OCTOBER 12, 1971

Full News Archive

• Headline: Penn Central Extends Bidding Deadline. Impact: The decision to extend the deadline for bids on the Pan Am Building led to a series of financial complications that ultimately resulted in the creation of the phrase 'too big to fail,' which, ironically, would be used decades later to describe banks and corporations that are, well, too big to fail.. Fact: Fun fact: Pan Am was like the Instagram of airlines—everyone wanted to be associated with it until it went bankrupt in 1991. Talk about a fall from grace!.
• Headline: Nixon's Court for Wage and Price Controls. Impact: Nixon's push for a Temporary Emergency Court of Appeals to handle wage and price controls somehow resulted in the modern practice of politicians blaming courts for their economic messes, a trend that is still thriving today.. Fact: Did you know that Nixon once said, 'I am not a crook'? Funny how he didn't mention anything about being a terrible communicator either..
• Headline: U.S. Warns U.N. on Taiwan Situation. Impact: The U.S. warning about Taiwan's potential ouster from the UN led to decades of diplomatic dance-offs, where countries have to decide if they want to play nice with China or risk being left out of the party.. Fact: Did you know that the U.N. has had more debates about Taiwan than a high school student council over prom themes? Spoiler: No one ever agrees..
• Headline: F. A. A. to Let Jet industry Help Rewrite Noise Rules. Impact: Letting the jet industry rewrite noise rules is like letting a toddler decide how much candy they can eat. Spoiler alert: it's not going to end well, and now we have noise complaints to thank for some really interesting neighborhood disputes.. Fact: Did you know that airport noise is so annoying, it could probably make a toddler cry? But don't worry, the FAA has it under control…ish..
• Headline: REVOLT DAMAGES MENTAL HOSPITAL. Impact: The revolt at the Connecticut Valley Hospital highlighted systemic issues in mental health care that would lead to reforms decades later, reminding us that sometimes a little chaos is needed to shake the establishment awake.. Fact: Mental health revolts have been a thing for centuries, but it's the 1970s version that really brought the drama. Who knew mental health facilities could be such hotbeds of rebellion?.