Gadgets, lab surprises, odd bets, and future-shocks from this slice of the calendar.
The Sounds of
Popular recordings and roots/country selections associated with the year
HEADLINES ON February 16, 1951
Full News Archive
- Headline: R.C.A. Executive Elected by Radio-TV Manufacturers. Impact: The election of an R.C.A. executive set off a chain reaction leading to the invention of the 'TV dinner'. Without this pivotal moment, family dinners might still involve actual communication, and who knows what that could have led to? A generation of people bonding over their feelings? The horror!. Fact: R.C.A. was once the kingpin of electronics, but now they mostly just exist in nostalgic memories of grainy TV shows and commercials featuring overly enthusiastic housewives..
- Headline: Chamber of Commerce Advocates Against Rationing. Impact: The Chamber of Commerce's insistence on delaying rationing sparked a nationwide debate that eventually led to the invention of the 'invisible hand' of the economy. Spoiler alert: it was just a hand waving goodbye to rationality.. Fact: Rationing is a great way to control inflation... said no one ever. It's more like a game of economic Twister where everyone loses their balance..
- Headline: Ethel Barrymore's Potential ANTA Role. Impact: Ethel Barrymore's potential return to stage led to a resurgence in theatre attendance, which eventually morphed into the Broadway phenomenon we know today. So, the next time you hear a cacophony of show tunes, remember it all started with a woman and a play about a twelve-pound lookβwhatever that means.. Fact: Ethel Barrymore was legendary, and if she had a dollar for every time someone misinterpreted her roles, she'd have enough to buy a small island..
- Headline: PLASTICS SCARCE, OFFICIAL CAUTIONS; Denies Reports That They Are Available in Quantity as Substitutes for Metals. Impact: The caution about plastics led to a mad scramble for alternatives, paving the way for the rise of eco-friendly products and the eventual βgreenwashβ of modern marketing. Thanks, scarcity, for giving us a new way to feel guilty about our consumption!. Fact: Back in the day, plastics were the future. Now, they're just the reason we have a floating island of trash in the ocean. Progress!.
- Headline: Dismissal Over Walkout Upheld. Impact: The upholding of the dismissal due to a walkout set a precedent for labor relations that led to today's confusing labyrinth of employment laws. Workers everywhere learned that standing up for their rights might just lead to a one-way ticket to unemployment.. Fact: The wildcat strike was just the beginning; it paved the way for even more creative ways to peacefully protestβlike tweeting about it..
- Headline: MEDINA 'PUZZLED' OVER U.S. ACTIONS; Sees Compulsory Sealed Bids on Securities Harmful to Small Investors. Impact: Judge Medina's confusion over U.S. actions against investment bankers foreshadowed a long legacy of baffling financial regulations that would leave small investors perpetually scratching their heads. It turns out, bureaucracy is the real winner here.. Fact: Compulsory sealed bids? Just a fancy way of saying you canβt know whatβs going on until itβs too late. Welcome to finance!.
- Headline: BEEF PRICE IN CITY PUT UNDER INQUIRY; Armour Is Accused of Ceiling Violation in Rise From 49.39 to 57 Cents a Pound. Impact: The inquiry into beef prices led to a society increasingly paranoid about food pricing, giving birth to conspiracy theories about meat supply chains that persist to this day. Who knew a price hike could turn innocent shoppers into amateur sleuths?. Fact: Armour's beef prices may have been higher, but at least it wasn't as high as the number of reasons people have to avoid eating red meat today!.
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1951, it would be worth $586,657 today (586.7x return)
MO
Philip Morris
Philip Morris - If you invested $1,000 in 1951, it would be worth $23,651,345 today (23651.3x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1951, it would be worth $474,914 today (474.9x return)