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Tag: John D. Rockefeller

Edited by Gerald Boerner

    

    
Introductory Comments:

JerryPhoto_thumb2_thumb_thumbThe notable events on this day through history range from those that were informative, propaganda intended to change public opinion to those that highlight greed and avoid conflict leading to war. A couple of days ago, we dealt with the philanthropy of John D. Rockefeller; today we look at how he accumulated his billions of dollars through the monopoly of Standard Oil of Ohio. The 1870s was a time that saw the rich accumulate great sums of money and value through the control of access to this country’s natural resources, like oil, steel, or transportation. It took President Teddy Roosevelt to bust these trusts to restore the resources to the people.

Standard_Oil

On the other hand, we also look at the creation of the League of Nations in 1920 that brought the nations of the world together in a deliberation forum to talk out their differences without resorting to warfare. Good idea, but it didn’t necessary work. Woodrow Wilson, the architect of the Fourteen Points, suffered a stroke and was unable to campaign for the ratification in a Senate dominated by isolationist; the Treaty of Versailles, and therefore, the League of Nations, was not ratified and the United States did not participate. That, combined with the British and French quest for lands in the middle East. So much for a good idea!

Other good ideas did catch on. The Leonardo of America, Benjamin Franklin, start publishing Poor Richard’s Almanack on this day back in 1753. This publication would become the standard reference for farmers of the time, being helpful in knowing when to plant and harvest their crops. Likewise, Thomas Paine started serializing his famous tomb, Common Sense, on this date in 1776; this propaganda document served as a call to arms to the colonists in their battle with the British.

45 rpm record with large center

Finally, a technology innovation was released on this date in 1949 — the 45 rpm record. RCA provided this recording format to replace the 78 rpm record. The 45 allowed two high-quality recordings to be place on the two sides of this disk; it became the iconic mode of distributing songs during the Rock ‘n Roll era of the 1950s and early 1960s. Besides providing a better medium for selling records, it also created the opportunity for selling new record players due to its large central hole. It also made it easier to load more music in juke boxes in vogue during that period. Just like it replaced the 78 records, it was replaced by the 33 1/3 rpm album popular starting in the late 1950s. Ah, yes, those were the days.

So let’s get going on our overview of the significant events on January 10th… GLB

These Introductory Comments are copyrighted:
Copyright©2012 — Gerald Boerner — All Rights Reserved

[ 1048 Words ]
    

    

Quotations Related to Benjamin Franklin:

[ http://www.brainyquote.com/quotes/authors/b/benjamin_franklin.html ]

    

“A house is not a home unless it contains food and fire for the mind as well as the body.”
— Benjamin Franklin

“A life of leisure and a life of laziness are two things. There will be sleeping enough in the grave.”
— Benjamin Franklin

“A place for everything, everything in its place.”
— Benjamin Franklin

“All mankind is divided into three classes: those that are immovable, those that are movable, and those that move.”
— Benjamin Franklin

“All who think cannot but see there is a sanction like that of religion which binds us in partnership in the serious work of the world.”
— Benjamin Franklin

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Edited by Gerald Boerner

    

    
Introductory Comments:

JerryPhoto_thumb2_thumb_thumbThe events of this day deal with a common theme — the seeking of freedom and the giving of oneself for the good of others. During the Revolutionary War, Haym Solomon worked hard to help raise money to fund the battle of the colonists, as personified by the Sons of Liberty, against their British oppressors. Abraham Lincoln used the Emancipation Proclamation to hold off British and French support for the Confederacy during the Civil War. During World War II, Hollywood entertainers, including the Andrew Sisters and Bob Hope, went into the fields to entertain the troops with their songs, dances, and general humor. These individuals all gave of themselves for their country, as did the troops on those European and Asian battle fields.

ConstitutionPreamble1

In 1960, a wounded World War II hero and U.S. Senator sought the Presidency of this great country; he would call for the people to “Ask not what your country can do for you; ask what you can do for your country.” This president would later pay the supreme price for his youthful goals when he was assassinated on that street in Dallas, Texas.

And during an earlier time, we saw those giants of industrialization turned from their quest of monopolies to the establishment of philanthropic organizations to help the people of the country that had brought them such riches. John D. Rockefeller led the way in this movement, under the attack of another crusading President, Theodore (“Teddy”) Roosevelt. His relative would bring new hope to a nation ravaged by the Great Depression and World War II new hope — a hope of equity of opportunity.

The service of others stood as the foundation of our new nation. Our Constitution called for the creation of a government that would:

“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”

Jefferson_statue

This experiment in government sought to create a new nation that would show concern for each other in a just and fair manner. It has worked, although it took two hundred years to bring its promise to most of its people!

Let’s now take a look at those events that have occurred on this day, January 7th, across the years… GLB

These Introductory Comments are copyrighted:
Copyright©2012 — Gerald Boerner — All Rights Reserved

[ 1033 Words ]
    

    

Quotations Related to Bob Hope:

[ http://www.brainyquote.com/quotes/authors/b/bob_hope.html ]

    

“A bank is a place that will lend you money if you can prove that you don’t need it.”
— Bob Hope

“I do benefits for all religions – I’d hate to blow the hereafter on a technicality.”
— Bob Hope

“I have a wonderful make-up crew. They’re the same people restoring the Statue of Liberty.”
— Bob Hope

“I don’t feel old. I don’t feel anything till noon. That’s when it’s time for my nap.”
— Bob Hope

“A sense of humor is good for you. Have you ever heard of a laughing hyena with heart burn?”
— Bob Hope

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Edited by Gerald Boerner

 

Commentary:

JerryPhotoAt the end of the 19th century our country saw the rise of industrial tycoons such as John D. Rockefeller. He founded the  Standard Oil Company refine and distribute petroleum products. However, he created a monopoly in this industry to control prices, distribution, and transport of these products. Why? To prevent competition from independent producers. At this he was successful to a fault.

When Teddy Roosevelt became president, he launched a campaign of trust-busting. He began strict enforcement of the Sherman Antitrust Act that had been enacted in 1890. Rockefeller was his first target an the monopolistic Standard Oil Company of New Jersey controlled by Rockefeller. This company was found by the Supreme Court upheld the guilty verdict and the company was broken up into many companies whose names were household words until the recent rash of mergers.

We are better off today with competition rather than the control of consumable resources by a few. Perhaps the monopoly was good in the initial development of an industry, but competition helps to refine the industry. Such is our exploration today.

So, let’s get our exploration started…  GLB

These Introductory Comments are copyrighted:
Copyright©2010 — Gerald Boerner — All Rights Reserved

[ 4100 Words ]
    

   

Quotations Related to FINANCIAL:

    

“And a musician has to learn to be frugal and to carefully manage financial affairs.”
— Charlie Byrd

“A second reason why science cannot replace judgement is the behavior of financial markets.”
— Martin Feldstein

“A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.”
— Suze Orman

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