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35 More American Company Facts That Reveal Business History (Part 2)

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263M

3M

A 3M adhesive tape plant accidentally created a force field of static electricity that was strong enough to prevent humans from passing through. A person near this “wall” was unable to turn, and so had to walk backward to retreat from it.


27. Some of the Corporations that utilize American prison labor include Wal-Mart, Eddie Bauer, Victoria's Secret, Microsoft, Starbucks, McDonald’s, Nintendo, Chevron Corporation, Bank of America, Koch Industries, Boeing and Costco Wholesale.


28. When Crystal Pepsi was released, Coca-Cola released a competitor called Tab Clear, however, Tab Clear was intentionally marketed poorly in order to hurt Crystal Pepsi’s image by product association. The “born to die” strategy was successful and both campaigns were dead 6 months later.


29. Nike wanted to call their first shoe design ‘Aztec’, but Addidas threatened to sue since they already had a line called ‘Aztec Gold.’ The Nike cofounders then decided to change the name to ‘Cortez’ after the general who “kicked the sh*t out of the Aztecs.”


30. Farmers in USA are hacking their John Deere tractors with Ukrainian firmware, which seems to be the only way to actually own the machines and their software, rather than rent them for lifetime from John Deere.


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31Johnson & Johnson

Johnson & Johnson

Johnson & Johnson knew there was Asbestos in Baby Powder for decades.


32. Sears created well-known financial services brands to sell diversified products in its stores like Discover Card, Allstate Insurance, Caldwell Banker and Dean Witter, only to sell them off later when they became valuable entities.


33. Best Buy used to have a fake internal website that looked exactly like their actual internet website, but with marked-up prices so that they could price gouge in-store customers.


34. In the 1920s newly hired engineers at General Electric would be told, as a joke, to develop a frosted light bulb. The experienced engineers believed this to be impossible. In 1925, newly hired Marvin Pipkin got the assignment not realizing it was a joke and succeeded.


35. Howie Hubler, a Morgan Stanley bond trader, is responsible for the biggest loss on a single trade in history: $9 billion in 2007 during the housing market collapse. He was given the option to resign instead of being fired in October 2007, receiving $10 million in back pay upon his departure.

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