by Gary Hoover | Sep 5, 2021 | Articles, Articles, Data, Data, Other Industries, Transportation
In the twentieth century, no industry created more giant American companies than the petroleum industry. In 1917, big oil represented six of the fifty largest American companies. By 1955, eleven oil companies made the top fifty industrial firms in Fortune...
by Gary Hoover | Aug 26, 2021 | Articles, Foodservice and Lodging, Newsletters
In the 1950s and 1960s, Howard Johnson’s rose to become the largest American restaurant chain, the first giant in the industry. The company’s familiar orange roofs and steeples covered much of the U.S. highway system. “HoJo’s” was also a leader in the development of...
by Gary Hoover | Aug 21, 2021 | Articles, Articles, Consumer Products, Transportation
There are an estimated one billion bicycles in the world today, almost half of them in China and another one hundred million in the United States. About one hundred million new ones are manufactured each year, over half in China and many others in Taiwan, around...
by Gary Hoover | Aug 12, 2021 | Articles, Retailing
Much has been written about the idea of “reinventing” your company. However, in my 50+ years of studying big business, I have rarely seen it happen — successfully. Here, from the treasure trove that is business history, one of the few cases of a...
by Gary Hoover | Aug 7, 2021 | Articles, Consumer Products, Newsletters, Other Industries
Early in the twentieth century, the Kimberly-Clark paper company pioneered “sanitary napkins” with their Kotex brand. Magazine publishers resisted running ads for the innovative but very private product and retailers hesitated to display Kotex. The company...
by Gary Hoover | Aug 1, 2021 | Articles, Newsletters, Other Industries
For over 125 years, South Dakota’s Homestake Mine churned out ore loaded with gold and silver. Thousands of men worked the strike down to over a mile and a half below the earth’s surface, the deepest mine in the Western hemisphere as well as the American mine...
by Gary Hoover | Jul 21, 2021 | Articles, Articles, Articles, Foodservice and Lodging, Media & Entertainment, Newsletters, Transportation
Today we republish an excerpt from the book I wrote twenty-one years ago, including some short but sweet diverse business history stories. The original has been slightly edited and we have added a few more pictures. (The complete book, expanded but only available as...
by Gary Hoover | Jul 16, 2021 | Articles, Newsletters, Retailing
The retailing industry is a continuous story of the rise and fall of companies. No enterprise stays on top forever in this highly competitive field that touches our lives every day. Today we look at a company, now long forgotten, named Gimbel...
by Gary Hoover | Jul 9, 2021 | Articles, Articles, Retailing, Technology
In our article on the three greatest companies in American history, we listed both General Motors and IBM. Neither of those companies would have been the great successes they were without the contributions of proteges of John Henry Patterson, though he did not...
by Gary Hoover | Jul 4, 2021 | Articles, Articles, Articles, Other Industries, Technology, Transportation
On this 4th of July, it is appropriate to honor the long history of one of America’s great companies. Elisha Otis perfected the first commercially successful elevators, both for freight and passengers, before the Civil War. The organization he founded, the...
by Gary Hoover | Jun 25, 2021 | Articles, Articles, Foodservice and Lodging, Newsletters, Transportation
In the nineteenth century, restaurants were patronized by the wealthy and by travelers (at stagecoach stops, inns, and on trains and in train stations). Most workers brought their lunch from home. Over time, especially in cities, diners had more options....
by Gary Hoover | Jun 17, 2021 | Data, Data, Newsletters, Transportation
The United States airline system, one of the technological and business wonders of the twentieth century, evolved in the 1920s and 1930s. With early subsidies from the Post Office for carrying mail, airplanes began connecting US cities. With successive air...
by Gary Hoover | Jun 13, 2021 | Articles, Articles, Books, Business in General, Newsletters
July 9 is the deadline for our high school essay contest, with $7500 in prizes, including $3000 for the best essay. PLEASE SPREAD THE WORD! …. and, by the way, this is the 100th issue of our free weekly newsletter! Today we recommend two books for our fellow...
by Gary Hoover | Jun 5, 2021 | Articles, Media & Entertainment, Newsletters
In order to bolster their Amazon Prime Video streaming service, Amazon is buying the legendary M-G-M, probably the most famous of the great movie studios, for $8.45 billion. This will be the second biggest acquisition in Amazon’s history, exceeded only by its...
by Gary Hoover | May 26, 2021 | Articles, Media & Entertainment, Newsletters
This article first appeared in the Archbridge Institute’s American Originals Series. Ahmet Ertegun did as much as anyone to shape the popular music that serves as the soundtrack for our daily lives. As the founder and leader of Atlantic Records for almost sixty years,...
by Gary Hoover | May 20, 2021 | Articles, Business in General, Newsletters
On May 8, 2019, two years ago, four of us launched the American Business History Center. As enumerated below, we are pleased with the growth of our weekly newsletter and our website traffic (shown above). Your donations have helped us continue our work and will help...
by Gary Hoover | May 12, 2021 | Articles, Business in General, Data, Newsletters
Last week, the Census Bureau published their annual estimates of population, as of July 1, 2020. Population trends underly all economic activity, so we study that data as soon as it is released. The fastest growing and shrinking cities and metropolitan areas...
by Gary Hoover | May 6, 2021 | Articles, Business in General, Data, Newsletters
Few business subjects fascinate people as much as the very wealthy. Our obsession with celebrity goes back centuries but seems to have accelerated in recent decades. Forbes produced its first list of the richest Americans in 1982 and later started publishing it...
by Gary Hoover | Apr 29, 2021 | Articles, Articles, Articles, Business in General, Consumer Products, Newsletters, Retailing
While most big companies disappear over time (as shown in our recent newsletter), some figure out how to survive and prosper decade after decade, even century after century. But is the journey from founding to long-term durability a straight path? Today...
by Gary Hoover | Apr 23, 2021 | Articles, Articles, Books, Business in General, Newsletters
Big Rich Forbes magazine just released their annual list of the richest people in the world, topped by Jeff Bezos at $177 billion and Elon Musk at $151 billion. Computer scientist and founder of the incubator Y Combinator Paul Graham has written an excellent...
by Gary Hoover | Apr 15, 2021 | Articles, Business in General, Data, Newsletters
One of the most significant shifts in American business over the last several decades has been the shrinking number of big corporations headquartered in New York City. At first, some moved “upstate” to the New York suburbs and to Connecticut. But more...
by Gary Hoover | Apr 8, 2021 | Articles, Newsletters, Transportation
On March 21, 2021, the Canadian Pacific Railroad announced that it was buying the Kansas City Southern Railroad for $25 billion. To understand the strategic and geographic implications of this very important business deal, we must first go back in time. ...
by Gary Hoover | Apr 1, 2021 | Articles, Business in General, Data, Newsletters
A careful study of this week’s list will show you the huge American industries which once dominated stock markets, employment, and community life, but which are not as important in the age of Amazon and Google. Our readers know we love lists. There are few other...
by Gary Hoover | Mar 24, 2021 | Articles, Data, Data, Newsletters, Retailing
The $6.3 trillion US retailing industry has evolved continuously since the end of the Civil War, when the first chain grocery stores and first department stores began to develop. This chart, based on data from the US Census, shows how the different types of...
by Gary Hoover | Mar 19, 2021 | Articles, Articles, Consumer Products, Other Industries
In setting the stage for this story, I interject myself, because “I was there.” Setting the Stage The year is 1975. I am two years out of college, a junior securities analyst for institutional investor Citibank in New York. My veteran analyst boss Pete...
by Gary Hoover | Mar 12, 2021 | Newsletters
Friends of Business History, I have been doing a lot of podcasts and interviews recently. I always make plenty of historical references. But when they are primarily about the present and future, I put them up on my other website, https://hooversworld.com/ and...
by Gary Hoover | Mar 4, 2021 | Newsletters
The American Business History Center is proud to introduce our first annual Business History Essay Contest for High School Students. This is a chance for students to learn about businesses and how they are built, that they are human ventures and have human stories and...
by Gary Hoover | Feb 27, 2021 | Newsletters
Tune in to the History Channel on Sunday, March 7, at 9 PM Eastern time, to see my appearance in their series The Food That Made America in an episode about “the Cola Wars.” I will see it at the same time you do, so I make no predictions about how nice I will look or...
by Gary Hoover | Feb 26, 2021 | Articles, Articles, Articles, Business in General, Newsletters, Other Industries, Technology
We are all familiar with the visionary entrepreneur Charles R. Schwab who pioneered the discount stock brokerage industry in the 1970s. But almost no one remembers the unrelated Charles M. Schwab, one of the most important business leaders in American history....
by Gary Hoover | Feb 11, 2021 | Newsletters
We at the American Business History Center are delighted to announce that we will soon make our first appearance on national television! Last year, the producers of the History Channel series “The Food that Built America” approached us for research on several stories...