For nearly 120 years, the Wall Street Journal (WSJ) has been regarded as a crown jewel in the field of U.S. journalism and a newspaper that is required reading among the business and power elite. On this day in 1889, the WSJ is first published by Dow Jones & Company, a financial information service established in 1882 by Charles Henry Dow and Edward D. Jones.
Recently on December 13, 2007, WSJ shareholders representing more than 60 percent of Dow Jones's voting stock approved the company's acquisition for $5 billion by News Corp headed by media mogul Rupert Murdoch. The acquisition by Murdoch had many mixed reviews, especially among WSJ employees and its staff of journalists, who thought the integrity of the paper would be severely tarnished under the leadership of their new boss.
This short video clip was filmed about a month ago featuring Jim Cramer, CNBC's "Mad Money Man" himself. Cramer has some wise words for investors in these trying times. Think soft drink!
Since 1975, American Express has been synonymous with its classic advertising slogan "Don't Leave Home Without It" when it was devised by David Ogilvy of Ogilvy & Mather, a preeminent New York City advertising agency. Today, many people are only familiar with American Express as an issuer of a variety of credit and charge cards. However, before American Express issued the first charge card in 1959 (they were the first company to issue the embossed plastic cards that we still use today), it was known for decades as a financial services company. In fact, American Express started out in 1850 and in its early history they enjoyed a virtual monopoly on the movement of express shipments such as goods, securities, currency, etc.) throughout New York State. Over the years, American Express has been in the pulse of many businesses and corporate ventures; and without a doubt the company has a very interesting and colorful history in financial services.
On this day in 1891, American Express copyrights its Travelers Cheque, which will be a boon to globe-trotting customers as a protection against theft and other loss of cash. The cheque business began quietly; in its first year of sales only 248 cheques (worth $9,120) were sold, but by 1909, annual sales were $23 million. During 2000, sales of American Express Travelers Cheques increased to $24.6 billion.
In regards to the creation and patent of American Express Travelers Cheques, inventor and company employee Marcellus F. Berry wrote, "There’s one thing every person does in a distinctive way. That is writing his signature. Therefore the foolproof device for taking money to strange places must carry the signature of the bearer. It must declare that it will be cashed only when a second, and matching, signature is added before witnesses." Berry was granted four copyrights for "the travelers cheque" which he himself named.
Yesterday, I posted a story about a 24-carat gold plated outdoor barbecue made by the Australian company BeefEater. If you read the post, then you may remember that the fully functional outdoor unit is souped up for the Guy in mind and commands a retail price of just over $50k. Now this post (which is dedicated to the ladies unless your a Guy that loves to wear diamonds while barbecuing in style) trumps yesterday's story by $1.4 million!
Emirates Business News featured the GoldVish Le Million cell phone, which costs $1.45 million and is in the Guinness Book of World Records as the most expensive phone in the world! Designed by Emmanuel Gueit, production was limited to three units. Called “LeMillion”, it is handcrafted from 18-carat gold and is available in rose, yellow or white gold, with 120-carat diamonds encrusted all over it. The units are handmade in Switzerland where they are equipped with 2GB memory, quad-band for worldwide reception, an 8x digital zoom camera, MP3 player, Bluetooth and FM radio.
To read more about the latest in "icy communication" click here. Now it's time to go broke in America - but at least you'll be in style while doing it!
Home movie lovers and You Tube addicts of the world unite! On this day in 1923, the 16-mm Kodak Model A camera and projector are introduced in America for the first time. Although home movie equipment had been available in Britain since 1896, the Kodak equipment was cheap and infinitely easier to use, and therefore accessible to a much wider audience. Thanks to this type of technology, the movie world has benefited greatly from the aspiring efforts of such contemporary and famous filmmakers as Steven Spielberg and George Lucas. Both Spielberg and Lucas played around with home movie cameras in their youth which inspired them to be filmmakers (and rich beyond their wildest dreams as a result).
For generations, the outdoor barbecue has been the particular expertise and passion for the American Guy; grilling has become both an institution as well as a tradition - particularly with our leisure time such as the holiday we are celebrating today. In this tough American economy, if you are lucky to have about $50k lying around in the bank and need the latest jaw dropping gadget to impress those in your life, then this outdoor Guy gadget may be for you.
The famous Australian barbecue maker BeefEater has recently unveiled the ultimate in backyard bling - the world’s first fully operational gold barbecue. BeefEater commissioned the glittering grill (valued at over $50,000) in time for the Sydney Home Show as a wacky and fun way to celebrate recently being named the World’s Finest Barbecue in a global review of the world’s finest luxury products across a number of categories. The unique barbecue featured a six-burner barbecue and wok burner, roasting hood and warming rack, high output burners, quartz start ignition, vaporizer grid and reflector system, all individually plated in 24-carat gold.
To read more about the golden throne for all Guy's (and gals), click here.
Today is the 232nd birthday of our nation! In light of the bleak economy, massive job losses, and gas prices, America is still the greatest nation on earth to live and enjoy freedom! I want to wish all my readers and friends the best of everything this Independence Day! As for me, I will barbecue this holiday and watch some cool late night fireworks by the river near my home. Blessings to you all!
It takes many, many years in order to properly build wealth. Watching your pennies, cutting corners on expenses, and spending and investing wisely is a great start to propelling wealth over the long haul. While the secret to building wealth is not such a mystery, one woman over a century ago became legendary for being way too tight with her money. On this day in 1916, Henrietta Howland Green (a.k.a. the "Witch of Wall Street") dies in New York City as the richest woman in America with an estate worth over $100 million. She was 80 years old and miserly to the very end. Despite her enormous wealth, she lived the last two decades of her life in a tiny apartment in Hoboken, dressed shabbily, haggled with shopkeepers, and avoided medical treatment other than what she got at charity clinics. Her practice of maintaining a large pool of liquid assets for lending allowed her not only to survive the panic of 1907 but to thrive. Many investors at the time of the panic were highly grateful to Green and found themselves in debt to her.
Since the beginning of television, the bread and butter for any broadcast station is the revenue that comes from advertising. If you have seen nostalgic TV commercials from the 1940s, 50s, and 60s, (check out You Tube for a good sampler of vintage commercials) then you know that television advertising and design has come a long way since the first commercial aired in 1941. Today, the commercials that interrupt our viewing pleasure run the gamut of being funny, glossy, provocative, entertaining, and just downright annoying (think "Head On" rub on aspirin that looks more like the paste we used to bind construction paper pieces together in kindergarten - Head On commercials are annoying but very effective).
If you noticed recently, the commercials for LG's new line of Scarlet TV sets are made to be more of a high-end Hollywood movie premiere and its hard to tell that they are trying to sell you a product - very clever and sexy marketing!
On this day in 1941, for-profit commercial television is first broadcast legally in the United States, as the licenses issued by the Federal Communications Commission becomes effective. Ten stations have received licenses a few months earlier on May 2. License number one was issued to W2XBS, NBC, which telecast from the Empire State Building over Channel 1.