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EconCalendar for January

January 1, 1984
AT&T MONOPOLY BROKEN UP
AT&T, the monopoly of the telecommunications industry, became stripped of its Bell System companies, altering its workforce and assets

January 2, 1882
STANDARD OIL TRUST
John D. Rockefeller merged his company with oil affiliates to become the Standard Oil Trust, the nation's first authorized monopoly

January 3, 1949
LABOR MOVEMENT SETBACK
Supreme Court ruled to essentially weaken the labor movement's power and legitimacy by restricting a bargaining tactic

January 4, 1877
RAILROAD BARON DIES
Cornelius Vanderbilt, a leader in the shipping industry, dies with an estimated worth of $100 million, making him at the time the richest man in the United States.

January 5, 1914
FORD BOOSTS WAGES
Ford Company attempted to humanize the assembly line with a minimum wage boost and the reduction of the workday to eight hours

January 6, 1983
REAGAN'S GAS TAX
Under republican President Reagan, a federal tax on gas was increased to create funding for roads and bridges, and in turn created many jobs

January 7, 1782
FIRST BANK DEBUTS
The nation's first private, commercial bank, called the Bank of North America, opened in Philadelphia

January 8, 1985
REAGAN TWEAKS OFFICES
In a controversial move, President Reagan announced the secretary of the Treasury and the chief of staff will swap jobs

January 9, 1990
AIRLINES RECORD HUGE LOSSES
Air Transport Association reports that the U.S. airline industry recorded a combined loss of $2 billion, the worst industry performance since 1978.

January 10, 1980
LABOR LEADER LOST
AFL-CIO chief George Meany, a longtime union man who oversaw the merger of the AFL and CIO, and in 1957 expelled Jimmy Hoffa and the Teamsters from the organization, died this day in 1980.

January 11, 1757
FIRST TREASURY SECRETARY BORN
Alexander Hamilton, patriot, author, and first Secretary of the Treasury was born this day in 1757.

January 12, 1897
U.S. LOOKS TO A GOLDEN FUTURE
National Monetary Conference in Indianapolis, Indiana creates a congressional committee to devise a financial system based on the gold standard.

January 13, 1994
GTE CUTS JOBS
The telecommunications company in an effort to cut costs cuts 17,000 jobs, and takes a $1.8 billion pre tax charge.

January 14, 1875
PAPER VS. COIN
House passes the Specie Resumption Act, which puts in motion a program for the Treasury Department begin to exchange legal tender for gold on January 1, 1879.

January 15, 1782
U.S. GETS A FINANCIAL PLAN
Superintendent of Finance Robert goes before congress an gives his plan for establishing a national mint and a decimal coin system.

January 16, 1997
WEAPONS COMPANIES MERGE
Raytheon Corporation strikes a deal to buy Hughes Electronics for $9.5 billion.

January 17, 1991
WAR PUMPS LIFE INTO THE MARKET
The beginning of the first Gulf War results in a 114.60 point jump in the DOW, one of the best one-day gains in market history to this point.

January 18, 1978
WORKINGMAN'S SONG GOES TO NUMBER ONE
Take This Job and Shove It, a song by Johnny Paycheck goes to number one on the Billboard charts this day in 1978.

January 19, 1944
STRIKE AVERTED, DISPUTE SETTLED
Government gives up month long control of U.S. railways after workers agree not to strike and come to terms on a new wage contract.

January 20, 1870
WOODHULL: FIRST LADY OF BROKERAGE
Woodhull, Claflin, & Co. run by Victoria Woodhull and Tennessee Claflin becomes the first brokerage firm run exclusively by women.

January 21, 1895
ANTI-TRUST ACT BECOMES OBSOLETE
Sherman Anti-trust Act is rendered useless after Supreme Court's ruling in favor of E.C. Knight in the case of United States v. E.C. Knight.

January 22, 1932
RFC COMES TO LIFE
The Reconstruction Finance Corporation (RFC), brainchild of Pres. Hoover is created as an independent agency to fight the effects of the Depression on the U.S. economy.

January 23, 1964
GOODBYE POLL TAX
With the passage of the 24th Amendment in South Dakota the poll tax now becomes illegal nation wide.

January 24, 1916
INCOME TAX HERE TO STAY
After several rulings against Federal Income Taxes the Supreme Court finally gives its blessing declaring the 16th Amendment constitutional.

January 25, 1947
AL CAPONE TO REST
Mob kingpin and killer Al Capone died today after leading a life of crime, including the tax evasion which ultimately landed him in Alcatraz prison

January 26, 1995
GOLDEN EGG HATCHES A PEPPER
Cadbury Schweppes P.L.C. buys Dr. Pepper/7-up Company for $1.7 billion, making them third in the U.S. soda market.

January 27, 1985
COKE CRACKS THE CURTAIN
Coca-Cola reveals plans to begin selling its soft-drinks in the U.S.S.R.

January 28, 1902
CARNEGIE GIVES BACK
A $10 million donation from Andrew Carnegie goes to set up the Carnegie Institution in Washington, D.C. The institution teaches biology, astronomy, and earth sciences.

January 29, 1834
TROOPS SETTLE DISPUTE
Federal troops are sent to the banks of the Potomac River to put down a riot by canal workers. This is the first labor dispute in U.S. history.

January 30, 1934
STEADYING THE DOLLAR
The Gold Reserve Act is passed giving the President the power to set the value of the dollar relative to the price of gold.

January 31, 1940
SOCIAL SECURITY BEGINS
On this date in 1940 a Vermont woman receives the first ever Social Security check in the amount of $22.54.