000 before the end of the year, making his wine encyclopedia a $350,000 enterprise in less than six months.

 

He’s likely to reach that goal thanks to Apple’s advertising campaign, which features its hot app picks in USA Today, The Wall Street Journal and New York Times print ads, among others.

 

Phoenix Business Journal - by Patrick O’Grady Friday, August 7, 2009



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Less risk a selling point for new ARMs
Filed under: General, Mortgages
Posted by: Lillian Wong @ 6:24 pm

Even as skyrocketing adjustable-rate mortgage payments are forcing thousands of Arizonans out of their homes, some lenders and home builders are promoting the next generation of variable-rate loans.

Today’s adjustable-rate mortgages, or ARMs, are less risky than the exotic loan products pushed during the housing boom, experts said, but they operate on the same principle of initial low monthly payments in exchange for potentially high payments later on.  more…



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Foreclosures surged in July
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:09 pm

Lenders rushed to foreclose on homes in metropolitan Phoenix during the last week of July. Each day last week, the number of foreclosures climbed an average of 60.

Due to the surge, foreclosures hit a new monthly record of 5,316 in July, compared with 5,149 in June, Information Market reports.   more…



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Commercial foreclosures rocket
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:23 pm

More than 2,000 commercial properties in Maricopa County have received 90-day foreclosure notices since Jan. 1, representing $6.3 billion in real-estate loans on which the borrowers have failed to make payments.  more…



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