• Thought of the Day

    Thought of the Day

    2000: The gods like a man whether hes holy or not if hes only decent.

    –James Stephens, The Crock of Gold (New York: Collier, 1986), p. 93.

Today in Financial History

2001: A new milestone in the history of road rage: Fidelity Investments and General Motors' OnStar division announce that they are developing technology that will enable drivers to do wireless stock trading while driving.

The Wall Street Journal, February 14, 2001, p. B6

1997: Just four months after it broke the 6000 barrier — the shortest interval between 1000 marks yet recorded — the Dow Jones Industrial Average closes above 7000 for the first time, finishing the day at 7022.44.

John A. Prestbo, ed., The Market's Measure: An Illustrated History of America Told through the Dow Jones Industrial Average (Dow Jones, New York, 1999), p. 106

1990: Junk-bond giant Drexel Burnham Lambert seeks bankruptcy protection, only days after chief executive Fred Joseph had told The Wall Street Journal, "I see daylight. The worst is behind us."

Jesse Kornbluth, Highly Confident: The Crime and Punishment of Michael Milken (William Morrow & Co., New York, 1992), p. 286.

1910: William Bradford Shockley, co-inventor of the transistor, is born in London, England, to William Shockley, an MIT-trained mining engineer, and May Shockley, a mathematics graduate of Stanford. Along with John Bardeen and Walter Brattain, Shockley invents the transistor at Bell Labs in 1947, making small, economical computers possible for the first time.