30 Bizarre Facts About the Dow 30 company's
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The Dow Jones Industrial Average is comprised of 30 of the biggest company's in the world, and is often referred to as the Dow 30. These blue chip stocks are well-known in the investment world as well as the consumer space, and there are some fun and interesting facts behind these juggernauts that you may not have known. Below, we present 30 bizarre or interesting facts for each of the Dow 30 components.
The company’s founders originally sold what they thought was corundum to manufacturers, but they soon learned that they were selling a worthless mineral called anorthosite
The company was originally founded as an express mail service operating out of Buffalo, NY.
When its government-backed monopoly was dissolved in 1984, the company split into 24 different firms known as “Baby Bells.”
After WW1, used military planes flooded the market and put many airplane manufacturers out of business. To stay alive, Boeing built dressers, counters, furniture, and boats, among other things.
Caterpillar’s early tractors became instrumental in WW1 for pulling and transporting heavy artillery and supplies.
In 1948, Standard Oil of California (later to become Chevron) found the Ghawar oil field in Saudi Arabia, the largest in the world. The Saudi government has kept most of the information concerning the field under wraps in recent years, but it is estimated to contain 71 billion barrels of oil.
Founders Leonard Bosack and Sandy Lerner were forced to resign from Stanford when it was discovered that they had stolen one of the University’s routers for Cisco’s first products.
DuPont was founded as a Gunpowder Mill in 1802 after its founder, Eleuthère Irénée du Pont, fled France to escape the French Revolution.
The company is the result of a merger between Exxon and Mobil, both of which were originally part of John D. Rockefeller’s Standard Oil Company that was broken up by the government in 1911.
GE is responsible for the largest tax return in U.S. history, as the report clocked in at approximately 24,000 pages. That would take up about 237 MBs if submitted electronically.
Henry Goldman resigned in 1917 (during WWI) under pressure from partners due do his pro-German stance. This left the company in the hands of the Sachs family.
Home Depot built its first two stores in spaces that it leased from JC Penney (JCP).
Intel was founded by the potent combination of a chemist, a physicist, and a venture capitalist.
The famous Styx song Mr. Roboto would have featured a protagonist with a completely different brain, had it not been for IBM.
The company was founded by three brothers who were inspired by a speech given by Joseph Lister, a pioneer of sterile surgery.
John Pierpont “JP” Morgan, founder of JP Morgan, avoided serving in the American Civil War by paying a substitute $300 to take his place.
The McDonald’s “Golden Arch” logo was nearly abandoned in 1960, but psychologist Louis Cheskin urged the company to keep it because it had a Freudian effect of subconsciously reminding people of a woman’s nourishing breasts, making them hungry.
The origins of Merck date back to 1668 when Jacob Friedrich Merck bought a drug store in Darmstadt, Germany.
Microsoft founders first founded a failed company called Traf-o-Data that read raw data from traffic counters and created reports for engineers.
Nike’s slogan is based on the final words of Gary Gilmore, who was executed in 1977 after being convicted of two murders. When asked for his last words upon his execution, Gilmore replied, “Let’s do it.”
Much of the penicillin used for Allied troops during the D-day landings during WWII was made by Pfizer. As an added bonus fact, Pfizer’s founder, Charles Pfizer, had quite an impressive beard.
During the American Civil War, P&G won contracts to supply the Union army with soap and candles. Not only was that a big contract at the time, but it also acquainted the troops with P&G products, helping their sales and popularity even after the war subsided.
John Pemberton created the original Coca-Cola recipe in an effort to combat his morphine addiction.
Travelers issued the first-ever policy for space travel for the Apollo 11 flight in 1969.
The company is derived from a parent company that was also the origins of United Airlines and Boeing.
UnitedHealth Group is the largest health carrier in the U.S.
The name “Verizon” was chosen from a list of 8,500 potential company names; $300 million was spent marketing the name once it was chosen.
Visa was launched in 1958 when Bank of America mailed out 60,000 unsolicited credit cards.
Wal-Mart sells coffins of all shapes and sizes. Customers can even get a casket for the family pet if they so choose.
During WWII, the Canadian and U.S governments commissioned Disney workers to produce training and propaganda films; by 1942, approximately 90% of the company was working on war-related films.
In most cases, these facts are just meant for fun rather than any kind of investing advice. If you were surprised by any of these facts, it’s a good reminder to look under the hood of a company before making an investment. Thorough research is one of the greatest tools an investor can use.
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