Monday, December 4, 1961: Yves Saint Laurent

From "International Directory of Company Histories":

Yves Mathieu-Saint-Laurent was born in the French Algerian port town of Oran in 1936. At the age of 18, Saint Laurent journeyed to Paris to begin a career as a fashion designer. Success was immediate: in November 1954 Saint Laurent was awarded his first prize, the Prix Robe (dress) in a competition held by the Secretariat. ...

Less than a year after his arrival in Paris, Saint Laurent entered the prestigious house of Christian Dior as Dior's assistant designer and designated heir-apparent. Saint Laurent debuted his first major design, an evening gown, in 1955. Two years later, at Dior's death, Saint Laurent assumed direction of the Christian Dior line. Saint Laurent's first full collection, dubbed Trapeze, debuted on January 30, 1958. The collection was a hit, elevating Saint Laurent to instant celebrity and earning the 21-year-old designer the prestigious Nieman Marcus Award for the Dior house. Three years later Saint Laurent set out to found his own fashion empire. Leaving Dior, Saint Laurent, joined by Pierre Berge, established his own maison de couture on the rue la Boetie in Paris in July 1961. The partners, assisted by several former Dior employees and backed financially by the American J. Mack Robinson, officially opened the House of Saint Laurent on the rue Spontini in December 1961, presenting the first true Yves Saint Laurent collection -- under the famed YSL logo designed by Cassandre -- one month later.

1961 photo of Yves Saint Laurent and dancer Zizi Jeanmaire by Getty Images.

* Biography from Fashion Model Directory: @

* Entry from "The Berg Companion to Fashion" (book by Valerie Steele): @

* Fashion show footage from 1962: @

* 1992 BBC documentary on Saint Laurent: @

* "The Genius of Yves Saint Laurent" (New York magazine, November 1983): @

* 2008 obituary from The Guardian newspaper: @

* Official website: @

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Undated: Reverse mortgage

The first documented reverse mortgage is made by Deering Savings & Loan in Portland, Maine. The recipient is Nellie Young, the widow of the loan officer's high school football coach.

* Reverse mortgage definitions (from thefreedictionary.com): @

* History of reverse mortgages (from reverse.org): @

* Gardner Historical Museum of Reverse Mortgages (located in Gardner, Kansas): @

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Tuesday, November 21, 1961: Revolving restaurant

From The New York Times:

Honolulu's tallest office building has a revolving restaurant perched on its roof. The saucer-shaped restaurant, opened last week, offers diners a panoramic view of the city. A sixteen-foot-wide ring set into the floor of the restaurant, called La Ronde, makes one compete revolution every hour. Windows completely circle the restaurant and are tilted outward to reduce glare. The dining facilities are on the roof of the twenty-two-story Ala Moana Building. The office building, restaurant and an adjoining shopping center were designed by John Graham & Co., Seattle and New York architects. The restaurant seats 162 persons on the revolving floor. The seventy-two-foot-wide restaurant is cantilevered from a thirty-eight-foot-diameter concrete core which contains stairwells, elevators, kitchen and other facilities for La Ronde. A three-horsepower motor moves the floor of the restaurant. Two additional motors have been installed for emergency use."

From "Some Construction and Housing Firsts in Hawaii," by the Hawaiian Historical Society:

La Ronde is a revolving restaurant on the twenty-third floor of the Ala Moana Building, 1441 Kapiolani Boulevard. Opened to the public on November 21, 1961, it was variously described as "one of the first of its kind in the United States" and even as "the first revolving restaurant in the United States."

* Entry from "Firsts: Origins of Everyday Things That Changed the World" (book): @

* "Revolving Restaurants in the Americas" (from InterestingAmerica.com): @

* "Revolving architecture: A History of Buildings That Rotate, Swivel and Pivot" (book): @

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Wednesday. November 8, 1961: Insider trading

From "The Iconic Insider Trading Cases," by Stephen M. Bainbridge, law professor, UCLA School of Law, Law & Economics Research Paper Series:

The modern federal insider trading prohibition fairly can be said to have begun with Securities and Exchange Commission's (SEC or "Commission") enforcement action in Cady, Roberts & Co. Curtiss-Wright Corporation's board of directors decided to reduce the company's quarterly dividend. One of the directors, J. Cheever Cowdin, was also a partner of stock brokerage firm Cady, Roberts & Co. Before the news was announced, Cowdin informed one of his partners, Robert M. Gintel, of the impending dividend cut. Gintel then sold several thousand shares of Curtiss-Wright stock held in customer accounts over which he had discretionary trading authority. When the dividend cut was announced, Curtiss-Wright's stock price fell several dollars per share. Gintel's customers thus avoided substantial losses.

Cady, Roberts involved what is now known as tipping: an insider who knows confidential infromation does not himself trade, but rather informs -- tips -- someone else, who does trade. It also involved trading on an impersonal stock exchange, instead of a face-to-face transaction. As the SEC acknowledged, this made it "a case of first impression." Nonetheless, the SEC held that Gintel had violated Rule 10b-5.

* SEC ruling (in PDF form): @

* Summary of case and links (from sechistorical.org): @

* Insider trading timeline (from procon.org): @

* General information about insider trading (from upstartraising.com): @

* "From Horse Trading to Insider Trading: The Historical Antecedents of the Insider Trading Debate" (Paula J. Dalley, William and Mary Law Review, 1998): @

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November 1961: 'The Executive Coloring Book'

The tongue-in-cheek look at corporate life becomes a surprising best-seller. Wrote Time magazine, " 'The Executive Coloring Book' and a box of crayons will provide many a happy hour to growing vice presidents..." The book was written by Marcie Hans, Dennis Altman and Martin A. Cohen, who all worked in advertising in Chicago. Hans would go on to write "The Executive Cut-Out Book," while Altman and Cohen would team up on "The John Birch Coloring Book."

* Contents of "The Executive Coloring Book": @

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Undated: Paul Rand

Graphic designer Paul Rand creates a new logo for United Parcel Service. It was one of a string of distinctive, enduring corporate trademarks created by Rand, including IBM (designed in 1956 and refined in 1972), Westinghouse in 1960 and ABC in 1962.

* www.paul-rand.com: @

* Biography and career of Rand (from www.iconofgraphics.com): @

* History of UPS logo (from www.goodlogo.com): @

* History of IBM logo (from www.ibm.com): @

* Westinghouse brand guidelines (PDF): @

* Timeline of notable logos (from www.goodlogo.com): @

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October 1961: Electronic calculators

Made by the Bell Punch Company and marketed through Sumlock Comptometer Ltd., the first electronic desktop calculators are introduced: the ANITA Mark VII (pictured) at the Hamburg Business Equipment Fair in Germany, and the ANITA Mark VIII at the Business Efficiency Exhibition in London.

* www.anita-calculators.info: @

* Entry from Vintage Calculator Web Museum: @

* Entry from oldcalculatormuseum.com: @

* Advertisement: @

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Monday, September 18, 1961: Pork belly futures

The Chicago Mercantile Exchange begins trading pork belly futures.

From a 1991 article by The Associated Press: "A pork belly futures contract is an obligation to deliver or take delivery of 40,000 pounds of frozen bellies on a future date at a specified price."

From a 2010 article in The Wall Street Journal: "The pork belly, a slab of frozen meat from which bacon is cut ... earned the exchange the nickname 'The House That Bellies Built.' ... The contract started ... as a way for meat packers and food companies to manage their price risk of bacon. Pork bellies were frozen and stored away in winter, and then thawed out in the summer to accommodate the annual summer increase in demand for bacon as the nation munched through millions of bacon, lettuce and tomato sandwiches. The seasonal pattern gave rise to the need for producers to hedge against price fluctuations."

Photo from Chicago Tribune, 1967.

* "History of the Chicago Mercantile Exchange" (from 1970): @

* Timeline: @

* "The Ode: Pork Belly Futures (1961-2011)" (from canadianbusiness.com): @

* Trade in Pork Bellies Comes to an End, but the Lore Lives" (New York Times, July 2011): @

* "End of an Era: R.I.P. Pork Belly Futures" (July 2011): @

* CNBC video (2010): @

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Undated: Muscle Shoals, Alabama

Music producer Rick Hall moves his recording studio from Florence, Alabama, to nearby Muscle Shoals in 1961. (The studio's name, FAME, stands for Florence Alabama Music Enterprises.) The phrase "The Muscle Shoals Sound" would be used to describe the soulful sounds of FAME records. Its signature songs include "When A Man Loves A Woman" by Percy Sledge, "I Never Loved A Man (The Way I Love You)" by Aretha Franklin, "I'd Rather Go Blind" by Etta James and "Mustang Sally" by Wilson Pickett.

* Official website: @

* "Muscle Shoals -- The legendary studio where soul was born" (2011, from The Independent newspaper): @

* "The Legendary Muscle Shoals Sound" (NPR, 2003): @

* "A Studio on the Road to 'Fame' " (NPR, 2012): @
* "Muscle Shoals Rhythm Section" (from Encyclopedia of Alabama): @

* "Music Fell on Alabama" (Christopher S. Fuqua, 2006): @
* "Muscle Shoals" (Laura Flynn Tapia and Yoshie Lewis, 2007): @ 

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September 1961: Stax Records

Satellite Records, based in Memphis, Tennessee, changes its name to Stax Records, the word "Stax" combining the first two letters of the last names of company owners Jim Stewart and Estelle Axton. The first single released on the soul label was the Mar-Keys' "The Morning After," a follow-up to their earlier Satellite hit, "Last Night."

Note: I couldn't pinpoint the exact date of the name change. The earliest mention I could find is in the September 11 issue of Billboard magazine.

* Short history (from www.bluescentric.com): @

* Timeline (from www.staxmuseum.com): @

* "Birth of Stax": (by Robert Gordon): @

* Jim Stewart biography and timeline (from Rock and Roll Hall of Fame): @ and @

* "Soulsville, U.S.A.: The Story of Stax Records" (book by Rob Bowman): @

* Lesson plan for teachers (from www.pbs.org; includes links to artists' websites): @

* Listen to "Morning After": @

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Monday, July 31, 1961: Selectric typewriter

IBM Corp. begins selling its Selectric, introducing a new era in typewriter design and technology. Gone were individual typebars with a letter, number or symbol on each one; in their place was a golf-ball-shaped element that rotated and pivoted. The typeball was also interchangeable, allowing for different fonts. The machine meant faster typing and was an instant success.

* IBM press release marking anniversary: @

* "The Selectric Typewriter" (from www.ibm.com): @

* Operating manual: @

* "IBM Typewriter Milestones": @

* Ads for IBM typewriters: (from www.etypewriters.com): @

* 1961 newsreel (from criticalpast.com): @

* Selectric Typewriter Museum: @

* IBM Selectric Typewriter Resource Page: @

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July 1961: Renault 4L

The French automaker Renault introduces the Renault 4L. The front-wheel-drive hatchback became popular the world over, its versatility and relative spaciousness among the main selling points.

* Summary (from www.renault.com): @

* "A golden anniversary for one of the world's most popular cars" (from blog.hemmings.com): @

* "French put the small car's engine in front" (New Scientist, August 31): @

* Summary (translated from www.franceculture.com): @

* "History of 4L" (translated from French): @

* www.r4-4l.com (translated from French): @

* 4L International club (translated from French): @

* Commercials: @

* More footage: @ and @

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Undated: Soy sauce dispenser

Kikkoman Corp.'s new soy sauce bottle, designed by Kenji Ekuan, is so instantly recognizable -- and practical -- that it becomes a design classic. Also in 1961, Kikkoman introduces its teriyaki sauce, developed specificially for American customers. Teriyaki derives from the Japanese "teri" (gloss, luster) and "yaki" (roast).

* More about the bottle (from www.kikkoman.eu): @

* More about the bottle and Kikkoman (from www.strappingline.com): @

* Kikkoman USA website: @

* More about Kenji Ekuan: @

* Soy Sauce Museum: @

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Undated: 'The Prom: It's a Pleasure!'

Made by The Jam Handy Organization (and sponsored by The Coca-Cola Company), "The Prom: It's a Pleasure!" was an educational film about the prom night experience. Says amazon.com's editorial review: "From the phone call asking Junior Miss for the date, to the drop-off at the end of the night, this film details prom etiquette for the curious and uncouth teenager." (Note: the narrator and star of the film is America's Junior Miss, Mary Frances Luecke, who as Mary Frann would star as Bob Newhart's wife in the 1980s television comedy "Newhart.")

* Watch movie (from www.archive.org): @

* "Doing It for the Kids: Rebels and Prom Queens in the Cold War Classroom Film" (from Colloquy journal, Monash University, Australia): @

* "The American Dream in Postwar Classroom Films" (from DePaul University's School for New Learning): @

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Undated: Seven-digit telephone numbers

The Bell System is making the transition from alphanumeric telephone numbers ("PEnnsylvania 6-5000") to seven-digit numbers. The reason: to make more numbers available for the ever-increasing number of what were sometimes still called "telephone sets."

* "Mr. Digit and the Battle of Bubbling Brook" (Bell System film, 1961): @

* History of telephone prefixes (from privateline.com): @

* Telephone EXchange Name Project: @

* Time magazine article, May 11, 1962: @

* Time magazine article, July 13, 1962: @

* "The Let's All Call Up AT&T and Protest to the President March" (Allan Sherman song, 1963): @

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Thursday, June 1, 1961: FM radio

In April, the Federal Communications Commission approves standards for FM stereo broadcasting. On June 1, WGFM in Schenectady, New York, becomes the first FM station in the U.S. to regularly broadcast in stereo. (According to Billboard magazine, "Enoch Light's Command stereo albums were used exclusively for programming the first day.")

* "What you'll want to know about FM stereo" (Popular Science, June 1962): @

* Excerpt from "The Guide to United States Popular Culture" (book): @

* Sounds of Change: A History of FM Broadcasting in America" (book): @

* Enoch Light website: @

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Undated: Illuminated tires

The original caption from this 1961 photo (by Getty Images, likely taken in England -- note the spelling of "tyre") reads: "A woman adjusts her stocking by the light of the new Goodyear illuminated tyres. The tyre is made from a single piece of synthetic rubber and is brightly lit by bulbs mounted inside the wheel rim. The Goodyear Tyre Company intend to produce the tyres in a variety of colours."

* "Colorful use for tires of future" (Life magazine, December 5, 1960): @

* Footage (Germany, 1962): @

* "30 Dumb Inventions" (photo gallery from Life.com): @

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Monday, May 1, 1961: Legalized betting in England

A portion of the Betting and Gaming Act of 1960 is enacted as betting shops open throughout England. (They had been outlawed since 1853.) Within six months 10,000 shops would appear.

* Summary (from information-britain.co.uk): @

* Summary (from BBC): @

* 2008 article from The Independent: @

* "An Act for the Suppression of Betting Houses" (from 1853): @

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Undated: Industrial robot

Unimate, the world's first industrial robot, is put to work at a General Motors plant in Ewing Township, New Jersey. Its job: taking red-hot metal parts (door handles, etc.) from a die-casting machine and placing them in cooling vats.

* Entry in Robot Hall of Fame: @

* 1999 article from The Trentonian newspaper: @

* 1966 footage of the Unimate on "The Tonight Show Starring Johnny Carson": @

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March, 1961: The Studebaker Avanti

Sherwood Egbert (at right in photo), the new president of the Studebaker-Packard Corporation, turns to famed industrial designer Raymond Loewy (left) to create a sports car that will reinvigorate the company. The result: the Avanti. Its sleek, modern look is a complete departure from the more rounded Studebakers and Packards of years past.

After meeting with Egbert in early March, Loewy gathers a team of designers and sets to work near Palm Springs, California. Remarkably, they produce the completely new design (and a full-size clay model) in less than 6 weeks. The Avanti is pushed into production and would debut at the New York Auto Show in April 1962.

-- The Avanti:

* Summary (from howstuffworks.com): @

* Summary (from danjedlicka.com): @

* "The Unlikely Studebaker" (from ateupwithmotor.com): @

* Raymond Loewy's sketches for Avanti (from Library of Congress): @

* www.avantisource.com: @

* Avanti Owners Association International: @

* Short film introducing the car: @

-- Raymond Loewy:

* Official website: @

* www.raymondloewy.org: @

* Virtual exhibit (from Hagley Museum and Library in Wilmington, Delaware): @

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