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The 5 Dumbest Things on Wall Street: Oct. 1

1. Apple Gets All Touchy About Its Precious Little iPad

Apple (AAPL) doesn't seem to have a sense of humor when it comes to the destruction of iPads. Or at least it doesn't when Cablevision's (CVC) Newsday does it to promote its iPad app. But when the New Yorker does the same, well heck, that's just funny.

Last week, Newsday launched a highly entertaining and humorous ad touting its iPad app [see below]. In it, a father sits at the breakfast table and -- forgetting that his iPad is not, in fact, a newspaper -- swats a fly with his iPad, shattering the device. Not only is the ad a compliment to the usability of iPad, it's also freakin' hilarious.

Regardless, according to Networkworld.com, Apple apparently took exception to seeing the iPad screen broken into pieces. An unverified Newsday insider said Apple sent Newsday and cease and desist letter. Newsday took the video down in short order.

Then, this week, the New Yorker unveiled its own iPad app ad, this one featuring actor Jason Schwartzman and shot by Roman Coppola. In it, Schwartzman is seen using his iPad in the shower and even taking it for a dip in the pool -- which, and we're just guessing here, probably ain't so great for the touch screen.

But did Apple have any problem with the New Yorker's style of iPad destruction? According to a spokesperson for the magazine, there hasn't been a peep from Apple. So what, exactly is the issue here? Production values? Star power? Perhaps a certain class distinction between readers of Long Island's Newsday and the New Yorker?

We're unlikely to know Apple's reasoning for such a ridiculous double-standard, but businesses eager to develop and market their own iPad apps should take note: if you're going to abuse the The World's Most Important and Precious Product, you'd better make sure you're doing it in a sophisticated, high-minded, indie-darling sort of way.

TheStreet Says: Is there an app for identifying elitist double standards?

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