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Cisco Systems goes public
Cisco goes public on February 16, 1990, listed as “CSCO” on the NASDAQ. Cisco would later come to dominate the network hardware industry, accounting for over 60% of routing hardware and 75% of switching hardware worldwide by 2011. Sources:
https://newsroom.cisco.com/dlls/corporate_timeline_2008.pdf
https://www.forbes.com/sites/greatspeculations/2017/07/03/why-cisco-is-worth-nearly-15-times-as-much-as-juniper/#4f4646b22a3f -
The Americans with Disabilities Act enters into force
The ADA is one of America's most comprehensive pieces of civil rights legislation that prohibits discrimination and guarantees that people with disabilities have the same opportunities as everyone else to participate in the mainstream of American life -- to enjoy employment opportunities, to purchase goods and services, and to participate in State and local government programs and services. Source: https://www.ada.gov/ada_intro.htm -
Mosaic becomes available
Mosaic, the first graphics-based Web browser becomes available. Traffic on the Internet expands at a 341,634 percent growth rate. Source: https://newsroom.cisco.com/dlls/corporate_timeline_2008.pdf -
The Family and Medical Leave Act is signed into law
The act's most notable provision was the parental leave for the birth of a child. It guaranteed that a job will be there upon return, for new foster parents, caretakers of injured or ill relatives, workers with personal health problems, and others. Source:
https://www.dol.gov/general/history/100/timeline -
NAFTA enters into force
The NAFTA followed, entering into force on January 1, 1994. Tariffs were eliminated progressively and all duties and quantitative restrictions, with the exception of those on a limited number of agricultural products traded with Canada, were eliminated by 2008. Source:
https://ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta -
QuickCam introduces the first affordable webcam designed to video calling using TCP/IP
The first model could only capture a 320-by-240 image at 16 shades of grey - and then only on a Mac-but its $99 price blew the market wide open. Inventive users combined the QuickCam, the emerging Internet, and videoconferencing software like CU-SeeMe (seen here) to take part in the first Internet video chats in the mid-1990s. Source:
https://www.pcworld.idg.com.au/slideshow/350404/history-video-calls-from-fantasy-flops-facetime/ -
Window95 is released
Windows95 would later introduce an integrated web browser, Internet Explorer. Windows would soon dominate the software market. Windows Operating System would evolve to gain more than 90% of the Operating System software market share by the mid-2000s. Sources:
https://www.statista.com/topics/823/microsoft/
https://www.theguardian.com/technology/2014/oct/02/from-windows-1-to-windows-10-29-years-of-windows-evolution -
Define Benefit participation among workers declines significantly
Between 1993 and 1995 defined benefit participation among workers declined from 21% to 13%. During the same period of time, defined contribution participation among workers increased from 19% to 26%. Source:
http://crr.bc.edu/wp-content/uploads/2015/10/Pension-coverage.pdf -
The "No Sweat" initiative enters into force
The "No Sweat" initiative was a combined effort among law enforcement, the department of labor, and retailers to end sweatshop labor practices in the garment industry. This initiative had implications that transcended the textile industry as the effort was underpinned by the need to enforce minimum wage and worker safety standards among factory owners. Source:
https://www.dol.gov/general/history/100/timeline
https://www.innovations.harvard.edu/no-sweat-eradicating-sweatshops -
Los Angeles County home-care workers join Service Employees International Union
In a historic move, over 70,000 Los Angeles service workers vote to join SEIU by a 10 to 1 margin. This event is demonstrates a significant shift in collective bargaining to improve wages and benefits among workers. This trend continues to impact wages and benefits in the workplace, as workers continue to mobilize in search of improved wages and benefits. Source:
http://articles.latimes.com/1999/feb/26/news/mn-12006 -
Manufacturing jobs begin to experience rapid decline
Automation, robotics, and low-cost overseas labor create a turning point in the US workforce, as manufacturing jobs are replaced with service sector jobs. This event marks a shift in the US from a manufacturing to a consumer society. Source:
https://money.cnn.com/2016/03/29/news/economy/us-manufacturing-jobs/index.html -
Enron declares bankruptcy
Enron used manipulative accounting practices to hide losses and artificially inflate corporate profits. Once Enron share prices began to fall, the structure of Special Purpose Entities and subsidiary hedges used to mask accounting realities began to unravel resulting in the eventual collapse of the energy giant. Source:
https://www.investopedia.com/updates/enron-scandal-summary/ -
Facebook is created
In February 2004 Mr Zuckerberg launched "The facebook", as it was originally known...Within 24 hours, 1,200 Harvard students had signed up, and after one month, over half of the undergraduate population had a profile. The network was promptly extended to other Boston universities, the Ivy League and eventually all US universities. It became Facebook.com in August 2005... Source:
https://www.theguardian.com/technology/2007/jul/25/media.newmedia -
US saving rate hits all-time low -- 2.2%
All-time low savings rate has implications for demand for higher wages, improved total compensation packages, and retirement security. Source:
https://fred.stlouisfed.org/series/PSAVERT -
The first iPhone is released
The first iPhone is released leveraging advanced cellular technologies to bring graphic user interface digital data access to a mobile device. -
The Dow Jones Industrial Average closes at 6594.44
This marked at drop from a market high of 14164.43 on Oct 9, 2007. This impacted a number of retirement portfolios, pushing back retirement dates of many as the retirement nest eggs and life savings of millions were cut in half in just under 18 months. Source:
https://www.thebalance.com/stock-market-crash-of-2008-3305535 -
Affordable Care Act is signed into law
ACA is signed into law, marking a significant milestone in the shift for health benefits from pure employer responsibility toward a larger government focus. Source:
https://www.thebalance.com/what-is-the-obamacare-timeline-3305756 -
Social Security covered workers to beneficiary ratio drops below 3.0
The workers to beneficiary ratio has consistently remained above 3.0, indicating that the number of Social Security beneficiaries is increasing faster than the pool of covered workers contributing to system. Source:
https://www.ssa.gov/history/ratios.html -
Baby Boomers start to turn 65
On January 1, 2011, the oldest Baby Boomers will turn 65. Every day for the next 19 years, about 10,000 more will cross that threshold. Source:
http://www.pewsocialtrends.org/2010/12/20/baby-boomers-approach-65-glumly/ -
Wal-mart eliminates health coverage for 30,000 part-time workers
Citing rising healthcare costs and the potential tax implications of the ACA, Wal-Mart raises healthcare costs for it 1.3 million workers and eliminates health coverage for over 30,000 part-time employees. This move set the tone for other employers across industries when faced with rising healthcare costs. Source:
https://www.reuters.com/article/us-walmart-healthcare/wal-mart-raises-healthcare-costs-cuts-benefits-for-some-part-timers-idUSKCN0HW1G220141007 -
Tax Cuts and Jobs Act is signed into law
A $1.5 trillion rewrite of the tax code is signed into law. Shortly after the announcement, many US employers announced they will increase wages through bonuses or hourly rate increases to thousands of US workers (e.g. Bank of America, Waste Management, Wal-Mart). Sources:
https://abcnews.go.com/Politics/president-trump-signs-tax-bill-law-leaving-holidays/story?id=51954035
https://www.cnbc.com/2018/01/11/walmart-to-boost-starting-wage-give-employees-bonus-after-tax-bill.html
