New and Noteworthy: Apple admits next iMac will have G5; Steve Jobs looking to tear down "historic" residence; more

Apple admits next iMac will have G5 During its third quarter fiscal results call, incoming Apple CFO Peter Oppenheimer admitted that the next-generation iMac -- due in September -- will sport a G5 processor. Oppenheimer also dismissed rumors that heat dissipation issues with the PowerPC 970FX contributed to the delay in releasing the new iMac. More.

Steve Jobs looking to tear down "historic" residence The New York Times reports that Steve Jobs is looking to tear down a 17,000-square-foot, 14-bedroom, 13 1/2-bath baronial mansion. "In what could become America's highest-profile tear-down, Mr. Jobs, the Apple and Pixar chief executive, is seeking this town's permission to hit the delete button on the 1926 Daniel C. Jackling estate, a moldering manse designed by George Washington Smith, the architect who created the look of Montecito and Santa Barbara in the 1920's. [...] one that currently stands empty and derelict at the end of a stone-lined cul-de-sac. Mr. Jobs, however, can't abide the place. He recently described it publicly as 'one of the biggest abominations of a house I've ever seen.'" More.

First in-flight cell phone test Qualcomm and American Airlines say they have successfully demonstrated in-cabin voice communications using commercially available CDMA mobile phones on a commercial American Airlines aircraft. Through the use of an in-cabin third-generation (3G) 'picocell' network, passengers on the test flight were able to place and receive calls as if they were on the ground. More.

$7 Billion Online Music and Video Market by 2008 The emerging online media services market -- which allows broadband consumers to legally obtain music and video over the Internet -- is set to generate nearly $7 billion in revenues by 2008, according to Online Media Services: Forecasts, Business Models and Analysis, newly published by Digital Tech Consulting (DTC). More.

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