Investors not impressed by Jobs' computer-in-the-envelope trick

Steve Jobs may have put on a good show yesterday on the Macworld conference stage, but not good enough for investors.

Steve Jobs may have put on a good show yesterday on the Macworld conference stage, but not good enough for investors. Jobs unveiled what he dubbed the “world's thinnest notebook,” a new Internet movie-rental service, and a product for getting Internet video to TV sets, reports the Wall Street Journal.

The Huffington Post writes, “Always a showman, Jobs unwound the string on a standard-sized manila office envelope and slid out the ultra-thin MacBook Air notebook computer to coos and peals of laughter from disbelieving fans at the conference.”

Jobs also demonstrated the first major software upgrade to the iPhone, reporting that Apple sold 4 million iPhones in their first six months, a number above most research firms' predictions.

Unfortunately, the clever intro didn't outweigh the innovative, yet limited, products' appeal for investors. Shares fell 5.5%.

Also:

Despite the cancellation of this year's Golden Globes, the Academy of Motion Picture Arts & Sciences insists that plans for the 80th annual Academy Awards will go on. However, if no strike agreement is met by Oscar night on February 24, there are lurking fears that the WGA might picket the show and cause members of the Screen Actor's Guild to avoid the red carpet or the show all-together. Gil Cates, producer of the award show and head of the DGA's negotiating committee, announced plans for an alternative show as a backup plan if the strike is still on.

Walmart is slated to open the first of its “high efficiency” stores on Jan 23, in Romeoville, IL, according to the Chicago Tribune via Consumerist. A few of the green features: The decorative floor boards and moldings are made from the material leftover from making the leg holes in disposable diapers; the exposed concrete floor is made of waste left over from coal operations; refrigerator and freezer cases have motion-sensitive light-emitting diodes (LED).

Oprah will join Discovery Communications in launching the Oprah Winfrey Network (OWN), a TV network in 2009. The network will replace the current Discovery Health Channel.

Isaac Mizrahi, one of the first celebrity designers to bring image and style to a retailer for the masses, is ending his five-year run at Target for the struggling Liz Claiborne attempting to revamp its image.

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