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Civil War
Civil War
The ruins of New Manchester Mill at Sweetwater Creek State Park in Douglas County are pictured in 2002. One of the largest factories in Georgia during the Civil War, the mill was burned in 1864 by Union general William T. Sherman's troops during their march to the sea. New Manchester Mill Ruins
manufacturing might of the North during the Civil War (1861-65) often overshadowed that of the South, but the success -
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Business Timeline
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First Commerical Telephone Exchange
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George Eastman Perfects the Kodak Camera
George EastmanBirth of a Company In April 1880, Eastman leased the third floor of a building on State Street in Rochester, and began to manufacture dry plates for sale. One of his first purchases was a second-hand engine priced at $125. "I really needed only a one horse-power," he later recalled. "This was a two horse-power, but I thought perhaps business would grow up to it. It was worth a chance, so I took it." As his young company grew, it faced total collapse at least once when dry plates in the hands -
First Motion Picture shown on public screen
First motion pictureIn 1891, the Edison company successfully demonstrated the Kinetoscope, which enabled one person at a time to view moving pictures. Later in 1896, Edison showed his improved Vitascope projector and it was the first commercially, successful, projector in the U.S.. -
U.S, takes over Construction of Panama Canal
Panama CanalAlthough the French had attempted construction of a canal in the 1880s, the Panama Canal was successfully built from 1904 to 1914. Once the canal was complete the U.S. held a swath of land running the approximately 50 miles across the isthmus of Panama. -
F.W. Woolsworth
First Woolworth store to open -
Wall Street Crash and Great Depression
Wall Street Crash
Wall Street crash would propel the market downward, and the trend would continue until the market bottomed out in 1932. As the stock market and the economy fed on the problems of the other, the fall of 1930 saw the unavoidable signs of depression take hold of the US, almost a full year after the initial crash. The 1929 and 1930 Wall Street crash served to weaken investor confidence, as wel -
Wall Street Bombing
Wall Street Boming Financial District of New York City. The blast killed 30 people immediately, and another eight died later of wounds sustained in the blast. There were 143 seriously injured, and the total number of injured was in the hundreds.[1]:160-161[2] The bombing was never solved, although investigators and historians believe the Wall Street bombing was carried out by Galleanists (Italian anarchists), a group responsible for a series of bombings the previous year. The attack was related to postwar social -
Great Stock Crash
Stock crashThe Wall Street Crash of 1929, also known as Black Tuesday[1] or the Stock Market Crash of 1929, began in late October 1929 and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its fallout.[2] The crash signalled the beginning of the 10-year Great Depression that affected all Western industrialized countries.[3] -
Disneyland Opens
Disneyland OpensOPENING—Disneyland, Walt Disney’s Magic Kingdom, will officially open on Monday, July 18th, and remain open every day during the summer from 10 a.m. to 10 p.m. Beginning in the Fall, Disneyland will be closed on Mondays. ADMISSION TICKETS—Admission prices for adults are $1.00, tax included. For children, under 12, admission is 50c, tax free. Tickets may be purchased only at Disneyland. Your admission ticket entitles you to roam all the land of Disneyland and view many free shows without any fu -
Ethical Climate
Social unrest. Anti-war sentiment. Employees have an adversarial relationship with management. Values shift away from loyalty to an employer to loyalty to ideals. Old values are cast aside. Major Ethical Dilemmas
•Environmental issues
•Increased employee -employer tension
•Civil rights issues dominate
•Honesty
•The work ethic changes
•Drug use escalates Business Ethics Developments
•Companies begin establishing codes of conduct and values statements
•Birth of social responsibility movement
•Co -
Equal pay for equal work
Equal pay for equal workIn 1963, Congress passed the Equal Pay Act[3] ("EPA" or the "Act")[4] as an amendment to the Fair Labor Standards Act,[5] to "prohibit discrimination on account of sex in the payment of wages by employers." Congress included within the text of the EPA a clear and concise policy statement and briefly described the problems it was intended to remedy. The clear statement of Congressional intent and policy guiding the EPA’s enactment indicate the Congressional desire to fashion a broad remedial fram -
Ethical Culture
Defense contractors and other major industries riddled by scandal. The economy suffers through recession. Unemployment escalates. There are heightened environmental concerns. The public pushes to make businesses accountable for ethical shortcomings. Major Ethical Dilemmas
•Employee militancy (employee versus management mentality)
•Human rights issues surface (forced labor, sub-standard wages, unsafe practices)
•Some firms choose to cover rather than correct dilemmas Business Ethics Development -
Wall Street fixed commission established
Wall StreetIn 1975, the Securities & Exchange Commission threw out the NYSE's "Rule 394" which had required that "most stock transactions take place on the Big Board's floor", in effect freeing up trading for electronic methods.[37 -
Ethical Culture
The social contract between employers and employees is redefined. Defense contractors are required to conform to stringent rules. Corporations downsize and employees' attitudes about loyalty to the employer are eroded. Health care ethics emphasized. Major Ethical Dilemmas
•Bribes and illegal contracting practices
•Influence peddling
•Deceptive advertising
•Financial fraud (savings and loan scandal)
•Transparency issues arise Business Ethics Developments
•ERC develops the U.S. Code of Ethics fo -
Black Monday Crash
Black Monday refers Black monday crash Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).[1] In Australia and New Zealand the 1987 crash is also referred to as Black Tuesday because of the timezone difference. -
Ethical Climate
Global expansion brings new ethical challenges. There are major concerns about child labor, facilitation payments (bribes), and environmental issues. The emergence of the Internet challenges cultural borders. What was forbidden becomes common. Major Ethical Dilemmas
•Unsafe work practices in third world countries
•Increased corporate liability for personal damage (cigarette companies, Dow Chemical, etc.)
•Financial mismanagement and fraud. Business Ethics Developments
•Federal Sentencing Guide -
North America free Trade Agreement took effect
North American Free TradeOn January 1, 1994, the North American Free Trade Agreement between the United States, Canada, and Mexico (NAFTA) entered into force. All remaining duties and quantitative restrictions were eliminated, as scheduled, on January 1, 2008. NAFTA created the world's largest free trade area, which now links 450 million people producing $17 trillion worth of goods and services. Trade between the United States and its NAFTA partners has soared since the agreement entered into force. U.S. goods and s -
Ethical Culture
Unprecedented economic growth is followed by financial failures. Ethics issues destroy some high profile firms. Personal data is collected and sold openly. Hackers and data thieves plague businesses and government agencies. Acts of terror and aggression occur internationally. Major Ethical Dilemmas
•Cyber crime
•Privacy issues (data mining)
•Financial mismanagement.
•International corruption.
•Loss of privacy - employees versus employers
•Intellectual property theft
•The role of business in pro
