Browsing: Business and Economics

A Brief History On March 15, 1986, the Hotel New World in Singapore arguably became the worst hotel in the world in moments when the six story building suddenly collapsed, burying 50 people under the rubble.  Fortunately, 17 of those people were saved, but the other 33 died. Digging Deeper Hotel New World, originally called the New Serangoon Hotel, was built in 1971 and had a name change in 1984.  The ground floor was a bank, the second floor was a nightclub, and the top four floors were the hotel.  A parking garage was in the basement. Perhaps an omen…

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A Brief History On March 9, 1987, Chrysler Corporation, then maker of Chrysler, Dodge, and Plymouth cars and trucks, announced the absorption of American Motors under the Chrysler banner.  American Motors itself was formed in 1954 when Nash-Kelvinator and Hudson Motor Car Company merged. Digging Deeper Try to follow this corporate puzzle when also in 1954, Packard merged with Studebaker, forming Studebaker-Packard Corporation.  Meanwhile, Kaiser Motors and Willys-Overland, makers of the Jeep brand, had merged in 1953 to create Kaiser Jeep.  Then in 1970, American Motors bought up Kaiser Jeep. American Motors stumbled along until being acquired by Chrysler in…

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A Brief History On March 8, 1950, Volkswagen of Wolfsburg, Germany, began production on their second motor vehicle after the iconic Beetle, this time called Bus, Kombi, or Transporter, but known in the US as the VW Bus, the VW Microbus, or later, the Hippie-mobile. Digging Deeper One of the first van type vehicles, the Bus was originally intended as a light cargo van.  Powered by engines making 24 to 54 horsepower in the 1st generation, the Bus was not meant for racing! Built until 1967 in Germany and until 1975 in Brazil, the 1st Generation was a versatile platform…

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A Brief History On March 6, 2018, founder and former boss of Amazon, Jeff Bezos, was named by Forbes as the richest person in the world, with a net worth of $112 billion.  Such wealth makes us wonder, what can you do with all that money? Digging Deeper Currently, the richest individual person is Elon Musk of Tesla and SpaceX, worth $180 billion, while the family of Bernard Arnault of the LVMH commercial conglomerate is worth $211 billion, while the average American household has a net worth of $192,900. So, what can the super-rich buy with their wealth?  A new…

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A Brief History On January 31, 1846, the result of the Milwaukee Bridge War was the formation of Milwaukee, Wisconsin.  Fought over a bridge being built over the Milwaukee River, two of the three settlements in the area, Juneautown and Kilbourntown, were highly competitive with each other and along with Walker’s Point were incorporated as the Village of Milwaukee in 1839. Digging Deeper The intense rivalry between the leading citizens of each area boiled over in 1845 when one of the several bridges in the village was struck by a schooner sparking rumors of an intentional ramming.  The Kilbourntown people…

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