Breakthroughs and everyday innovations from the year.
HEADLINES ON August 1, 1957
Full News Archive
- Headline: Mrs. Lamont's Estate Tax Appraisal Approved. Impact: The appraisal of Mrs. Lamont's estate led to a series of bizarre tax evasion schemes that inspired a Hollywood movie in 1987, resulting in a nationwide trend of rich people pretending to be poor. Who knew a dead woman's wealth could cause so much chaos?. Fact: This estate appraisal is actually just a fancy way of saying, 'A lot of money is about to disappear into tax loopholes.'.
- Headline: Typhoid Outbreak Investigated in Queens. Impact: The typhoid outbreak in Queens forced the city to rethink its sanitation practices, ultimately leading to the invention of the modern-day salad spinner. Who knew a little bacteria could revolutionize kitchen gadgets?. Fact: Typhoid: the original 'salad dressing' that no one wanted. Talk about a recipe for disaster!.
- Headline: Meany Dismisses Dorfman for Ethical Violations. Impact: The ousting of Hoffa's associate led to a series of power struggles within labor unions that would eventually inspire a cult classic about corruption and backstabbing—because nothing says 'worker rights' like a good mafia movie.. Fact: This incident proves that even waste material handlers have their own soap operas. Tune in next week for more drama!.
- Headline: U.S. FISCAL POLICY FIRM; Not Expecting to Tighten or Ease Money, Burgess Says. Impact: Burgess's firm fiscal policy paved the way for future financial crises as politicians clung to the belief that doing nothing is somehow a plan. Spoiler alert: it wasn't.. Fact: In economics, 'firm policy' is just code for 'we're ignoring the problem until it explodes.'.
- Headline: ILLNESS OF 55 LAID TO AUTOMAT FOOD; City Unit Attributes Cases to Salad Contaminated by Two Kitchen Workers. Impact: The food poisoning incident at Horn & Hardart led to stricter health regulations, but it also sparked a new wave of 'don't eat at automats' fear, making diners more inclined to stick to greasy diners. You're welcome, small businesses!. Fact: Who knew a chicken salad could be deadlier than a mobster’s hit? Bon appétit!.
- Headline: HOUSE VOTE BACKS NIAGARA PROJECT; Compromise Bill for State Power Passes Key Test --Roll-Call Set Today Senate Bill Pending HOUSE VOTE BACKS NIAGARA PROJECT 'Sweet' Two-Hour Debate. Impact: The passage of the Niagara project bill not only boosted local power supplies but also led to an increase in tourist visits, making the area a hot spot for selfies with waterfalls. The butterfly flaps, and tourists flock!. Fact: This bill is why your Instagram feed is filled with people pretending to appreciate nature while they secretly just want a great background for their next selfie..
- Headline: President Glad to Sell Holdings for a Million. Impact: Eisenhower's jest about selling holdings made headlines and led to future presidents attempting to capitalize on humor, resulting in a long line of dad jokes from the Oval Office. Thanks for lowering the bar, Ike!. Fact: Eisenhower's humor suggests that even presidents can have a price—especially when it comes to punchlines!.
- Headline: OIL QUOTAS DEFENDED; President Says They Would Aid Small Producers. Impact: The defense of oil quotas became the foundation for a series of failed energy policies that would haunt the U.S. for decades, proving that sometimes trying to help small producers just leads to big messes.. Fact: Oil quotas: because nothing says 'I'm here to help' like a convoluted plan that confuses everyone involved..
Wall Street Time Machine
JNJ
Johnson & Johnson
Johnson & Johnson - If you invested $1,000 in 1957, it would be worth $3,433,941 today (3433.9x return)
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1957, it would be worth $586,657 today (586.7x return)
MO
Philip Morris
Philip Morris - If you invested $1,000 in 1957, it would be worth $23,651,363 today (23651.4x return)