Behind every growth spurt, there are teams quietly shaping outcomes. These aren’t always in the spotlight yet drive results. Focus shifts from flashy moves to steady execution. Success hides in routine work done with purpose. Growth feels natural when built on consistent effort. Quiet strength often moves metrics more reliably.

Picture fast-growing firms. Big ad pushes come to mind. Or new gadgets making headlines. Yet behind standout success, another force hums quietly. This isn’t about loud launches or flashy spending. It’s about subtle planning woven into daily work. Growth here isn’t visible until it shows up. Steady moves, smart choices - no fanfare needed.

Mastering Customer Loyalty: The True Growth Multiplier

What holds this quiet push together? A steady eye on holding on to customers, not just chasing new ones. Instead of rushing after numbers, there's a knowing that satisfied regulars drive real progress over time. Outcomes shine when support meets high standards each touchpoint shaped to soothe problems fast while leaving feelings of wonder behind. What shapes trust often goes unseen knowing how each person interacts with a brand helps tailor messages in ways that feel personal. Instead of broad campaigns, small moments add up, creating the sense that one person matters here. When like-minded customers connect through shared experiences, bonds grow stronger without fanfare. Quiet connections build steady income, where promotion happens naturally among those already invested.

The Power of Data: Guiding Growth from Behind the Scenes

What stands out just as much, though rarely gets attention, is how deeply data-driven decision-making shapes things. Guesswork plays little role here - insight does the heavy lifting. Customer patterns, daily operations, shifts in the wider market get closely examined, not casually but with constant attention. Because of that scrutiny, every move aimed at improvement follows clear evidence, not hunches. Nowhere is change more quiet than when sites quietly split traffic to see what clicks better. Messages shift back and forth while teams track which stick messaging, layouts, calls to action actually lock in attention. People follow step-by-step paths through the system, spotting where things stall without warning. Patterns emerge ahead of problems thanks to number-crunching tools watching trends. Most of this tweaking runs on its own fuel, invisible yet steady, guiding spending like a compass. Efficiency grows not by loud claims but by smarter moves made every day.

Strategic Partnerships: Amplifying Reach Through Collaboration

Photo by Constantin Wenning on Unsplash

What often goes unnoticed is how strategic alliances help drive expansion. Instead of tackling each segment solo, firms choose to team up with others that fit well alongside them. From shared promotions targeting fresh customer groups to deeper system integrations boosting mutual worth, these ties quietly push results forward. Through smart partnerships, companies step into spaces they’d struggle to reach alone - gaining access to audiences that might otherwise demand huge investments, letting their own progress grow faster while spending less.

Building for Scale: Efficiency and Automation as Foundations

Photo by Brett Jordan on Unsplash

What stands out too is how deeply focused they become on smart operations and automation. Growing faster means using tools that manage more work, yet still keep expenses steady and output high. By spotting what drags, teams find ways to handle routine jobs through tech, smooth out daily steps, leave room for growth, while building systems that adjust easily when needed. What comes out is a company that can rapidly increase production yet still stay quick on its feet and keep standards high a quiet strength inside, not often shared outside, but essential for pushing forward without hiccups.

Dominating a Niche: Becoming the Unrivaled Expert

Photo by Melanie Deziel on Unsplash

Success often follows when companies zero in on one area they truly know. Focusing where others spread themselves thin can build real strength over time. Think of those moments a small group learns about you because you speak directly to their needs. Your reputation grows not by shouting but by sharing ideas people actually read. Connection forms slowly, often through quiet efforts like webinars or honest blog posts. Value shows up not in grand promises but in how smoothly things work when you’re involved. Leadership isn’t declared it’s noticed by those who’ve been challenged before. Starting deep helps create real influence, where people speak up no flashy ads needed. Growth sneaks forward quietly, fed by those who’ve seen it work close up.

When mixed just right, each approach builds something stronger over time. Growth leaps forward not by shouting from rooftops, but through steady, thoughtful decisions piling up results behind the scenes.

On April 15th, 1912- 113 years ago today- the RMS Titanic collided with an iceberg in the North Atlantic Ocean about 300 miles east of Newfoundland at 2am. After the hull was breached, the ship began taking on water and eventually broke into two pieces.

For a ship of 2,200 passengers, only 20 lifeboats were available. Over 1,500 people died in the icy waters, with the most casualties coming from third class passengers who received lifeboat access last as well as first and second class men who obeyed the “women and children first” policy.

Captain Edward Smith, a British naval officer and veteran of International Mercantile Marine, stayed aboard as the ship sank and died.

The Titanic’s wireless radio operator sent out distress calls that were received by nearby ships. About two hours later, the RMS Carpathia arrived, rescuing whatever passengers they could find and bringing them to New York City.

At least that’s the official story.

Here’s three alternative theories involving what happened that night- one involving JP Morgan and the Federal Reserve, one involving International Mercantile Marine and insurance fraud, and another with German U-Boats, each supported by evidence and the historical record at the time.

Recommended video via VideoNest

Before you start conspiring…

On the anniversary of one the worst maritime disasters in history, the Ticker History Shop is offering International Mercantile Marine stock certificates from 1917, five years after the Titanic’s sinking.

Every stock has a story, and every certificate is history in your hands.

Now, let’s get to the conspiracies.

International Mercantile Marine (Titanic) Company Stock Certificate from 1919

Mention this article for 10% off your first order in the shop!

Conspiracy Theory #1: JP Morgan Wanted To Kill His Rivals

In 1907, the U.S. economy almost collapsed due to a massive banking panic. Already in a recession, the country was hit hard when United Copper Company was exposed for massive fraud. Stocks crashed, banks failed, and millions lost their jobs after investors lost confidence in the system and started a nationwide bank run. Without a central bank, with government was in trouble.

Enter John Pierpont Morgan.

Morgan, using personal funds along with those of other financiers he recruited, organized the largest private sector bailout in history. Larger banks absorbed smaller ones, others were bailed out, and the system was saved. When the New York Stock Exchange was about to close, he deposited $25 million into their reserves to keep it in operation.

Congress created the National Monetary Commission, the precursor to the Federal Reserve, to figure out how to prevent similar problems in the future. Morgan supported the creation- as he would be its first ever Chairman- but his rivals, mainly Benjamin Guggenheim, Isidor Straus, and John Jacob Astor IV, did not, resentful of Morgan's special status and fearful of the competitive advantage he would have over their businesses.

Fast forward five years.

J.P. Morgan financed the Titanic through his company, the International Mercantile Marine Co. (IMM), which owned White Star Lines, the company that operated transatlantic passenger routes.

Morgan had a luxury suite reserved on Titanic, as did Guggenheim, Straus, Astor, and several other prominent industrialists at the time. However, Morgan canceled at the last minute, allegedly to stay in France longer with his mistress.

Morgan's change of plans saved his life; his rivals weren't so lucky. They died that night, which sparked conspiracy theories that he wanted them gone to avoid his confirmation as Chairman of the Federal Reserve.

In all fairness…

While the motive was there, there are other ways to eliminate business rivals that don’t involve the murder of thousands of innocent civilians. Guggenheim, Straus, and Astor were bitter rivals and vehemently opposed Morgan’s appointment as Chairman, but either supported the Federal Reserve or had no opinion on the record at all.

In the end, Morgan was a businessman, and spending millions of dollars and political capital to build a ship meant to sink wouldn’t make political sense.

But wait…

It is extremely suspicious that Morgan made a last minute change of plans to avoid going on the maiden voyage of the crown jewel of his fleet.

Conspiracy Theory #2: It Wasn’t Actually The Titanic

The RMS Titanic was one of three sister ships built by White Star Lines. There was the RMS Olympic, built in 1911, the RMS Titanic in 1912, and the HMHS Britannic in 1915, originally named the “Gigantic” but changed after the disaster.

The Olympic and Titanic were often confused by the public due to their nearly identical appearance. The ships shared construction resources at the Harland and Wolff shipyard in Belfast, Northern Ireland, with workers moving between projects.

In 1911, the Olympic was severely damaged in a collision with HMS Hawke while in port. Conflicting reports give different accounts of the extent of the damage, but an irreparable hull breach was reported.

In what became known as the “Olympic Switch Theory”, JP Morgan and International Mercantile Marine swapped the Olympic and Titanic as part of the biggest insurance fraud scheme in history. Knowing that the broken ship would be too costly to repair and unwilling to write o millions in construction fees, Morgan fixed the Olympic as much as needed and sent it out on its doomed maiden voyage to recoup his losses.

In all fairness…

This one’s a little like the “Fake Moon Landing” theory. The sheer number of people, from Morgan, to his associates, to the construction crew, to the port workers, to the ship’s staff, that would have had to have been in on the scheme is staggering. For everyone to have kept quiet in the years that followed is extremely unlikely.

While the two ships were similar, there were some significant differences, like the Titanic’s enclosed promenade versus the Olympic’s open version.

But wait…

In looking at the construction timelines of the two ships, there is a brief window where the two were close enough that a switch could have been possible which aligns with the damage done in the Olympic’s collision with the Hawke. And if that damage was impossible to repair…

Conspiracy Theory #3: It Was A German U-Boat

A small fast forward after the Titanic to another maritime disaster.

In 1915, the RMS Lusitania was en route from New York to Liverpool. The passenger ship carried close to 1,200 passengers- along with 4,500 rifle cartridges, 2,000 shrapnel shell casings, and other munitions to support the British military in what would become World War I. A German U-Boat fired a torpedo at the ship off the coast of Ireland, and everyone aboard sank along with the war supplies.

Reports of the weapons aboard the ship were suppressed, and the disaster was portrayed as a senseless attack on a civilian vessel, giving the U.S. public support enter the war.

Both the U.S. and British government used the passengers aboard as human shields to protect the shipment. Passenger ships were allowed to carry weapons, but doing so did make them a military target under under maritime law.

This is all part of established historical record. The conspiracy is that the Titanic was engaged in the same Transatlantic weapons exchange as the Lusitania, with one ally supplying another, and a German U-Boat sinking the ship to prevent the shipment.

In all fairness…

The timeline and logistics are murky here. World War I wouldn’t start until two years after the Titanic launched, and the nations weren’t in direct conflict yet. Also, the front of World War I was in Europe, and munitions would need to be transported east across the Atlantic, the direction the Lusitania was traveling. The Titanic, if carrying weapons, would be taking them out of Europe, departing from Southampton, England.

Prior to the sinking of the Lusitania, the German embassy published warnings in U.S. newspapers, telling Americans not to travel on British ships because they could be legitimate targets. This was evidence they had intelligence that the U.S. and England were using passenger ships to transport weapons and wanted to avoid disaster.

But wait…

While WWI wouldn’t start for years later, the U.S. was heavily involved in military actions in Cuba, Nicaragua, Panama, Haiti, and the Dominican Republic. The United States was aiming to expand its footprint in Latin America and the Caribbean and establish a foothold in the region. Had the Titanic been carrying British supplies meant for the U.S., its sinking would have been a major blow.

Let us know what you think in the comments.

Every stock has a story, and no certificate tells a better story than that of International Mercantile Marine.

International Mercantile Marine (Titanic) Company Stock Certificate from 1919

Hold history in your hands- the memory of hundreds of lives tragically cut short by greed, negligence, and the hunt for profits.

Want to learn more about scripophily, the hobby of collecting authentic stock and bond certificates? Check out our intro articles here to get started.

Mention this article for 10% off your first order in the shop!

Stay safe, stay warm, and stay bullish.

Ticker Historians-

We’ve got big news!

Tonight, Tuesday, April 8, Ticker History is going live on Whatnot at 8pm talking about the history behind your favorite companies and selling the best stock and bond certificates we have to offer. Better yet, we’re giving you $15 to join us.

Every stock has a story that you can own, and this your chance.

Imagine eBay meet TikTok, but livestreamed- we’ll be presenting certificates, discussing the history behind each, then giving you a chance to purchase it live!

Pan American World Airways Inc Stock Certificate

Part history lesson, part auction, part entertainment, every stream on Whatnot is unique.

All certificates are vintage and original- if we’re discussing a late 1800’s mining company’s certificate, you’ll be getting a 150 year old piece of paper in your hands. We don’t do reprints.

With over 500 items sold and over 50 five-star reviews, Whatnot is the place to grow (or start!) your scripophily collection.

Sign up for Whatnot using our referral link for $15 to use toward your first purchase. Whether you’re eyeballing late 1800’s railroads, vintage Disney certificates, or something else, we’ll help you get started.

Ready to join the stream? Set a reminder for Tuesday at 8pm, and we’ll see you on Whatnot- don’t forget to sign up using our referral link for $15 in credit!

We want to hear from you!

Let us know what types of companies most interest you- Ticker History wants to be a part of your collection journey, and if you like them, we’ll get them. What do you want to see on Whatnot?

International Mercantile Marine (Titanic) Company Stock Certificate from 1919

I Can’t Make The Stream! How Can I Start My Collection?

This is the question we get asked the most- How can I get started with collecting stock and bond certificates?

Every certificate tells a unique story of a moment in time- a company or city is raising money to create new products, expand its footprint, or hire new people. Each detail, from the aesthetics of the design to the signatures to the serial number (or CUSIP) gives a snapshot of their leadership and the company’s direction.

Stock certificates are collectibles, just like comic books or baseball cards, with the perfect mix of finance, history, and personality.

Ticker History is making it easy for you with our starter packs. Start your journey through financial history with a trusted seller with verified reviews from satisfied customers.

The Monopoly Railroad Starter Pack

Bar trivia question: Can you name all four railroad properties from Monopoly? No cheating.

If you said…

• The Baltimore & Ohio (B&O) Railroad

• The Pennsylvania Railroad

• The Reading Railroad

• The Short Line

This is the pack for you.

Monopoly Railroad Stock & Bond Certificate Bundle - 4x Railroads Included at a Special Rate

The four railroads from your favorite game weren’t just spaces on the board- they were iconic companies that changed the way Americans lived, worked, and traveled, and transformed the country’s landscape.

These stock certificates have an $85 value, but can be yours for $59.99- a 30% discount, with free shipping to the United States included.

It’s an amazing present for the railroad buff, historian, or board game collector in your life. Check out the Monopoly Railroad Starter Pack in the Ticker History Shop.

I Still Can’t Decide!

There’s so much good stuff out there- from bankrupt airlines, to the company that launched to Titanic, to rare Disney certificates- getting started can feel overwhelming.

Visit the Ticker History Shop and get 10% off your first purchase with free shipping in the United States for orders over $30.

New York 5x Starter Pack – Bonds & Stocks from the Empire State

To learn more about scripophily, check out Ticker History’s visit to the National Stock & Bond Show in Washington, D.C. Hear from the experts about what makes the hobby so unique and interesting, and why you should start (or build!) your collection.

Looking forward to seeing you on Whatnot and in the Ticker History Shop!

Happy day after St. Patrick’s Day! ☘️ 

Top of the mornin’ to ya. We’ve had a big week in market history.

• Skype, who had a 20 year head start to prepare for virtual meetings during the pandemic, closed up shop.

• PepsiCo $PEP ( ▼ 0.1% ) announced it would be buying soda line Poppi for $2 billion. Not a bad take after starting on Shark Tank.

• Big news for Elon- Tesla’s $TSLA ( ▲ 3.34% ) cheaper Model Y debuted in China, and SpaceX launched a rescue mission to bring back stranded astronauts on the ISS.

• Gamers rejoiced as Nintendo $NTDOY ( ▼ 1.15% ) announced a follow up to the Switch, the best-selling console ever.

• Gold crossed $3,000 for the first time ever.

Even with market volatility and a selloff, there are plenty of reasons to be optimistic. Stay Bullish.

Pepsi And MJ: The Biggest Celebrity Endorsement Ever📅

In 1983, Pepsi $PEP ( ▼ 0.1% ) signed Michael Jackson to a $5 million advertising deal, the largest celebrity endorsement of its time. 

In trying to attract younger customers away from Coca-Cola $KO ( ▼ 0.67% ) , Jackson re-recorded the lyrics to his songs as part of Pepsi’s “New Generation” campaign, filming full-length music videos that would be turned into commercials. 

During the filming of an ad in Los Angeles, Jackson’s hair caught on fire from being too close to a pyrotechnics display. Jackson suffered second-degree burns and required surgery to repair his scalp. Jackson would reportedly develop an addiction to painkillers after the incident and wear wigs to cover up the scars. 

Jackson would re-sign with Pepsi for $10 million in 1987 which would help support his “Bad” tour. Pepsi would drop Jackson as a spokesman in 1993 after allegations about Jackson were publicly released.

Pepsi Bottling Group, Inc. Stock Certificate Specimen from 1999

Celebrity endorsements had been used for years, with the first recorded promo traced back to Queen Victoria giving Cadbury Chocolates a “royal warrant” in 1854, though none had been as significant or lucrative as Jackson signing with Pepsi.

Want more historical celebrity endorsements? Follow us on Instagram and X at @tickerhistory.

March 19, 1985: Microsoft Releases Windows 1.0 📅

Menus, icons, and scroll bars changed everything.

Forty years ago, Microsoft released the first version of Windows, an extension of the MS-DOS system that had a graphical user interface. Building upon the hardware (but not commercial) success of the Apple Lisa two years earlier, the system let users “see” their files, making PCs more accessible to end users.

The software required at least 256 KB of RAM, two double-sided 5.25” floppy disk drives, and a graphics adapter. Priced at $99, it sold an estimated 500,000 copies with competition from Apple and IBM’s OS/2.

Windows would take off with the release of 3.0 five years later and would make Microsoft the most widely used operating system.

Microsoft Stock Certificate Replica Blank Postcard

March 17, 2002: Arthur Andersen Suffers Enron Fallout 📅

On this day, "Big Five" accounting giant Arthur Andersen was indicted on obstruction of justice charges for shredding documents related to its audit of Enron after news of the scandal broke. Arthur Anderson was convicted three months later.

The firm watched its 90-year history of ethics, trust, and integrity collapse as details emerged of its role in the Enron Scandal. The firm was ordered to surrender its licenses and laid off 28,000 employees. The "Big Five" became the "Big Four" overnight.

Joseph Berardino, chief executive of Arthur Andersen, testifying before a House committee in 2002.

The conviction was overturned on appeal three years later, but it was too late- Andersen’s reputation was destroyed and it could never recover. Though nobody from Andersen went to jail, Enron’s executives weren’t so lucky.

Jeff Skilling, CEO Sentenced to 24 years in prison, released in 2019.

Andrew Fastow, CFO Sentenced to six years in prison, released in 2011.

Kenneth Lay, Chairman Convicted in 2006, but died of a heart attack before sentencing.

Playboy "Women of Enron" Magazine Edition 2002

March 19, 1966: TI Makes A Handheld Calculator📅

Remember the TI-84 graphing calculator you used in AP Calculus?

Texas Instruments debuted the world's first electronic handheld calculator, called the “Cal Tech” 59 years ago this week. Prior to this, someone trying to do math at home needed a machine the size of their desk to get enough computing power to do simple calculations. Led by engineer Jack Kilby, the Cal Tech would create a $1.2 billion industry in less than ten years.

Texas Instruments engineer Jack Kilby holding up the Cal Tech prototype from 1966 with the TI-80 graphing calculator, its advanced descendent.

The first handheld calculator available to consumers was the Canon Pocketronic in 1970 which sold for $150, though other companies would develop their own models and drive prices down quickly.

Businesses and corporations who could afford to buy handheld calculators for their staff saw their productivity surge, and the invention changed the face of finance, business, and education going forward.

Transitron Electronic Corporation (The Transistor Tycoon) Stock Certificate from 1969

Looking Forward 📅

That’s old news. What can we look forward to this week?

• Nike $NKE ( ▲ 3.01% ) , FedEx $FDX ( ▼ 0.47% ) , and Carnival Cruises $CCL ( ▲ 3.39% ) release earnings this week, giving us insight into LeBron James’ marketing, package delivery, and boomer vacations.

• NVIDIA’s $NVDA ( ▲ 3.8% ) GTC 2025 conference is underway, with CEO Jensen Huang expected to highlight Nvidia's advancements in artificial intelligence.

• The FED makes an interest rate decision on Wednesday, presumably by throwing darts at a board.

• Is anyone watching Severance???

The market is crashing and it’s index rebalancing season- in with the hot new names, and out with those not cool enough.

Congratulations to DoorDash $DASH ( ▲ 2.47% ) , TKO $TKO ( ▼ 0.05% ) , and Hims $HIMS ( ▲ 0.99% ) for making their way into the S&P 500.

If anyone can explain what Palantir $PLTR ( ▲ 2.52% ) does, we’d love to hear it-they’re now in the S&P 100. Gold stars for you, Peter Thiel.

Getting included in a major index is great news for shareholders- institutional investors need to buy the stock to include in their ETFs and mutual funds, and it can cause a buying frenzy. See what happened after Tesla’s $TSLA ( ▲ 3.34% ) in 2020.

Let’s take a look at the major events from this week in business history.

March 15, 1985: The First Ever Domain Name is Registered 📅

If you want to buy a book, just go to 108.174.10.10. That’s the IP address for Amazon- before the Domain Name System (DNS) started, that’s how you’d have to do it.

Forty years ago, Massachusetts computer manufacturer Symbolics changed the way the internet worked by registering symbolics.com, the first ever internet domain name. At the time, the internet was used only by researchers and the government who typed in IP addresses to visit the sites they wanted. Symbolics’ move to text-based addresses was the first step to making the internet accessible to a wider audience and lead to mass adoption.

The original IP address system, called IPv4 (Internet Protocol Version 4), had a 32-bit system that allowed for 4.3 billion unique addresses. As the internet took off, those began running out, and changes were made in 1998 to allow for a near limitless number of websites.

Domain name registration is a big business to this day, with companies paying steep premiums for more desirable domain names. In the late 90’s and early 2000’s, domain name “squatting” came into fashion, with savvy users buying up dozens of one word domain names in hopes of reselling them at steep profits.

Today, symbolics.com no longer belongs to the original company, but the page remains active as an artifact of internet history.

The longest continuously running website- happy 40 years, Symbolics!

March 13, 1986: Microsoft IPOs 📅

Microsoft $MSFT ( ▲ 2.27% ) held its IPO on the NASDAQ stock exchange at a price of $21 per share giving Microsoft a market capitalization of around $777 million. The IPO turned Microsoft co-founder Bill Gates and several early employees into millionaires overnight.

Gates partnered with Goldman Sachs for his IPO, putting Microsoft in the same category as Lotus and Ashton-Tate as the three biggest software giants.

Goldman Sachs originally suggested an offer price of $17-20, and Gates countered that he wanted to offer it lower- $16 per share- to guarantee that the underwriters would sell every share. After seeing the demand from institutional and retail investors, they agreed on $21, and the stock closed at $27.75.

Microsoft Stock Certificate Replica Blank Postcard

March 16, 2008: A Dark Day For Bear Stearns 📅

JPMorgan Chase $JPM ( ▼ 0.82% ) agreed to acquire Bear Stearns for just $2 per share in a rescue deal during the financial crisis. Bear Stearns, once a major investment bank, faced a liquidity crisis after its hedge funds collapsed due to exposure to subprime mortgage-backed securities.

The deal was facilitated by the U.S. Federal Reserve, which provided a loan to JPMorgan to ensure the acquisition went through and prevent further panic in the markets. Just prior to this offer, Bear Stearns' shares were worth over $170.

Bear Stearns, in business since 1923, was no more.

Chase Manhattan Bank Stock Certificate from the 1960s

March 12, 2001: The Dot Com Bubble Bursts With Webvan 📅

Webvan was way ahead of its time- an early internet grocery delivery service started in the late 90’s promising quick delivery times. The company expanded quickly, investing in warehouses and delivery trucks, but had a tough time with actually attracting customers not quite ready for DoorDash $DASH ( ▲ 2.47% ) .

A Webvan delivery truck waiting for customers who unfortunately never came.

The company was valued at over $1 billion at its peak, but declared bankruptcy on March 12, 2001, as it failed to reached profitability. In looking back on the Dot Com Bubble, the bankruptcies of Webvan and Pets.com are the two strongest examples of the times.

Right idea, wrong time.

Webvan Stock Certificate from 2001

Going Private 📅

Last week, Walgreens $WBA ( ▲ 0.5% ) announced that it would be going private. In a $10 billion deal with private equity firm Sycamore Partners, the pharmacy chain would receive $11.45 per share, or 8% over the stock’s price.

Walgreens had been a public company since 1927.

The 100-year old pharmacy chain has come across some tough times. Valued at close to $100 billion less than 10 years ago, Walgreens has had a tough time competing with Amazon, Walmart, and online pharmacies. As a result, their debt obligations have risen to over $30 billion, and the store announced they’d be closing down over 1,200 stores over the next three years to cut costs.

Walgreens stock was close to $100 per share at its peak in 2015.

A once-proud company getting bought out by private equity during tough times? It’s a tale as old as time.

A funny twist to the story- in 2022, Walgreens entered a $200 million dollar partnership with startup Cooler Screens to replace its refrigerator doors with digital displays. The screens were glitchy and customers hated the display, and Walgreens tried to end the partnership. Cooler Screens responded by “bricking” the displays, showing blank screens.

Wrigley Pharmaceutical Company Stock Certificate (Signed by W.W. Wrigley) from 1928

Looking Forward 📅

That’s old news- what can we look forward to this week?

• Oracle $ORCL ( ▲ 4.74% ) , Adobe $ADBE ( ▼ 1.83% ) , and Volkswagen $VLKAY ( ▼ 0.99% ) release earnings.

• Consumer Price Index (CPI) data will be released on Wednesday, giving us an idea of how inflation is changing month over month and annually.

• Amplitude $AMPL ( ▲ 4.2% ) , WEX $WEX ( ▲ 1.24% ) , and Consolidated Edison $ED ( ▼ 0.21% ) hold investor days.

• Black Bag, directed by Steven Soderbergh and starring Michael Fassbender, is released in theaters. Looking forward to this one.

• March Madness is right around the corner with conference tournaments and Selection Sunday coming up. Good luck to your school.

Welcome back, Ticker Historians.

What happened last week? A lot, actually.

• President Trump met with Ukrainian President Zelensky to sign a deal to aid their war effort, and it went as well as a WWE contract signing.

• A glitch in the Instagram algorithm promoted NSFW content of murder and violence. Whoops?

• The FAA announced it will begin partnering with Elon Musk’s Starlink as its main service provider.

• OpenAI debuted ChatGPT- 4.5, described by CEO Sam Altman as a “giant, expensive model”.

• Jeff Bezos’ flight company Blue Origin announced a planned all-female space flight featuring Katy Perry and Gayle King for some reason.

In January, we visited the 24th Annual National Stock & Bond Show in Washington, DC to learn about the hobby of Scripophily – the collecting of historical stock and bond certificates to meet dealers and explore their collections. Check out our YouTube channel for a recap from the show!

As always, stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

A quick word from our sponsor.

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March 3, 1911: The DoJ goes after General Electric    📅

In 1911, The Department of Justice almost killed off General Electric.

Almost.

As part of larger antitrust efforts, President William Taft’s DoJ sued General Electric to break them into smaller companies and end their chokehold on the electrical industry.

A political cartoon from 1910 shows monopolistic practices affecting employees and consumers.

GE $G had a near monopoly on the industry at that point, restricting competition, controlling the supply chain, and price fixing. The Sherman Antitrust Act of 1890 served as the foundation for the DoJ’s case.

It ended in a settlement- GE was allowed to continue as a single company, but had to license out its patents to other companies to allow for competitors to enter the industry.

In an ironic twist, the settlement actually benefitted GE- licensing its patents was a major source of revenue for the company as the industry evolved over the coming decades.

Later in 1911, the U.S. Supreme Court would rule that John D. Rockefeller’s Standard Oil Company was also in violation of the Sherman Antitrust Act and was broken up into 34 smaller companies, including what is now known as ExxonMobil $XOM ( ▼ 2.23% ) , BP $BP ( ▼ 0.58% ) , and Chevron $CVX ( ▼ 2.48% ) .

The Standard Oil Company (Ohio) Bond Certificate

This Week In Ticker History  📅

March 3, 1989 Time Inc. and Warner Communications announced plans to merge, forming Time Warner. This would set the stage for America Online and Time Warner merging in 2000, one of the largest (and worst) mergers in history.

The newly formed corporation’s headquarters.

Time, Incorporated Stock Certificate Specimen from 1969

March 6, 1980 Polaroid CEO and founder Edwin H. Land, resigned in shame after massive financial losses from the Polavision video camera system. The Polavision video format was a distant third to VHS and Betamax, requiring a dedicated device to watch the footage. Consumers, however, did not dedicate.

Polaroid founder and CEO Edwin H. Land holding an instantly developed photo of himself in the 1970’s.

Want to see more CEOs who resigned under duress? Follow us on X and Instagram at @TickerHistory.

March 4, 1989 Eastern Airlines pilots, flight attendents, and baggage workers walked off the job to protest pay cuts. The airline subsequently filed for bankruptcy protection five days later, eventually closing down in 1991.

Pilots walking through New York’s JFK airport show their displeasure with Eastern management.

United Airlines Bond Certificate From 1960s $UAL ( ▲ 2.1% )  

March 9, 2021 Microsoft $MSFT ( ▲ 2.27% ) completes its acquisition of video game maker Bethesda, for $7.5 billion. This brought properties like Doom, Fallout, and Elder Scrolls under the Microsoft and Xbox umbrella.

Doom Eternal brought in over $330 million in revenue for Bethesda one year before the purchase

Microsoft Stock Certificate Replica Blank Postcard

Every Stock Has A Story 📅

Thousands of people across the country were getting tuberculosis and typhoid from contaminated milk.

To save their industry, dairy farmers needed to come together.

The Co-Operative Pure Milk Association Inc, Stock Certificate from 1920s Unissued

The Co-Operative Pure Milk Association was a coordinated effort by Midwestern dairy farmers to create a unified set of hygeine standards to raise consumer confidence in milk safety.

Though pasteurization had been invented 50 years prior, it wasn’t readily available for small farms in remote areas. In banding together to agree on how to collect, store, and ship their milk, customers began to trust what they were drinking.

The company that is known today as Land O’Lakes was originally a rival dairy farmer collective to the Co-Operative Pure Milk Association.

Looking Forward 📅

That’s old news. What can we look forward to this week?

• Costco $COST ( ▼ 0.62% ) and Best Buy $BBY ( ▲ 1.99% ) report earnings, giving us a look into how the retail industry is responding to inflation and threats of tariffs.

• On March 7, the unemployment rate and average hourly earnings reports are released.

• Logitech $LOGI ( ▲ 1.62% ) and Zscaler $ZS ( ▲ 0.05% ) hold investor days next week, making ARK Funds CEO Cathie Woods antsy.

• White House Press Secretary Karine Jean-Pierre is schedule to appear on The View, her first major interview since taking the role.

• Is Lady Gaga still relevant? Guess we’ll find out- she has a new album dropping next week.

Last month, we visited the 24th Annual National Stock & Bond Show in Washington, DC to learn about the hobby of Scripophily – the collecting of historical stock and bond certificates to meet dealers and explore their collections. Check out our YouTube channel for a recap from the show!

Let’s take a look at what happened in the last week.

• JP Morgan Chase CEO Jamie Dimon was recorded ranting against work from home, then issued a five-day return to office mandate.

• Elon Musk, head of the Department of Governmental Efficiency, floated the idea of giving taxpayers each a $5,000 stimulus from the pool of money he saved.

• Apple unveiled the new iPhone 16, with a lower price and enough power to run AI in your pocket.

• Fed Chairman Jerome Powell put the expected rate cut announcement on holdto see the impact of tariffs on inflation.

  

  “Don’t tug on Superman’s cape” for 2025.

We’re certainly living in interesting times. But with the S&P 500 at record highs and gold nearing $3,000 per ounce, there are definitely reasons to feel good. Stay Bullish.

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Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

The Biggest Leveraged Buyout In History 📅

In 1989, private equity firm Kohlberg Kravis Roberts (KKR) completed a $25 billion leveraged buyout (LBO) RJR Nabisco, the largest in history at the time.

KKR’s takeover of RJR Nabisco would come to symbolize corporate greed in the 1980’s, with business school case studies and the classic book “Barbarians At The Gate” written about it.

In an LBO, the acquirer borrows money to purchase the target, using its future cash flows to secure the loan.

RJR Nabisco CEO Ross Johnson, known for his lavish spending on corporate expense accounts, proposed a management-lead buyout at $75 per share with financing from Salomon Brothers.

KKR’s Henry Kravis, who had a relationship with Johnson, was angry he was left off the initial proposal. He countered with an offer at $109 per share, valuing the company at an unheard of $31.4 billion. Financing for the deal came from junk bonds issued by Michael Milken’s Drexel Burnham Lambert.

RJR Holdings (Nabisco / Tobacco Company), Inc Stock Certificate

The deal was described at the time as “ill-advised” by a “corporate kleptocracy”, and had disappointing results. Under new ownership, the company couldn’t meet the original cash flow expectations and struggled to meet its debt service. Just a few years later, KKR began selling off assets to recover its equity.

This Week In Business History 📅

February 26, 2004 Comcast launches a hostile takeover bid for The Walt Disney Company, offering $54 billion in stock and assuming $12 billion in Disney’s debt. The offer would create a media giant by combining Comcast’s cable distribution network with Disney’s content. Disney’s board, led by CEO Michael Eisner, rejected the bid, arguing it undervalued the company, and Comcast faced strong resistance from Disney shareholders. By April 2004, amid public scrutiny and declining stock prices, Comcast withdrew its offer.

Headlines in 2004 describe Disney CEO Michael Eisner as extremely hostile in his response to Comcast’s offer. Despite Disney’s struggles, Eisner was determined to turn things around.

Walt Disney Productions Stock Certificate (Feat Walt & Mickey Mouse) from 1967 - Unissued

February 27, 1998 Apple discontinues the Newton personal digital assistant after selling only 200,000 units. The device was hyped for its advanced handwriting recognition but struggled with accuracy issues, and the base price tag of $900 didn’t help. In 1995, The Simpsons roasted Apple for the Newton’s failure.

PDAs like the Apple Newton and Palm Pilot were early predecessors to today’s cell phones.

Think Different? 📅

They can’t all be hits. For every innovative gadget that redefines how we live and work, Apple has had a dud.

Maybe a little too different.

Apple Computer Stock Certificate 1980s Postcard

March 1, 1827 The Baltimore & Ohio Railroad is chartered as the first U.S. railroad company to provide transportation for both freight and passengers. Construction began in 1828, with Charles Carroll, the last surviving signer of the Declaration of Independence, laying the first stone. During the Civil War, the B&O transported troops and supplies, and later fueled the Industrial Revolution by connecting coal mines and steel mills. It was merged into CSX Transportation in 1987.

The B&O Railroad was an iconic piece of American history memorialized as one of the original four Monopoly railroads along with Reading, Pennsylvania, and Short Line.

Baltimore & Ohio (B&O) Railroad Company Stock Certificate from 1950s/60s

Every Stock Has A Story 📅

One of our favorite hobbies is looking up the history behind some of the items that come across our desk.

What’s up with this early 50’s French wine stock certificate?

Vielle Cure De Cenon (French Wine) Stock Certificate from 1952

Vielle Cure de Cenon was an herb liquer produced in a monastery outside of Bordeaux, France starting in 1909.

Bordeaux was occupied by Nazi forces during World War II, with the monastery and many other city buildings used as supply and logistics centers. Under strict rationing rules and shortages, alcohol was a hot ticket item, and a black market developed for Vielle Cure de Cenon.

Production stopped in 1986, and sealed bottles remain an extemely popular collector’s item to this day.

Looking Forward 📅

That’s old news. What can we look forward to this week?

• Zoom releases earnings on 2/24, letting us know how serious the push for ending work from home is affecting the bottom line.

• Chipotle’s “Burrito Season” hiring initiative starts, as the company looks to add 20,000 employees. As far as fast food jobs go, Chipotle is considered one of the best, with competitive pay, benefits, and management pathways.

• Amazon is hosting a product event on 2/26 in NYC where it is expected to debut a more powerful version of Alexa.

• The Oscars are on Sunday- who do you like for best picture,

Welcome back, Ticker Historians.

Oh, you’ve got President’s Day off?

Can’t relate.

We’re in the trenches. Grinding. Unbothered. Happy. In our lane. Focused. Flourishing.

As always, stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

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Who Says You Can’t Go Home? 📅

Last week, Elon Musk offered to buy OpenAI from CEO Sam Altman for $97.4 billion. Altman declined the offer, joking (possibly) that he’d rather buy Twitter from Musk for $9.74 billion.

In 2015, Musk and Altman co-founded OpenAI as a nonprofit, though Musk left over disagreements over the direction of the company and funding sources. He founded a competing startup, xAI, in 2023.

A founder or CEO leaving a company only to return later? It’s not as rare as you think. Let’s take a look.

Steve Jobs and Apple

Steve Jobs co-founded Apple in 1976, but was forced out in 1985 over a power struggle with the board. Jobs would go on to found NeXT, a competing computer business. In 1997, Apple acquired NeXT for $439 million, bringing Jobs back to the company as an advisor. He would become CEO later that year.

Mark Rampolla and Zico

Mark Rampolla, who founded Zico Coconut Water in 2004, sold it to Coca-Cola in 2013 for $200 million. In 2021, after Coca-Cola discontinued Zico, he bought it back for less than half of the price he sold it for.

Howard Schultz and Starbucks

Howard Schultz was chairman and CEO of Starbucks for three separate stints: 1986 to 2000, 2008 to 2017, and 2022 to 2023. During his absences, Starbucks saw declining revenues and had corporate cultural issues. Schultz was called in to fix the mess.

Bob Iger and Disney

Bob Iger became CEO of Disney in 2005, transforming the brand with acquisitions of Pixar, Marvel, and Lucasfilm, while also launching Disney+ in 2019. He stepped down in 2020, leaving Bob Chapek as his successor. Chapek struggled to navigate Disney through COVID and a contentious political landscape, and was removed in 2022. Iger returned to lead Disney again.

Walt Disney Stock Certificate Postcard Replica - Blank

Not Elon’s first time doing business with a company he left…

Elon Musk and PayPal

In October 2000, Elon Musk was ousted as CEO of x.com, which later became PayPal, due to disagreements over which back-end system to use (Musk preferred Windows, his co-founders liked Unix). In 2017, Musk repurchased the x.com domain from PayPal, saying it had great sentimental value for him. He would later turn x.com into Twitter, or vice versa.

This Week In Ticker History  📅

February 23, 2011 Apple introduces the new MacBook Pro as the first computer to use Thunderbolt data transfer technology. The Thunderbolt 1 portal offered speeds up to 10 Gbps, twice as fast as USB 3.0, allowing for faster file transfers and higher-resolution external displays.

February 17, 1934 Europe’s first-ever high speed train runs between Berlin and Hamburg in 2 hours and 18 minutes. Named the “Fliegender Hamburger” (Flying Hamburger), it reached a top speed of 99 mph on its journey. While high speed rail today runs at speeds over double this, this was a huge moment for the beginning of Europe’s interconnected railways of today.

Philadelphia Traction Company Stock Certificate (Now SEPTA) from 1930s

February 21, 2011 Borders, the much-beloved bookstore of Millennial youth, filed for Chapter 11 bankruptcy protection with $1.29 billion in debt and $1.27 billion in assets. The rise of e-books and online competition from Amazon marked the end of the bookstore’s 40 year run as owners liquidated all assets.

February: The Month Of Bankruptcies 📅

It seems that February is a popular month for companies to declare bankruptcy.

Why might that be?

February is usually the month where public companies release their Q4 earnings from the previous year. For a retail business, this includes holiday sales, and if expectations aren’t met, it can be a dire sign of things to come- or a sign to close up shop.

Let’s look at some other companies that declared bankruptcy during the month of February.

Millennials in shambles.

Mattel Inc Stock Certificate (Toy Company) $MAT from 1970s

Every Stock Has A Story 📅

In 1935, New York State had a major problem with its trains.

Railroad tracks ran across pedestrian streets, requiring cars to stop to let them pass. These intersections, called “railroad grades” lead to frequent accidents with cars and people, with an alarming number of fatalities.

The state government set out with an ambitious large-scale infrastructure project to remove all railroad grades, either by re-routing the trains or elevating tracks. Partially funded by President Roosevelt’s New Deal program, the state issued “Elimination of Railroad Grade Crossings” bonds to raise funds to pay for the project.

The project was successfully completed several years later, with accidents down substantially and increased efficiency for both cargo and passenger trains.

Other states followed suit, and being stopped at a railroad grade to wait for a passing train is now (almost entirely) a thing of the past.

Elimination of Railroad Grade Crossings State of New York Bond from 1935

Looking Forward 📅

That’s old news. What can we look forward to?

• Harry Potter and the Prisoner of Azkaban is getting a re-release in theaters, and Captain America: Brave New World hopes to revive the Marvel brand.

• Severance, a sci-fi show on Apple TV+ about office workers who have had their memories erased, returns for season two.

• Meme stock Carvana releases earnings on Wednesday, with Walmart following up on Thursday.

• On Wednesday, the U.S. Leading Economic Indicators (LEI) report comes out, forecasting the direction of the economy for the next six months.

The more things change, the more they stay the same.

In 2025, we have a significant push towards organized labor across industries- just like we did in the early 20th century.

We have debates over sustainable and clean energy sources- just like we did in the 70’s.

We have economic nationalism and tariffs- just like we did in the 30’s.

We have a President drastically trying to reduce the size of the Federal government- just like Ronald Reagan and Thomas Jefferson.

History doesn’t repeat itself, but it sure does rhyme.

Life is good. Stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

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February 16, 1937: U.S. Steel Creates The 40-Hour Workweek 📅

Since its creation in 1901, U.S. Steel maintained a hardline anti-union stance. Andrew Carnegie, J.P. Morgan, and Charles Schwab had zero tolerance for organized labor, with aggressive union-busting responses that sometimes turned violent.

With new leadership came a new approach.

Under the watch of Chairman Myron C. Taylor in 1937, U.S. Steel’s recognized the Steel Workers Organizing Committee (SWOC), the most significant development in labor relations at the time.

Myron C. Taylor, Chairman of U.S. Steel, on the cover of Time in 1929.

Leaders of SWOC outside a union hall.

After intense labor struggles during the Great Depression, workers faced poor conditions, low wages, and limited bargaining power. After a series of strikes, U.S. Steel signed an agreement with the SWOC, granting union recognition, improved wages, and a 40-hour workweek. This agreement not only covered the approximately 225,000 workers employed by U.S. Steel at the time but also served as a blueprint for labor relations across the steel industry.

Why did U.S. Steel give in?

Money. In the later years of the Great Depression, steel prices were down and margins were thin. U.S. Steel couldn’t afford a lengthy and costly worker strike shutting down production and needed their employees back on the line as quickly as possible.

U.S. Steel workers strike outside a Cleveland plant in 1935.

A pamphlet distributed by SWOC about organizing.

Garment workers at Woolworth fight for a 40-hour workweek in the 1940’s.

The 40-hour workweek became the standard for unions across the country, with workers in other industries such as coal, agriculture, and railroads following suit. With the support of an industry leader like U.S. Steel, workers and their unions were empowered nationwide.

United States Steel Corporation Stock Certificate from 1940s

This Week In Ticker History  📅

February 12, 2014 Facebook acquired international messaging service WhatsApp for $19 billion, marking one of the largest tech acquisitions in history. At the time of the purchase, WhatsApp had over 450 million monthly active users, with 70% of them using the app daily. The acquisition fit Zuck’s mission of prioritizing user growth first and monetization second.

February 14, 2005 The domain “youtube.com” was registered on by Steve Chen, Chad Hurley, and Jawed Karim, all former employees of PayPal. YouTube's first-ever video, "Me at the zoo", was uploaded by Karim in April 2005. Within a year, YouTube became one of the fastest-growing websites, attracting millions of users before being acquired by Google for $1.65 billion in 2006.

Google Stock Certificate Replica Postcard, available in the Ticker History shop

February 12, 1870 The Pennsylvania Steel Company was incorporated in 1866 as one of the first steel manufacturers in the United States to use the Bessemer process, producing over 200,000 tons of steel annually. Facing financial difficulties, the company would be bought by Bethlehem Steel in 1916, which would eventually file bankruptcy in 2001.

CF&I (Colorado Fuel and Iron) Steel Corporation Stock Certificate from 1969

February 11, 2011 Microsoft and Nokia announce a partnership to combine Nokia's phone hardware with Microsoft's Windows Phone operating system to challenge dominant players like Apple and Google in the smartphone market. The partnership struggled due to slow adoption of Windows Phones and stiff competition, leading Microsoft to acquire Nokia's mobile phone business in 2014 for just $7.2 billion.

What’s In A Name? 📅

In 1985, Enron was formed when natural gas pipeline companies Houston Natural Gas and InterNorth merged.

CEO Kenneth Lay paid consulting firm Lippincott & Margulies $750,000 to come up with a name and branding for the combined entity.

In February 1986, Lay met with employees to announce the newly named company as “Enteron”.

He was widely criticized for the name. Why?

Enteron is the medical name for the human digestive system, specifically the part containing the intestines.

A picture of the human enteron.

Everything worked out well in the end.

A press release was issued just one month later rescinding the Enteron proposal and officially naming the company Enron.

An expensive mistake by the consultants.. Luckily, nothing bad ever happened to Enron after that.

Enron Corp Stock Certificate from 2000s era (Rare & original)

Playboy "Women of Enron" Magazine Edition 2002

Looking Forward 📅

That’s old news. What can we look forward to this week?

• Valentine’s Day is Friday, don’t get caught picking up chocolates from the gas station because you forgot a gift.

• McDonald’s has earnings on 2/10, and both AMD and Strategy (formerly MicroStrategy) have earnings on 2/13.

• White Lotus season 3 debuts on HBO and Max.

• With the NFL season over, we’ve got College Basketball, NHL, and the NBA taking center stage.

Are you a ChatGPT, Claude, or Perplexity user? Maybe you prefer DeepSeek (and don’t care about data privacy)?

Choosing an LLM in 2025 is like choosing…

… a video game console in 00’s (Playstation all the way)

… choosing a long-distance phone provider in the 90’s

… a video format (VHS vs. BetaMax) in the 70’s and 80’s

… a television in the 60’s

… a dishwasher in the 50’s

… a music format in 40’s (33, 45, or 78 rpm vinyl?)

… a radio in the 30’s.

History doesn’t repeat itself, but it sure does rhyme.

Life is good. Stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

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February 4, 1887: The Interstate Commerce Act Changes Railroads Forever📅

The American economy in the late 1800’s was booming.

Railroads crossing the country allowed for goods to be shipped further and faster than ever before, and businesses and railroad owners reaped the benefits.

It wasn’t good for everyone, though.

New York Central Railroad Company Stock Certificate from 1964

The Cleveland, Cincinnati, Chicago and St Louis Railway Company Bond for $1000 from 1893

Railroad companies often engaged in price gouging, discrimination in freight charges, and monopolistic behaviors. Small businesses and farmers faced higher shipping costs, as railroads would give preferential rates to larger companies or those who could provide “influence” (money).

Regulation had been attempted at the state level as early as 1871, though states weren’t able to enforce action over interstate commerce.

A political cartoon from the early 1880’s showing railroad owners ignoring the needs of their customers.

The Interstate Commerce Act of 1887 established the Interstate Commerce Commission (ICC), the first federal agency designed to regulate private industry in the United States. The ICC had the authority to oversee railroad rates and practices, ensuring they were "just and reasonable."

This was the first time the federal government took direct action to regulate a specific industry and established precedent for government intervention in other industries in the years that followed.

The seal of the Interstate Commerce Commission, created in 1887.

The original bill, signed by President Grover Cleveland, passing the Interstate Commerce Act.

Nearly 70 years later, the Interstate Commerce Act would be the inspiration for the Federal Aid Highway Act, creating interstates across the country to facilitate trade.

This Week In Ticker History 📅

February 3, 2005 Amazon announces “Prime”, a membership program offering unlimited two-day shipping for an annual fee of $79. Prime redefined customer expectations for speed and convenience in online shopping and created a loyal customer base.

Amazon CEO Jeff Bezos in 2005 after ten years in business.

February 6, 2018 SpaceX successfully launches the Falcon Heavy, the world’s most powerful operational rocket at the time, from Kennedy Space Center in Florida. The mission carried Elon Musk’s Tesla Roadster into space, complete with a mannequin named “Starman” seated inside. Last week, astronomers at Harvard declared they had discovered a new asteroid. It turned out to be the Tesla Roadster that was launched into space almost seven years earlier to the day.

The Falcon Heavy launch was a landmark moment in private space travel.

February 7, 2006 Google Maps is officially launched as a web-based application providing interactive maps and driving directions. By 2008, it had introduced Street View, introducing navigation with panoramic imagery, and by 2012, it had mapped over 28 million miles of road in 194 countries.

The original Google Maps site in 2006.

February 4, 2004 Facebook was founded by Mark Zuckerberg and his college roommates at Harvard University, initially as a social networking site called "TheFacebook" for Harvard students. Within a year, it reached one million users.

The first ever profile on TheFacebook from 2004, Zuck himself.

February 9, 1901 J.P. Morgan acquires Andrew Carnegie’s steel empire for $303 million, marking the start of United States Steel Corporation as public company. This deal cemented Carnegie’s legacy as one of the richest men in history, with his fortune estimated at $475 million at the time, equivalent to over $14 billion today.

Portraits of Andrew Carnegie, right, and J.P. Morgan, who would respectively build and acquire the first billion dollar company in the world, U.S. Steel

February 8, 1971 The NASDAQ market opens as the world’s first electronic stock exchange, designed to offer a more efficient alternative to traditional trading floors. By 2023, NASDAQ had grown to include over 3,000 listed companies, with a combined market capitalization exceeding $20 trillion, and is considered the global benchmark for the tech sector.

A New York Times article breaking the news of the NASDAQ opening.

A Good Man In The Mines 📅

Mining in the early 1900’s was an exploitative business.

A mining strike in the 1910’s.

Employees worked long hours, had to fill daily quotas, and were paid in scrip- essentially company gift cards- rather than cash wages. Owners were notorious for taking advantage of their employees, and relationships between workers and management were tense.

Jerome Day was different.

A portrait of Jerome Day from the 1930’s.

Day started as a union miner in Idaho and, alongside his brother Harry, claimed the Hercules Mine in Burke, Idaho. A former union member rising to ownership was no small feat, and his experience on the front lines defined his approach to leadership.

His employees were paid fair wages, given regular schedules, and paid in cash rather than company scrip. Day’s mines became some of the most attractive workplaces in the region, attracting top talent.

Tamarack & Custer Consolidated Mining Company Stock Certificate from Idaho 1916 Signed by Jerome Day

Jerome Day’s Copper King Mining and Smelting Co (Idaho) Stock Certificate from 1919

The success of Day’s mines helped him establish other mines around the region, eventually becoming president of the Idaho Mining Association and the President of the Moscow (Idaho) State Bank.

Jerome Day remains such a beloved figure that the town of Jerome, Arizona celebrates “Jerome Mining Days”, where residents decorate the town to look like it did in the 1920’s and celebrate it’s mining history.

Jerome residents celebrate Jerome Mining Days.

A picture of Jerome, Arizona at the turn of the century.

A man making history by being nice?

It the mining business, it was a big deal.

Looking Forward 📅

That’s old news. What can we look forward to this week?

• Chiefs vs. Eagles in the Super Bowl again? Two of the most disliked teams square off for the second time this Sunday, with the country letting out a collective groan.

• Earnings season is in full effect, with Alphabet releasing earnings on February 4.

• The FED releases the Consumer Credit Report on February 6, detailing changes in American spending habits. How much was that DoorDash service charge again?

• If you’re a fan of railroads, mining, and the Old West, check out American Primeval on Netflix.

• Valentine’s Day is next week, don’t get caught picking up chocolates from the gas station because you forgot a gift.

Welcome back, Ticker Historians.

We’ve got a new (old) President, banks reporting record earnings, and FDA approval for Zyn nicotine pouches.

We’ve lost Tik Tok. Fair trade?

Good luck to Ohio State and Notre Dame tonight, we just hope both teams have fun.

As always, stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

Atlantic City, 1981: Trump and Hugh Hefner Go To War 📅

In the early 80’s, real estate developer Donald Trump battled Playboy magazine publisher Hugh Hefner over Atlantic City casino licenses.

There were a limited number to go around, and both billionaires wanted a piece.

Trump poses for a New York Times feature story in 1980.

Hefner with his then-girlfriend Sondra Theodore in 1981.

Hefner had a head start, opening the Playboy Hotel in Atlantic City as a themed destination resort in 1980 and immediately applied for a casino license. His bid was rejected on April 8th, 1982, with the state of New Jersey listing several concerns with Hefner’s lifestyle and business dealings.

Four weeks earlier on March 15, 1982, Trump received his license for a new hotel and casino in Atlantic City. The New Jersey Casino Commission preferred Trump’s clean cut, conservative presentation of Hefner’s more flashy, sex-focused lifestyle. There were also concerns that some of Hefner’s associates were linked to the New York Mafia, a major red flag for the group concerned with the integrity of the casino industry.

Trump Hotels & Casino Resorts Inc, Original and Rare Issued Stock Certificate from 2004 with Donald Trump portrait and printed signature

There is circumstantial evidence that Trump’s political connections and business dealings with members of the NJCC may have helped his approval.

In an ironic turn, the Playboy Hotel was purchased by Trump in the early 1990’s and rebranded as the Trump Regency Hotel. Over the coming decades, all off the casinos Trump opened in Atlantic City would declare bankruptcy.

This Week In Business History 📅

January 24, 1848 James W. Marshall discovered gold at Sutter’s Mill in Coloma, California, sparking the official start of the Gold Rush.

A prospector from the 1890’s.

January 21, 1911 The first-ever Monte Carlo Rally, organized by Prince Albert I of Monaco, is held to promote tourism in the principality during the winter season. The race would held solidify the automobile’s place in European culture and would evolve into the Formula 1 Monaco Grand Prix in 1950.

Participants traveled from across Europe to converge in Monaco for the race.

January 25, 1886 The North Hudson County Railway opens the first elevated cable railway in the United States in Hoboken, New Jersey. Using a cable to go up steep hills, the “Hoboken Elevated” was the precursor to above-ground subway lines in New York City and Chicago.

An elevated train runs in Hoboken in the 1890’s.

The Pennsylvania Railroad Company Stock Certificate (1964)

January 24, 1935 Gottfried Krueger Brewing Company introduces Krueger’s Finest, the first ever canned beer. The flat-top steel cans, developed by the American Can Company, revolutionized the beer industry by offering a lightweight alternative to traditional glass bottles.

The full lineup of canned beers Gottfried Kreuger introduced in the 1930’s.

January 25, 1919 U.S. Steel, under the leadership of J.P. Morgan, becomes the first U.S. company to reach a market value of over $1 billion. Morgan and his partner Elbert H. Gary controlled over two-thirds of the steel market at the time, forcing competitors to close up or get bought out.

Morgan, Gary, and the U.S. Steel board of directors in 1919.

January 24, 1984: Apple Releases The Macintosh 📅

After the release of the Apple Lisa in 1983, Apple was at the brink of bankruptcy. While customers liked the Lisa’s user-friendly features, its price tag ($9,995!) made it inaccessible to most people. Apple pivoted with the release of the Macintosh, and computers were never the same.

The Macintosh featured a 9-inch monochrome display, 128 KB of RAM, and a built-in 3.5-inch floppy disk drive. Like the Lisa, the Macintosh had a graphical user interface (GUI) controlled via a mouse, making it accessible for non-technical users, but unlike the Lisa, it cost only $2,495.

Two days prior to its release, Apple debuted its iconic "1984" commercial directed by Ridley Scott debuted during the Super Bowl XVIII, building massive hype across the country and driving demand for the new product.

Within its first year, Apple sold over 250,000 units of the Macintosh, much better than the 10,000 Lisa units that were sold the previous year. The Mac's GUI with menus, files and folders became the inspiration for other operating systems including Microsoft Windows and set the standard for modern computing.

Are You Ready For Some Football? 📅

Forget Ohio State vs. Notre Dame in the CFB championship tonight.

Let’s take a look at the Carnegie-Mellon Tartans and other schools founded by great American industrialists.

This Just In 📅

In the early 1900’s, the Belgian colony in Congo was a gold mine. Literally.

A map of the Belgian Congo from the 1920’s.

Children fleeing Kilo-Moto during the Congolese civil war in 1992.

When gold deposits were discovered in Congo, King Albert I established the Société des Mines d'Or de Kilo-Moto in 1919 to help fund Belgium’s post-World War I recovery. These were the largest gold mines on the continent, producing 80% of African’s gold.

In years following Congo’s independence in 1960, the country suffered from political unrest, and civil wars with arms purchased with stolen gold from Kilo-Moto disrupted operations.

Own a piece of history- check out the 1944 stock certificate from Société des Mines d'Or de Kilo-Moto below!

Société des Mines d'Or de Kilo-Moto (Gold mine in Congo) Stock Certificate from 1944

Looking Forward 📅

That’s old news. What can we look forward to?

• Markets closed today- one less chance to lose money.

• We’ve got the CFB Championship tonight and the NFL conference championships on Sunday. Let’s go!

• Tesla and Microsoft both report earnings on 1/29. How’s the Cybertruck affecting the bottom line?

• The National Association of Realtors releases their report on home sales on 1/23, giving us a picture of the national real estate market.

• Severance Season 2, American Primeval, Squid Game Season 2, The Pitt, Landman- so much good TV.

We’re off to a great start for 2025.

Last year, six of the “Magnificent Seven” stocks outperformed SPY, and analysts are predicting good results for this year as well.

We’ve got Enron building nuclear reactors, AI companies going public at rich valuations, and quantum computing making waves.

The foundation of the future is being laid now as we speak.

Thoughts go out to Kim Kardashian after getting demoted at the private equity firm she co-founded due to drastically missing her fundraising goals. Hopefully she’ll land on her feet.

As always, stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

Trump Opens The Biggest Casino In The World 📅

Before he was President, before he was a reality TV star, Donald Trump was in the casino business.

Donald Trump opened the Taj Mahal Casino in Atlantic City, New Jersey, in April 1990, calling it the "Eighth Wonder of the World." At the time, it was the world’s largest casino, featuring over 120,000 square feet of gaming space built at a cost of $1 billion. The opening ceremony even featured a concert by Michael Jackson.

The project had financial difficulties from the start. Trump financed the casino with high-interest junk bonds, carrying an annual debt service of nearly $95 million, which put immediate pressure on the business's profitability.

Critics such as gaming industry analyst Marvin Roffman said that the casino’s debt was unsustainable, as he told ABC News. Trump phoned Roffman’s boss at Janney Montgomery Scott and demanded he was fired- and he was.

Trump Hotels & Casino Resorts Inc, Original and Rare Issued Stock Certificate from 2004 with Donald Trump portrait and printed signature

Within a year of its opening, the Taj Mahal filed for Chapter 11 bankruptcy in 1991. Employees and contractors alleged they were underpaid or never compensated for their work on the casino, fueling further public criticism.

The casino also faced scrutiny for its ties to organized crime, with the NJ Casino Control Commission imposing fines on the Taj Mahal for failing to properly investigate potential money laundering by the New York mafia.

The Trump Taj Mahal closed in 2016, reopening in 2018 as the Hard Rock Casino.

Donald Trump and Michael Jackson backstage before the King of Pop’s performance at the opening.

Donald Trump outside his signature property.

The Taj Mahal’s contents were put up for sale after the final bankruptcy proceedings in 2016.

Roffman sued Trump for damages after Trump had him fired for his criticisms.

This Week In Business History 📅

January 19, 2000 Starbucks opens in first store in mainland China with products tailored to reflect Chinese culture and a localized mobile app. Today, there are over 7,500 Starbucks in China, with the original Beijing location still in operation.

Starbucks executive and employees from both countries stand in front of their flagship location.

January 18, 1996 The Walt Disney Company acquired ABC parent company Capital Cities for $19 billion in one of the largest media mergers of its time. The deal gave Disney control of the ABC television network, ESPN, and various radio and publishing assets.

Disney Chairman Michael Eisner shakes hands with Capital Cities/ABC Chairman Thomas Murphy.

January 17, 1956 The Ford Motor Company launched its IPO, offering 10.2 million shares at a price of $64.50 per share. The company raised $650 million and was valued at $3.2 billion. During the global financial crisis of 2008, Ford avoided bankruptcy like General Motors and Chrysler due to a large capital raise two years prior.

A 1956 Detroit newspaper letting locals know they could own a piece of Ford.

Ford Motor Company Stock Certificate (rare specimen)

January 19, 1983 The Apple Lisa is introduced, bringing a graphical user interface to the mainstream market, replacing text commands with windows, icons, and a mouse. It was named after Steve Jobs’ daughter, Lisa. The Lisa cost $9,995 (about $30,000 adjusted for inflation), and sold only about 10,000 units. Apple nearly went bankrupt by its failure, saved only by the release of the Macintosh in 1984.

A young Steve Jobs shows off the Lisa. Though it was a commercial failure, it was ahead of its time, bringing about many features we consider standard on computers today.

The Biggest Monopoly In The World: Standard Oil Is Founded 📅

On January 10, 1870, The Standard Oil Company was founded by John D. Rockefeller and William Rockefeller in Cleveland, Ohio. The company quickly expanded as Rockefeller used aggressive business tactics to acquire rival refineries and secure control over oil production, transportation, and distribution.

Using vertical integration, Standard Oil consolidated smaller competitors, enabling it to dominate the American oil industry. Standard Oil quickly became a major force in the oil market, with a monopoly over the refining, marketing, and distribution of petroleum products in the United States.

By the late 1880s, Standard Oil controlled nearly 90% of the U.S. oil market, sparking a backlash from competitors and public officials who called for regulation and antitrust action. In 1911, the U.S. Supreme Court ruled that Standard Oil was in violation of the Sherman Antitrust Act, and it was ordered to break up into 34 smaller companies.

Many of these companies, such as Exxon, Mobil, and Chevron, continued to operate today.

John D. Rockefeller walks with his son John Jr. outside one of his refineries.

A 1904 antitrust political cartoon depicts Standard Oil controlling all parts of the oil refining process.

Standard Oil Stock Certificate Signed by John D Rockefeller & Henry Flagler (Very Rare)

This Just In 📅

Playboy "Women of Enron" Mazagine Edition 2002

Looking Forward 📅

That’s old news. What can we look forward to this week?

-JP Morgan, Morgan Stanley, Citigroup, and Goldman Sachs all report earnings.

-United Healthcare reports earnings for the first time since CEO Brian Thompson was murdered in New York City by Luigi Mangione.

-Wicked, A Complete Unknown, and The Brutalist keep picking up steam for potential Oscars nominations.

-The CFB National Championship is all set for next Monday and we’re down to the divisional rounds in the NFL. If your team is still in, best of luck.

Stay safe, stay warm, and stay bullish.

If you’re into numerology, 2025 is an interesting year.

It’s the first perfect square year since 1936… 45² = 2025… and (20 + 25)² = 2025.

Even better, (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9)² = 2025

If you want more, 1³ + 2³ + 3³ + 4³ + 5³ + 6³ + 7³ + 8³ + 9³ = 2025.

What does this mean for you?

Well… probably nothing, if we’re being honest. But it’s certainly unique.

It’s shaping up to be a great year. Stay bullish.

Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.

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January 6, 1838: Samuel Morse Sends The First Ever DM 📅

On this date, Samuel Morse showed off his telegraph system along a two-mile stretch of the Baltimore and Ohio Railroad near Morristown, New Jersey.

Morse transmitted a message using a wire laid alongside the railroad tracks, showcasing the reliability of his system for long-distance communication.

The message: “A patient waiter is no loser.”

A major obstacle to the mass adoption of the telegraph was the placement of communication lines. The Baltimore and Ohio Railroad, one of the most innovative railroads of the time, allowed Morse to run the necessary equipment adjacent to their tracks, a solution that gave unobstructed coverage over the distance needed.

This proved the telegraph could operate over long distances and that railroads could provide the infrastructure for deploying this new technology.

New York Central Railroad Company Stock Certificate from 1964

The New York and Harlem Railroad Company Bond with portrait of Vanderbilt

The success of the 1838 demonstration not only validated Morse’s invention but also attracted interest from investors and government officials, paving the way for the construction of the first long-distance telegraph line between Washington, D.C., and Baltimore in 1844- parallel to an existing railroad track.

Morse’s system used to send telegraphs consisting of long and short pulses of electrical waves (better known and dots and dashes) would later become standardized internationally as Morse Code.

A promotional pamphlet for the telegraph

Morse shows off his invention to curious onlookers

Around the same time, Cornelius Vanderbilt, then an owner and operator of steamboats, would pivot to buying and consolidating railroads after seeing the opportunities made possible with railroad tracks and telegraph lines.

A political cartoon from the late 1830’s showing Vanderbilt buying and merging railroads.

What Happened Next In Railroads? 📅

January 7, 1853 The first train safely passes through the Thames Tunnel in London, a major breakthrough for underground rail construction.

May 10, 1869 The last rail of the Transcontinental Railroad is laid at Promontory Summit, Utah, in a “Golden Spike” ceremony.

November 18th, 1883 Time zones are universally adopted across the United States to standardize schedules and avoid train crashes in what became known as the “Day of the Two Noons”.

February 2, 1888 The first electric trolley is introduced in Richmond, Virginia, creating a model for urban streetcar systems around the country.

January 22, 1913 Grand Central Terminal opens in New York City, becoming a landmark of urban railroad architecture and design.

New York Central and Hudson River Railroad Company Large Bond Certificate

New York Connecting Railroad Company (NYC's Hell Gate Bridge) Bond from 1945

Railroads accelerated the advancement of many technologies that had faced slow adoption previously. In addition to the above, railroads made tourism accessible to everyday Americans and made the idea of “suburbs”, a middle ground between rural and urban areas, possible.

January 9, 2007: Apple Officially Debuts The iPhone 📅

Announced by Steve Jobs at the Macworld Conference in San Francisco, the iPhone was a groundbreaking device that combined a mobile phone, an iPod, and a web browser into one. Its 3.5-inch display eliminated the need for physical keyboards, setting it apart from competitors like BlackBerry and Nokia.

Within 74 days of its launch on June 29, 2007, Apple sold over 1 million iPhones (4GB for $499 and 8GB for $599), an unprecedented achievement for a first-generation device.

By the end of 2008, Apple had sold over 6 million units of the original iPhone, and the launch of the App Store that year further revolutionized the mobile ecosystem.

By 2023, the iPhone had sold more than 2 billion units worldwide, cementing its legacy as one of the most influential products in history.

What Else Happened This Week In Business History? 📅

January 9, 2001 Six years to the day before announcing the iPhone, Apple and Jobs debuted iTunes, changing the way people bought and listened to music forever.

January 8, 1991 Pam Am Airlines, struggling financially for years, declares bankruptcy. Terrorist attacks and threats hurt consumer confidence, and they never came back.

January 11, 2013 Dell Computers goes private in a then-record $24.4 billion buyout by founder Michael Dell and Silver Lake Partners. Dell would re-IPO five years later.

January 9, 2018 Kodak, the once powerful film company, re-emerges from bankruptcy to launch KodakCoin, a cryptocurrency meant to help photographers integrate blockchain technology.

January 10, 2000 America Online announces it will be buying Time Warner for $182 billion in cash and debt, the largest acquisition in corporate history.

This Just In 📅

Nabisco Inc, Specimen Stock Certificate

Looking Forward 📅

That’s old news. What can we look forward to this week?

• We’re down to four teams in the CFB Playoffs. All four teams with byes were knocked out, and the highest seed left is a five seed. If you’re a fan of Penn State, Ohio State, Texas, or Notre Dame, good luck.

• Delta Airlines and Walgreens release earnings on Friday 1/10.

• Nosferatu is out in theaters and receiving good reviews. If your partner isn’t into that, check out Wicked or The Brutalist.

• Squid Game season 2 is out on Netflix.

Wishing you luck this trading week. May your puts print, your calls cash in, and always, Stay Bullish.

Whatever holiday you celebrate, hope you had a great one with your friends and family.

It’s a beautiful start to the new year- a chance to build new habits, meet new people, and find new investments.

We’re wrapping up a great year for the stock market, with major indices, big tech, and mega-caps ripping higher and higher. We even saw Bitcoin break $100,000 - an inconceivable price just a few days ago.

For those of you with a team left in College Football Playoffs, good luck this week.

As a thank you to all of our loyal subscribers, we are offering an exclusive 20% off the entire Ticker History Wall Street Collectables shop with code “NewYear” until this Friday, 1/3.

This year will be even better. Remember, Stay Bullish.

January 5, 1926: Ford Introduces The Eight-Hour Workday 📅

Henry Ford gave his employees an eight-hour workday and a daily wage of $5, a major increase from the standards of the time. By offering unprecedented wages and shorter work hours, Ford created a motivated and loyal workforce, attracting skilled laborers from across the country. Employee retention was key to Ford’s assembly line production model, and this “less is more” approach solidified his dominant position in the market.

This strategy also significantly expanded the consumer base for Ford’s vehicles, as employees could now purchase the cars they were making. Productivity and sales soared as profits doubled from $30 million in 1914 to $60 million by 1916.

Other businesses were forced to adopt similar practices or risk losing talented workers, and the eight-hour workday became the standard for modern labor practices.

A look inside a Ford assembly plant in the late 1920’s.

Workers across the country demanded similar hours and wages as those in Ford’s plant.

For historic stock certificates from auto companies, check out the Ticker History Automotive collection.

January 3, 1977: Apple Becomes Apple, Inc. 📅

Founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976, Apple had gained attention for its innovative approach to personal computing with the Apple I. The three took a major step in formally incorporating Apple Computer, Inc. turning the company from a small startup run from a garage to major tech entity. Incorporation allowed Apple to expand its operations, attract investment, and provide legal protections as it began to scale its efforts to build and market computers.

This marked the beginning of an era of rapid growth for the company. Apple’s focus on user-friendly and aesthetically pleasing computers led to the success of the Apple II, which became the first commercially successful personal computer ever mass produced. Over the next few years, Apple would revolutionize the tech landscape with innovations such as the Macintosh, which introduced the graphical user interface to a broader audience.

In 2011, Apple’s original signed incorporation documents, shown below, sold for $1.6 million at a Sotheby’s auction.

Jobs and Wozniak in 1977.

Apple’s original documents of incorporation.

Check out original stock certificates from tech companies, like this Atari Stock Certificate or the Apple Stock certificate post card replica in our shop!

December 30, 2004: Facebook Gets Its 1,000,000th User 📅

“TheFacebook”, later rebranded to Facebook, reached its one millionth user just ten months after its launch by Mark Zuckerberg and his college roommates. Originally planned as a networking tool for Harvard students, the platform quickly took off with other Ivy League schools, then other universities, and then the general public. Inspired by people’s usage of AOL Instant Messenger (AIM) to check away statuses, user growth was driven by the ability to personalize profiles and connect with friends.

By 2006, Facebook had surpassed 10 million users, and by 2012, it reached 1 billion users, becoming the first social media platform to achieve such a feat. As of 2024, Facebook, now known as Meta, has over 2.9 billion monthly active users, making it one of the largest social media platforms. The company's user growth has lead to significant financial success, with Meta generating over $116 billion in revenue in 2023.

Mark Zuckerberg shows off his original Facebook page from 2004.

Check out our collection of dot-com era stock certificates!

More Events From This Week In History 📅

December 30, 1922

The Union of Soviet Socialist Republics (USSR) is established.

December 31, 1997

Microsoft buys Hotmail for $400 million.

December 31, 1935

“The Landlord’s Game”, later renamed to Monopoly, is patented in the United States.

January 4, 1972

Hewlett-Packard introduced the HP-35, the world's first handheld scientific calculator.

Ticker History Presents 📅

Ticker History’s 2024 Wrapped 📅

$DJIA: +14.95% Ten year average: +14.1%

$SPY: +27.23% Ten year average: +13.2%

$QQQ: +31.55% Ten year average: +17.9%

Tesla: +82.81%

Meta: +74.23%

Google: +41.23%

Apple: +39.52%

NVIDIA: +190.49%

Amazon: +51.44%

Biggest IPO: Lineage ($LINE), Over $4.4 billion raised

Biggest Acquisition: Mars Buys Kellanova for $39 billion

Biggest Winner TSS, Inc. ($TSS): +4,103%

Biggest Loser Maxeon Solar ($MAXN): -98.72%

This Just In 📅

Pepsi Bottling Group, Inc. Stock Certificate Specimen

Looking Forward 📅

That’s old news. What can we look forward to this week?

• The College Football Playoffs is down to the quarterfinals, with two games on January 1 and two on January 3.

• Fun fact: three companies report earnings on January 1, 2025. Sounds like three C-suites aren’t looking forward to a fun New Year’s Eve.

• Apple’s AI-powered devices, Meta’s smart glasses, and the Nintendo Switch 2 release dates should be announced any day now.

• Happy birthday to LeBron James and Tiger Woods on December 30th!

As always, remember that true wealth comes from friends and family. Whatever your plans are for New Year’s Eve, please remember to drive sober or find a designated driver.

This is the best time of year.

Houses are decorated, schools are closed, fireplaces are lit, and everyone’s got that holiday spirit.

Wishing you and yours a great holiday. Be safe, keep warm, and stay bullish.

Let’s take a look at some of the biggest market events from this week in history.

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December 23, 1913: Federal Reserve Act Signed 📅

President Woodrow Wilson signed the Federal Reserve Act into law which created what is now known today as the Federal Reserve System. The act was passed in response to a series of financial crises, including the Panic of 1907, where the collapse of the Knickerbocker Trust Company caused nationwide instability. The Federal Reserve Act established 12 regional Federal Reserve Banks, each serving a specific district, and created a Board of Governors in Washington, D.C. to oversee the system's operations. The new system was designed to reduce the power of private banks while increasing government oversight of the economy.

The Federal Reserve System was given the authority to regulate interest rates, manage inflation, and act to stabilize the economy in times of crisis, a major shift toward centralization of banking. The act also introduced the concept of a "discount rate," at which banks could borrow from the Federal Reserve, and set up a system of reserve requirements for commercial banks. Although initially controversial, the Federal Reserve Act ultimately paved the way for the modern American financial system.

For historic government stock certificates like this New York State Housing Authority Bond from 1973, check out the Ticker History Shop.

December 23, 1988: US Department of State Warns Pan Am 📅

On this date, the U.S. Department of State issued a security warning to Pan Am due to terrorist threats to U.S.-bound flights during the holiday season. Just two days prior, Pan Am Flight 103 from London to New York had exploded over Lockerbie, Scotland, killing all 259 passengers and 14 people on the ground. A passenger had smuggled a bomb hidden inside a cassette player and triggered it from the cargo hold.

During the busiest travel days of the year, flights were suspended or cancelled, and stricter baggage screening and passenger vetting procedures were put in place.

Despite being the first airline to operate transatlantic flights and use the Boeing 747, Pan Am’s damaged reputation and customer hesitancy caused revenues to plummet. Once a prestige airline worth over $2.5 billion at its peak in the 60’s, Pan Am would go bankrupt two years later.

For historic airline stock certificates like this Pan Am World Airways Red Stock Certificate, check out the Ticker History Shop.

December 23, 1973: The Oil Crisis Begins 📅

The Organization of the Petroleum Exporting Countries (OPEC) raised the price of crude oil from $5.11 to $11.65 per barrel overnight- a 128% increase. The price of oil had already risen from $2.90 per barrel in October 1973, marking a 300% increase in less than three months. This hike had major ripple effects, triggering inflation, slowing economic growth, and exacerbating energy shortages across the world.

Earlier in the year, OPEC had already cut oil production and banned oil some shipments to the United States in retaliation for the United States’ support of Israel during the Yom Kippur War.

OPEC’s decision sparked what would become known as the Oil Crisis or Oil Shock, with strict rationing in place across America and cars lining up for hours to get fuel. Energy independence became a national priority, and the creation of the U.S. Strategic Petroleum Reserve and investments in alternative energy were immediate outcomes.

For historic energy stock certificates like this Uncle Sam Oil Company Bond Certificate, check out the Ticker History Shop.

More Events From This Week In History 📅

December 26, 1973

President Richard Nixon becomes the first (and only) President to fly on a commercial airline.

December 25, 1991

Mikhail Gorbachev resigns; USSR collapses within days.

December 23, 1783

George Washington resigns as commander in chief of the Continental Army.

December 30, 1986

The British government officially installs sensors to replace canaries to detect carbon monoxide in coal mines.

Santa Claus Is Coming To Town? 📅

Each year in the week between Christmas and New Year’s Eve, investors look forward to the so-called “Santa Claus Rally”, where the market supposedly finishes with a year-end bump.

Is this real, or just make believe?

Source: MarketWatch, Yahoo! Finance

Looking at the data, it would appear so. Stocks do tend to go up in that final week, making up about 13% of the year’s gains in just 2% of the trading days.

What could be the cause? The festive holiday spirit means less selling, higher consumer spending and confidence, and possible fund managers adjusting their portfolio to show better performance for the year.

For you data nerds, there’s a correlation of r = 0.65 between the Santa Claus Rally and the overall yearly gains. Think of it like a tip at the end of a meal; bigger yearly gains means bigger presents from Santa.

If trends continue, expect a Santa Claus Rally of 1.46% in the next week.

Blasts From The Past 📅

Source: Toy Retailers Association, History Today, Fundemonium

This Just In 📅

DreamWorks Animation Specimen Stock Certificate - With Shrek!

Looking Forward 📅

That’s old news- what can we look forward to this week?

-Christmas and the first night of Hanukkah fall on the same date for the first time in 19 years. It won’t happen again until 2035.

-Nike (December 23), FedEx (December 24), and Accenture (12/27) release their quarterly earnings reports.

-If trends continue, expect a Santa Claus Rally of 1.46% in the next week.

-Markets closed on Christmas.

As always, remember that true wealth comes from friends and family. Whether you celebrate Christmas, Hanukkah, Kwanzaa, some combination, none at all, or another holiday, wishing you and yours a great next few days.

Every stock has a story.

Hope you had a great Thanksgiving with your friends and family. Still full 😂

We’re very thankful for you- our readers who appreciate what’s history and see it’s impact that shape the companies we invest in today.

As a token of our appreciation, we are offering 25% off the entire Ticker History Wall Street collectible store with code ‘Thanksgiving’ at check out. Grab a unique gift for yourself, a colleague, friend or family member.

Thank you for reading, liking, subscribing, commenting, and sharing.

Let’s take a look at some of the biggest news in markets, stocks, and business from this week in history.

December 3, 2001 – Enron Files for Bankruptcy 📅

In one of the largest corporate meltdowns in U.S. history, Enron Corporation filed for Chapter 11 bankruptcy this week in 2001. The company had engaged in massive fraud for years, hiding billions in debt, inflating assets, and using questionable mark-to-market accounting practices.

Whistleblower Sherron Watkins, head of Enron Global Finance, saw accounting problems with an energy project in Nigeria and brought them to the attention of CEO Ken Lay. After investigating further, he saw how deep rooted the problems were and formed a crisis management team in response. It was too late- years and years of mismanagement and lack of oversight led to the company’s collapse as the information became public.

In a matter of weeks, tens of billions of dollars in shareholder value were wiped out and thousands lost their jobs. Regulatory changes were passed in the aftermath, including the creation of the Sarbanes-Oxley Act to ensure stricter financial reporting standards for public companies.

For historic stock certificates like this rare post-bankruptcy Enron print from 2002, check out the Ticker History Shop.

December 5, 1996 – Alan Greenspan’s “Irrational Exuberance” Speech 📅

While speaking at the American Enterprise Institute, Federal Reserve Chairman Alan Greenspan spoke about “irrational exuberance” in the stock market. Greenspan questioned whether stock prices were climbing to unsustainable levels based on speculation instead of company fundamentals. 

The next morning, the Dow Jones dropped 2.3%, Japan’s Nikkei fell over 3%, and the German and London markets 4%. 

Stocks recovered, with investor optimism in the dot com boom causing the Dow Jones to almost double to 12,000 less than three years later. Though it came much later than he predicted, the bubble eventually burst in 2000, with the NASDAQ falling over 75% from its peak.

Federal Reserve Chair Alan Greenspan lectures investors on inflated asset values, causing a global market crash

December 6, 1974 – The Bear Market Hits Bottom 📅

Fifty years ago, the stock market hit its lowest point during one of the worst bear markets in history. Over two years, the Dow Jones had dropped by 43%, one of the biggest declines in U.S. history. The S&P 500 closed at just 65.01, compared to over 6,000 today. During this time, the economy experienced high inflation, with rates rising to 11.3%.

The market crash was due to a mix of factors. The Bretton Woods Agreement, an international system which placed a fixed rate on gold at $35 per ounce, fell apart, which led to the devaluation of the U.S. dollar. Investor confidence was also hurt by the resignation of President Nixon and the oil crisis, and many pulled their money out of the market. 

It would take about 20 years for the stock market to fully recover.

The 1970’s was an extremely tumultuous time for American politics and economics.

Why do once great retailers go out of business?

• Not keeping up with trends in online retail

• Outdated sales models

• Emerging technology makes their product line obsolete or unprofitable

Stay current, or become irrelevant.

Market Quotes: Thirty Years Ago 📅

“In business, the rearview mirror is always clearer than the windshield.”

-Warren Buffett at the 1994 Berkshire Hathaway Annual Meeting

“The Internet is becoming the town square for the global village of tomorrow.”

-Bill Gates at the 1994 Comdex Trade Show

“The key to making money in stocks is not to get scared out of them.”

- Peter Lynch, 1994

Market Birthdays 📅

Walt Disney, Co-Founder of The Walt Disney Company

December 3rd, 1901

Jeff Bezos,  Founder and former CEO of Amazon

December 4th, 1964

Kirk Kerkorian, Owner of MGM Resorts International

December 5th, 1917

Looking Forward 📅

That’s all in the past- what can we look forward to this week?

• Salesforce (12/3), GameStop (12/4), and Lululemon (12/5) earnings reports

• Apple iOS 18.2 released (12/8)

• Costco releases November results, a leading indicator for holiday sales (12/4)

• Cyber Monday, the peak of online shopping (12/2)

• Bureau of Labor Statistics releases unemployment rate (12/6)

Wishing you the best of luck this trading week. May your puts print and your calls cash in, and always remember that real wealth comes from friends and family.

History doesn’t repeat itself, but it sure does rhyme. 

In Partnership With T-REX Leveraged ETFs

Welcome back to Ticker History, where we take a look at some of the biggest news in markets, stocks, and business from this week in history.

We’ve got crypto hitting all time highs, a new (former) President will be inaugurated in two months, and escalating tensions in the Middle East. 

History doesn’t repeat itself, but it sure does rhyme. 

December 1st, 2000: Quibi’s Last Day 📅

Quibi was a short-form streaming platform founded by Jeffrey Katzenberg (former chairman of Disney) and led by Meg Whitman (former CEO of eBay). The pair raised $1.8 billion from high-profile investors… and shut down just six months after its launch.

It was designed to be mobile-only with original content broken into 10-minute segments. Executives were poached from Instagram, Hulu, and Netflix, and celebrity showrunners and actors were hired for Quibi originals.

Slow signups, a competitive streaming market, and COVID-19 all played a role in the shutdown. Key investors like Disney, NBCUniversal, and Alibaba Group were left with major losses, and in the end only about $350 million was returned.

Quibi blowing through $1.8 billion in six months is one of the fastest burn rates for a failed startup in modern history.

Promotional graphic for Quibi, the doomed mobile-only streaming platform.

_{This Week In History is presented by our partners at T-REX ETFs}

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December 1st, 1913: Ford Rolls Out The Assembly Line 📅

Henry Ford's usage of the moving assembly line modernized both his company and the auto industry as a whole. The assembly line, which had cars constructed in a continuous flow with workers specializing in specific tasks, drastically reduced production time. The time it took to build a car dropped from 12 hours to 93 minutes, a decrease of 87%.

This improvement led to a significant drop in manufacturing costs, letting Ford reduce the price of the Model T by nearly 70%, from $850 in 1908 to $260 in 1925. Ford's ability to produce affordable vehicles made cars more accessible for millions of Americans.

The assembly line changed labor practices and set the stage for mass production across other industries. Ford's decision to pay his workers $5 per day, more than double the standard wage at the time, attracted a higher caliber of worker and created a new group of consumers who could afford to purchase the products they built. By 1927, Ford had sold over 15 million Model T cars.

Employees at Ford’s Highland Park, Detroit factory on the assembly line in 1913.

For historic stock certificates from auto companies, like this rare Ford Motor Company Certificate from the 70’s, check out the Ticker History Auto Shop.

November 25th, 1963: NYSE Closes for JFK’s Funeral 📅

After President John F. Kennedy’s assassination on November 22nd, 1963, the New York Stock Exchange closed as the nation observed his funeral. This closure, and those of other markets in the country, was a rare event where the NYSE ceased operations for mourning. Trading was suspended entirely on this day, allowing the financial community to join the rest of the nation in honoring the fallen president​.

After reopening, the DJIA dropped about 3%. This reflected investor uncertainty, but was far less volatile than could have been expected considering the situation. By the end of the week, the Dow had made up for its losses, showing investor confidence in the country and its future.

Rarely seen photograph of the body of President John F. Kennedy lying in state in the Rotunda of the U.S. Capitol on Nov. 25, 1963, three days after his assassination in Dallas.

When else was the NYSE closed during trading hours and how did the market respond?

Source: Marketplace, Money Morning, and Fox Business

Biggest Railroads by Total Track Length: 1924 📅

One hundred years ago this week, railroads were the foundation of American transportation. The industry was adjusting to private ownership after being under government control during World War I. Despite competition from trucks, labor issues, and regulations from the Interstate Commerce Commission, railroads thrived.

Source: Association of American Railroads Historical Archives

Over the years, the majority of these railroads either merged into two current giants (Union Pacific and BNSF Railway) or became part of regional carriers like CSX and Norfolk Southern. Amtrak took over passenger rail services.

For historic stock certificates from railroads and airlines, like this Erie-Lackawanna Railroad Company Stock Certificate, check out the Ticker History Transportation Shop.

Market Quotes 📅

"Whatever you do, do it well.  Do it so well that when people see you do it, they will want to come back and see you do it again, and they will want to bring others and show them how well you do what you do."

-Walt Disney describing his philosophy on the construction of Disneyland 

Walt Disney reading Alice in Wonderland to Donald Duck in 1954.

For historic stock certificates and memorabilia from Disney, like this Disney World War 2 Bond, Shop check out the Ticker History Disney Shop.

"Risk comes from not knowing what you’re doing."

-Warren Buffet speaking to Columbia Business School graduates in 1993

Mr. Buffet returns to his alma mater (class of ‘51) to give advice to students.

"What we are setting out to do falls somewhere between impossible and improbable. That just happens to be our home address."

-Dreamworks co-founder and former Disney chairman Jeffrey Katzenberg describing Quibi at SXSW

Mr. Katzenberg delivering the Convergence Keynote at SXSW 2019

Market Birthdays This Week 📅

Andrew Carnegie, Scottish-American industrialist and founder of the Carnegie Steel Company. November 25th, 1835

Carnegie revolutionized the steel industry with the Carnegie Steel Company. After the 1901 sale of the company to J.P. Morgan for $480 million ($18 billion in 2024), he became one of the richest men in history. Carnegie spent his later years giving away his fortune, funding libraries, universities, and the arts, including the founding of the Carnegie Foundation and Carnegie Hall.

Karl Benz, German mechanical engineer who built the world’s first automobile powered by an internal-combustion engine. November 25th, 1844

Karl Benz is credited with laying the foundation for modern car design with the Benz Patent-Motorwagen in 1886. His wife, Bertha Benz, helped publicize the invention by completing the first long-distance car journey in 1888. Benz's company later merged with Daimler-Motoren-Gesellschaft to form what is now known as Mercedes-Benz.