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 …
April 23, 1985: It was just 35 years ago today, April 23, 1985, when Coca-Cola officially launched New Coke to the world, stating that it was “smoother, rounder, yet bolder—a more harmonious flavor.” Marketers are still debating the many reasons why New Coke failed, but one reason has been attributed to the fact that the company made Read More …
June 16, 1933: Following the failure of nearly five thousand banks in 1929, which promulgated the Great Depression, the Glass-Steagall Act was signed into law. As a provision, and the Federal Deposit Insurance Corporation was established to protect bank customers’ deposits in the event of future bank failures. Source: The Oxford Encyclopedia of American Business, Labor, Read More …
June 1, 1980: With only 1.7 million viewers, the first 24-hour news cycle channel CNN was launched right here in Atlanta. The low viewership did not stop Ted Turner’s vision, and within three years, CNN gained over 33 million viewers. Now, CNN reaches hundreds of millions of households worldwide, not to mention passengers at every single Read More …
May 20, 1873: Jacob Davis and Levi Strauss, both immigrants to the United States, were granted U.S. patent number 139,121 for Davis’ innovative design using rivets to reinforce stress points in pants. Davis, a tailor in Reno, Nevada, regularly bought fabric from Strauss’s dry goods store in San Francisco and had reached out to him in a Read More …
