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Liadan  
#61 Posted : Tuesday, April 15, 2008 11:58:21 AM(UTC)
Liadan

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April 15, 1912

Titanic sinks

At 2:20 a.m. on April 15, 1912, the British ocean liner Titanic sinks into the North Atlantic Ocean about 400 miles south of Newfoundland, Canada. The massive ship, which carried 2,200 passengers and crew, had struck an iceberg two and half hours before.

On April 10, the RMS Titanic, one of the largest and most luxurious ocean liners ever built, departed Southampton, England, on its maiden voyage across the Atlantic Ocean. The Titanic was designed by the Irish shipbuilder William Pirrie and built in Belfast, and was thought to be the world's fastest ship. It spanned 883 feet from stern to bow, and its hull was divided into 16 compartments that were presumed to be watertight. Because four of these compartments could be flooded without causing a critical loss of buoyancy, the Titanic was considered unsinkable. While leaving port, the ship came within a couple of feet of the steamer New York but passed safely by, causing a general sigh of relief from the passengers massed on the Titanic's decks. On its first journey across the highly competitive Atlantic ferry route, the ship carried some 2,200 passengers and crew.

After stopping at Cherbourg, France, and Queenstown, Ireland, to pick up some final passengers, the massive vessel set out at full speed for New York City. However, just before midnight on April 14, the RMS Titanic failed to divert its course from an iceberg and ruptured at least five of its hull compartments. These compartments filled with water and pulled down the bow of the ship. Because the Titanic's compartments were not capped at the top, water from the ruptured compartments filled each succeeding compartment, causing the bow to sink and the stern to be raised up to an almost vertical position above the water. Then the Titanic broke in half, and, at about 2:20 a.m. on April 15, stern and bow sank to the ocean floor.

Because of a shortage of lifeboats and the lack of satisfactory emergency procedures, more than 1,500 people went down in the sinking ship or froze to death in the icy North Atlantic waters. Most of the 700 or so survivors were women and children. A number of notable American and British citizens died in the tragedy, including the noted British journalist William Thomas Stead and heirs to the Straus, Astor, and Guggenheim fortunes.

One hour and 20 minutes after Titanic went down, the [censored]ard liner Carpathia arrived. The survivors in the lifeboats were brought aboard, and a handful of others were pulled out of the water. It was later discovered that the Leyland liner Californian had been less than 20 miles away at the time of the accident but had failed to hear the Titanic's distress signals because its radio operator was off duty.

Announcement of details of the tragedy led to outrage on both sides of the Atlantic. In the disaster's aftermath, the first International Convention for Safety of Life at Sea was held in 1913. Rules were adopted requiring that every ship have lifeboat space for each person on board, and that lifeboat drills be held. An International Ice Patrol was established to monitor icebergs in the North Atlantic shipping lanes. It was also required that ships maintain a 24-hour radio watch.

On September 1, 1985, a joint U.S.-French expedition located the wreck of the Titanic lying on the ocean floor at a depth of about 13,000 feet. The ship was explored by manned and unmanned submersibles, which shed new light on the details of its sinking.

April 15, 1992

Queen of Mean heads to jail

April 15, 1992 was a day of reckoning for Leona Helmsley, as the domineering hotel impresario began what was to be a four-year prison term in Lexington, Kentucky. Heading off to jail on this, the last day of the tax year, was a fitting irony for Helmsley, the so-called "Queen of Mean," who had run afoul of the law for neglecting to pay her taxes. During her trial (Helmsley's husband was also charged with tax evasion, but did not stand trial due to his failing health), Helmsley had admitted to evading the IRS, though she refused to see anything wrong in her actions. Indeed, Helmsley reasoned that the wealthy and famous were exempt from the annual surrender to the IRS. As she infamously explained, "Only the little people pay taxes." The press and public alike vilified Helmsley, and her defense failed to sway the court. Helmsley was initially sentenced to a four-year prison term for tax evasion; she ended up serving only 18 months in jail.

Upon her husband Harry's death in 1997, Helmsley inherited his entire $1.7 billion fortune. In 2002, Helmsley once again found herself in court, this time for the wrongful dismissal of a former employee, who claimed he had been fired solely because he was [censored]. Although he was initially awarded $11 million in damages, the award was later reduced to about $500,000.

Liadan  
#62 Posted : Wednesday, April 16, 2008 9:06:52 AM(UTC)
Liadan

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April 16, 1945

Congress extends Lend-Lease

On April 16, 1945--just four days after President Franklin Roosevelt passed away--the federal government tacked another year on to the term of one of Roosevelt's key pieces of wartime legislation, the Lend-Lease Act. The Lend-Lease bill was originally enacted in 1941, when the U.S. was wavering between entering World War II and remaining neutral. Roosevelt, however, was increasingly committed to the fight against fascism; he was also under growing pressure from British Prime Minister Winston Churchill to cease the practice of selling, rather than lending or outright giving, war materials to England. The Lend-Lease legislation remedied this situation, as America now served as "the great [censored]nal of democracy," providing Great Britain with money and military machinery; in return, England could make repayments either "in kind or property, or any other direct or indirect benefit which the President deems satisfactory." As the war progressed, the U.S. expanded the Lend Lease system to include China and Russia. All told, the U.S. funneled $50.6 billion worth of Lend-Lease aid to the Allies during the war, the majority of which went to Britain and the USSR.
Liadan  
#63 Posted : Thursday, April 17, 2008 10:45:05 AM(UTC)
Liadan

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April 17, 1790

Benjamin Franklin dies

On April 17, 1790, American statesman, printer, scientist, and writer Benjamin Franklin dies in Philadelphia at age 84.

Born in Boston in 1706, Franklin became at 12 years old an apprentice to his half brother James, a printer and publisher. He learned the printing trade and in 1723 went to Philadelphia to work after a dispute with his brother. After a sojourn in London, he started a printing and publishing press with a friend in 1728. In 1729, the company won a contract to publish Pennsylvania's paper currency and also began publishing the Pennsylvania Gazette, which was regarded as one of the better colonial newspapers. From 1732 to 1757, he wrote and published Poor Richard's Almanack, an instructive and humorous periodical in which Franklin coined such practical American proverbs as "God helps those who help themselves" and "Early to bed and early to rise, makes a man healthy, wealthy, and wise."

As his own wealth and prestige grew, Franklin took on greater civic responsibilities in Philadelphia and helped establish the city's first circulating library, police force, volunteer fire company, and an academy that became the University of Pennsylvania. From 1737 to 1753, he was postmaster of Philadelphia and during this time also served as a clerk of the Pennsylvania legislature. In 1753, he became deputy postmaster general, in charge of mail in all the northern colonies.

Deeply interested in science and technology, he invented the Franklin stove, which is still manufactured today, and bifocal eyeglasses, among other practical inventions. In 1748, he turned his printing business over to his partner so he would have more time for his experiments. The phenomenon of electricity fascinated him, and in a dramatic experiment he flew a kite in a thunderstorm to prove that lightning is an electrical discharge. He later invented the lightning rod. Many terms used in discussing electricity, including positive, negative, battery, and conductor, were coined by Franklin in his scientific papers. He was the first American scientist to be highly regarded in European scientific circles.

Franklin was active in colonial affairs and in 1754 proposed the union of the colonies, which was rejected by Britain. In 1757, he went to London to argue for the right to tax the massive estates of the Penn family in Pennsylvania, and in 1764 went again to ask for a new charter for Pennsylvania. He was in England when Parliament passed the Stamp Act, a taxation measure to raise revenues for a standing British army in America. His initial failure to actively oppose the controversial act drew wide criticism in the colonies, but he soon redeemed himself by stoutly defending American rights before the House of Commons. With tensions between the American colonies and Britain rising, he stayed on in London and served as agent for several colonies.

In 1775, he returned to America as the American Revolution approached and was a delegate at the Continental Congress. In 1776, he helped draft the Declaration of Independence and in July signed the final document. Ironically, Franklin's illegitimate son, William Franklin, whom Franklin and his wife had raised, had at the same time emerged as a leader of the Loyalists. In 1776, Congress sent Benjamin Franklin, one of the embattled United States' most prominent statesmen, to France as a diplomat. Warmly embraced, he succeeded in 1778 in securing two treaties that provided the Americans with significant military and economic aid. In 1781, with French help, the British were defeated. With John Jay and John Adams, Franklin then negotiated the Treaty of Paris with Britain, which was signed in 1783.

In 1785, Franklin returned to the United States. In his last great public service, he was a delegate to the Constitutional Convention of 1787 and worked hard for the document's ratification. After his death in 1790, Philadelphia gave him the largest funeral the city had ever seen

April 17, 1975

Connally acquitted in milk bribery case

Though hardly a household name, John Connally led an undeniably notable life. Indeed, Connally was deeply involved in some of the key events during the past half-century of American history. Not only did he help boost Dwight Eisenhower, John F. Kennedy and Lyndon Johnson into the Oval Office, but Connally also served in Kennedy's cabinet and was governor of Texas during the late 1960s. And, in a tragic, though indelible moment, Connally was severely wounded while riding in Kennedy's limousine when the president was assassinated in 1963. However, between 1974 and 1975, Connally suffered through one of the less distinguished patches of his life. Indeed, Connally, who had since switched party allegiances and was working as the treasury secretary in Richard Nixon's Republican White House, was accused of accepting a hefty $10,000 bribe from the American Milk Producers Company; in return, Connally was to push Nixon to hike "price supports" for milk. But, on this day in 1975, Connally was acquitted of the bribery charges and was freed to go on to a life that included a failed bid for the presidency, as well as a rocky, and ultimately ruinous, run in Texas's tumultuous oil and real estate businesses.
Liadan  
#64 Posted : Friday, April 18, 2008 9:46:28 AM(UTC)
Liadan

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April 18, 1806

U.S. boycotts British goods

The ever-tense relationship between Great Britain and the United States--still smoldering well past the close of the Revolutionary War--took a turn for the worse during the early portion of the nineteenth century. Putatively hoping to locate sailors who had deserted the Royal Navy, the British had taken to impressing American merchant ships. Though the deserters often took refuge on American vessels, the British often simply seized any sailors--deserters or no--who failed to prove their American citizenship. So, on this day in 1806, Congress fired back at England by passing the Nicholson Act (nee the Non-Importation Act), legislation which effectively shut the door on the importation of numerous British goods to America. The legislation blocked the trade of brass, tin, textiles and other items that could either be produced in the States or imported from other countries. The Nicholson Act took effect in December of 1806; but, a mere month later, President Thomas Jefferson lifted the trade blockade in hopes of speeding treaty negotiations with Britain. U.S. Minister James Monroe brokered a deal with Britain, albeit one that did little to spare America's commercial ships. In 1808, the government reinstated the Nicholson Act, though it did little to prevent America and England from sailing into another war.

April 18, 1956

Grace Kelly marries Prince Rainier

American actress Grace Kelly marries Prince Rainier of Monaco in a spectacular ceremony.

Kelly, the daughter of a former model and a wealthy industrialist, began acting as a child. After high school, she attended the American Academy for Dramatic Arts in New York. While she auditioned for Broadway plays, she supported herself by modeling and appearing in TV commercials.

In 1949, she debuted on Broadway in The Father by August Strindberg. Two years later, she landed her first Hollywood bit part, in Fourteen Hours. Her big break came in 1952, when she starred as Gary Cooper's wife in High Noon. Her performance in The Country Girl, as the long-suffering wife of an alcoholic songwriter played by Bing Crosby, won her an Oscar in 1954. The same year, she played opposite Jimmy Stewart in Alfred Hitch[censored]'s Rear Window.

While filming another Hitch[censored] movie, To Catch a Thief (1955), in the French Riviera, she met Prince Rainier of Monaco. It wasn't love at first sight for Kelly, but the prince initiated a long correspondence, which led to their marriage in 1956. She became Princess Grace of Monaco and retired from acting. She had three children and occasionally narrated documentaries. Kelly died tragically at the age of 52 when her car plunged off a mountain road by the Cote D'Azur in September 1982.

April 18, 1989

Chinese students protest against government

Thousands of Chinese students continue to take to the streets in Beijing to protest government policies and issue a call for greater democracy in the communist People's Republic of China (PRC). The protests grew until the Chinese government ruthlessly suppressed them in June during what came to be known as the Tiananmen Square Massacre.

During the mid-1980s, the communist government of the PRC had been slowly edging toward a liberalization of the nation's strict state-controlled economy, in an attempt to attract more foreign investment and increase the nation's foreign trade. This action sparked a call among many Chinese citizens, including many students, for reform of the country's communist-dominated political system. By early 1989, peaceful protests against the government began in some of China's largest cities. The biggest protest was held on April 18 in the capital city of Beijing. Marching through Tiananmen Square in the center of the city, thousands of students carried banners, chanted slogans, and sang songs calling for a more democratic political atmosphere.

The government's response to the demonstrations became progressively harsher. Government officials who showed any sympathy to the protesters were purged. Several of the demonstration leaders were arrested, and a propaganda campaign was directed at the marching students, declaring that they sought to "create chaos under the heavens." On June 3, 1989, with the protests growing larger every day and foreign journalists capturing the dramatic events on film, the Chinese army was directed to crush the movement. An unknown number of Chinese protesters were killed (estimates range into the thousands) during what came to be known as the Tiananmen Square Massacre.

In the United States, the protests attracted widespread attention. Many Americans assumed that China, like the Soviet Union and the communist nations of Eastern Europe, had been moving toward a free market and political democracy. The brutal government repression of the protests shocked the American public. The U.S. government temporarily suspended arms sales to China and imposed a few economic sanctions, but the actions were largely symbolic. Growing U.S. trade and investment in China and the fear that a severe U.S. reaction to the massacre might result in a diplomatic rupture limited the official U.S. response.

Liadan  
#65 Posted : Tuesday, April 22, 2008 12:19:28 PM(UTC)
Liadan

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April 22, 1970

Perot takes a bath

April 22, 1970, was a bad day for Ross Perot. The jug-eared Texas billionaire, later known for his quixotic tilts at the White House, had but a few years earlier decided to go public with his computer systems company, E.D.S. The initial offering of E.D.S.'s stock stirred a frenzy on Wall Street and Perot, already rather successful, became one of the half-dozen wealthiest Americans (Perot's riches were so recently acquired that as of 1970 he was not listed in the almanac of affluence, Poor's Register). The good times kept rolling for the company's stock and, as traders hit the pit on the morning of April 22, there was scant reason to think that E.D.S.'s fortunes would change. But, by the end of the day, E.D.S.'s stock had plummeted a whopping fifty to sixty points, a loss which, on paper, cost Perot roughly $450 million. However, the stock's sudden decline remains something of a mystery, though many believe that E.D.S. suffered from "organized" bear raid. Whatever the cause, Perot didn't seem particularly fazed by the event; he reasoned that the loss, as well as the company's previous gains, had only existed on paper. Years later, Perot mentioned that he felt little if anything after hearing the news about his stock; in his eyes, the loss was "purely abstract."

April 22, 1970

The first Earth Day

Earth Day, an event to increase public awareness of the world's environmental problems, is celebrated in the United States for the first time. Millions of Americans, including students from thousands of colleges and universities, participated in rallies, marches, and educational programs.

Earth Day was the brainchild of Senator [censored]lord Nelson of Wisconsin, a staunch environmentalist who hoped to provide unity to the grassroots environmental movement and increase ecological awareness. "The objective was to get a nationwide demonstration of concern for the environment so large that it would shake the political establishment out of its lethargy," Senator Nelson said, "and, finally, force this issue permanently onto the national political agenda." Earth Day indeed increased environmental awareness in America, and in July of that year the Environmental Protection Agency was established by special executive order to regulate and enforce national pollution legislation.

On April 22, 1990, the 20th anniversary of Earth Day, more than 200 million people in 141 countries participated in Earth Day celebrations.

Earth Day has been celebrated on different days by different groups internationally. The United Nations officially celebrates it on the vernal equinox, which usually occurs about March 21.

April 22, 1994

Former President Richard Nixon dies

On this day in 1994, former President Richard M. Nixon dies after suffering a stroke four days earlier. In a 1978 speech at Oxford University, Nixon admitted he had “screwed up” during his presidency but predicted that his achievements would be viewed more favorably with time. He told the young audience, “You'll be here in the year 2000…see how I am regarded then."

Nixon is most often remembered for his involvement in the Watergate scandal as president and for his Cold War-era persecution of suspected communists while serving as a U.S. senator. However, Nixon left a legacy as complex as his personality.

Nixon did not owe his success in politics to personality or charm: in fact, even many of his staunch supporters described him as cold, aloof, crude, arrogant and paranoid. President Dwight D. Eisenhower himself, whom Nixon served as vice president, claimed that Nixon would never win the presidency because “the people don’t like him.” After proving his former boss wrong, Nixon left the office in disgrace, resigning in the face of impending impeachment. His paranoia of political sabotage by his opponents had inspired him to authorize the wire-tapping of enemies and supporters alike. Ironically, it was the conversations he taped in his own office that led to his ultimate downfall.

Despite the immense disappointment and distrust in government that the Watergate scandal inspired in most Americans, Nixon was correct in assuming that some aspects of his leadership would be judged favorably with the passage of time. These include his bold efforts to improve diplomatic relations with China and Russia, as well as pushing lasting and influential legislation through Congress. Nixon’s legislative legacy includes the National Environmental Policy Act, passed in 1969, which created the Environmental Protection Agency (EPA), the Clean Water Act of 1972 and the Endangered Species Act of 1973. He also lowered the voting age to 18, established Amtrak, launched the space-shuttle program and authorized the formation of the Occupational Safety and Health Administration (OSHA). During his retirement, several subsequent presidents consulted Nixon for his expertise in international affairs.

Nixon and his wife Pat are both buried on the grounds of his birthplace in Yorba Linda, California. The site is also the home of the Richard Milhous Nixon Presidential Library.

Liadan  
#66 Posted : Wednesday, April 23, 2008 4:52:21 PM(UTC)
Liadan

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April 23, 1996

MCA gets its man

After a protracted patch of haggling and high-powered corporate squabbling, Frank Biondi began work at Seagram Co. Ltd.'s MCA on this day in 1996. Seagram honcho Edgar Bronfman Jr. had been aggressively pursuing Biondi to run MCA; however, his efforts had been rebuffed by Viacom Chairman Sumner Redstone. Redstone, who had tacitly anointed Biondi as his successor, had hoped to wheedle "business concessions" from Seagram in return for relinquishing his prized employee. Business-related wrangling between MCA and Viacom, both big-rollers in the cable industry who had formed partnerships in a number of ventures, including the USA Network, further complicated these negotiations. But, in a move that took most observers, including Bronfman, by surprise, Redstone suddenly decided to "free" Biondi from his contract with Viacom. Though he was ostensibly clearing the path for his heir to take the reigns at MCA, Redstone cited Biondi's passive business approach as a prime motivation for the termination of his contract.

April 23, 1987

Chrysler announces Lamborghini purchase

The Chrysler Corporation announced its pending purchase of Lamborghini. Lamborghini had been through a tumultuous series of financial difficulties since its founder Ferrucio Lamborghini sold out of the company in 1974. The company had been owned by a group of Swiss businessmen who kept the Lamborghini name. Riding the sales of the Countache, the company's popular but impractical 1971 release, they stayed above water until 1978, when they were forced into bankruptcy. Lamborghini was purchased by the Mimran family, who owned the company until the mid-1980s. In the early 1980s, Lamborghini produced two new Countaches, the LP500 and the Quattrovalvole. Both cars enjoyed great success. The company's financial status rebounded, and its rebound sparked the attention of the Chrysler Corporation. Chrysler bought the company in 1987, and, in 1988, it released the final Lamborghini Countache, which it called the 25th Anniversary in recognition of the company's founding in 1963. The 25th Anniversary Countache was the most popular ever. It reached a top speed of 184mph, and it traveled from 0 to 60 in five seconds. No one imagined Lamborghini would ever build a better car. In 1990 Chrysler built the Lamborghini Diablo, arguably the crowning achievement in the company's quest to build the ultimate sports car. The Diablo was sleeker than the Countache, and employed the traditional V-12 engine. The Diablo was the first four-wheel drive car road car to break 200mph with its top speed of 204mph. It made 0 to 60 in four seconds. Despite being owned by Chrysler, Lamborghini lived up to its founder's ideals.

Liadan  
#67 Posted : Friday, April 25, 2008 9:32:45 AM(UTC)
Liadan

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April 25, 1996

Compromise on Capitol Hill

Leaders on Capitol Hill could breathe a bit easier on this day in 1996, as the Senate gave a resounding nod to the spending for the upcoming fiscal year. Never ones to move swiftly on budget or spending agreements, White House officials and Republican leaders had spent seven months wrangling over a bill. But the disastrous budget negotiations from the previous year, which had resulted in a temporary shutdown of the government that stained the reputations of key Republican legislators, no doubt helped speed the compromise. The budget deal, along with the Senate's "overwhelming" approval of the bill (the final vote tallied eighty-eight to eleven in favor of the legislation), triggered a wave of optimism on Capital Hill. Newt Gingrich, the occasionally cantankerous House Speaker, called the spending deal a "yardstick," while White House spokesman Mike McCurry said that President Clinton and his staff saw "some glimmer of hope" in the Republicans and Democrats' ability to lay down their swords and work out a compromise.
Liadan  
#68 Posted : Monday, April 28, 2008 10:27:42 AM(UTC)
Liadan

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April 28, 1930

Jim Baker is born

Today marks the birthday of James Baker, one of the key figures during President Ronald Reagan's two-term run in the White House. Born in Texas in 1930, Baker served in the military before heading to the University of Texas to earn his law degree. By the mid-1970s, Baker became a fiscally minded public servant and did a stint as the under secretary of commerce in President Gerald Ford's cabinet. A favorite son of the Republican Party, Baker helped the GOP team of Reagan and George Bush capture the Oval Office in 1980; Reagan rewarded Baker by handing him the plum role as White House chief of staff. However, early in Reagan's second term in office, Baker felt the fiscal itch and swapped jobs with then-Secretary of the Treasury, Donald Reagan. Baker took over at the Treasury in February of 1985, amidst fears from arch conservatives that he would push through a round of unsavory tax hikes.

April 28, 1952

Ike steps down as supreme commander

At his own request, General Dwight D. Eisenhower, one of the most highly regarded American generals of World War II, was relieved of his post as supreme commander of the combined land and air forces of the North Atlantic Treaty Organization (NATO). In 1942, General Eisenhower commanded American forces in Great Britain, in 1943, led the invasions of North Africa and Italy, and in 1944, was appointed supreme commander of the Allied invasion of Western Europe. After the war, he briefly served as president of Columbia University, before returning to military service in 1951 as supreme commander of NATO--a permanent military alliance established in 1949 by the democracies of Western Europe and North America as a sa[censored]uard against the threat of Soviet aggression. However, pressure on Eisenhower to run for the U.S. presidency was great, and in April of 1952, he relinquished his NATO command to campaign on the Republican ticket. In November 1952, "Ike" won a resounding victory in the presidential elections, and in 1956, he was reelected by a landslide.

April 28, 1959

De Gaulle resigns

Following the defeat of his proposals for constitutional reform in a national referendum, Charles de Gaulle resigned as president of France. A veteran of World War I, de Gaulle unsuccessfully petitioned his country to modernize its armed forces between the wars. After Philippe Petain and other French leaders signed an armistice with [censored] Germany in June 1940, he fled to London, where he organized the Free French forces and rallied French colonies to the Allied cause. His forces fought successfully in North Africa, and in June 1944, he was named head of the French government in exile. On August 26, following the Allied invasion of France, de Gaulle entered Paris in triumph and in November was unanimously elected provisional president of France. However, he resigned two months later, claiming he lacked sufficient governing power. He formed a new political party that had only moderate electoral success, and in 1953, he retired. However, five years later, a military and civilian revolt in Algeria created a political crisis in France, and he was called out of retirement to lead the nation. A new constitution was passed, and in late December, he was elected president of the Fifth Republic. Over the next decade, President de Gaulle granted independence to Algeria and attempted to restore France to its former international stature by withdrawing from the U.S.-dominated NATO alliance and promoting the development of French atomic weapons. However, student demonstrations and workers' strikes in 1968 eroded his popular support, and in 1969, his proposals for further constitutional reform were defeated in a national vote. On April 28, 1969, Charles de Gaulle, seventy-nine years old, retired for good. He died the following year.

April 28, 1977

Red Army faction leaders sentenced

In Stuggart, West Germany, the lengthy trial of the leaders of the Baader-Meinhof Gang, also known as the "Red Army Faction," ended with Andreas Baader and over twenty others being sentenced to life imprisonment for their terrorist activities. The Red Army Faction was founded by ultra-left revolutionaries Andreas Baader and Ulrike Meinhof in 1970. Advocating Communist revolution in West Germany, the group employed terrorist tactics against government, military, and corporate leaders in an effort to topple capitalism in their homeland. By 1975, most RAF members, including Andreas Baader and Ulrike Meinhof, were in custody. The same year, Meinhof killed herself and the lengthy trial of Baader and his RAF associates began. During the two-year trial, RAF members still at large continued the Meinhof-Baader Gang's program of violence and assassination. Six months after Baader and the others were sentence to life in prison, Palestinian terrorists, who had close ties with the RAF, hijacked a Lufthansa airliner to Somalia, and called for the release of eleven imprisoned RAF members. On October 17, 1977, after the pilot was killed, a German special forces team stormed the plane in Mogadishu, releasing the captives and killing the hijackers. Andreas Baader and other imprisoned leaders responded to the news by immediately committing suicide in their jail cell at Stammheim. Despite the death of its leader, scattered violence committed by Red Army Faction members continued into the 1990s.

Liadan  
#69 Posted : Thursday, May 1, 2008 8:29:39 AM(UTC)
Liadan

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May 1, 1794

S[censored]makers form union

The long and turbulent history of America's labor unions officially began on this day in 1794, as a group of s[censored]makers decided to join forces in the battle for wages and workplace amenities. The s[censored]makers, who consecrated their new brotherhood by gathering in Philadelphia, christened themselves the Federal Society of Journeymen Cordwainers. The Cordwainers' move to unionize was borne of the shift from "economic clientage" to an open wage system that occurred in America during the late eighteenth century. This change inspired workers such as the s[censored]makers join forces in hopes of legitimizing their wage scales and guarding against competition from bargain-basement priced labor, craftsmen.

May 1, 1810

Congress passes Macon's Bill No. 2

During the early 1800s, the United States' relations with both England and France were particularly chilly. American merchant ships had become ensnared in the Napoleonic Wars, prompting Congress and President Thomas Jefferson to take economic action against the British and French governments. However, their decision to seal off trade with Europe proved to be a bad misstep: the embargo caused most domestic merchants to suffer, while some French traders in fact prospered. Legislators moved to rectify the situation by passing the Non-Intercourse Act (1809), which renewed trade relations between America and Europe, save for Britain and France. However, America soon reopened the waters to trade with its recalcitrant partners. First, in the spring of 1809, President James Madison lifted the embargo against England; then, on this day in 1810, Congress passed Macon's Bill No. 2, which granted Madison the power to resume trade with England and France. The legislation, which also gave Madison the leeway to slam shut the door to trade with either nation, was hardly a hit at home or abroad: Federalist forces lambasted Macon's Bill, while the French viewed it as a clear demonstration of America's pro-British leanings. The hostilities hardly abated and, a few short years later, Madison sailed the nation into the War of 1812.

May 1, 1830

Mother Jones is born

This day in history marks the birth of one of the most passionate and enduring figures in the American union movement, "Mother" Mary Harris Jones. Born on May 1, 1830, in Ireland, Jones immigrated to the United States and married an ironworker. Her involvement with labor was sparked by twin tragedies in the latter half of the nineteenth century: Jones lost her husband in 1867, and then all her worldly goods in the Chicago fire of 1871. Left in a seemingly desperate bind, Jones sought help from the Knights of Labor, then a nascent labor organization enjoying its first fruits of success. Jones identified with the Knights' push to ameliorate workers' lives, and readily lent her help to their cause. She proved to be a fierce organizer and a tremendous public speaker, inspiring crowds of workers to join forces with the labor movement. By 1890, Jones had became one of the flag-bearers for the United Mine Workers, crusading in the name of organizing and aiding the nation's coal miners. Jones passed away in November of 1930, just as America and its workers were descending into the depths of the Great Depression.

May 1, 1931

Empire State Building dedicated

On this day in 1931, President Herbert Hoover officially dedicates New York City's Empire State Building, pressing a button from the White House that turns on the building's lights. Hoover's gesture, of course, was symbolic; while the president remained in Washington, D.C., someone else flicked the switches in New York.

The idea for the Empire State Building is said to have been born of a competition between Walter Chrysler of the Chrysler Corporation and John Jakob Raskob of General Motors, to see who could erect the taller building. Chrysler had already begun work on the famous Chrysler Building, the gleaming 1,046-foot skyscraper in midtown Manhattan. Not to be bested, Raskob assembled a group of well-known investors, including former New York Governor Alfred E. Smith. The group chose the architecture firm Shreve, Lamb and Harmon Associates to design the building. The Art-Deco plans, said to have been based in large part on the look of a pencil, were also builder-friendly: The entire building went up in just over a year, under budget (at $40 million) and well ahead of schedule. During certain periods of building, the frame grew an astonishing four-and-a-half stories a week.

At the time of its completion, the Empire State Building, at 102 stories and 1,250 feet high (1,454 feet to the top of the lightning rod), was the world's tallest skyscraper. The Depression-era construction employed as many as 3,400 workers on any single day, most of whom received an excellent pay rate, especially given the economic conditions of the time. The new building imbued New York City with a deep sense of pride, desperately needed in the depths of the Great Depression, when many city residents were unemployed and prospects looked bleak. The grip of the Depression on New York's economy was still evident a year later, however, when only 25 percent of the Empire State's offices had been rented.

In 1972, the Empire State Building lost its title as world's tallest building to New York's World Trade Center, which itself was the tallest skyscraper for but a year. Today the honor belongs to Taiwan's Taipei 101 building, which stretches 1,670 feet into the sky.

Liadan  
#70 Posted : Friday, May 2, 2008 10:35:36 AM(UTC)
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May 2, 1985

E.F. Hutton & Co. pleads guilty

May 2, 1985, was a day of reckoning for E.F. Hutton & Co., as the New York-based brokerage giant tendered a guilty plea to charges that it had engineered a massive check-writing swindle. Standing before a court in Scranton, Pennsylvania, E.F. Hutton's lawyers admitted that the firm had managed to soak hefty sums of money from its various bank accounts without paying a cent of interest. According to Attorney General Edward Meese, the firm wrote somewhere in the neighborhood of $4 billion in checks between the summer of 1980 and February 1982. In return for this complex, and lucrative, scheme, E.F. Hutton consented to pay roughly $10 million, which covered fines, as well as restitution to the victimized banks. However, none of the roughly twenty-four employees involved in the swindle faced criminal charges; Meese and his team granted some immunity and opted not to prosecute the rest on the grounds that they had not "personally benefited" from their "corporate scheme."
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#71 Posted : Monday, May 5, 2008 8:08:24 AM(UTC)
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May 5, 1895

Silver strike in the House

Following the lead of Richard Bland (Missouri) and journalist-turned-political-firebrand, William Jennings Bryan (Nebraska), Democrats in Congress mounted the charge for the free coinage of silver on this day in 1895. Though the Democrats were the minority party in the House, their legislation on behalf of silver was not without support. Indeed, with the nation still licking its wounds from the depression of 1893, there was growing sentiment behind a shift from the gold standard to silver. While the Democrats failed to push the free coinage of silver into the law books, Bryan and his allies in the party remained undeterred. The following year, the Democrats tabbed Bryan as their presidential nominee, in hopes that he could ride the silver issue all the way to the Oval Office. Though Bryan roused the troops at the Democratic convention, famously chiding the Republicans and hard money advocates for attempting to "crucify mankind on a cross of gold," his fiery oratory and unswerving support for silver proved to be no match for his competitor, the Republican nominee and chosen candidate of Big Business, William McKinley.

May 5, 1933

Woodin wages war against Depression

William Woodin stepped into his role as the fifty-first Secretary of the Treasury during one of the most turbulent and dramatic periods in the nation's fiscal history. Tabbed by President Franklin Roosevelt for the Treasury post on this day in 1933, Woodin was immediately enlisted in the battle against the Depression. And, just four days after Woodin assumed office, President Roosevelt called the now-famous "banking holiday" that temporarily shuttered America's financial institution. Over the next ten days, Roosevelt, Woodin and other leaders worked to stabilize America's finances and stem the public's frantic drive to yank their funds from the nation's banks. The "holiday" also gave Roosevelt time to push the Emergency Banking Act through the legislative chain; quickly adopted by Congress, the legislation not only granted the president increased economic authority, but enlarged the responsibilities of Woodin and the Treasury. Indeed, when the banks reopened, they were now under the watchful eye of the secretary of the Treasury. Along with minding America's fiscal institutions, Woodin was also charged with pumping the economy with new Federal Reserve notes and taking measures to bolster the public's faith in the economy. However, the hefty task of righting the nation's economic ills soon took a toll on Woodin's health; he resigned on December 31, 1933, less than a year after taking over at the helm of the Treasury.

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#72 Posted : Tuesday, May 6, 2008 8:58:53 AM(UTC)
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May 6, 1935

America goes back to work

On this day in 1935, the Works Progress Administration (WPA), threw open its doors and began the monumental task of sending scores of unemployed Americans back to work. Perhaps the key program developed during the New Deal, President Franklin Roosevelt's "alphabet soup" of government agencies aimed at alleviating the damage wrought by the Great Depression, the WPA handed Americans decent-paying jobs on a myriad of public works projects. But, WPA jobs were hardly sinecures; workers employed via the agency constructed a head-spinning array of public structures, including parks, playgrounds, schools and post-offices. And, through its creatively inclined arms (the Federal Art Project and Federal Theater Project), the WPA set painters, actors, musicians and writers to work on public arts projects that depicted the lives of America's workers. All told, the WPA (which was renamed the Works Projects Administration in 1939) was responsible for employing 8.5 million Americans during its eight-year tenure. Despite these considerable fruits, the WPA was an expensive program--the agency spent roughly $11 billion during its lifetime--which prompted attacks from more penurious voices in the nation. By the summer of 1943, World War II had almost entirely usurped the efforts of America's work force, and the WPA was permanently closed.
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#73 Posted : Wednesday, May 7, 2008 3:10:35 PM(UTC)
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May 7, 1769

Washington endorses non-importation

Revolution was in the air on this day in 1769, as George Washington launched a legislative salvo at Great Britain's fiscal and judicial attempts to maintain its control over the American colonies. With his sights set on the British policy of "taxation without representation," Washington brought a package of non-importation resolutions before the Virginia House of Burgesses. The resolutions, drafted by George Madison largely in response to England's passage of the Townshend Act in 1767, also decried parliament's plan to send American criminals to England for trial. Though Virginia's Royal Governor promptly fired back by disbanding the House of Burgesses, the revolutionaries were undeterred: during a makeshift meeting held at the Raleigh Tavern in Williamsburg, Virginia's delegates gave their support the non-importation resolutions. As a result, Virginia sealed off a good chunk of its trade with England pending the repeal of the Townshend Acts. This proved to be a contagious maneuver, as the other American colonies spent the summer adopting their own non-importation resolutions.

May 7, 1998

Daimler and Chrysler merge

Merger mania seized the automobile industry on this day in 1998, as American auto giant Chrysler Corp. signed a $38 billion deal with German-based Daimler-Benz AG. The merger, first hatched in January of 1998 by Daimler chief Juergen Schrempp, created a company that, at least on paper, was well-equipped to do battle in the global marketplace. Not only did Chrysler stand to make a belated move into the German market, but Daimler gained even greater access to American consumers. Moreover, the new company, now known as DaimlerChrysler, was stocked with a diverse roster of products, ranging from mid-priced Chryslers to s[censored] Mercedes that cut across a wide swath of the global car market. While yet another international alliance between two industry behemoths raised the hackles of some anti-trust forces, the DaimlerChrysler deal ultimately gained official approval on both sides of the Atlantic, consecrating what Schrempp promised would be the "world's leading automotive company for the twenty-first century."

Liadan  
#74 Posted : Thursday, May 8, 2008 8:12:50 AM(UTC)
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May 8, 1974

Shultz steps down

Industrial economist and labor relations expert George P. Shultz was one of the stalwart figures during Richard Nixon's often embattled tenure in the White House. Indeed, Shultz held a variety of fiscally minded posts during Nixon's terms in office: along with a stint as Secretary of Labor, Shultz also served as the first director of the Office of Management and Budget. In 1972, Nixon tabbed Shultz to be the sixty-second secretary of the Treasury; Shultz ran the Treasury for two years before stepping down on this day in 1974. Shultz enjoyed a healthy career in academia before joining forces with Nixon: in 1949, he earned a Ph.D. in industrial economics from the Massachusetts Institute of Technology, and soon joined the school's faculty. Shultz later worked as the Dean of the University of Chicago's Graduate School of Business (1962-1968). But, Shultz's glittery resume proved to be little help as America's once-mighty economy began to struggle through a prolonged slump during the early 1970s. Though Shultz, Nixon and other members of the cabinet tried to put the breaks to the slide, the economy refused their remedies and continued to struggle throughout the decade.

May 8, 1984

Soviets to boycott L.A. Olympics

Citing fears for the safety of its athletes in what it considered a hostile and anti-communist environment, the Soviet government announces a boycott of the 1984 Summer Olympic Games to be held in Los Angeles, California.

Although the Soviets had cited security concerns, the boycott was more likely the result of strained Cold War relations due to America's generous aid to Muslim rebels fighting in Afghanistan--and payback for the U.S. boycott of the 1980 Moscow Olympic Games. A number of other Soviet Bloc countries and Cuba followed suit in boycotting the Los Angeles Games, which carried on without the presence of many of the communist world's best athletes. China, however, participated in the Los Angeles Summer Games in its first Olympic appearance since 1952.

Liadan  
#75 Posted : Tuesday, May 13, 2008 8:09:16 AM(UTC)
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May 13, 1998

Kmart's profits soar

May 13, 1998 was a good day for Kmart: after suffering through a dismal, and potentially fatal, spate during the early 1990s, the stalwart retailer announced that its first-quarter profits for the year had skyrocketed by 236 percent to $47 million. These heady numbers were seemingly another sign of Kmart's resurgence, and sparked a round of guardedly optimistic comments from the company's brass. Company Chief Executive Floyd Hall noted that, "(W)ith our eight consecutive quarters of increased earnings per share, we continue to feel good about the turnaround momentum at Kmart." Hall attributed Kmart's comeback to a number of factors, including a tighter inventory, sound company finances and "strong increases" in apparel and consumables. Retail industry analysts also pointed to broader social and fiscal trends-namely, America's booming economy and the public's subsequent willingness to loosen its collective purse strings. Indeed, Kmart was but one of a number of retailers racking up profits during the extended bull run of the late 1990s.
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#76 Posted : Wednesday, May 14, 2008 5:02:33 PM(UTC)
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May 14, 1884

Trustbusters aim for White House

During the late nineteenth century, some of America's corporate leaders, including Andrew Carnegie, went on a rampage, gobbling up the competition-and the vast majority of profits-in their respective fields. While the rise of monopolistic corporations, or "trusts," made fiscal sense for business leaders like Carnegie, it raised the hackles of Americans who had placed their faith in a more even, and carefully monitored, playing field. Not only did trusts arouse considerable protest, but they also gave birth to a reform-minded political movement. And, on this day in 1884, forces from that movement, in the guise of the freshly formed Anti-Monopoly Party, held their first convention to nominate a candidate for the White House. The Anti-Monopoly Party tabbed as their presidential nominee General Benjamin Butler, a staunch unionist who had switched allegiances from the Northern Democrats to the Radical Republicans before joining the Anti-Monopolists. Though Butler failed to capture the Oval Office and the Anti-Monopoly Party ultimately foundered, the call for legislation aimed at reigning in the trusts did not go unheeded: in 1890, the Federal Government enacted the Sherman Anti-Trust Act, the landmark bill designed to tame the trusts.
Liadan  
#77 Posted : Thursday, May 15, 2008 8:10:02 AM(UTC)
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May 15, 1882

President Arthur investigates tariffs

In the years following the Civil War, the U.S. government used tariffs to shield the nation's manufacturers from the ravages of foreign competition. While the tariffs had their intended effect, there were those in government, and even in business, who questioned the government's unswerving allegiance to high duties. And so, on this day in 1882, President Chester A. Arthur formed a high-level commission to tackle the tariff issue. Though the commission was putatively charged with weighing the relative merits of tariffs, both in terms of the impact on global trade and smaller domestic enterprises, the deck was stacked in favor of protectionist and industrial interests. Indeed, the commission's nine members included John L. Hayes, the secretary of the National Association of Wool Manufacturers, a likely proponent of protectionist measures. Unsurprisingly, the commission weighed in with a favorable report on tariffs as a means to preserve the integrity and interests of American-made goods.

May 15, 1937

Madeleine Albright is born

On this day in 1937, Madeleine Albright, America's first female secretary of state, is born Maria Jana Korbelova in Prague, Czechoslovakia (now the Czech Republic).

The daughter of Czech diplomat Josef Korbel, Albright fled to England with her family after the [censored]s occupied Czechoslovakia in 1939. Though Albright long believed they had fled for political reasons, she learned as an adult that her family was Jewish and that three of her grandparents had died in [censored] concentration camps. The family returned home after World War II ended but immigrated to the United States in 1948 after a Soviet-sponsored Communist coup seized power in Prague. Josef Korbel became dean of the school of international relations at the University of Denver (where he would later train another female secretary of state, Condoleeza Rice).

After graduating from Wellesley College in 1959, Albright married Joseph Medill Patterson Albright of the prominent Medill newspaper-publishing family. With an MA and PhD from Columbia University under her belt, Albright headed to Washington, D.C., where she worked for Maine's Senator Edmund S. Muskie and served on the National Security Council in the administration of President Jimmy Carter. She and Joseph Albright divorced in 1982. During the Republican presidencies of Ronald Reagan and George H.W. Bush, Albright worked for several nonprofit organizations and taught at Georgetown University's School of Foreign Service.

With a Democrat--Bill Clinton--in the White House again in 1992, Albright found herself at the center of Washington's most powerful circle. In 1993, Clinton appointed her ambassador to the United Nations. In that post, Albright earned a reputation as a straight-talking defender of American interests and an advocate for an increased role for the U.S. in U.N. operations. In late 1996, Clinton nominated Albright to succeed Warren Christopher as U.S. secretary of state. After her nomination was unanimously confirmed by the Senate, she was sworn in on January 23, 1997.

As secretary of state, Albright pursued an active foreign policy, including the use of military force to pressure autocratic regimes in Yugoslavia and Iraq, among other troubled regions. Her trip to North Korea in October 2000 to meet with leader Kim Jong Il made her the highest-ranking U.S. official to visit that country. She drew some criticism for her tough position on U.S. sanctions against Iraq, which led to many civilian deaths in that country and fueled the rage of Muslim extremists such as Osama bin Laden.

Albright's term ended with the election of President George W. Bush in 2000. Though there was talk of her entering Czech politics, she returned to her teaching post at Georgetown and became chair of a nonprofit organization, the National Democratic Institute for International Affairs.

Liadan  
#78 Posted : Friday, May 16, 2008 8:18:39 AM(UTC)
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May 16, 1770

Louis marries Marie Antoinette

At Versailles, Louis, the French dauphin, marries Marie Antoinette, the daughter of Austrian Archduchess Maria Theresa and Holy Roman Emperor Francis I. France hoped their marriage would strengthen its alliance with Austria, its longtime enemy. In 1774, with the death of King Louis XV, Louis and Marie were crowned king and queen of France.

From the start, Louis was unsuited to deal with the severe financial problems he had inherited from his grandfather, King Louis XV. In addition, his queen fell under criticism for her extravagance, her devotion to the interests of Austria, and her opposition to reform of the monarchy. Marie exerted a growing influence over her husband, and under their reign the monarchy became dangerously alienated from the French people. In a legendary e[censored]ode, Marie allegedly responded to the news that the impoverished French peasantry had no food to eat by declaring "Let them eat cake."

At the outbreak of the French Revolution, Marie and Louis resisted the advice of constitutional monarchists who sought to reform the monarchy in order to save it, and by 1791 opposition to the royal pair had become so fierce that the two were forced to attempt an escape to Austria. During their trip, Marie and Louis were apprehended by revolutionary forces at Varennes, France, and carried back to Paris. There, Louis was forced to accept the constitution of 1791, which reduced him to a mere figurehead.

In August 1792, the royal couple was arrested by the sansculottes and imprisoned, and in September the monarchy was abolished by the National Convention. In November, evidence of Louis' counterrevolutionary intrigues with Austria and other foreign nations was discovered, and he was put on trial for treason by the National Convention. The following January, Louis was convicted and condemned to death by a narrow majority. On January 21, he walked steadfastly to the guillotine and was executed. Nine months later, Marie Antoinette was convicted of treason by a tribunal, and on October 16 she followed her husband to the guillotine.

May 16, 1886

Congress nixes disme

On this day in 1866, Congress dealt a crushing blow to fans of the half-disme by voting to discontinue use of the small silver coin. However, the disme's defeat resulted in the birth of one of the enduring coins of the late nineteenth and twentieth centuries. The House voted to replace the half-disme with a five-cent piece, which was affectionately dubbed the "nickel." The initial version of the nickel, which featured a shield on the front and a "5" on the back, was plain-faced, but successive runs of the coin were more ornate. In 1913, the Bureau of Engraving and Printing issued the now-coveted "buffalo" nickel, with a buffalo and a bust of a Native American on its respective sides. The current, and even more ornate, incarnation of the coin pays homage to Thomas Jefferson--featuring the third U.S. president's likeness on one side and a rendering of his home, Monticello, on the other.
Liadan  
#79 Posted : Monday, May 19, 2008 1:01:14 PM(UTC)
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May 19, 1749

Ohio Company chartered

King George II of England grants the Ohio Company a charter of several hundred thousand acres of land around the forks of the Ohio River, thereby promoting westward settlement by American colonists from Virginia. France had claimed the entire Ohio River Valley in the previous century, but English fur traders and settlers contested these claims. The royal chartering of the Ohio Company, an organization founded primarily by Virginian planters in 1747, directly challenged the French claim to Ohio and was a direct cause of the outbreak of the French and Indian War in 1754.

With the defeat of the French in 1763, the Ohio River and the Great Lakes areas were placed within the boundaries of Canada, and the Ohio Company was merged with another land company to better exploit the region. Settlers in Ohio resented these acts and joined the patriots in their struggle against the British in the American Revolution. In 1783, Ohio was ceded to the United States with the signing of the Treaty of Paris. In 1788, Marietta became the first permanent American settlement in what was known as the Old Northwest. During the next decade, Native Americans were suppressed and British traders were pushed out, and in 1799 Ohio became a U.S. territory. In 1803, it entered the Union as the 17th state.

May 19, 1828

Congress passes "Tariff of Abominations"

Wool manufacturers won a handsome victory on May 19, 1828, when President John Quincy Adams gave the nod to the tariff of 1828. Not surprisingly, the tariff aroused howls of protest, most notably from Andrew Jackson's allies in the House, who had hoped to kill the bill as a means of humiliating Adams. Though Jackson's forces failed to block the passage of the tariff, they refused to give up, and in 1832, helped enact legislation that rolled back rates to their more modest 1824 levels. But, the tariff of 1832 failed to diffuse the situation--a number of states, including South Carolina, refused compromise measures and instead pushed for the complete nullification of the 1828 legislation. With a nasty battle looming on the horizon, Henry Clay stepped in with a proposal for a "compromise tariff" of 1833. While Clay's bill appeased the competing interests of manufacturers and farmers, it couldn't remove the stigma of the 1828 tariff which, in the intervening years, came to be known as the "tariff of abominations."
Liadan  
#80 Posted : Tuesday, May 20, 2008 9:25:37 AM(UTC)
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May 20, 1873

Levi Strauss and Jacob Davis receive patent for blue jeans

On this day in 1873, San Franci[censored]sinessman Levi Strauss and Reno, Nevada, tailor Jacob Davis are given a patent to create work pants reinforced with metal rivets, marking the birth of one of the world's most famous garments: blue jeans.

Born Loeb Strauss in Buttenheim, Bavaria, in 1829, the young Strauss immigrated to New York with his family in 1847 after the death of his father. By 1850, Loeb had changed his name to Levi and was working in the family dry goods business, J. Strauss Brother & Co. In early 1853, Levi Strauss went west to seek his fortune during the heady days of the Gold Rush.

In San Francisco, Strauss established a wholesale dry goods business under his own name and worked as the West Coast representative of his family's firm. His new business imported clothing, fabric and other dry goods to sell in the small stores opening all over California and other Western states to supply the rapidly expanding communities of gold miners and other settlers. By 1866, Strauss had moved his company to expanded headquarters and was a well-known businessman and supporter of the Jewish community in San Francisco.

Jacob Davis, a tailor in Reno, Nevada, was one of Levi Strauss' regular customers. In 1872, he wrote a letter to Strauss about his method of making work pants with metal rivets on the stress points--at the corners of the pockets and the base of the button fly--to make them stronger. As Davis didn't have the money for the necessary paperwork, he suggested that Strauss provide the funds and that the two men get the patent together. Strauss agreed enthusiastically, and the patent for "Improvement in Fastening Pocket-Openings"--the innovation that would produce blue jeans as we know them--was granted to both men on May 20, 1873.

Strauss brought Davis to San Francisco to oversee the first manufacturing facility for "waist overalls," as the original jeans were known. At first they employed seamstresses working out of their homes, but by the 1880s, Strauss had opened his own factory. The famous 501 brand jean--known until 1890 as "XX"--was soon a bestseller, and the company grew quickly. By the 1920s, Levi's denim waist overalls were the top-selling men's work pant in the United States. As decades passed, the craze only grew, and now blue jeans are worn by men and women, young and old, around the world.

May 20, 1996

Big Business battles big damage awards

On this day in 1996, the Supreme Court saved BMW a tidy chunk of change by overturning a state court ruling that had called for the auto giant to pay $2 million to an Alabama doctor. In the original case, Dr. Ira Gore of Birmingham, Alabama, had sued the car company after learning that, prior to purchasing his BMW, the car had been repainted. Charging that the car was, in fact, damaged, Gore sued. Though the car seemed to be in fine shape, an Alabama court handed Gore over $4 million in actual and punitive damages. Though Gore's hefty award was later trimmed to $2 million by the Alabama Supreme Court, BMW wasn't mollified by the reduction and pushed their case to the Supreme Court. The Court's subsequent ruling, founded on the justice's belief that the initial damage payment was "grossly excessive," not only pleased BMW, but business leaders across the country who had long crusaded against lower court's habit of handing out hefty damage awards in cases against corporate America.

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