This Week in Business History- Episode 19

“Along with Lawrence E. Spivak – – Rountree would create a radio program entitled “Meet the Press”, which was unveiled on television just 2 years later. You might have heard of it. It’s only become the longest running program on all of television. And through the course of over 70 years of Meet the Press programming – – there’s only been one female moderator: Martha Rountree.”

-Scott Luton, Host, This Week in Business History

 

In this episode of This Week in Business History, Scott dives into the back story of the Nobel Peace Prize, Dodge automobiles and “Meet the Press”. He also touches briefly on bebop, The Body Shop, The Supremes – – and the day that still represents the largest one-day Dow Jones crash (at least by percent) in U.S. history.

Scott Luton (00:12):

Good morning, Scott Luton here with you on this edition of this week in business history. Welcome to today’s show on this program, which is part of the supply chain. Now family of programming. We take a look back at the upcoming week, and then we share some of the most relevant events and milestones from years past, of course, mostly business focused with a little dab global supply chain. And occasionally we might just throw in a good story outside of our primary realm. So I invite you to join me on this. Look back in history to identify some of the most significant leaders, companies, innovations, and perhaps lessons learned in our collective business journey. Now let’s dive in to this week in business history.

Scott Luton (01:10):

Hello, and thanks for joining us. I’m your host Scott Luton. And today on this edition of this week in business history, we are focused on the week of October 19th, a one quick programming note. Before we dive into today’s show, as always, we invite you to join us by searching for this week in business history, wherever you get your podcasts and click subscribe. So you don’t miss a single thing. And for that, we are greatly appreciative. Thanks so much for listening on today’s episode, we’re offering up a wad buffet of business history, news, and notes. So stay tuned as we look to increase your business history at ACU. Thanks again for joining us today on this week in business history, PowerBar team here at supply chain. Now on October 21st, 1833, Alfred Nobel was born in Stockholm, Sweden. He was one of eight children, but only Alford and three of his brothers would survive past childhood, primarily due to how impoverished his family was by the time he was 17, Alfred Nobel would be fluent in Swedish, French, English, German, and Russian.

Scott Luton (02:08):

He would develop a keen interest in English, literature, poetry, chemistry, and physics Alford would move to Paris where he met [inaudible], who had invented natural glycerin a few years prior. He would become fascinated with the study of explosives, especially with solving the problem of using explosives in a more safe and predictable manner. Nobel would return to Sweden in 1863 on September 3rd, 1864. A fatal accident took place that cost the lives of five children in Sweden, including Alfred Nobel’s, younger brother, a meal, a shed that had been used for the prep and storage of natural glycerin exploded and a factory that deeply affected Alfred who’d become more intent on developing a better and safer way of handling explosives due to the accident. In 1867, Alfred Nobel invented dynamite. It would be patented in the U S and the UK and dynamite would be used extensively across industry, especially in mining.

Scott Luton (03:07):

It would greatly reduce the costs associated with drilling tunnels, building canals and blasting rock. During his lifetime Nobel would be issued over 355 patents globally. He would prove to be quite an entrepreneur and business leader as Alfred Nobel would go on to build 90 factories and laboratories in 20 countries, but due to his expertise, innovations and business wealth accumulated in part due to explosives and the role that would play in the world’s militaries, Africa bell would develop an infamous record. Patient was Psalm in global society. He’d also close friendship with Bertha Fon southerner, a peace activist and author that wrote a famous book for its time in 1889, entitled lay down your arms. The book would tackle a variety of themes, including a critical view of the military arms races taking place. At the time, these elements would significant godly influence Alfred Nobel in his latter stages of life.

Scott Luton (04:04):

Nobel would pass away in Sanremo Italy on December 10th, 10 96, much to his family surprise as they read his will. Alfred Nobel wanted his fortune to be used for prizes in physics, chemistry, physiology, medicine, literature, and PE the Nobel foundation was established as a result. And since 1901, exactly 603 Nobel prizes have been awarded to individuals around the world. On October 25th, 1864, John Francis Dodge was born in nows, Michigan. His father owned a Foundry in a machine shop, which undoubtedly had a profound impact on John and his brother, horse brothers, John horse Dodge had a very close relationship throughout life. John was more of an outgoing gregarious individual, and Horace was the cool mechanical genius. In 1896, the Dodge brothers would create Evans and Dodge bicycles accompanied it. Good, thanks in part to the ball bearings that horse Dodge would invent and later, Pat John and Horace Dodge would sell their share of the bike company and open their own machine shop.

Scott Luton (05:11):

Initially, they produce parts for stoves. Some might say a bit boring, but in short order, they shifted their focus to the automotive industry, which was exploding at the time. The Dodge brothers would quickly establish an impeccable reputation and they’d supply companies such as old motor vehicle company and the Ford motor company. Now their relationship with Henry Ford became very interesting. Henry Ford was short cash, but he needed the engine transmissions and other critical components to keep his production line moving. So Ford would offer John and Horace grant a 10% stake in Ford motor company. The partnership was successful, but the Dodge brothers wanted to make their own cars. And by selling their Ford stock, they would use the proceeds to launch the Dodge brothers motor car company in 1913, this new automotive company rocketed to early success, mainly due to the sheer genius in design innovation and performance of their cars and trucks.

Scott Luton (06:06):

Hey, did you know this? The word dependability was coined by the Dodge brothers motor car company, and it’d be added to the dictionary a few years later, but bad luck and bad health would greatly impact the company’s overall success. Both John and horse Dodge would pass away unexpectedly in 1920, just seven years after found in her company, John Dodge passed away from pneumonia and horse Dodge from cirrhosis of the liver. At the time of their death Dodge would be the second best selling automobile company in the U S and just seven years later, the Dodge brothers motor car company would be sold to Chrysler in 1928 on October 23rd, 1911, Martha Rountree was born in Gainesville, Florida. She developed an early interest in journalism. In fact, while attending the university of South Carolina, Columbia Rountree did some work for the Columbia record, a local newspaper. She would later work as a reporter with the Tampa Tribune in Tampa, Florida, but in 1938, Rountree would take the big leap and move to New York city and incredibly sharp and intelligent professional.

Scott Luton (07:08):

She was also exceptionally innovative. Martha Rountree would create radio’s first panel show in 1940 entitled leave it to the girls, but it was her next project that many still enjoy to this day. Along with Lawrence B Spievak Rountree would create a radio program entitled meet the press, which was unveiled on television. Just two years later, you might have heard of it. It’s only become the longest running program in all of television. And through the course of over 70 years of meet the press programming, there’s only been one female moderator that would be Martha Rountree. Interestingly enough, the creators of the show Spievak and Roundtree chose to part ways in 1953. So one of the partners had to buy the others. Half of the meet, the press business entity. They decided to toss a coin Spievak would win and Rountree would sell and depart the business.

Scott Luton (08:01):

But Martha Rountree would remain a very popular keynote activists and business person. There are plenty of quotes about Rountree from folks that knew her. But my favorite is this one from Ms. William Randolph Hearst, who described Roundtree as quote a diesel engine under a lace handkerchief. Martha Rountree would pass away at age 87 in Washington, DC, a few other items to note on this week in business history for the week of October 19th and October 21st, 1917, John Burks, dizzy Gillespie was born in Cherrelle South Carolina, many consider dizzy Gillespie to be the greatest jazz trumpeter of all time. Perhaps along with Louis Armstrong Gillespie is also wildly regarded as a Seminole figure of the bebop movement in music on October 23rd, 1942, Anita Roddick was born in the United Kingdom. She’d go on to found the body shop a cosmetics skincare and perfume company that has a wide range of about 1000 products sold in 3000 stores across more than 65 countries today, a widely admired business leader that also served tirelessly as an activist for a wide variety of global causes.

Scott Luton (09:13):

Rod it bleed in the action focus, global leadership role that business serves to do good. When October 22nd, 1966, the Supremes would become the first all female music group. They have a number one selling album when their ninth studio album entitled the Supreme, a Gogo hit the top of the charts. The album included legendary singles, such as you can’t hurry. Love and love is like itching in my heart. At the time the group was comprised of Diana Ross, Mary Wilson, and Florence Ballard when October 20th, 1973, after 14 years of construction, the world famous Sydney opera house opens on October 19th, 1987. The Dow Jones industrial average would fall by some 22%, 508 points. It still remains the largest one day percentage drop in the market. And finally, on October 24th, 2003, the world famous Concord aircraft would make its last commercial flight, which took off from New York and flew to Heathrow. That wraps up this edition of this week in business history.

Scott Luton (10:22):

Those were some of the stories that stood out to us, but what do you think, what stands out to you or tell us she just a note to amanda@supplychainnow.com. That’s right. We dropped radio. It is amanda@supplychainnow.com or find us on LinkedIn, Twitter, Facebook, or Instagram, and share your comments there. We’re here to listen. Thanks so much for listening to our podcast. Hope you’ve enjoyed our latest addition of this week in business history. Be sure to check out a wide variety of industry thought leadership@supplychainnow.com a friendly reminder. You can now find this week in business history, wherever you get your podcasts from and be sure to tell us what you think we’d love your review. And Hey, be sure to also check out the entire family of supply chain now program the growing family of supply chain that programming tequila sunrise with Greg white supply chain is boring with Chris Barnes tech talk digital supply chain podcast with Kerryn bursa, veteran voices, digital transformers in a whole lot more search for them all. Wherever you get your podcasts on behalf of the entire team here this week in business history in supply chain. Now this is Scott Luton wishing all of our listeners, nothing but the best. Thank you so much. We’re grateful for your support. Hey, do good give forward and be the change that’s needed. And on that note, we’ll see next time here on this week in business history. Thanks everybody.

Scott W. Luton is the founder & CEO of Supply Chain Now. He has worked extensively in the end-to-end Supply Chain industry for more than 15 years, appearing in publications such as The Wall Street Journal, Dice and Quality Progress Magazine. Scott was named a 2019 Pro to Know in Supply Chain by Supply & Demand Executive and a 2019 “Top 15 Supply Chain & Logistics Experts to Follow” by RateLinx. He founded the 2019 Atlanta Supply Chain Awards and also served on the 2018 Georgia Logistics Summit Executive Committee. He is a certified Lean Six Sigma Green Belt and holds the APICS Certified Supply Chain Professional (CSCP) credential. A Veteran of the United States Air Force, Scott volunteers on the Business Pillar for VETLANTA and has served on the boards for APICS Atlanta and the Georgia Manufacturing Alliance. Follow Scott Luton on Twitter at @ScottWLuton and learn more about Supply Chain Now here: https://supplychainnow.com/

 

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