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Standard Oil was founded
John Rockafeller founded Standard oil company in 1870, and by 1873 Standard oil owned 80% of the oil refining market. Standard oil used different techniques to undercut competitors, even if they had to take a minimal loss to drive them into bankrupcy. -
Chinese Exclusion Act
Chinese flocked to the western United States and provided cheap labor until this act was passed. It was a the first restriction on free immigration in U.S. history, prohibiting all immigration of Chinese laborers. It was only suppossed to last 10 years, but instead lasted until 1943. -
Congress passed Sherman Anti-Trust act
Although it was not very powerful, it was the first of its kind to prohibit trusts. It was signed by president Benjamin Harrison. -
Wright Brothers take Flight
Two brothers from Ohio were the first to take flight. Although it only last a few minutes, today millions of people fly all over the world for different business needs. -
Henry For unveils the Assembly line
The beginning of Mass production which allowed Ford to produce vehicles faster than ever before while lowering costs. -
Panama Canal Opens
Known as one of the seven wonders of the modern world, the panama canal allowes ships to cross from the pacific to the atlantic without going all the way around the southern tip of south america. -
Prohibition
The 18th ammendmant goes in to affect. Prohibiton was orignally created to save grain for WWI. It eventually led to Organized crime, and thousands of 'speak easy's' through out the United Sates. -
The Stock Market Crash of 1929
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FDR signs the act creating the Federal Housing Administration
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Japan Bombs Pearl Harbor
Although the war started in 1939 the United states was staying out of the war until Japan Bombed Pearl Harbor. -
The Interstate is created
The creation of the Interstate System helped move goods across the United States faster and safer. Allowing parishable items to be shipped from coast to coast. -
First Credit Card
Bank of America creates the first credit card. The idea was originated in 1950, but the idea didnt catch on to the average concumer until 1958. Now people could buy things like appliances that they could not afford, and make payments on it. -
The First Wal-mart opens
40 years later Wal-mart put most small businesses in bankruptcy by doing so much volume it allows them to lower their prices to which no small businesses can match. It is to convient for average shoppers to go to one place for all of their consumer needs. -
John F. Kennedy signs the Equal Pay Act
The first law of its kind stating you must pay men and women the same price for the same job. This is still a conserversial topic today. -
Medicare Law
President Johnson signs medicare act into law which helped many Americans over 65 who could not afford health insurance rates because of their poor health. -
Fed Ex begins Operations
Businesses could now ship product even faster through the air. -
Ronald Reagan Fires 11,000+ Air Traffic Controllers
Early into President Reagan's first term Patco (the union) went on an illegal strike. The President gave them 48 hours to return to their duties which some did, but the rest were fired. -
Black Monday (1987)
Stock Market Crash that started in China took and took nearly 2 years to recover. -
Netscape Goes Public
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Apple Launches IPOD
Once Apple's IPOD took off it put the company back in the spotlight. A few years later Apple reveiled an IPHONE which many business use to communicate through text, email, and phone. -
9-11-01 Terrorist Attack
