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HEADLINES ON April 6, 1973
Full News Archive
- Headline: Frizzell's Role in Wounded Knee Negotiations. Impact: This negotiation eventually led to a series of treaties that many historians argue were simply misunderstood by future generations, leading to a few more centuries of 'miscommunication' between cultures. Thanks, Frizzell!. Fact: Frizzell later became known as the 'Whisperer of Wounded Knee,' a title he never asked for but definitely rolled his eyes at..
- Headline: Financial Scandal Uncovered by a Phone Call. Impact: Dirks’ discovery led to a chain reaction of financial regulations, which ultimately resulted in the creation of the phrase 'too big to fail,' coincidentally just before the next financial meltdown.. Fact: Dirks went on to become a motivational speaker, specializing in uncovering financial scandals and how to avoid them—because hindsight is 20/20!.
- Headline: U.S. Trust Company Net Up. Impact: The rise in earnings led to a brief period where people thought the economy was actually recovering, only to be met with harsh reality soon after. Surprise!. Fact: In a bid to celebrate their earnings, U.S. Trust Company threw a party that was promptly crashed by an unexpected economic downturn..
- Headline: NIXON WITHDRAWS GRAY NOMINATION AS F.B.I. DIRECTOR. Impact: Gray's withdrawal from the FBI director nomination led to a series of less-than-stellar appointments, including one that made the agency famous for its questionable fashion choices during investigations.. Fact: L.P. Gray 3rd later opened a successful bakery called 'Gray's Donuts,' where he claimed his lack of FBI skills truly shone—at least in pastry..
- Headline: The Other Side of the Oil Thing. Impact: Fears of oil price manipulation led to long-standing geopolitical tensions, resulting in countless conspiracy theories about oil cartels controlling everything from politics to pizza toppings.. Fact: Amouzgar later said that if he had a dollar for every time someone misunderstood oil economics, he'd be able to buy his own oil well..
- Headline: Israeli Reports a Dead Sea Scroll Contains Puritanical Injunctions. Impact: The discovery of the new scroll ignited a minor academic war, sparking debates that led to a resurgence of interest in ancient texts, which eventually inspired a popular TV drama. You know, because that's how serious academia rolls.. Fact: Yadin’s findings were so shocking that they almost led to a reality show called 'Scroll Hunters,' but the budget fell through..
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1973, it would be worth $185,625 today (185.6x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1973, it would be worth $200,926 today (200.9x return)
MO
Philip Morris
Philip Morris - If you invested $1,000 in 1973, it would be worth $2,433,689 today (2433.7x return)