Apple funds a four million dollar renovation to a subway adjacent to a new retail store in Chicago and wants to rename the stop in their honor.
This is what happens when Apple invests in public transit.
The four-million dollar renovation to the station in Chicago's Lincoln Park neighborhood was funded by the computer giant in conjunction with the construction of a new retail store on a nearby property. The stop, according to the Chicago Tribune, was in such disrepair that riders would get off further down the road just to avoid the area—clearly a challenge for a new retail outlet trying to attract customers.
Apple has requested that the stop be dubbed the "Apple Red Line" stop. It's not clear if that will happen, but the CTA, the local transit authority, is considering selling naming rights to its stations and has agreed to give Apple right of first refusal for this one. In any case, they will almost certainly keep the area plastered with Apple ads for the foreseeable future.
"It's the equivalent of mowing the neighbor's weedy lawn—and paying the neighbor to let you," writes Mary Schmich.
What do you think? Savvy business move, an alarming precedent for public/private partnerships or both?