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 of 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 (01:11):
Hello, and thanks for joining us. I’m your host Scott Luton, and welcome to this edition of this week in business history from March 1st, 2021. Thanks so much for listening to the show. Did you know that today begins women’s history month in the U S which stems from a resolution passed by Congress on March 1st, 1987. Before we get started today, I’d like to share just a couple of things. First. I’d be really grateful if any of our listeners were to write a review for this week in business history on your podcast platform, especially any Apple listeners that helps our podcast be found by others. That might also enjoy the intersection of business and history. So big, thanks in advance. Secondly, if you’re a big fan of startup tech and entrepreneurial journeys, check out my friend, Greg white and his tequila sunrise podcast. That’s T E C H Keela, sunrise, always entertaining and informative.
Scott Luton (02:11):
And you won’t be disappointed. Lastly, a big high five to a friend of the show, Jason Hoke, Jason produced the massively popular BoomTown podcast series, which was about the booms and busts of the Texas oil fields. Well, paramount plus has announced that it’s producing a new TV series based on BoomTown. How about that? Congrats to Jason and his team over at imperative entertainment for this incredible and exciting news. Okay, so let’s get back to this week in business history today, we’re going to be sharing a wide variety of historical moments and notable dates and business history. If you like a little bit of this and a little bit of that, then you found the right place here today. We have a list of four historical facts that you may have forgotten. And thanks again for joining us here today on this week in business history, powered by our team here at supply chain.
Scott Luton (03:02):
Now, so number one on our list, yes, let’s talk vacations. Hey, we all need a vacation after what we’ve endured in recent months, right? One of the most visited vacation spots in the United States is Yellowstone national park. In fact, over 4 million people visited the park in 2019, making it one of the top 10 parks in the U S geographically speaking. It’s located in the Western half of the country and the park touches Wyoming, Montana and Idaho on March 1st, 1872, us president Ulysses S grant signed the act of dedication, a law that created Yellowstone national park. Thus, you may have forgotten that Yellowstone is the oldest national park in the United States. And the second oldest in the entire world, as far as the oldest goes, many claimed that would be bogged con UE national park in Mongolia, which was established in 1778. Number two, on our list of four historical facts that you may have forgotten just how big was U S steel on March 2nd, 1901, JP Morgan pulled off quite a feat.
Scott Luton (04:14):
He brought together three companies under one roof, Carnegie steel company, federal steel company and national steel company, JP Morgan finance, the deal for around $500 million forming the United States steel company, better known as U S steel. You just may have forgotten that U S still will be the first American company to reach $1 billion in market valuation. Over the next 50 years, S still would become a global behemoth in 1943. It would have more than 340,000 employees for short period. It would be the largest steel producer and biggest ration in the entire world for almost 20 years from the 1940s to the 1980s, sixties, us still would sponsor the United States still our on CBS. Have you been to Walt Disney world in Florida while us still built both the contemporary resort in the Polynesian resort? However, as things would play out by late 20th century, only about one third of the company’s business will be steel.
Scott Luton (05:22):
As a company had diversified, a holding company was created to better manage all the assets and businesses. U S X corporation would be that holding company, but in 2002, us steel corporation will be spun off from USX corporation and get back to its roots, making steel. Here’s a fun fact. Did you know that 1940, the hapless and windless Pittsburgh pirates made a big decision to rename their football team. The Pittsburgh Steelers, two years later, they would complete their first winning season and they go on to become the first NFL team win six Superbowls. Number three on our list, the compact disc on March 2nd, 1983, the compact disc or CD for short would become available for the first time in the United States. The invention is largely attributed to James Russell, but you may have forgotten that two big companies partnered to really make it a reality. And that was when Sony and Phillips collaborated to co-develop the technology.
Scott Luton (06:29):
Did you ever play music on CDs? I certainly did. I got into music just as the CD was becoming wildly prevalent and the dominant medium for music. In fact, according to Ryan Wanita at digital trends, 1985 was a key turning point for the compact disc. And even more specifically, it was the dire straits album brothers in arms that helped make it happen. The group had recorded their album on the latest digital equipment and released it on CD in May, 1985, by 1988, CD sales would surpass vinyl and by 1991, the CD would finally catch up and surpass the cassette. My first CD and CD player were given to me for Christmas 1989 for my parents. The CD player was an early and simple Panasonic model and my first CD, well, my mom picked out candy mans. Ain’t no shame in my game album and filing number four on our list of four historical facts that you may have forgotten.
Scott Luton (07:31):
The first female member of us Congress on March 4th, 1917, Jeanette Pickering Rankin would become the first woman to hold federal office in the United States. She had been born near Missoula, Montana back in 1880 and graduated from the university of Montana in 1902. Rankin would spend considerable time after college in Washington, in California, where she would be campaigning for women’s rights and especially suffrage. She would return to her home state of Montana and win a 1916 campaign to the us house of representatives. Rankin would serve only one term initially, but was voted back into office in 1940. A lifetime pacifist Rankin was the only legislator to vote against the declaration of war on Japan. After the Pearl Harbor attack in 1941, Rankin was always active for a wide variety of causes. Be it women, consumers, workers, you name it. She was tireless and passionate. In fact, at the age of 87, she led more than 5,000 women in a March on Capitol Hill to oppose the Vietnam war.
Scott Luton (08:42):
The group called themselves the Jeanette Rankin brigade. Finally, we’ll wrap with a few notable birthdays this week, born March 5th, 1986, Michael Krieger in Sao Paulo, Brazil. He’d moved to California in 2004 to attend Stanford in a computer programming class Kreiger would meet Kevin Systrom in 2010. The duo would start Instagram before they resigned from the company. Just eight years later, the platform would have about 1 billion, monthly active users born March 6th, 1944, Mary Wilson in Greenville, Mississippi, the family would move to Detroit. A few years later, Wilson would meet Florence Ballard in the Brewster Douglas housing projects in Detroit, and the pair became best friends and they loved to sing. They met Diana Ross and Betty McCloughan and the early 1960s and the four friends named their singing group. The prom it’s one of their friends named smokey Robinson helped broker a meeting with the [inaudible] and Barry Gordy of Motown records.
Scott Luton (09:50):
Mr. Gordy agreed to sign them under one condition. They got to change the name and the legendary Supremes were born born March 7th, 1942, Tamra Fe LA Valley in international falls, Minnesota. She later become known globally in the 1980s as one half of the television evangelism dynamic duo of Jim and Tammy Faye Bakker. Well, that just about wraps up this edition of this week in business history. Big thanks to you. Our listener for tuning into the show each week. Be sure to check out a wide variety of industry thought leadership@supplychainnow.com Hey, friendly reminder. Of course you can find this week in business history, wherever you get your podcasts from and be sure to tell us what you think again, we’d love to have your review on behalf of the entire team here at this week in business history and supply chain. Now the Scott Luton wishing you all, nothing but the best. Hey, do good gift forward. Be the changes needed. And on that note, we’ll see. Next time here on this week in business history,
