- 1040
| May 21 | King Henry III gives Utrecht the Groninger currency. | Ref: 5 |
- 1288
| Jun 16 | Share dealings in oldest company recorded-Great Copper Mountain Mining Corp of Falun, Sweden. | Ref: 10 |
- 1583
| Jun 18 | Richard Martin of London takes out first life insurance policy, on William Gibbons. The premium was œ383 for 12 months. | Ref: 5 |
- 1600
| Dec 31 | British East India Company chartered. | Ref: 5 |
- 1659
| Feb 16 | First known check (£400) (on display at Westminster Abbey). | Ref: 5 |
- 1662
| Dec 06 | Oldest date of surviving Swedish 5 dalers, first paper money, first issued in July 1661. | Ref: 10 |
- 1690
| Feb 03 | The first paper money in America was issued by the colony of Massachusetts. (The currency was used to pay soldiers fighting a war against Quebec.) | Ref: 70 |
- 1694
| Jul 27 | The Bank of England received a royal charter as a commercial institution. | Ref: 70 |
- 1695
-
- 1720
| Mar 24 | The banking houses of Paris close in the wake of financial crisis. | Ref: 2 |
- 1739
| Dec 14 | Pierre du Pont, French economist, is born. | Ref: 70 |
- 1766
| Feb 13 | Thomas Malthus, Rookery Surrey UK, economist/demographer/population expert (Law of Malthus), is born. | Ref: 5 |
| Feb 17 | Thomas Malthus economist, demographer: The Malthusian Theory: population growth exceed production growth; is born. | Ref: 68 |
- 1769
| Jan 05 | Jean Baptiste Say French economist (Political Economics), is born. | Ref: 5 |
- 1772
| Jan 01 | First traveler's checks issued (London). | Ref: 5 |
| Apr 19 | David Ricardo economist, author: The High Price of Bullion, a Proof of the Depreciation of Bank Notes, Principles of Political Economy and Taxation; is born. | Ref: 4 |
- 1774
| Sep 13 | Tugot, the new controller of finances, urges the king of France to restore the free circulation of grain in the kingdom. | Ref: 2 |
- 1775
| Feb 22 | First US joint stock company (to make cloth) offers shares at £10. | Ref: 5 |
| Jun 22 | First Continental currency issued ($3,000,000). | Ref: 5 |
- 1778
| Apr 01 | Oliver Pollock, a New Orleans Businessman, creates the "$". | Ref: 5 |
- 1781
| Dec 31 | Bank of North America, first US bank opens. | Ref: 5 |
- 1782
| Jan 07 | The Bank of North America opened in Philadelphia, making it the first commercial bank in the United States. | Ref: 4 |
- 1783
| Jun 24 | Johann Heinrich von Thonen economist/geographer/farmer, is born. | Ref: 5 |
- 1785
| Jul 06 | Congress resolves US currency named "dollar" & adopts decimal coinage. | Ref: 5 |
- 1788
| Jul 19 | Prices plunge on the Paris stock market. | Ref: 2 |
- 1791
-
- 1792
| May 17 | Twenty-four brokers sat down under a tree located on what is now Wall Street to fix rates for commissions on stocks and bonds. From that agreement came what has been known since as the New York Stock Exchange or Wall Street. | Ref: 4 |
| Dec 15 | America's first life insurance policy issued by Insurance Co. of North America in Philadelphia. | Ref: 5 |
- 1793
| Apr 15 | Bank of England hands out first £5-note. | Ref: 5 |
| Dec 15 | Henry Charles Carey Philadelphia PA, economist (Principles of Poli Economy), is born. | Ref: 5 |
- 1797
| Feb 26 | First £1 and £2 bank notes issued in England. | Ref: 17 |
- 1799
| Apr 02 | Manhattan Company chartered, which became oldest bank in USA- Chase Manhattan. | Ref: 10 |
- 1810
| Oct 08 | James Wilson Marshall, discoverer of gold in California, is born. | Ref: 2 |
- 1811
| Feb 20 | Austria declares bankruptcy. | Ref: 5 |
- 1814
| Apr 05 | Netherlands Bank issues it's first banknotes. | Ref: 5 |
- 1816
| Dec 13 | The Provident Institution for Savings, the nation's first savings bank, is chartered for operation. | Ref: 3 |
- 1817
| Jan 07 | 2nd Bank of the United States opens. | Ref: 5 |
| Jul 05 | Britain issues its first gold sovereign coin. | Ref: 10 |
| Aug 06 | Pierre du Pont, French economist, dies at age 77. | Ref: 70 |
- 1819
| Jul 03 | The 1st savings bank in US (Bank of Savings in NYC) opens its doors. | Ref: 5 |
- 1823
| Sep 11 | David Ricardo economist, author: The High Price of Bullion, a Proof of the Depreciation of Bank Notes, Principles of Political Economy and Taxation; dies. | Ref: 4 |
- 1825
| Apr 27 | The first strike for the 10-hour work-day occurred by carpenters in Boston. | Ref: 59 |
- 1826
| Feb 03 | Walter Bagehot England, economist/sociologist, is born. | Ref: 5 |
- 1827
| Jan 01 | Dutch Trade Company NHM gets opium monopoly on Java. | Ref: 5 |
- 1830
| Mar 16 | New York Stock Exchange slowest day ever (31 shares traded). | Ref: 5 |
- 1831
| Jan 03 | First US building & loan association organized, Frankford PA. | Ref: 5 |
- 1834
| Jun 14 | World copper markets were thrown into turmoil following disclosure by Sumitomo Corporation that a rogue trader had hidden multi- billion-dollar losses. | Ref: 6 |
| Dec 16 | Leon Walras French economist (border use theory), is born. | Ref: 5 |
| Dec 23 | Thomas Malthus Rookery Surrey UK, economist/demographer/population expert (Law of Malthus), dies at age 68. | Ref: 68 |
| Dec 29 | Thomas Malthus economist, demographer: The Malthusian Theory: population growth exceed production growth; dies. | Ref: 4 |
- 1835
| Jul 03 | Children employed in the silk mills in Paterson, NJ went on strike for the 11 hour day/6 day week. | Ref: 59 |
| Dec 03 | First US mutual fire insurance company issues 1st policy (Rhode Island). | Ref: 5 |
- 1837
| Sep 20 | The Panic of 1837 closes Wall Street for 10 days while the damage is assessed. | |
- 1840
| Feb 23 | Carl Menger Austrian economist, is born. | Ref: 5 |
- 1843
| Dec 09 | P Paul Leroy-Beaulieu French economist (Economiste Frantais), is born. | Ref: 5 |
- 1844
| Dec 18 | Lujo [Ludwig J von] Brentano German economist, is born. | Ref: 5 |
- 1848
| Jan 24 | James W. Marshall finds gold at John A. Sutter's sawmill in California. The Gold Rush begins, but more so in 1849. | Ref: 2 |
| Aug 19 | The first report of the California gold strike was published in the New York Herald newspaper. | Ref: 4 |
| Dec 05 | President Polk triggered the Gold Rush of '49 by confirming that gold had been discovered in CA. | Ref: 5 |
- 1850
| Apr 25 | Paul Julius Reuter, uses 40 pigeons to carry stock market prices. | Ref: 5 |
| Jul 25 | Gold is discovered in the Rogue River in Oregon, extending the quest for gold up the Pacific coast. | Ref: 2 |
- 1851
| Aug 22 | Gold fields discovered in Australia. | Ref: 5 |
- 1852
| Aug 23 | Arnold Toynbee, English economist and social reformer, is born. | Ref: 70 |
| Aug 31 | John Neville Keynes, English philosopher and economist, is born. | Ref: 70 |
| Dec 31 | The richest year of the gold rush ends, with $81.3 million in gold produced. | Ref: 2 |
- 1854
| Apr 13 | Richard T Ely US economist (Hard Times), is born. | Ref: 5 |
- 1857
| Jul 30 | Thorstein Veblen, US economist and sociologist (The Theory of the Leisure Class), is born. | Ref: 2 |
- 1858
| Jan 22 | Betrice Potter Webb England, economist, is born. | Ref: 5 |
- 1859
| Jun 11 | Comstock silver load discovered near Virginia City, NV. | Ref: 5 |
| Jul 13 | Sidney Webb, English economist, is born. | Ref: 70 |
- 1861
| Jul 07 | The first U.S. paper money is printed. | Ref: 62 |
| Dec 30 | Banks in the United States suspend the practice of redeeming paper money for metal currency, a practice that would continue until 1879. | Ref: 2 |
- 1862
| Feb 05 | ‘Greenbacks' first issued by Abraham Lincoln. | Ref: 10 |
- 1863
| Mar 03 | Gold certificates (currency) authorized by Congress. | Ref: 5 |
| May 28 | Georg Adler German state economist, is born. | Ref: 5 |
| Jun 17 | Travelers Insurance Co of Hartford chartered (1st accident insurer). | Ref: 5 |
| Jun 20 | The National Bank of Philadelphia, PA received a charter from the U.S. Congress. It was the first bank to receive one. | Ref: 39 |
| Jun 29 | The very first 1st National Bank opens in Davenport, Iowa. | Ref: 5 |
- 1865
| Jan 19 | NV Suriname Bank established. | Ref: 5 |
| Jun 05 | The first safe-deposit vault was opened in NY City. Depositors paid $1.50 per year for each $1,000 stored within. | Ref: 4 |
| Nov 13 | US issues first gold certificates. | Ref: 5 |
| Dec 09 | The New York Stock Exchange threw open the doors on its new home, located at 10-12 Broad Street in lower Manhattan. | Ref: 3 |
- 1866
| May 11 | ‘Black Friday' in London causes commercial panic. | Ref: 10 |
- 1867
| Feb 27 | Irving Fisher US economist (compensating dollar), is born. | Ref: 5 |
| Jun 27 | Bank of California opens its doors | Ref: 5 |
| Dec 29 | First telegraph ticker used by a brokerage house, Groesbeck & Company, New York. | Ref: 5 |
- 1869
| Sep 24 | Black Friday: Thousands of business are ruined after Jay Gould and James Fisk try to corner the Gold market | Ref: 5 |
- 1870
| Jan 15 | Pierre S. DuPont, industrialist: Chairman of the Board of the DuPont Company; humanitarian, is born. | Ref: 4 |
| Feb 17 | Louis de Raet Belgian economist/founder (Flemish People's Party), is born. | Ref: 5 |
- 1871
| Jun 27 | The yen becomes the new form of currency in Japan. | Ref: 2 |
-
- 1872
| Jan 20 | California Stock Exchange Board organized | Ref: 5 |
| Oct 09 | The first mail order catalog was delivered. It was only one page but it worked. It was sent out by Mr. Aaron Montgomery Ward of the famous Montgomery Ward catalog and department stores. | Ref: 4 |
- 1873
| Jan 11 | First livestock market newspaper published, Drover's Journal, Chicago. | Ref: 5 |
| Sep 17 | Jay Cooke & Co. fails, causing a securities panic | Ref: 62 |
| Sep 18 | The panic of 1873 began with the failure of the firm of Jay Cooke, spread to the stock exchange, and eventually led to widespread unemployment. | |
| Sep 19 | Black Friday: Jay Cooke & Co fails, causing a securities panic. | Ref: 5 |
| Sep 20 | Panic sweeps NY Stock Exchange (railroad bond default/bank failure). | Ref: 5 |
- 1874
| Feb 04 | Robert Liefmann German economist (Unternehmersverbände), is born. | Ref: 5 |
| Jun 28 | The Freedmen's Bank, created to assist former slaves in the United States, closes. Customers of the bank lose $3 million. | Ref: 2 |
- 1875
| Jan 01 | Charles Rist French economist, is born. | Ref: 5 |
| Jun 05 | Pacific Stock Exchange formally opens. | Ref: 5 |
- 1877
| Mar 24 | Walter Bagehot English economist/critic/banker, dies at 51. | Ref: 5 |
| Sep 20 | Chase National Bank opens in NYC (later merges into Chase Manhattan). | Ref: 5 |
- 1878
| Feb 28 | US congress authorizes large-size silver certificate. | Ref: 5 |
| May 31 | US Congress accept decrease in dollar circulation. | Ref: 5 |
- 1879
| Dec 21 | Theodore Limperg business economist (substitute value), is born. | Ref: 5 |
| Dec 22 | Ralph Hawtrey Buckinghamshire England, economist (multiplier), is born. | Ref: 5 |
- 1881
| Aug 02 | The Federation of Organized Trades and Labor Unions is formed, later to be called the American Federation of Labor. | |
- 1882
| Jan 02 | Because of anti-monopoly laws, Standard Oil is organized as a trust. | Ref: 5 |
| Sep 18 | Pacific Stock Exchange opens (as the Local Security Board). | Ref: 5 |
| Sep 20 | M. Goldman & S. Sachs join to deal in securities; now Wall Street's only private partnership. | Ref: 10 |
- 1883
| Feb 08 | Joseph A Schumpeter Austria/US economist/minister of finance, is born. | Ref: 5 |
| Mar 09 | Arnold Toynbee, English economist and social reformer, dies at age 30. | Ref: 70 |
| Jun 05 | John Maynard Keynes, the British economist whose studies of unemployment and recession revolutionized 20th-century economics, is born in Cambridge, England. | Ref: 68 |
- 1884
| May 02 | François de Vries Dutch economist, is born. | Ref: 5 |
| Jul 03 | Mr. Dow and Mr. Jones publish their first average of US stocks in Customer's Afternoon Letter. | Ref: 10 |
- 1886
| Aug 31 | Crocker-Woolworth National Bank organized. | Ref: 5 |
- 1887
| Jan 04 | Edwin Emil Witte, US economist, author of the US Social Security Act of 1935, is born. | Ref: 17 |
- 1888
| Mar 08 | Stuart Chase, writer/economist: Men and Machines, Power of Words, A New Deal [inspired Franklin Delano Roosevelt’s New Deal]; is born in Somersworth NH. | Ref: 5 |
| Dec 11 | French Panama Canal company fails. | Ref: 5 |
- 1890
| Oct 15 | Alabama Penny Savings Bank organizes in Birmingham. | Ref: 5 |
- 1891
| Jan 17 | Walter Eucken German economist, is born. | Ref: 5 |
| Mar 10 | Jacob van Gelderen economist/sociologist/Dutch 2nd Chamber (SDAP), is born. | Ref: 5 |
| Aug 05 | First American Express traveller's check cashed. | Ref: 10 |
- 1892
| Dec 06 | E Werner von Siemens German industrialist (Siemens AG), dies at 75. | Ref: 5 |
- 1893
| Jan 02 | Financial Times of London begins publication on pink paper; erroneously forecasts brilliant economy. | Ref: 10 |
| Mar 03 | Columbian Isabella silver quarter authorized. | Ref: 5 |
| May 05 | The worst economic crisis in US history (to that time) happened on this day. Stock prices plummeted, major railroads went into receivership, 15,000 businesses went bankrupt and 15 to 20 percent of the work force was unemployed. Within seven months, over 600 banks had closed. | Ref: 4 |
| Jun 27 | The New York stock market crashed. | Ref: 70 |
- 1896
| May 26 | Dow Jones begins an index of 12 industrial stocks (closing is 40.94). | Ref: 5 |
| Aug 12 | Gold is discovered near Dawson City, Yukon Territory, Canada. After word reaches the United States in June of 1897, thousands of Americans head to the Klondike to seek their fortunes. | Ref: 2 |
| Aug 16 | (approximately) Skookum Jim, Tagish Charlie and George Carmack find gold in Rabbit Creek, a tributary of the Klondike River near Dawson City, Yukon Territory, Canada -- leading to the famous Klondike Gold Rush. | Ref: 4 |
| Aug 17 | A prospecting party discovered gold in Alaska, a finding that touched off the Klondike gold rush. | Ref: 70 |
| Sep 17 | A prospecting party discovered gold in Alaska, a finding that touched off the Klondike gold rush. | Ref: 6 |
| Dec 27 | Ewan Calague economist/statistician (Social Security Board), is born. | Ref: 5 |
- 1897
-
| Mar 29 | Japan adopts Gold Standard | Ref: 5 |
| Jul 14 | The Excelsior arrives in San Francisco carrying $750,000 in Klondike gold. (TWA, 1997) | Ref: 95 |
| Oct 08 | Journalist Charles Henry Dow, founder of the Wall Street Journal, begins charting trends of stocks and bonds. | Ref: 2 |
| Dec 18 | Fernand J Collin Belgian economist/banker, is born. | Ref: 5 |
- 1898
| Dec 22 | Lionel Charles Robbins Middlesex England, economist, is born. | Ref: 5 |
- 1900
| Mar 14 | U.S. currency act makes paper money redeemable in gold; Pres. McKinley signs gold standard bill. | Ref: 17 |
- 1901
| Jan 07 | New York stock exchange trading exceeds two million shares for the first time in history. | Ref: 2 |
| May 09 | Stocks plunge in largest single-day break on Wall Street since 1803. | Ref: 10 |
| Sep 09 | Workers laid the cornerstone for a new New York Stock Exchange building at 18 Broad Street. | |
- 1902
| Jan 24 | Oskar Morgenstern German/US economist, is born. | Ref: 5 |
| Mar 26 | Leslie Melville economist, is born. | Ref: 5 |
| May 15 | Portugal bankrupt by revolt in Angola. | Ref: 5 |
- 1903
| Apr 24 | New York Stock Exchange's new building at Broad and Wall Street dedicated. | Ref: 10 |
- 1904
| Jun 08 | A battle between the Colorado Militia and striking miners at Dunnville ended with six union members dead and 15 taken prisoner. Seventy-nine of the strikers were deported to Kansas two days later. | Ref: 59 |
| Oct 17 | Bank of Italy, later Bank of America, opened by Amadeo Peter Giannini in San Francisco. | Ref: 5 |
| Dec 16 | Edward Morris Bernstein economist, is born. | Ref: 5 |
| Dec 28 | Farmers in Georgia burn two million bales of cotton to prop up falling prices. | Ref: 2 |
- 1905
| Jan 01 | 9 hour work day for diamond miners (South Africa?). | Ref: 5 |
| Dec 24 | Industrialist Howard Hughes is born. | Ref: 4 |
- 1906
| Jan 12 | 1st time Dow Jones closes above 100 (100.26). | Ref: 5 |
- 1907
| Jan 02 | Edward Albert Radice economist, is born. | Ref: 5 |
| Feb 11 | William J. Levitt, U.S. businessman and community builder who led the postwar housing revolutions with his Levittowns, is born. | Ref: 2 |
| Feb 26 | Royal Oil & Shell merge to form British Petroleum (BP). | Ref: 5 |
| Mar 13 | New York stock market crash sets off the Panic of 1907. | Ref: 17 |
| Oct 16 | Run on Knickerbocker Trust Company by thousands of frightened depositors starts Panic of 1907. | Ref: 10 |
- 1908
| May 30 | Aldrich Vineland Currency Act forerunner to Federal Reserve System. | Ref: 5 |
| Oct 15 | John Kenneth Galbraith writer (Affluent Society-1958 Hillman Award), is born. | Ref: 5 |
| Dec 16 | First credit union in US forms (Manchester NH). | Ref: 5 |
- 1909
| Dec 01 | The Pennsylvania Trust Company of Carlisle, PA became the first bank in the U.S. to offer a Christmas Club account. It encouraged customers to set aside money for the holiday. | Ref: 4 |
| Dec 02 | J.P. Morgan acquires majority holdings in Equitable Life Co. This is the largest concentration of bank power to date. | Ref: 2 |
- 1910
| Jan 25 | Léon Walras French economist (School of Lausanne), dies at 75. | Ref: 5 |
| Dec 19 | Rayon first commercially produced, Marcus Hook PA. | Ref: 5 |
| Dec 31 | US tobacco industry produced 9 billion cigarettes in 1910. | Ref: 5 |
- 1911
| Apr 24 | Karl O Schiller German economist (Minister of Economics), is born. | Ref: 5 |
| Jun 01 | First US group insurance policy written, Passaic, NJ. | Ref: 5 |
| Jun 04 | Gold is discovered in Alaska's Indian Creek. | Ref: 2 |
| Aug 16 | Ernst Schumacher, English economist, is born. | Ref: 70 |
| Dec 02 | A Chicago "slugger," paid $50 by labor unions for every scab he "discouraged," described his job in an interview: "Oh, there ain't nothin' to it. I gets my fifty, then I goes out and finds the guy they wanna have
slugged. I goes up to `im and I says to `im, `My friend, by way of meaning no harm,' and then I gives it to `im -- biff! in the mug. Nothin' to it." | Ref: 59 |
- 1912
| Apr 18 | The National Guard was called out against striking West Virginia coal miners. | Ref: 59 |
| Jun 04 | Massachusetts passes first US minimum wage law. | Ref: 5 |
| Sep 08 | Leo Cherne NYC, economist/commentator (All Star News), is born. | Ref: 5 |
- 1913
| Feb 17 | First minimum wage law in US takes effect (Oregon). | Ref: 5 |
| Feb 24 | Richard Murphey Goodwin economist, is born. | Ref: 5 |
| Dec 23 | The Federal Reserve Act was signed into law by President Woodrow Wilson. It established 12 Federal Reserve Banks. | Ref: 4 |
- 1914
| Jan 06 | The stock brokerage firm of Merrill Lynch founded. | Ref: 5 |
| Sep 21 | John Kluge Chemnitz Germany, media CEO (Metromedia)/billionaire, is born. | Ref: 5 |
| Nov 13 | A Western Federation of Miners strike is crushed by the militia in Butte, Montana. | Ref: 59 |
- 1915
| Mar 01 | Johannes J "Joop" Klant Netherlands/South Africa economist (Madame Sans Gêne), is born. | Ref: 5 |
| May 15 | A.T.&T. becomes first corporation to have 1 million stockholders. | Ref: 5 |
| Aug 27 | Walter W Heller economist (Old Myths & New Realities), is born. | Ref: 5 |
- 1916
| Oct 07 | Walt W Rostow economist (Politics & Stages of Growth), is born. | Ref: 5 |
| Dec 09 | P Paul Leroy-Beaulieu French economist (Economist France), dies at 73. | Ref: 5 |
| Dec 19 | Suriname Bauxite Company forms in Paramaribo. | Ref: 5 |
- 1917
| Dec 31 | Dutch Social-democratic trade union NVV counts 159,450 members. | Ref: 5 |
- 1918
| Dec 05 | Oil refinery on Curaçao opens. | Ref: 5 |
- 1920
| Jan 10 | Silver reaches record $1.37 an ounce. | Ref: 5 |
- 1921
| Feb 26 | Carl Menger Austrian economist, dies at 81. | Ref: 5 |
| Apr 18 | Junior Achievement, created to encourage business skills in young people, is incorporated in Colorado Springs CO. | Ref: 5 |
| Dec 29 | Sears, Roebuck President, Julius Rosenwald, pledges $20 million of his personal fortune to help Sears through hard times. | Ref: 2 |
- 1923
| Jan 08 | Typography strike in Amsterdam. | Ref: 5 |
| Oct 11 | German mark falls to 10 billion per œ, 4 billion per $. | Ref: 5 |
| Nov 05 | As European inflation soars, one loaf of bread in Berlin is reported to be worth about 140 billion German marks. | Ref: 2 |
| Nov 20 | Beryl Sprinkel, Missouri, economist (Council of Economic Advisers), is born. | Ref: 5 |
| Nov 29 | An international commission headed by American banker Charles Dawes is set up to investigate the German economy. | Ref: 2 |
| Dec 08 | Salary & price freeze in Germany. | Ref: 5 |
- 1924
| Mar 21 | Mass Investors Trust becomes first mutual fund set up in US. | Ref: 5 |
| Jun 14 | A San Pedro, California IWW (International Waterfront Workers) hall was raided; a number of children were scalded when the hall was demolished. | Ref: 59 |
| Dec 24 | Willem Drees economist/Dutch politician (DS'70), is born. | Ref: 5 |
- 1925
| Apr 03 | Great Britain goes back to gold standard. | Ref: 5 |
| Apr 28 | Netherlands & Great Britain return to gold standard. | Ref: 5 |
| Apr 29 | Netherlands returns to gold standard. | Ref: 5 |
| Jul 30 | Unemployment Insurance Act passed in England. | Ref: 5 |
- 1926
-
| Mar 15 | Belgium's "black monday", franc falls. | Ref: 5 |
| Apr 11 | Flemish Economic Covenant (VEV) forms in Ghent. | Ref: 5 |
- 1927
| Jan 13 | A woman takes a seat on the NY Stock Exchange breaking the all-male tradition. | Ref: 2 |
| May 02 | International Economic Conference (52 countries including USSR) opens. | Ref: 5 |
| May 13 | "Black Friday" signals the total collapse of the German economic system | Ref: 5 |
- 1928
| Sep 05 | Former Federal Reserve Board chairman Paul A. Volcker is born. | Ref: 68 |
| Oct 01 | Dow Jones Industrial List of stocks expanded to 30. | Ref: 10 |
- 1929
| Jan 25 | Members of the New York Stock Exchange ask for an additional 275 seats. | Ref: 2 |
| Jun 15 | First time NY curb stock exchange transacts more business than NY Exch. | Ref: 5 |
| Aug 03 | Thorstein Veblen economist, author: The Theory of the Leisure Class; dies. | Ref: 4 |
| Sep 03 | The Dow Jones industrial average closed at 381.17. It was the peak of the bull market of the 1920s. | Ref: 4 |
| Oct 24 | This day became known as Black Thursday after Wall Street investors panicked and ordered their stock brokers to sell, sell, sell! Nearly 13 million shares traded hands and stock prices plummeted. Many stocks recovered late in the afternoon, but the stage had been set for the October 29th stock market crash -- and the beginning of the Great Depression. | Ref: 4 |
| Oct 28 | Biggest one day loss as Dow Jones plunges 12.8% as tomorrow starts Great Depression | Ref: 10 |
| Oct 29 | Black Tuesday--the most catastrophic day in stock market history, the herald of the Great Depression. 16 million shares were sold at declining prices. By mid-November $30 billion of the $80 billion worth of stocks listed in September will have been wiped out. | Ref: 2 |
| Oct 30 | It was announced that John D. Rockefeller was buying sound, common stocks to help stem the massive sell-off going on at the NY Stock Exchange. It didn’t help. More than 10.7 million shares had been dumped the previous day and the market was in a free fall. The Great Depression was on and not even a Rockefeller could stop it. | Ref: 4 |
- 1930
| Jan 01 | Jurgens & Van den Berg merge with Lever Brothers to form Unilever. | Ref: 5 |
| Apr 14 | Over 100 farm workers were arrested for their unionizing activities in Imperial Valley, California. Eight were subsequently convicted of `criminal syndicalism.' | Ref: 59 |
| Nov 03 | The Bank of Italy becomes the Bank of America. | Ref: 5 |
| Dec 11 | As the economic crisis grows, the Bank of the United States closes its doors. | Ref: 2 |
| Dec 31 | US tobacco industry produced 123 billion cigarettes in 1930. | Ref: 5 |
- 1931
| Apr 16 | Piet de Visser economist/Dutch MP (PvdA), is born. | Ref: 5 |
| May 11 | Credit-Anstalt, Austria's largest bank, fails beginning financial collapse of Central Europe. | Ref: 5 |
| Sep 20 | British sterling taken off gold standard. | Ref: 10 |
| Sep 21 | Britain goes off the gold standard. | Ref: 5 |
| Dec 11 | Japan leaves the Golden Standard. | Ref: 5 |
| Dec 28 | Georg "Org" Marais South African economist/underminister of Finance, is born. | Ref: 5 |
- 1932
| Mar 08 | Depression Wall St. bottoms out at 41.22; will not recover high of 381 for another 25 yrs. | Ref: 10 |
| May 02 | Kees de Galan Dutch economist, is born. | Ref: 5 |
| Jul 08 | Depression bottoms out as Dow Jones Average slips to record 41.22 having fallen 89% in 3 years. | Ref: 10 |
| Aug 26 | In a move to offer some relief from the Great Depression, the controller of currency announces a temporary halt on foreclosures of first mortgages. | |
- 1933
| Apr 19 | FDR announces US will leave the gold standard. | Ref: 5 |
| Apr 25 | US & Canada drop Gold Standard. | Ref: 5 |
| Jun 05 | The United States went off the gold standard. | Ref: 5 |
| Jun 06 | US Employment Service created. | Ref: 5 |
| Oct 10 | Dreft, the first synthetic laundry detergent, went on sale. Ten years later, Dreft was the sponsor of The Dreft Star Playhouse. | Ref: 4 |
| Dec 25 | Belgian Working people's party accept Henry de Mans Plan of Labor. | Ref: 5 |
- 1934
| Jan 01 | Federal Deposit Insurance Corp (US bank guarantor) effective. | Ref: 5 |
| Jan 01 | International Telecommunication Union established. | Ref: 5 |
| Jan 31 | FDR devalues the dollar in relation to gold at $35 per ounce. | Ref: 5 |
| Mar 29 | Bank of Travail in Belgium, socialist worker's movement bankrupt. | Ref: 5 |
| Apr 13 | 4.7 million US families report receiving welfare payments. | Ref: 5 |
| Jun 06 | President Franklin Roosevelt signs the Securities Exchange Act, establishing the Securities and Exchange Commission; led by Joseph Kennedy. | Ref: 2 |
| Jun 26 | FDR signs Federal Credit Union Act, establishing Credit Unions | Ref: 5 |
| Jun 27 | Federal Savings & Loan Association created. | Ref: 5 |
| Jul 03 | The first payment by the US Federal Deposit Insurance Corporation (FDIC) was made to Lydia Losiger of Fon du Lac Bank, East Peoria, IL. | Ref: 4 |
| Oct 01 | The New York Stock Exchange (NYSE) registers with the Securities and Exchange Commission (SEC) as a "national securities exchange". (WSJ, p C1, 9/16/2003) | Ref: 33 |
- 1935
| Apr 08 | Edwin Cannan economist, dies. | Ref: 5 |
| Jul 25 | Adnan Khashnoggi, Saudi billionaire/arms dealer, is born. | Ref: 68 |
| Oct 18 | John B Coleman Boston, hotel magnate (Ritz Carlton), is born. | Ref: 5 |
- 1936
| Feb 13 | First social security checks are put in the mail. | Ref: 2 |
- 1937
| Mar 06 | Insider trader Ivan Boesky is born. | Ref: 5 |
| Apr 04 | J Hans van den Doel economist/Dutch MP (PvdA), is born. | Ref: 5 |
| Jul 30 | The American Federation of Radio Artists (AFRA) was organized. It was part of the American Federation of Labor. The union was for all radio performers except musicians. The union later became The American Federation of Television and Radio Artists (AFTRA) to include TV folk, as well. | Ref: 4 |
- 1938
| Jan 11 | Fischer S Black Jr financial theorist, is born. | Ref: 5 |
| Jan 21 | Dutch government starts obligatory unemployment insurance. | Ref: 5 |
| Feb 16 | US Federal Crop Insurance program authorized. | Ref: 5 |
| Mar 15 | Oil is discovered in Saudi Arabia, transforming a virtual dust bowl into a nation so wealthy that King Faisal's main problem became what to do with too much money. | Ref: 3 |
| Dec 31 | Dutch national debt hits ƒ3,986,629,805.70. | Ref: 5 |
- 1939
| Nov 25 | Martin Feldstein economist (1977 John Bates Clark Medal), is born. | Ref: 5 |
| Dec 31 | Dutch national debt hits ƒ4,218,553,180.99. | Ref: 5 |
- 1940
| May 14 | Jacob van Gelderen economist/sociologist/SDAP-2nd-Chamber, dies at 49. | Ref: 5 |
| Dec 02 | A seat on the NY Stock Exchange would have set you back $33,000, the lowest price for a seat since 1899, when they sold for the bargain price of just $29,500. | Ref: 4 |
- 1941
| Mar 21 | Robert Liefmann German economist (Kartelle und Trusts), dies at 67. | Ref: 5 |
| May 19 | Werner Sombart Marxist economist (Händler und Heroes), dies at 78. | Ref: 5 |
- 1942
| Feb 23 | Colin Sanders founder (Solid State Logic), is born. | Ref: 5 |
| Oct 03 | President Roosevelt established the Office of Economic Stabilization and authorized controls on farm prices, rents, wages and salaries. | Ref: 70 |
- 1943
| Jun 09 | The US Congress authorized legislation giving the green light to a withholding tax on payrolls -- the pay-it-as-you-make-it income tax. | Ref: 4 |
- 1944
| Dec 20 | Archbishop De Young & bishop Huibers condemn black market. | Ref: 5 |
- 1945
| Oct 03 | World Federation of Trade Unions formed; CIO a member. | Ref: 5 |
- 1946
| Apr 13 | Belgian premier Acker proclaims wage & price freeze over. | Ref: 5 |
| Apr 21 | John M Keynes, English economist (How to pay for the war?), dies at 62. | Ref: 68 |
- 1947
| Mar 01 | International Monetary Fund began operations. | Ref: 5 |
| Apr 29 | Irving Fisher US economist, dies at 80. | Ref: 5 |
| Oct 13 | Sidney Webb, English economist, dies at age 88. | Ref: 4 |
| Oct 17 | Charles A Ingene macromarketing researcher, is born. | Ref: 5 |
| Nov 25 | The Big Four meet to discuss the German and European economy. | Ref: 2 |
- 1948
| Mar 30 | M A King FBA, economist, is born. | Ref: 5 |
| Apr 16 | Organization for European Economic Cooperation (EEC) forms in Paris France. | Ref: 5 |
-
| Aug 16 | The Israeli pound becomes legal tender. | Ref: 5 |
| Nov 17 | Britain's House of Commons votes to nationalize steel industry. | Ref: 5 |
| Dec 21 | Willem Vermeend Dutch economist/UnderSecretary of Finance (1994-), is born. | Ref: 5 |
- 1949
| Nov 15 | John Neville Keynes, English philosopher and economist, dies at age 97. | Ref: 70 |
- 1950
| Mar 01 | USSR issues golden rubles. | Ref: 5 |
| Mar 20 | Walter Eucken German economist, dies at 59. | Ref: 5 |
| May 13 | Diner's Club issues its first credit cards. | Ref: 5 |
- 1951
| Mar 23 | Wages in France increase 11%. | Ref: 5 |
| Apr 03 | Johannes C Kielstra Dut economist/Governor (Suriname 1933-44), dies at 72. | Ref: 5 |
| Apr 18 | France, West Germany & Benelux form European Steel & Coal Community. | Ref: 5 |
| May 15 | AT&T becomes first corporation to have one million stockholders. | Ref: 5 |
- 1952
| Apr 15 | Franklin National Bank issues first bank credit card. | Ref: 5 |
| Dec 04 | Walter P Reuther chosen chairman of CIO. | Ref: 5 |
- 1953
| Feb 06 | US controls on wages & some consumer goods were lifted. | Ref: 5 |
| Mar 28 | "Stock exchanges open, dikes closed" raises ƒ5,200,000. | Ref: 5 |
- 1954
| Jan 30 | Belgium ends trade agreement with USSR. | Ref: 5 |
| Mar 22 | The London gold market reopens for the first time since 1939. | Ref: 2 |
- 1955
| Jan 13 | Chase National Bank (founded in 1877) and the Bank of Manhattan Company (founded in 1799 as a water company) agreed to merge, becoming the second largest bank in the U.S. | Ref: 4 |
| Sep 26 | The New York Stock Exchange suffers a $44 million loss, the worst price decline since 1929. | Ref: 2 |
| Dec 12 | The largest philanthropic act in the world was announced by the Ford Foundation which gave $500,000,000 to private hospitals, colleges and medical schools. | Ref: 4 |
| Dec 31 | General Motors became the first U.S. corporation to earn more than one billion dollars in a single year. The company’s annual report to stockholders listed a net income of $1,189,477,082 in revenues. | Ref: 4 |
- 1956
| Mar 12 | Dow Jones closes above 500 for first time (500.24). | Ref: 5 |
| Apr 17 | Premium Savings Bonds introduced in Great Britain. | Ref: 5 |
- 1957
| Jan 02 | The San Francisco and Los Angeles stock exchanges merge | Ref: 62 |
| Mar 25 | The Treaty of Rome establishes European Economic Community (Common Market). | Ref: 5 |
| Oct 13 | German Dem Rep recalls the East Mark & issues new currency. | Ref: 5 |
- 1958
| Jan 01 | European Economic Community (Common Market) starts operation. | Ref: 5 |
| May 02 | Alfred Weber German economist/sociologist, dies at 89. | Ref: 5 |
-
- 1959
| Mar 07 | Arthur C Pigou English economist (Economics of Welfare), dies. | Ref: 5 |
- 1960
| Jan 04 | European Free Trade Association forms in Stockholm, made up of nations outside the Common Market. | Ref: 5 |
| Jan 06 | Erik Lindahl Swedish economist (Scope & Means), dies at 68. | Ref: 5 |
| May 15 | Taxes took 25% of earnings in US. | Ref: 5 |
| May 20 | Edwin Emil Witte, US economist, author of the US Social Security Act of 1935, dies. | Ref: 17 |
| Jul 15 | The NY World-Telegram reported that the average white-collar worker would earn a lifetime income of $200,000 (forty years at $5,000 per year). | Ref: 4 |
| Oct 25 | The Bulova Watch Company introduced its high-tech Accutron electronic wrist watch. Ten years after it was introduced (as the watch the astronauts wear), it sold in jewelry stores for about $200. | Ref: 2 |
- 1961
| Jan 01 | Largest check issued, National Bank of Chicago to Sears ($960.242 billion). | Ref: 5 |
| Jan 01 | The farthing ceases to be legal tender. | Ref: 10 |
| Jan 24 | Lazard Brithers Ltd draw a check for $334,867,807.68. | Ref: 5 |
| Mar 06 | Dutch guilder revalued 4.74%. | Ref: 5 |
| Mar 13 | Old type, black & white notes cease to be legal tender. | Ref: 5 |
| Dec 19 | British government begins decimal coin system. | Ref: 5 |
- 1962
| Apr 13 | US steel industry forced to give up price increases. | Ref: 5 |
| Apr 15 | US national debt above $300,000,000,000. | Ref: 5 |
| May 28 | US stock market drops $20.8 B in 1 day. | Ref: 5 |
- 1963
| Jan 01 | G Woods succeeds Eugene Black as president of the World Bank. | Ref: 5 |
| Aug 13 | Custom agents confiscate 21 gold coins from Witte Museum. | Ref: 5 |
| Nov 15 | Argentina voids all foreign oil contracts. | Ref: 2 |
- 1964
| Jan 15 | Teamsters negotiate first national labor contract. | Ref: 5 |
- 1965
| Jan 07 | France announces it will convert $150 million of its currency to gold. | Ref: 5 |
| Nov 18 | American Stock Exchange admits women members for the first time. | Ref: 10 |
| Dec 17 | British government proclaims end of oil-embargo against Rhodesia. | Ref: 5 |
| Dec 22 | Belgian government shuts down 6 coal mines. | Ref: 5 |
- 1966
| Feb 09 | Dow-Jones Index hits record 995 points. | Ref: 5 |
| Jul 12 | US Treasury announces it will buy mutilated silver coins at silver bullion price at Philadelphia & Denver mints. | Ref: 5 |
- 1967
| May 18 | Silver hits record $1.60 an ounce in London. | Ref: 5 |
| Jun 27 | First mechanical cash dispenser begins operating at Barclay's Bank's Enfield office in London. | Ref: 10 |
| Jul 18 | Silver hits record $1.87 an ounce in NY. | Ref: 5 |
| Nov 08 | Silver hits record $1.951 an ounce in London. | Ref: 5 |
| Nov 18 | British government devalues œ from US equivalent of $2.80 to $2.40. | Ref: 5 |
| Nov 22 | Silver hits record $2.17 an ounce in NY. | Ref: 5 |
| Nov 27 | Gold pool nations pledge support of $35 per ounce gold price. | Ref: 5 |
| Nov 27 | Charles DeGaulle vetoes Great Britain's entry into the Common Market again. | Ref: 2 |
- 1968
| Jan 26 | Giant bank merger in Britain; National Provincial and Westminster become Natwest. | Ref: 10 |
| Mar 15 | The U.S. mint halts the practice of buying and selling gold. | Ref: 2 |
| Mar 17 | 2-tiered gold price negotiated in Washington DC by US & 6 European nations. | Ref: 5 |
| Mar 18 | Congress repeals requirement for a gold reserve. | Ref: 5 |
| Mar 20 | President Lyndon Johnson signs a bill removing gold backing from US paper money. | Ref: 5 |
| Apr 23 | First decimal coins issued in Britain (5 & 10 pence). | Ref: 5 |
| May 02 | Gold reaches then record high ($39.35 per ounce) in London. | Ref: 5 |
| Jun 24 | Deadline for redeeming silver certificate dollars for silver bullion. | Ref: 5 |
- 1969
| Mar 05 | Gold reaches then record high ($47 per ounce) in Paris France. | Ref: 5 |
- 1970
| Apr 22 | Henry Ross Perot, a future candidate for the U.S. Presidency, did not have a good day. Perot, of Dallas, TX, reportedly lost $450 million in the stock market. | Ref: 4 |
| Dec 04 | Unemployment in US increases to 5.8%. | Ref: 5 |
| Dec 12 | Polish government proclaims price rise. | Ref: 5 |
| Dec 31 | President Allende nationalizes Chilean coal mines. | Ref: 5 |
- 1971
| Feb 03 | OPEC decides to set oil prices without consulting buyers. | Ref: 2 |
| Feb 15 | After 1200 years Britain abandons 12-shilling system for decimal. | Ref: 5 |
| Mar 25 | European council accepts Mansholt plan laying off 5 million farmers. | Ref: 5 |
| Apr 01 | United Kingdom lifts all restrictions on gold ownership. | Ref: 5 |
| Dec 18 | US dollar devalued 7.9% in Holland ($1=ƒ3,245). | Ref: 5 |
- 1972
| Jun 06 | Gold hits record $60 an ounce in London. | Ref: 5 |
| Aug 02 | Gold hits record $70 an ounce in London. | Ref: 5 |
| Aug 22 | Dow Jones Industrial Average closes above 1,000 points for the first time. | Ref: 70 |
| Nov 14 | The Dow Jones Industrial Average closes above 1000 for the first time in its 76-year history, at 1003.16. (XDG, p 4A, 11/14/2000) | Ref: 83 |
| Nov 19 | Dow Jones Industrial Average breaks 1,000 level for the first time. | Ref: 10 |
- 1973
| Jan 01 | Britain, Ireland & Denmark become 7th-9th members of Common Market. | Ref: 5 |
| Jan 01 | West African Economic Community formed (Benin, Ivory Coast, Mali, Mauritania, Niger, Senegal, Upper Volta). | Ref: 5 |
| Feb 13 | US dollar devalues 10%. | Ref: 5 |
| Feb 23 | Gold goes up $10 overnight to record $95 an ounce in London. | Ref: 5 |
| Mar 06 | President Richard Nixon imposes price controls on oil and gas. | Ref: 2 |
| Apr 01 | Japan allows its citizens to own gold. | Ref: 5 |
| May 14 | Gold hits record $102.50 an ounce in London. | Ref: 5 |
| Nov 19 | New York stock market takes sharpest drop in 19 years. | Ref: 2 |
- 1974
| Jan 03 | Gold hits record $121.25 an ounce in London. | Ref: 5 |
| Jan 08 | Gold hits record $126.50 an ounce in London. | Ref: 5 |
| Jan 08 | Silver hits record $3.40 an ounce in New York. | Ref: 5 |
| Jan 21 | Gold hits record $161.31 an ounce in London. | Ref: 5 |
| Jan 21 | Silver hits record $3.97 an ounce in London. | Ref: 5 |
| Feb 10 | Silver futures hit record $4.81½ an ounce in London. | Ref: 5 |
| Feb 21 | Silver hits record $5.96½ an ounce in London. | Ref: 5 |
| Feb 26 | Gold hits record $188 an ounce in Paris. | Ref: 5 |
| Apr 03 | Gold hits record $197 an ounce in Paris. | Ref: 5 |
| Aug 14 | Congress authorizes US citizens to own gold. | Ref: 5 |
| Dec 09 | Dow Jones index hits 570.01. | Ref: 5 |
| Dec 10 | European Economic Community calls for a European Parliament. | Ref: 5 |
| Dec 31 | Private U.S. citizens were allowed to buy and own gold for the first time in more than 40 years. | Ref: 70 |
- 1975
| Feb 28 | EG signs accord of Lomé with 46 developing countries. | Ref: 5 |
| Mar 21 | Ralph Hawtrey economist (multiplier), dies at 95. | Ref: 5 |
- 1976
| Jan 01 | Venezuela nationalizes oil fields. | Ref: 5 |
| Jan 08 | The International Monetary Fund agrees to a monetary reform that would permit currencies to "float" in the world market. | Ref: 17 |
| Mar 01 | First National City Bank changes name to Citibank, holding company calls itself Citicorp. | Ref: 10 |
| Mar 05 | British £ falls below $2 for first time. | Ref: 5 |
| Apr 27 | Arabic Monetary Fund established in Abu Dhabi. | Ref: 5 |
| May 19 | Gold ownership legalized in Australia. | Ref: 5 |
- 1977
| Jan 07 | A 347.5% cost of living rise is reported during 1976 in Argentina. | Ref: 17 |
| Mar 01 | Bank of America adopts the name VISA for their credit cards. | Ref: 5 |
| Sep 04 | Ernst Schumacher, English economist, dies at age 66. | Ref: 70 |
- 1978
| Apr 03 | European market & China signs trade agreement. | Ref: 5 |
| Apr 17 | 63,500,000 shares traded on New York stock exchange (record). | Ref: 5 |
| Jul 28 | Price of gold tops $200-an-oz level for first time. | Ref: 5 |
| Oct 03 | Gold hits record $223.50 an ounce in London. | Ref: 5 |
| Dec 05 | European Union establishes EMS, European Monetary System. | Ref: 5 |
| Dec 13 | The Philadelphia Mint struck the first Susan B. Anthony dollar coins, with 1979 dates and the first “P” mintmark since the silver nickels of World War II. Denver production began on January 9, 1979, and San Francisco minting began on February 2, 1979. The Susan B. Anthony dollar, the first coin to honor a woman, was not a hit with the public for several reasons, most importantly because it was often mistaken for a quarter, which was about and eighth of an inch smaller in diameter. | Ref: 4 |
| Dec 17 | OPEC raises oil prices 18%. | Ref: 5 |
- 1979
| Jan 21 | Price of gold increases to record $875 troy ounce. | Ref: 5 |
| Mar 13 | European Monetary System is established, ECU created. | Ref: 5 |
| Mar 16 | Jean Monnet French economist/CEO (ECSC), dies at 90. | Ref: 5 |
| Jul 18 | Gold hits record $303.85 an ounce in London. | Ref: 5 |
| Sep 29 | Gold hits record $400.20 an ounce in Hong Kong. | Ref: 5 |
| Nov 26 | Oil deposits equaling OPEC reserves are found in Venezuela. | Ref: 2 |
| Dec 12 | Gold hits record $462.50 an ounce. | Ref: 5 |
- 1980
| Jan 03 | Gold hits record $634 an ounce. | Ref: 5 |
| Jan 14 | Gold hits a record price of $802 per ounce. | Ref: 3 |
| Jan 18 | Gold reaches $1,000 an ounce. | Ref: 5 |
| Jan 21 | Gold hits record $850 an ounce. | Ref: 5 |
| Mar 01 | CTUC, Commonwealth Trade Union Council, established. | Ref: 5 |
- 1981
| Jan 01 | Greece is 10th country to join European Economic Community. | Ref: 5 |
| Jul 06 | The Dupont Company of Wilmington, DE announced an agreement to purchase Conoco, Inc. (Continental Oil Co.) for seven billion dollars. The merger was the largest in corporate history (to that time). Bargaining continued until a final figure of $7.7 billion closed the deal for the chemical and oil giants. The merger created the seventh largest industrial company in the US | Ref: 4 |
| Oct 23 | US national debt hits $1 trillion. | Ref: 5 |
| Nov 19 | U.S. Steel agrees to pay $6.3 million for Marathon Oil. | Ref: 2 |
| Dec 31 | Netherlands unemployment stands at record 475,000. | Ref: 5 |
- 1982
| Feb 18 | Mexico devalues the peso by 30 percent to fight an economic slide. | Ref: 2 |
| Feb 28 | AT&T looses record $7 BILLION for fiscal year ending on this day. | Ref: 5 |
| Aug 12 | The Dow Jones industrial average hit bottom, closing at 776.92. The next morning, a bull market began that lasted until the 500-point crash of 1987. | Ref: 4 |
| Aug 18 | The stock market set a new trading record. 132,690,000 shares on the New York Stock Exchange were traded. It was the most activity in a single day for stockbrokers and traders. | Ref: 4 |
| Nov 03 | The Dow Jones industrial average surged 43.41 points, marking the greatest single day gain in the history of the NY Stock Exchange to date. | Ref: 4 |
| Nov 30 | The Dow Jones industrial average jumped a mighty 36.43 points. It was the fourth largest gain in the stock market’s 87-year history. | Ref: 4 |
- 1983
| Jan 06 | Argentina announces the issuance of a new peso note after years of triple digit inflation made the old currency virtually useless. | Ref: 17 |
| Feb 24 | The Dow Jones industrial average closed above the 1100 mark for the first time. The stock market moved 24.87 points on this day to close at 1121.81. The 1100 plateau had been reached in 1972, but a rally was not able to keep the benchmark high at that point at the end of the trading day. | Ref: 4 |
| Mar 12 | Jevsei G Liberman Ukraine economist (Plan, profit, bonus), dies at 85. | Ref: 5 |
| Apr 21 | £1 coin introduced in United Kingdom. | Ref: 5 |
| Apr 26 | For the first time, the Dow Jones industrial average moved over the 1200 mark, just two months after smashing the 1100 barrier. | Ref: 4 |
| Jul 22 | World's largest bond crash-Washington Power System defaults on $2 billion. | Ref: 10 |
| Jul 25 | Washington Public Power Supply System defaulted $2.25 billion. | Ref: 5 |
| Nov 29 | The Dow Jones industrial average closed at 1287.20 -- a new record. | Ref: 4 |
- 1984
| Jan 01 | The last trade barriers for industrial goods between member nations of the European Community and the European Free Trade Association are officially removed. The elimination of quotas and tariffs on finished products creates a 17-country free trade area. | Ref: 17 |
| Jan 06 | Getty Oil announced a bid to take over Texaco Oil for an estimated $9.9 billion. The offer topped the previous record takeover bid by the DuPont Company for Conoco Oil in 1981 ($7.8 billion). 440 International recently turned down a $16.2 billion takeover bid by Acme Banana. They wanted to change this feature to Those Were the Peels and we thought that would be a big slip-up (argh! stop! ok...) | Ref: 4 |
| Aug 03 | Wall Street ended its best week (to that time) with a jump in the Dow Jones blue-chip average of 87.46. A one-day volume record was also set as 236.57 million shares changed hands, keeping brokers on the trading floor very busy. A total of 72.9 million shares were traded in the first hour alone. | Ref: 4 |
| Aug 06 | 203.05 million shares traded in NY Stock Exchange. | Ref: 5 |
| Sep 07 | American Express Co. issued the first of its Platinum charge cards. Customers paid $250 a year and were able to charge $10,000 -- or more. | Ref: 4 |
| Sep 17 | Oil heir Gordon P. Getty, with a fortune of $4.1 billion dollars, was named the richest person in the U.S. There were a dozen billionaires in the U.S. at the time. | Ref: 4 |
| Nov 06 | For the first time in 193 years, the NY Stock Exchange remained open during a presidential election day. Traders shouted “Boo! Boo! Boo!” in disgust, but the Dow Jones industrial average jumped almost 15 points on sales of 101.2 million shares. | Ref: 4 |
- 1985
| Jan 14 | British pound (£) sinks to record low-$1.11. | Ref: 5 |
| Jan 29 | The Dow Jones Industrial Average peaked at a new high of 1,292.62, eclipsing the record set on November 29, 1983. | Ref: 4 |
| Feb 13 | The Dow Jones industrial average closed at a record high of 1297.92 after it topped the 1300 mark earlier in the trading session. The market went on to post an increase of 21.31 points for the day. | Ref: 4 |
| Feb 19 | ADM of Amsterdam declares bankruptcy. | Ref: 5 |
| Feb 27 | US dollar is worth ƒ3.9355 (Netherlands). | Ref: 5 |
| May 20 | The Dow Jones industrial average broke the 1300 mark for the first time. The Dow gained 19.54 points to close at 1304.88. | Ref: 4 |
| Jun 02 | The R.J. Reynolds Company proposed a major merger with Nabisco (National Biscuit Company) that would create a $4.9 billion conglomerate of food distribution and other popular products, including tobacco. | Ref: 4 |
| Jul 03 | CBS announces a 21% stock buy-back to thwart Ted Turner's takeover. | Ref: 5 |
| Jul 17 | The nation’s second largest banking company, Bank of America of San Francisco, CA, reported a second-quarter loss of $338 million. | Ref: 4 |
| Oct 11 | Pres Reagan bans importation of South African Krugerrands. | Ref: 5 |
| Nov 06 | The stock market hits 1400 on its way up | Ref: 62 |
| Nov 16 | Stuart Chase, writer/economist: Men and Machines, Power of Words, A New Deal [inspired Franklin Delano Roosevelt’s New Deal]; dies. | Ref: 4 |
| Dec 05 | Dow Jones Industrial Average rises above the 1,500 level for first time. | Ref: 5 |
| Dec 10 | The R.H. Donnelley Corporation announced plans to bring full color to its phone books, with red, blue and green ... along with the traditional Yellow Pages; and it wasn’t long before ads printed in the Yellow Pages began sprouting up with red, blue and green accents (which cost more than the traditional, black-only print). | Ref: 4 |
| Dec 11 | The most expensive non-oil acquisition in U.S. history took place. General Electric Company agreed to buy RCA Corporation for $6.3 billion. The conglomerate would bring in about $39 billion in revenues. The deal also included NBC radio and TV. | Ref: 4 |
| Dec 11 | Dow Jones closes above 1,500 for first time (1,511.70). | Ref: 5 |
| Dec 16 | Wall Street closed at 1553.10, doubling its 1982 low. August 12, 1982 had seen the bottom of the market and the bull market began the following day (Friday the 13th) taking it to the 1553.10 level on this day. | Ref: 4 |
- 1986
| Jan 01 | Spain & Portugal become 11th & 12th members of Common Market (European Economic Community). | Ref: 5 |
| Jan 02 | 191.66 million shares traded in NY Stock Exchange. | Ref: 5 |
| Jan 03 | Capital Cities acquired ABC-TV for $3.5 billion. (In 1991, Capital Cities/ABC Inc. was purchased by Disney for a then-record $19 billion). | Ref: 4 |
| Jan 07 | Netherlands Bank issues 250 guilder notes. | Ref: 5 |
| Jan 29 | 193.8 million shares traded in New York Stock Exchange. | Ref: 5 |
| Feb 06 | The stock market hits 1600 for the first time | Ref: 62 |
| Feb 28 | European Economic Community sign "Special Act" for Europe free trade. | Ref: 5 |
| Mar 05 | The U.S. dollar made its largest one-day gain against other world currencies since 1978 as it closed up 2½ points or just over 2.2 percent from the previous day’s closing mark. | Ref: 4 |
| Mar 11 | 187.27 million shares traded in New York Stock Exchange. | Ref: 5 |
| Mar 12 | 210.25 million shares traded in New York Stock Exchange. | Ref: 5 |
| Mar 21 | 199.22 million shares traded in New York Stock Exchange. | Ref: 5 |
| Apr 01 | World oil prices dip below $10 a barrel. | Ref: 5 |
| Apr 03 | US national debt hits $2,000,000,000,000. | Ref: 5 |
| Apr 22 | Consumer Price Index drops .04% for 2nd month in a row. | Ref: 5 |
| Jul 17 | The largest bankruptcy filing in US history took place as LTV Corporation asked for court protection from more than 20,000 creditors. LTV Corp. had debts in excess of $4 billion. | Ref: 4 |
| Aug 22 | $100,000,000 record fine paid by Ivan F. Boesky to SEC;agrees to plead guilty of insider trading. | Ref: 70 |
| Sep 03 | Peat Marwick International and Klynveld Main Goerdeler of the Netherlands agreed to merge, forming the world’s largest accounting firm. | Ref: 4 |
| Sep 04 | 189.42 million shares traded in NY Stock Exchange. | Ref: 5 |
| Sep 11 | The stock market plunged 86.61 points to 1792.89. It was the busiest day ever (to that day) for investors, brokers and traders on Wall Street as the big board tumbled. | Ref: 4 |
| Sep 12 | 240.49 million shares traded in the NY Stock Exchange. | Ref: 5 |
| Oct 28 | In the Neiman-Marcus catalogue this day, the store offered, as a unique holiday gift, a 100-year subscription to The Wall Street Journal -- for just $6,000. That was a $5,400 saving over the regular 100-year rate! | Ref: 4 |
| Nov 14 | The U.S. Securities and Exchange Commission announced that Ivan Boesky would have to pay $100 million in fines and alleged profits to settle insider-trading charges against him. The settlement was just $6 million less than the entire S.E.C. budget for 1986. | Ref: 4 |
| Nov 15 | The SEC fined Ivan F. Boesky $100 million for insider stock trading. | Ref: 70 |
| Nov 20 | In its annual list of Products of the Year, Fortune magazine congratulated “Risk takers and innovators who reached for the brass rings and grabbed gold.” On that list: Uncle Sam’s gold eagle coin, Kodak’s lithium batteries, and the toy Laser Tag with light-emitting pistols. | Ref: 4 |
| Nov 24 | The American Eagle silver dollar, like its gold counterpart, became all the rage on this, its first day of issue -- by selling out. An additional 250,000 coins were also ordered this day by coin dealers. | Ref: 4 |
| Dec 02 | Dow-Jones index hits record 1955.57. | Ref: 5 |
| Dec 10 | Exxon announced the sale of its Manhattan landmark, the 53-story Exxon Building, to a Japanese real estate developer. The price tag was $610 million., is born. | Ref: 4 |
- 1987
| Jan 01 | Bolivia issues its new currency, the boliviano, which equals one million old pesos. | Ref: 17 |
| Jan 08 | The Dow Jones industrial average closed above 2,000 for the first time, ending the day at 2,002.25. | Ref: 70 |
| Jan 23 | Dow Jones rises 64 points then drops 110 points (44.15 point loss). | Ref: 5 |
| Feb 05 | The Dow Jones industrial average closed above the 2,200-point mark for the first time. The market closed at 2201.49. | Ref: 4 |
| Feb 11 | British Airways begins trading stocks. | Ref: 5 |
| Mar 12 | Both Coca-Cola and Boeing Company joined the rank and file of the Dow Jones industrials this day. The 30-stock average said “adieu” to the stock of Owens-Illinois Glass and Inco Ltd. to make room for the new issues. | Ref: 4 |
| Mar 19 | Fred Currey acquires Greyhound Bus Company. | Ref: 5 |
| Apr 04 | Dow Jones up 69.89 points, ending at record 2,390.34 pts. | Ref: 5 |
| Apr 12 | Ewan Calague economist/statistician (Social Security) dies at 90. | Ref: 5 |
| Apr 14 | Turkey asks to join European market. | Ref: 5 |
| Apr 21 | Dow Jones Average soars 664.7; 2nd biggest one-day gain in history. | Ref: 5 |
| Jun 02 | President Reagan announces he is nominating economist Alan Greenspan to succeed Paul Volcker as chairman of the Federal Reserve Board. | Ref: 70 |
| Jul 14 | Greyhound Bus buys Trailways Bus for $80 million. | Ref: 5 |
| Aug 07 | The SEC issues a definition of insider trading. | |
| Aug 10 | The Dow Jones industrial average closed above the 2600 mark, after a gain of 43.84 points. At the closing bell, the Dow Jones industrials were at 2635.84. | Ref: 4 |
| Aug 17 | Dow Jones Industrial Avg closes above 2,700 for first time (2,700.57). | Ref: 5 |
| Aug 25 | Dow Jones industrial stock avg reaches record 2722.42. | Ref: 5 |
| Oct 19 | Black Monday on Wall Street. "Stocks Plunge 508 Amid Panicky Selling; Percentage Decline Greater Than in 1929...”, per the Wall Street Journal. The Dow Jones industrial average (DJIA) closed down 22.6%. The drop was blamed on computerized program trading and various factors in the economy. | Ref: 4 |
| Oct 26 | Dow Jones down 156.83 points. | Ref: 5 |
| Nov 03 | On Wall Street, after 5 consecutive gains, Dow Jones down 50.56. | Ref: 5 |
| Dec 18 | Ivan F. Boesky was sentenced to three years in prison for plotting Wall Street's biggest insider-trading scandal. | Ref: 70 |
- 1988
| Jan 02 | Ashland Oil storage tank spills 3.8 million gallons, PA. | Ref: 5 |
| Jan 08 | Dow Jones down 140.58 points. | Ref: 5 |
| Apr 01 | Marius W Holtrop economist/president (Netherlands Bank), dies at 85. | Ref: 5 |
| Jul 29 | FDIC bails out first Republic Bank, Dallas, with $4 billion. | Ref: 5 |
| Aug 22 | Australia unveils first platinum coin (Koala). | Ref: 5 |
| Sep 07 | Security & Exchange Comm accuses Drexel of violating security laws. | Ref: 5 |
| Oct 04 | Pillsbury stock soars $18.37 to $57.37 on takeover bid. | Ref: 5 |
| Oct 17 | Phillip Morris announces $11 Billion tender offer for Kraft. | Ref: 5 |
| Oct 30 | 2 gambling clubs & 1 player share 61.38 M CA lotto jackpot. | Ref: 5 |
| Dec 21 | Drexel agrees guilt to security felonies, pays a $650 million fine. | Ref: 5 |
- 1989
| Jan 26 | AT&T reports first loss in 103 years; $1.67 B in 1988. | Ref: 5 |
| Jan 29 | Dow jumps 38.06 recoups 508-point loss since October 1987; index at 2,256.43. | Ref: 5 |
| Feb 17 | Mauritania, Morocco, Algeria, Tunisia & Libya form common market. | Ref: 5 |
| Mar 04 | Time Inc. and Warner Communications Inc. announced plans to merge into the world's largest media and entertainment conglomerate. | Ref: 70 |
| Mar 29 | Michael Milken, junk bond king, indicted in New York for racketeering | Ref: 5 |
| Apr 28 | Argentina, hit by rocketing inflation, runs out of money. | Ref: 5 |
| May 19 | Dow Jones average passes 2,500 mark for first time, closes at 2,501.1. | Ref: 5 |
| Sep 11 | Drexel formally pleads guilty to security fraud. | Ref: 5 |
| Sep 27 | Sony purchases Columbia Pictures for $3.4 billion cash. | Ref: 5 |
| Oct 13 | Friday the 13th. The stockmarket falls 190.58 points in a minor crash. | Ref: 62 |
| Oct 30 | Mitsubishi Estate Co., a major Japanese real estate concern, announced it was buying 51 percent of Rockefeller Group Inc. of | Ref: 70 |
- 1990
| Jan 02 | Dow Jones hits record 2,800 (2,810.15). | Ref: 5 |
| Jan 10 | Time Inc. aquired Warner Communications for the tidy little sum of $14.1 billion. Thus began Time Warner, one of the world’s largest media and entertainment conglomerates. | Ref: 4 |
| Apr 24 | Security law violator Michael Milken pleads guilty to 6 felonies. | Ref: 5 |
| May 14 | Dow Jones average hits a record 2,821.53. | Ref: 5 |
| May 15 | Dow Jones average hits a record 2,822.45. | Ref: 5 |
| May 17 | Dow Jones average hits a record 2,831.71. | Ref: 5 |
| May 21 | Dow Jones average hits a record 2,844.68. | Ref: 5 |
| May 22 | Dow Jones average hits a record 2,852.23. | Ref: 5 |
| May 23 | Dow Jones average hits a record 2,856.26. | Ref: 5 |
| May 23 | Cost of rescuing savings & loan failures is put at up to $130 billion. | Ref: 5 |
| May 29 | Dow Jones average hits a record 2,870.49. | Ref: 5 |
| May 30 | Dow Jones average hits a record 2,878.56. | Ref: 5 |
| Jun 01 | Dow Jones Avg hits a record high of 2,900.97. | Ref: 5 |
| Jun 04 | Greyhound Bus files bankruptcy. | Ref: 5 |
| Oct 11 | Oil hits a record $40.42 per barrel. | Ref: 5 |
| Nov 19 | Greyhound files reorganization plan so they can be traded publicly. | Ref: 5 |
| Nov 21 | Junk-bond financier Michael R. Milken, who had pleaded guilty to six felony counts, is sentenced by a federal judge in NY to 10 years in prison (Milken served two). | Ref: 5 |
| Nov 26 | Japanese business giant Matsushita Electric Industrial Co. agreed to acquire MCA Inc. for $6.6 billion. | Ref: 5 |
- 1991
| Jan 02 | Matsushita Electric Industrial Co. of Japan bought MCA Inc. for $6.9 billion. | Ref: 70 |
| Jan 03 | Matsushita Electric Industrial Co. of Japan bought MCA Inc. for $6.9 billion. | Ref: 4 |
| Jan 23 | High-denomination banknotes withdrawn in USSR. | Ref: 5 |
| Mar 04 | Bank of Credit & Commerce International divests itself of first American Bank. | Ref: 5 |
| Apr 01 | US minimum wage goes from $3.80 to $4.25 per hour. | Ref: 5 |
| Apr 15 | East-Europe Bank forms in London. | Ref: 5 |
| Apr 17 | The Dow Jones industrial average closed above 3,000 for the first time, ending the day at 3,004.46. | Ref: 70 |
| Apr 17 | Dow Jones closes above 3,000 for first time (3,004.46). | Ref: 5 |
| Apr 19 | Greyhound Bus posts $195 million loss for 1990. | Ref: 5 |
| May 03 | Swiss Banking Commission announces end to secret numbered bank accounts. | Ref: 10 |
| May 13 | President Bush announces a $600M loan package to help rebuild riot-scarred Los Angeles. (XDG, 5/13/2001, p. 4A) | Ref: 83 |
| Jul 05 | Regulators in seven countries, including the US, shut down BCCI (Bank of Commerce and Credit International). The institution and four of its units were indicted for fraud, theft, and money laundering from corrupt activities. In July 1990 five former officials of BCCI were convicted in Tampa, Florida for laundering $32 million in cocaine profits for Colombia’s Medellín drug cartel. | Ref: 4 |
| Jul 10 | President Bush announced he was appointing Alan Greenspan to a second term as Federal Reserve chairman. | Ref: 6 |
| Jul 10 | President George H.W. Bush lifted economic sanctions against South Africa, citing its "profound transformation" toward racial equality. | Ref: 70 |
| Jul 15 | Group of Seven leaders opened their 17th annual economic summit in London, plunging into debate over aid to the Soviet Union. | Ref: 6 |
| Jul 16 | Leaders of the Group of Seven nations holding their economic summit in London issued a communique calling for a "new spirit of cooperation" in the international community. | Ref: 6 |
| Aug 12 | Creditors vote to support Greyhound Bus reorganization plan | Ref: 5 |
| Aug 16 | Pres Bush declares the recession is near an end | Ref: 5 |
| Oct 10 | Greyhound Bus ends bankruptcy | Ref: 5 |
| Oct 30 | BET Holdings Inc., becomes the first African-American company listed on the NY Stock Exchange. | Ref: 2 |
| Nov 15 | Dow Jones average drops 120.31 points (5th largest dive). | Ref: 5 |
| Dec 11 | Eurpoean Community leaders meeting in Maastricht, Holland hammer out an agreement for a loose federation of their countries. (XDG, p 4A, 12/11/2001) | Ref: 83 |
| Dec 12 | Orion Pictures filed Chapter 11 for bankruptcy protection. | Ref: 5 |
| Dec 14 | President Bush and Mexican President Carlos Salinas de Gortari, meeting at Camp David, Md., renewed their commitment to conclude quickly the North American Free Trade Agreement. | Ref: 64 |
| Dec 17 | In an about-face, the White House used the word "recession" to characterize the state of the economy, although spokesman Marlin Fitzwater said the administration did not believe there was a recession in a technical sense. Russian President Boris Yeltsin and Soviet President Mikhail S. Gorbachev agreed to dissolve the Soviet Union by the new year. | Ref: 64 |
| Dec 19 | The failed Bank of Credit and Commerce International agreed to settle federal racketeering charges by forfeiting all its U.S. assets. | Ref: 64 |
| Dec 26 | On Wall Street, the Dow Jones industrial average rose to a then-record high of 3082.96. President Bush nominated businesswoman Barbara Franklin to be commerce secretary. Sikh separatists killed about 50 train passengers in Punjab, most of them Hindus. | Ref: 64 |
| Dec 31 | Dow Jones closes at record high 3168.83. | Ref: 5 |
- 1992
| Jan 01 | Europe breaks down trade barriers. | Ref: 5 |
| Jan 02 | Russian shoppers experienced their first day of "sticker shock" after President Boris Yeltsin lifted price controls to stimulate production. | Ref: 64 |
| Jan 03 | The Dow Jones Industrial Average closes at 3201.48, breaking the 3200 barrier for the first time. (XDG, p 4A, 1/03/2002) | Ref: 83 |
| Jan 05 | President Bush arrives in Seoul, South Korea, on the third stop of a 12-day tour focusing on international trade issues. | Ref: 64 |
| Jan 09 | President Bush declared his trade visit to Japan a success, saying Japanese officials had agreed to increase imports of American cars, auto parts, computers and other goods. (However, U.S. auto executives traveling with Bush sounded less enthusiastic.) | Ref: 64 |
| Apr 27 | Russia and 12 other former Soviet republics won entry into the International Monetary Fund and the World Bank. | Ref: 70 |
| May 15 | NY department store chain Alexanders announces closing of all 11 stores. | Ref: 5 |
| Jun 22 | CBS This Morning co-host Paula Zahn announced, “Making headlines this morning: Bill Clinton comes up with a plan for the economy. Tax the rich, cut the deficit, and help just about everyone else.” Very similar to the Robin Hood system, wasn’t it? | Ref: 4 |
| Aug 12 | The United States, Mexico and Canada agreed to form a that would remove most barriers to trade and investment and create the world’s largest trading bloc: The North American Free Trade Agreement (NAFTA). | Ref: 4 |
| Sep 02 | Spurred on by a new California law promoting the commercialization of alternative fuel vehicles, the Southern California Gas Company purchased the first motor vehicles powered by natural gas. | |
| Dec 17 | President George H.W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas de Gortari signed the North American Free Trade Agreement in separate ceremonies. | Ref: 70 |
| Dec 31 | Target date for Europe's single market. | Ref: 5 |
- 1993
| Jan 01 | 12 member European Economic Community set up vast free trade zone. | Ref: 5 |
| Jan 03 | Junk bond king Michael Milkin is released from jail after 22 months. | Ref: 5 |
| Jan 25 | Sears announces it is closing its catalog sales department after 97 years. | Ref: 5 |
| Mar 08 | The Dow Jones Industrials soar to a record high, climbing 64.84 to end the day at 3469.42. | Ref: 83 |
| Mar 18 | Amsterdam stock exchange hits record ƒ12.2 billion. | Ref: 5 |
| May 19 | Dow Jones closes above 3,500 for first time (3,500.03). | Ref: 5 |
| Dec 02 | Dow-Jones hits record 3702.11. | Ref: 5 |
| Dec 08 | President Clinton signed into US law the North American Free Trade Agreement. | Ref: 70 |
| Dec 08 | Dow-Jones hits record 3734.53. | Ref: 5 |
| Dec 10 | Dow Jones hits record 3740.67. | Ref: 5 |
| Dec 13 | Dow Jones hits record 3764.43. | Ref: 5 |
| Dec 15 | GATT (General Agreement on Tariffs and Trade) Uruguay Round completed. | Ref: 5 |
| Dec 20 | W Edwards Deming US economist (helped Japan after WWII), dies at 93. | Ref: 5 |
| Dec 27 | Dow-Jones hits record 3792.93. | Ref: 5 |
| Dec 28 | Dow-Jones hits record 3792.93. | Ref: 5 |
- 1994
| Jan 01 | North American Free Trade Agreement (NAFTA) goes into effect. | Ref: 5 |
| Jan 06 | Dow-Jones hits record 3803.88. | Ref: 5 |
| Jan 21 | Dow Jones passes 3900 (record 3,914.20). | Ref: 5 |
| Jan 24 | Dow Jones closes above 3,900 for first time (3,914.48) | Ref: 5 |
| Jan 31 | Dow Jones hits a record 3,978.36. | Ref: 5 |
| Feb 17 | The US government reports a record trade deficit with Japan in 1993. (XDG, p 4A, 2/17/2004) | Ref: 83 |
| Mar 25 | The US Senate approves a $1.51T budget. (XDG, p 4A, 3/25/2004) | Ref: 83 |
| Mar 25 | David Miles Bensuan-Butt Economist , dies at 79. | Ref: 5 |
| Aug 26 | Financier Robert Vesco, is jailed on a thirteen-year sentence for "economic crimes against the state." | |
| Aug 29 | Viacom Inc. announced the purchase of Blockbuster Entertainment Corp., the video rental store giant, for $8 billion. On Sep 29, 1994, Blockbuster did indeed merge with (was gobbled up by) Viacom. | Ref: 4 |
-
| Dec 06 | Orange County, CA., filed for bankruptcy protection due to investment losses of about $2 billion. | Ref: 70 |
| Dec 26 | Karl Schiller minister of RFA Economics (1966-72), dies. | Ref: 5 |
| Dec 26 | Johannes J "Joop" Klant Netherlands/South African economist/author, dies. | Ref: 5 |
| Dec 27 | Karl AF Schiller West German economist/SPD-minister, dies at 83. | Ref: 5 |
| Dec 29 | Billionaire J Paul Getty Jr marries Victoria Holdsworth on Barbados. | Ref: 5 |
- 1995
| Jan 01 | Austria, Finland & Sweden act to join European Union. | Ref: 5 |
| Jan 07 | Murray Newton Rothbard economist, dies of cardiac arrest at 69. | Ref: 5 |
| Jan 20 | Russian ruble drops to 3,947 per dollar (record). | Ref: 5 |
| Feb 15 | Dow-Jones closes at record 3986.17. | Ref: 5 |
| Feb 23 | The Dow Jones Industrial Averages close above 4,000 for the first time (4,003.33). | Ref: 5 |
| Feb 24 | Dow-Jones hits record 4011.74. | Ref: 5 |
| Feb 26 | Barings PLC, Britain's oldest investment banking firm, collapsed after a securities dealer (Nick Larson) lost more than $1.4 billion by gambling on Tokyo stock prices. | Ref: 70 |
| Mar 02 | British trader Nick Leeson arrested for collapse of Barings Bank PLC. | Ref: 5 |
| Mar 06 | American Express Travel begins charging for domestic air tickets. | Ref: 5 |
| Mar 06 | US 4.5¢ equals 156.30 Dutch guilders (record). | Ref: 5 |
| Mar 07 | Dollar worth 1.5330 Dutch guilder (record). | Ref: 5 |
| Mar 09 | Mexican peso worth 7.55 pesos to a dollar (record). | Ref: 5 |
| Mar 10 | Dow-Jones hits record 4035.64. | Ref: 5 |
| Mar 13 | Hungarian Forint devalued 9%. | Ref: 5 |
| Mar 16 | Dow-Jones hits record 4069.15. | Ref: 5 |
| Mar 17 | British £ hits 2.4545 to Dutch guilder (record). | Ref: 5 |
| Mar 20 | Dow-Jones hits 4083.68 (record). | Ref: 5 |
| Mar 23 | Dollar equals ¥88.41 yen (record). | Ref: 5 |
| Mar 28 | World's largest bank-Japan's Mitsubishi Bank & Bank of Tokyo merge | Ref: 5 |
| Apr 24 | Dow Jones Index hits record 4303.98. | Ref: 5 |
| May 12 | Dow Jones for 5th straight day of the week sets a new record (4430.59). | Ref: 5 |
| May 15 | Dow Corning Corp. filed for Chapter 11 bankruptcy protection, citing potentially astronomical expenses from liability lawsuits. | Ref: 70 |
| Aug 01 | Westinghouse Electric Corp. struck a deal to buy CBS for $5.4 billion. | Ref: 70 |
| Sep 20 | AT&T announced that it would be splitting into three companies: today’s AT&T (communication services); Lucent Technologies (systems and technology communications products); and NCR Corp. (computer business). | Ref: 4 |
| Sep 22 | Time Warner struck a $7.5 billion deal to buy Turner Broadcasting System Inc. | Ref: 70 |
| Nov 20 | Dow Jones Industrial Average passes 5,000 for the first time. | Ref: 10 |
| Nov 21 | The Dow Jones industrial average closed above the 5,000 mark for the first time. | Ref: 70 |
| Nov 26 | The Dow Jones industrial average closed above the 5,000 mark for the first time. | Ref: 70 |
| Dec 15 | The leaders of the European Union were gathered in Madrid to discuss the shape of a single European currency. They decided on a name for it: the Euro. | Ref: 4 |
| Dec 24 | Harry McLevy trade unionist, dies at 59. | Ref: 5 |
- 1996
| Jan 09 | Kurt Schmucker German RFA minister of Economy (1963-66), dies. | Ref: 5 |
| Feb 23 | U.S. National debt surpasses five trillion dollar mark for the first time. | Ref: 10 |
| Mar 22 | Schwab launches its online stock trading system, eSchwab. Online stock trading was one of the earliest online commerce applications to catch on with consumers. | Ref: 3 |
| Apr 04 | The former general manager of Daiwa Bank's New York branch pleaded guilty to aiding a $1.1 billion cover-up. | Ref: 64 |
| Apr 08 | Stock prices plunged on Wall Street amid concerns over stronger-than-expected employment data. The Dow Jones industrial average fell 88.51 to end at 5594.37. | Ref: 6 |
| Apr 13 | Denis Sargan econometrician, dies at 71. | Ref: 5 |
| May 01 | (Prudential Insurance) A multistate task force of insurance regulators finds "widespread violalations" throughout the country. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| Jun 20 | Westinghouse Electric agreed to buy Infinity Broadcasting for $3.9 billion, a move that would combine the two biggest players in radio. That was just the beginning, as they say, of the gobbling up of American radio by corporate America. Congress had passed the Telecommunications Act in February 1996 permitting expansion of TV and radio station holdings, and removing restrictions on how many stations could be owned by one entity (huge corporation) in one market (your town/city). With a few local exceptions, all radio stations in the United States are now owned by either Infinity Broadcasting Corporation or Clear Channel Communications. Stay tuned, as they also say, one of these gobblers is bound to gobbled up by the other at any moment. | Ref: 4 |
| Jun 26 | President Clinton and leaders of the world's other industrial powers gathered in Lyon, France, for their annual economic summit. | Ref: 6 |
| Jul 05 | The government reported the nation's unemployment rate fell to a six-year low in June 1996; nervous investors, fearing higher interest rates, gave the stock market its worst beating in four months, sending the Dow industrials down 114 points. | Ref: 6 |
| Aug 20 | President Clinton approved the first minimum-wage increase in five years, raising the hourly minimum by 90 cents to $5.15 per hour over 13 months. | Ref: 6 |
| Aug 28 | Chase Manhattan and Chemical Banking announced a $10 billion deal to create the biggest bank in the nation. A mortar shell tore through a crowded market in Sarajevo, Bosnia-Herzegovina, killing 38 people and triggering NATO airstrikes against the Bosnian Serbs. CA Governor Pete Wilson formally entered the GOP presidential race. | Ref: 6 |
| Sep 22 | Time Warner struck a $7.5 billion deal to buy Turner Broadcasting System Incorporated. Publishing tycoon | Ref: 6 |
| Sep 26 | A bond trader at Japan's Daiwa Bank was charged with doctoring records to hide $1.1 billion in losses. | Ref: 6 |
| Dec 05 | Federal Reserve Chairman Alan Greenspan questioned whether the stock market was overvalued, saying in a speech in Washington, "How do we know when irrational exuberance has unduly inflated asset values?" | Ref: 70 |
| Dec 06 | Stock markets around the world plunged after comments by Federal Reserve Chairman Alan Greenspan were taken to mean that U.S. stock prices were too high. Former NFL commissioner Pete Rozelle died in Rancho Santa Fe, CA., at age 70. | Ref: 64 |
| Dec 11 | Herbert Sally Frankel economist, dies at 93. | Ref: 5 |
| Dec 13 | Trade ministers from 28 countries meeting in Singapore endorsed a U.S.- crafted trade pact to abolish import duties on computers, software and other high-tech products. | Ref: 64 |
- 1997
| Jan 06 | (Prudential Insurance) US District Judge Alfred M Wolin fines Prudential $1M for the allowing the destruction of documents related to alleged sales abuses. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| Jan 10 | Italy's new 1,000 lire coin shows divided Germany on map. | Ref: 5 |
| Feb 05 | Investment companies Morgan Stanley Group Inc. and Dean Witter, Discover & Co. announced their intention to merge. The $10 billion deal, completed on May 31, 1997, created the largest U.S. securities firm. | Ref: 4 |
| Feb 13 | The Dow Jones industrial average broke through the 7,000 barrier for the first time, ending the day at 7,022.44. | Ref: 70 |
| Mar 03 | Stanislav Shatalin Russian economist (500 Days), dies | Ref: 5 |
| Mar 10 | (Prudential Insurance) US District Judge Alfred M Wolin approves the settlement against Prudential. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| May 15 | Amazon.com goes public; issues 3m shares at $118. Stock opens at $27 closes at $23. | Ref: 10 |
| Jul 17 | Woolworth Corp. closed its last 400 five-and-dime stores, laying off 9,200 employees. | Ref: 70 |
| Jul 22 | Only six months after climbing to 7,000, Dow Jones crosses 8,000 threshold for the first time. | Ref: 10 |
| Sep 02 | Dow rises 257.36 points largest point gain ever, closing at 7879. (TWA, 1998) | Ref: 95 |
| Sep 18 | Coopers & Lybrand and Price Waterhouse agreed to merge to create the world's biggest accounting firm. | Ref: 70 |
| Oct 23 | Hong Kong's Hang Seng index in largest slide in history losing 10% of value; FTSE & Dow follow. | Ref: 10 |
| Oct 27 | The Dow Jones industrial average tumbled 554.26 points, forcing the stock market to shut down for the first time since the 1981 assassination attempt on President Reagan. | Ref: 70 |
| Dec 03 | South Korea struck a deal with the International Monetary Fund for a record $55 billion bailout of its foundering economy. | Ref: 70 |
| Dec 05 | The World Trade Organization rejected American claims that the Fuji film company conspired with Japan to keep Eastman Kodak products out of Japan. (XDG, p 4A, 12/5/2002) | Ref: 83 |
| Dec 08 | A $25 billion deal: Swiss Bank and Union Bank of Switzerland announced a plan to form a single bank with assets of well over half a trillion dollars. The combined group would be called the United Bank of Switzerland and would become the world’s biggest money manager. | Ref: 4 |
| Dec 29 | (Prudential Insurance) The Florida attorney general's office issues a report of instigation of Prudential, saying the company itself, not just rogue agents, were to blame for the fraud. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
- 1998
| Jan 01 | Mongolia switches from a 46 hour to 40 hour work week. | Ref: 5 |
| Apr 03 | The Dow Jones industrial average climbed above 9,000 for the first time, but finished with a 3.23 point drop at 8983.41. | Ref: 70 |
| Apr 06 | The Dow Jones industrial average closed above 9,000 points for the first time. | Ref: 70 |
| Apr 13 | NationsBank and BankAmerica announced a $62.5 billion merger. | Ref: 70 |
| May 11 | A French mint produced the first coins of Europe's single currency, the euro. | Ref: 70 |
| Jun 24 | AT&T announced that it was buying cable TV giant TCI for $31.7 billion. The deal let AT&T move closer to its goal of providing local phone and high speed Internet service to millions of US homes. | Ref: 4 |
| Jul 28 | Bell Atlantic Corp. and GTE Corp. announced a $52.88 billion stock-swap deal to create the second-biggest telephone company -- behind AT&T. The resulting mega-corporation -- later to be named Verizon Communications -- would begin with 63 million local telephone lines in 38 states and revenue of $53 billion. | Ref: 4 |
| Aug 04 | The Dow Jones Industrial Average plunged 299.43 points, finishing at 8487.31. (XDG, p 4A, 8/04/2003) | Ref: 83 |
| Aug 11 | British Petroleum announced it was buying/merging with Amoco Corp. of the US in a $48 billion deal. BP was already the world’s third-largest oil company, and the deal made it a bigger rival to No. 1 Royal Dutch/Shell and No. 2 Exxon. | Ref: 4 |
| Aug 17 | The Federal Reserve Board approved the megamerger of NationsBank and BankAmerica. | |
| Aug 17 | Russia devalues the ruble. (TWA, 1999) | Ref: 95 |
| Aug 31 | Wall Street in 2nd biggest fall Dow loses 512.61 points reacting to Russian fiscal crisis. (now 3rd) | Ref: 10 |
| Sep 14 | WorldCom completed its $40-billion merger with MCI. “MCI WorldCom is open for business,” said Bert C. Roberts Jr., chairman of the company. “We have created a new kind of communications company with a unique set of assets, a top-flight group of employees, and a heritage for delivering the benefits of competition to our customers.” | Ref: 4 |
| Sep 24 | The US government began releasing the new, harder-to-counterfeit, $20-bill. (XDG, p 4A, 9/24/2003) | Ref: 83 |
| Nov 23 | The Wall Street Journal reported, “States Agree to $206 Billion Tobacco Deal.” The money was to be paid by the tobacco industry to help 46 U.S. states cover costs of treating people for tobacco-induced illnesses. | Ref: 4 |
| Dec 01 | World's biggest merger as Exxon announces agreement to purchase Mobil for $73.7B. (XDG, p 4A, 12/01/2003) | Ref: 83 |
| Dec 09 | CBS Corp. raised $2.9 billion by selling a 17 percent stake in Infinity Broadcasting Corp., its radio and outdoor advertising business. The initial public offering of stock is largest ever in the media industry. | Ref: 4 |
| Dec 31 | Europe's leaders proclaimed a new era as 11 nations merged currencies to create the euro. (XDG, p 4A, 12/31/2003) | Ref: 83 |
- 1999
| Jan 01 | Eleven of the countries in the European Economic and Monetary Union (EMU) gave up their own currencies and adopted the new Euro (EUR) currency: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. (Greece followed suit on January 1, 2001.) | Ref: 4 |
| Jan 04 | The euro, the new money of 11 European nations, goes into effect on the continent of Europe. | Ref: 2 |
| Jan 20 | (Prudential Insurance) The US Supreme Court lets the class action settlement against Prudential stand. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| Mar 16 | The Dow Jones industrial average briefly topped the 10,000 level, reaching a high of 10,001.78 before retreating. | Ref: 10 |
| Mar 29 | The Dow Jones industrial average closed above 10,000 for the first time, ending the day at 10,006.78. | Ref: 70 |
| Apr 02 | The US Labor Department reports that the nation's unemployment rate fell to a 29-year low of 4.2% in March 1999. (XDG, p 4A, 4/02/2004) | Ref: 83 |
| May 03 | The Dow Jones industrial average closes above 11,000 just 24 days after passing 10,000. (XDG, p 4A, 5/3/2000) | Ref: 83 |
| Jun 06 | (Prudential Insurance) In a financial update, Prudential says it dispatched letters to all 650,000 claimants detailing awards. Of the total, 1/3 were offered the highest level of relief and 2/3 qualified for lesser relief. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| Jul 09 | (Prudential Insurance) Pruco Securities, a unit of Prudential Insurance. Was censured and fined $20M by the National Association of Securities Dealers (NASD) for deceptive sales of variable life insurance, one of the largest finest ever by the NASD. (Wall Street Journal, p C1, 7/09/1999) | Ref: 33 |
| Oct 05 | MCI WorldCom Inc. announced a $115 billion deal to take over Sprint Corp. | Ref: 70 |
| Oct 07 | American Home Products Corp. resolved one of the biggest product liability cases ever by agreeing to pay up to $4.83 billion to settle claims that the fen-phen diet drug combination caused dangerous heart valve problems. | Ref: 70 |
| Nov 12 | President Clinton signed a sweeping measure knocking down Depression-era barriers and allowing banks, investment firms and insurance companies to sell each other's products. | Ref: 70 |
| Dec 29 | The Nasdaq composite index closed above 4,000 for the first time, ending the day at 4,041.46. | Ref: 70 |
- 2000
| Jan 04 | The Nasdaq composite index was hit for its worst point loss, falling more than 229 points (5.6 percent) to 3,901. The market appeared to be concerned about future Fed rate hikes. The Dow Jones Industrial Average plunged 359 points (3.2 percent) to 10,997. | Ref: 4 |
| Jan 14 | The Dow Jones Industrial Average peaks at 11,722,98. (XDG, p. 4A, 10/07/2002) | Ref: 83 |
| Jan 17 | British pharmaceutical companies Glaxo Wellcome PLC and SmithKline Beecham PLC agreed to a merger. | Ref: 70 |
| Feb 03 | The Senate voted 89-4 to confirm Alan Greenspan for a fourth term as chairman of the Federal Reserve. | Ref: 70 |
| Apr 04 | In a volatile day on the U.S. stock market, the Nasdaq composite index and the Dow Jones industrial average each plunged more than 500 points before reversing course as buyers flooded back into the market. | Ref: 64 |
| Apr 10 | NASDAQ plunges 258 points, 2nd biggest drop ever, starting fall of technology stocks. | Ref: 10 |
| Apr 14 | On Wall Street, stocks plummeted in heavy trading, with the Dow industrials down 617 points and the Nasdaq composite index falling 355 points, capping one of the worst weeks ever for US stocks. | Ref: 6 |
| Apr 14 | In Washington, protesters dumped manure on Pennsylvania Avenue, seeking to disrupt meetings of the World Bank and International Monetary Fund. | Ref: 6 |
| Apr 16 | The International Monetary Fund concluded a protest-marred opening session in Washington with a statement repeating past pledges to seek greater debt relief for the poorest countries and reform the IMF so it could better prevent financial crises. | Ref: 6 |
| May 07 | The Nasdaq composite crossed the 5000 mark for the first time before retreating. | Ref: 6 |
| May 16 | The Federal Reserve raised its federal funds rate by one-half point, the biggest increase in five years. | Ref: 6 |
| Jun 25 | Philip Morris announced it was buying Nabisco for $14.9 billion. | Ref: 6 |
| Aug 23 | The Dow Jones industrial average soared 199.15 to a new record of 11,209.84. | Ref: 6 |
| Sep 04 | Martin Frankel, a Connecticut money manager accused of cheating insurance companies in five states out of more than $200 million, was arrested in Germany. | Ref: 6 |
| Sep 07 | It was announced that Viacom Incorporated was buying CBS Corporation for $36 billion -- the richest media merger in history. | Ref: 6 |
| Sep 08 | Economist Herbert Stein, who served as chairman of the Council of Economic Advisers in the Nixon administration, died in Washington DC at age 83. | Ref: 6 |
| Sep 21 | The House Banking Committee opened an inquiry into allegations of a huge money-laundering scheme involving the Russian mob and the Bank of NY. | Ref: 2 |
| Dec 04 | PepsiCo agreed to pay $13.4B to acquire Quaker Oats. (XDG, p 4A, 12/04/2001) | Ref: 83 |
| Dec 14 | The Federal Trade Commission unanimously approved the $111 billion merger of America Online and Time Warner. | Ref: 70 |
| Dec 21 | Fears about a harsh economic slowdown and continuing weakness in corporate earnings sent U.S. stocks sliding, with the Dow Jones industrials giving up more than 260 points, dropping to 10,318.93. The Nasdaq hit its low for the year, falling 178.93 (or 7 percent) to 2,332.78. “Investors are seeing a confirmation from the Fed that the economy is very weak and that earnings are going to be pretty poor and that assistance from the Fed is not going to be right away,” said A.C. Moore, chief investment strategist for Dunvegan Associates in Santa Barbara, CA. (The Fed [Federal Reserve System Board] did respond in 2001, dropping interest rates eleven times, pushing rates to the lowest level since 1961.) | Ref: 4 |
- 2001
| Jan 11 | The Federal Communications Commission approved the merger of America Online and Time Warner. | Ref: 70 |
| Apr 06 | Pacific Gas and Electric filed for bankruptcy. | Ref: 70 |
| May 23 | The US Senate approves a $1.35T tax cut bill. (XDG, p 4A, 5/23/2002) | Ref: 83 |
| Jul 03 | General Electric's $41 billion purchase of Honeywell International was vetoed by the European Union. | Ref: 70 |
| Sep 17 | Wall Street trading resumed for the first time since the Sept. 11 terrorist attacks its longest shutdown since the Depression; the Dow lost 684.81 points, its worst-ever one-day point drop. Pro sporting events resumed after a six-day hiatus. | Ref: 70 |
| Dec 27 | Martha Stewart sells 3928 shares of ImClone stock, the same day members of ImClone CEO Samuel Waksat unloaded millions of dollars worth of stock. Waksal has been charged with insider trading. Questions surround Stewart's advance knowledge and the truthfulness information she provided federal investigators. (USA Today, p. 3B, 8/13/2002) | Ref: 13 |
- 2002
| Jan 01 | Twelve European nations adopted the euro in the most ambitious currency changeover in history. | Ref: 70 |
-
| Jan 06 | Argentina announced the devaluation of its peso, ending a decade-long policy of pegging the peso one-to-one with the US dollar. (Dayton Daily News, p A2, 1/06/2003) | |
| Jan 13 | Treasurey Secretary Paul O'Neill and Commerce Secretary Don Evans said on the Sunday talk shows they had never considered intervening in Enron's spiral towards bankruptcy, nor informed President Bush of requests for help from the energy giant. (XDG, p 4A, 1/13/2003) | Ref: 83 |
| Jan 14 | Two members of Congress released excerpts of a letter to Enron Chairman Kenneth Lay the previous August in which Enron executives Sherron Watkins warned of the reckless practices that eventually brought down the energy-trading giant. (XDG, p. 4A, 1/14/2003) | Ref: 83 |
| Jan 14 | The World Trade Organization decides that the European Union could ask for punitive tariffs on US imports. (XDG, p. 4A, 1/14/2003) | Ref: 83 |
| Jan 15 | Arthur Andersen LLP said it was firing senior auditor David B. Duncan, who had organized a "rushed disposal" of Enron documents after federal regulators requested information about the failing energy company. | Ref: 70 |
| Jan 17 | Enron fired accounting firm Arthur Andersen, citing its destruction of thousands of documents and its accounting advice. | Ref: 70 |
| Jan 22 | Kmart files for Chapter 11 bankruptcy protection. (XDG, p 4A, 1/22/2003) | Ref: 83 |
| Jan 23 | Enron Chairman and CEO Kenneth Lay steps down. (XDG, p 4A, 1/23/2003) | Ref: 83 |
| Feb 01 | President GW Bush responds to the collapse of Enron by proposing regulation reforms of 401(k) retirement plans. Justice Department investigators direct Bush's staff to preserve the paper trail of any contact with Enron. (XDG, p 4A, 2/1/2003) | Ref: 83 |
| Feb 11 | Argentina fully uncoupled the peso from the U.S. dollar for the first time in more than a decade. | Ref: 70 |
| Feb 12 | Former Enron chairman Kenneth Lay expressed "profound sadness" about the collapse of the energy giant, but refused to testify at a Senate hearing. | Ref: 70 |
| Feb 14 | Enron executive Sherron Watkins told a House subcommittee that it was common knowledge at the company that partnerships were used improperly to hide debt and inflate profits. (XDG, p 4A, 2/14/2003) | Ref: 83 |
| Feb 26 | Former Enron chief executive Jeffrey Skilling said during a Senate hearing that he knew nothing about manipulation of company books and denied misleading Congress. | Ref: 70 |
| Mar 14 | The government charged the Arthur Andersen accounting firm with obstruction of justice, securing its first indictment in the collapse of Enron. | Ref: 70 |
| Mar 20 | Arthur Andersen pleaded innocent to charges it had shredded documents and deleted computer files related to Enron. | Ref: 70 |
| Aug 11 | US Airways filed for Chapter 11 bankruptcy protection. | Ref: 70 |
| Aug 28 | Two former WorldCom executives (CFO Scott Sullivan, age 40 and Accounting Director Buford Yates, age 46) are indicted for falsely conspiring to inflate profits by $5B. (USA Today, p 1A, 8/29/2002) | Ref: 13 |
| Sep 23 | A 24-count indictment charging conspiracy, securities fraud and wire fraud was filed against the founding family and two executives of bankrupt cable company Adelphia Communications Corporation. | Ref: 70 |
| Sep 26 | WorldCom former controller David Myers pleaded guilty to securities fraud, saying he was told by "senior management" to falsify records in what became the largest corporate accounting scandal in U.S. history. | Ref: 70 |
| Oct 04 | Communist China's second richest man (est $900M, businessman Yang Bin, is place on house arrest on suspicion of tax evasion, falsifying company reports and violations of local land-use laws. Yang admits to owing more than $1M in back taxes. (USA Today, P 3B, 10/16/2002) | Ref: 13 |
| Oct 07 | Former WorldCom accounting director Buford Yates pleads guilty to conspiracy and fraud charges in helping WorldCom hide more than $5B in expenses. Yates is the second former WorldCom executive (after former controller David Myers) to plead guilty to such charges. (USA Today, p 1A, 10/08/2002) | Ref: 13 |
| Oct 15 | ImClone Systems founder Sam Waksal pleaded guilty in New York in the biotech company's insider trading scandal. | Ref: 70 |
| Oct 16 | Arthur Anderson LLP, Enron's one-time auditor, is sentenced to five years probation and fined $500,000 for obstruction of justice for its handling of Enron Corporation financial documentation to thwart a federal probe of the energy company's finances. (Columbus Dispatch, p E1, 10/17/2002) | |
| Nov 05 | Securities and Exchange Commission Chairman Harvey Pitt resigned under pressure after a series of political missteps that had embarrassed the White House. | Ref: 70 |
| Dec 09 | United Airlines filed the biggest bankruptcy in aviation history after losing $4 billion in the previous two years. | Ref: 70 |
| Dec 12 | President GW Bush names Wall Street investment banker Stephen Friedman to head his National Economic Council, replacing Lawrence Lindsey, who'd been ousted along with Treasury Secretary Paul O'Neill. (XDG, p 4A, 12/12/2003) | Ref: 83 |
| Dec 17 | Insurance and finance company Conseco Incorporated filed for Chapter Eleven protection in the third-largest bankruptcy in U.S. history. | Ref: 70 |
- 2003
| Jan 13 | The owners of toy store chain FAO Schwarz filed for Chapter 11 bankruptcy protection. | Ref: 70 |
| Jan 15 | White House budget director Mitchell Daniels predicts federal budget deficits would balloon to the $200B-$300B range over the next two years. (XDG, p 4A, 1/15/2004) | Ref: 83 |
| Jan 23 | Gold rises to a five-year high of $365. (USA Today, p 3B, 1/24/2003) | Ref: 13 |
| Feb 03 | President Bush sends lawmakers a $2.23T budget for 2004. (XDG, p 4A, 2/03/2004) | Ref: 83 |
| Feb 06 | (Grasso) The New York Stock Exchange sets up a committee to improve its governance. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Mar 23 | (Grasso) The New York Stock Exchange Big Board nominates Citigroup Chairman Sanford I Weill to be a "public" representative on its board. The nomination is withdrawn after objections from regulators. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Mar 26 | (Grasso) SEC Chairman William Donaldson sends a letter to the NYSE asking for a corporate governance overhaul. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Apr 28 | (Grasso) The government announces a $1.4B settlement in a dispute over Wall Street analysts' conflicts of interest. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| May 07 | (Grasso) The Wall Street Journal discloses NYSE Chairman Dick Grasso's pay and retirement package of $80M - $100M. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| May 13 | USA Today reports on page 1B that "[US] $20 bills get new colors to make counterfeiting tougher". | Ref: 13 |
| Jun 05 | (Grasso) The New York Stock Exchange reappoints Dick Grasso as its Chairman. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Aug 27 | (Grasso) The New York Stock Exchange Big Board discloses Chairman Dick Grasso's retirement package at $139.5M. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Sep 02 | (Grasso) SEC Chairman William Donaldson asks the NYSE for details regarding Chairman Dick Grasso's pay. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Sep 03 | (Mutual Funds) New York Attorney General Eliot Spitzer charges illegal mutual fund trading by a hedge fund, Canary Capital. Named, but not charged in his complaint are Bank of America's Nations Funds, Bank One Corp, Janus Capital and Strong Capital. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Sep 04 | (Mutual Funds) Subpoenas for information from New York Attorney General Eliot Spitzer go to most Wall Street firms and Millenium Management, Vanguard Group and Invesco. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Sep 04 | Today's WSJ reports that former WorldCom CEO Bernard Ebbers pleads 'Not Guilty' to 15 felony counts of violating Oklahoma securities law in Oklahoma County District Court. (WSJ, p A3, 9/4/2003) | Ref: 33 |
| Sep 07 | (Mutual Funds) Justice Department's US Attorney in Manhattan, James Comey plans to join New York Attorney General Eliot Spitzer in the probe of illegal mutual fund traiding. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Sep 08 | (Mutual Funds) New York Attorney General Eliot Spitzer subpoenas 11 other hedge funds for information regarding illegal mutual fund trading. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Sep 09 | (Grasso) After a special meeting, the NYSE discloses an additional $48M (above the previously disclosed $139.5M) for Chairman Dick Grasso's retirement pay, which Grasso forgoes. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Sep 10 | (Mutual Funds) Bank of American begins dismissing employees tied to the illegal mutual fund trading probe. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Sep 11 | Former Enron Treasurer Ben Glisan, 37, pleads guilty to one count of conspiring to commit fraud in a Houston court. He is sentenced to five years in prison with the sentence to begin immediately. (WSJ, p A3, 9/11/2003) | Ref: 33 |
| Sep 16 | (Grasso) Four top pension funds call for NYSE Chairman Dick Grasso's resignation. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Sep 17 | (Grasso) After an emergency board meeting, NYSE Chairman Dick Grasso resigns. (WSJ, p 1, 9/18/2003) | Ref: 33 |
| Sep 26 | The Wall Street Journal today reports on page A3 that former Ernst & Young partner, Thomas C Trauger, 40, has been arrested on criminal charges of obstruction of justice, in one of the first cases of alleged document destruction brought under the 14-month old Sarbanes-Oxley Act. | Ref: 33 |
| Sep 30 | (Mutual Funds) Alliance Capital suspends employees tied to the illegal mutual fund trading probe, citing "conflicts of interest" in fund trading. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 01 | (Mutual Funds) A dozen brokers and managers at Prudential tied to the illegal mutual fund trading probe resign. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 02 | (Mutual Funds) Millenium trader pleads guilty, admitting "late" trades, wieth regard to the illegal mutual fund trading probe. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 03 | (Mutual Funds) New York Attorney General Eliot Spitzer subpoenas Fidelity Investments for information regarding illegal mutual fund trading. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 05 | (Mutual Funds) Merrill Lynch ousts three fund brokers tied to the illegal mutual fund trading probe. Fred Alger Management also suspends three fund brokers. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 15 | (Mutual Funds) Bank One says two executives tied to the illegal mutual fund trading probe have left the company. (WSJ, p C1, 10/29/2003) | Ref: 33 |
| Oct 30 | (Mutual Funds) Putman is the first mutual fund company formally charged in regard illegal mutual fund trading. (WSJ, p C1, 10/29/2003) | Ref: 33 |
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Economics Chronology