November 18, 1931: Roberto C. Goizueta is born in Havana, Cuba. He studied chemical engineering at Yale University and after graduating in 1953, returned to Cuba where he started out in an entry-level chemist position at The Coca-Cola Company. He and his family left Cuba after Fidel Castro’s rise to power and relocated in Miami, where Read More …
Nov 2, 1959: Charles Van Doren admitted to a House subcommittee that he was provided advance knowledge of the questions and answers he would receive on the TV gameshow “Twenty One.” These shows had become popular in the 1950s after the US Supreme Court ruled in Federal Communications Commission v. American Broadcasting Co., Inc. that Read More …
October 31, 1837: Two European immigrants, William Procter and James Gamble, happened to marry sisters Olivia and Elizabeth Norris in Cincinnati in the early 19th century. Their father-in-law Alexander Norris convinced Procter, a candle maker, and Gamble, a soap maker, to join their businesses since they used common raw ingredients. Starting with total assets of just Read More …
October 26, 1825: Although construction first began in 1817, the Erie Canal did not officially open until October 26, 1825. Connecting the Hudson River with Lake Erie, the Erie Canal helped transform New York City into the main port in the United States and greatly increased opportunities for trade and settlements. The Erie Canal lay Read More …
October 19, 1987: As a call-back to the October 28, 1929 stock market crash on Black Tuesday, Black Monday refers to the October 19, 1987 stock market crash during which the Dow Jones Industrial Average (DJIA) fell 508 points (22.6% of its value) and the Dow Jones Index lost over $500 billion. The impact of Black Read More …
October 1, 1908: Also known as the Tin Lizzie, the Leaping Lena, and the “flivver,” the Model T was designed to be an accessible automobile for the masses. Inventor Henry Ford innovated the car making process by implementing assembly line production (as opposed to handcrafting), making the cars more affordable for the middle class and Read More …
September 29, 1952: The New York Stock Exchange ended the Saturday trading session to create a five day work-week. To even out the reduced number of days, a half hour was added to the close of the Monday-Friday trading sessions. That made the sessions open from 10AM -3:30PM. Sources: MarketWatch, Friends of Business History Read Read More …
September 25, 1986: Honeywell announced partnership discussions to join one of its computer operations with the Japanese firm NEC and France’s Groupe Bull. This consolidation was in part due to IBM’s large market size, controlling over 50% in 1986. According to a company official quoted in the New York Times, ”We can’t deal with computers Read More …
September 24, 1936: Jim Henson, creator of the Muppets, was born in Greenville, Mississippi. His passion for puppets started in high school, and he would go on to create lovable characters such as Kermit the Frog, Miss Piggy, Bert & Ernie, and Oscar the Grouch. His organizations The Jim Henson Company and the Jim Henson Read More …
September 15, 2008: After arduous but unsuccessful negotiations with the federal government and the leading investment banks of the world, Lehman Brothers files for the largest bankruptcy in American history. The company was originally founded in Montgomery, AL in 1850, and moved to New York City in 1869. The bankruptcy blindsided the American economy, leading Read More …
