September 12, 1950: The Pennsylvania Insurance Department approves the Insurance Company of North America’s request to go to market with a new “package” that allowed homeowners to insure their properties against multiple risks including fire, theft, storms, explosions, and vandalism, rather than the multiple policies required previously. This innovation saved customers over 20% and has become the standard in Read More …
September 11, 2001: September sadly marks the 16th anniversary of the terrorist attacks on the World Trade Center. Being a working day, many lives were lost at businesses in the two towers. The financial firm Cantor Fitzgerald lost the most with the demise of two-thirds of its 960 employees. It had offices on floors just above Read More …
August 12, 1920: On this day, Charles Ponzi was arrested on 86 counts of mail fraud and went down in infamy for his expansive investment scheme, which became known as a “Ponzi Scheme.” After working many odd jobs and spending a few years in jail for crimes such as check forging and smuggling Italian immigrants across Read More …
August 4, 1930: When Michael J. Cullen suggested to the management of Kroger, his employer at the time, that they reinvent food stores by creating larger mostly self-service stores with low prices and more parking, they ignored him. He left his job at Kroger as General Sales Manager for 94 Illinois stores, and opened “America’s First Read More …
