The Decade in Review: 2000-2001

As we come to the end of what Time Magazine has called “The Decade From Hell,” it’s time to remember where we came from. Starting with the Y2K scare, it is truly amazing the sheer amount of “stuff” that has occurred. Throughout the end of this year, I will try and cover as much as I can. It is important not to forget, because those who forget history are doomed to repeat it.

2000:
The decade started with a bang. While still in the middle of the “Tech Bubble,” on January 10th, America Online announces that it is buying Time Warner for a record $162 billion (a relationship that has just recently dissolved). In March, the NASDAQ reaches an all-time high of 5,048, but drops to 2,407 by the end of the year as the bubble pops (Anybody remember pets.com?).

The price of regular gasoline closes in on $2/gallon. After 128 years, Montgomery Ward closes its doors. On October 12th, two Al-Qaeda suicide bombers attack the USS Cole in Yemen, killing 17 crew members and wounding 39. The term “hanging chad” becomes a part of our vocabulary as the chaos from the presidential election ensues. While there is still some argument to the contrary, George W. Bush is announced as the formal winner of the election.

Over the course of the year, notable passings are Tom Landry (coach of the Dallas Cowboys), Charles Schulz (creator of “Peanuts” cartoon), Cardinal O’Connor (Archbishop of NY), Walter Matthau (actor), Alec Guinness (actor), Steve Allen (comedian).

2001:
Early in January, the FTC approves the merger of AOL and Time Warner. George W. Bush is sworn in as the 43rd President of the United States. On February 18th, FBI agent Robert Hanssen is arrested and charged with spying for the Russians (a movie is later made).

On September 11th, four commercial airline jets are hijacked. Two crash into the World Trade Center, one the Pentagon and one into a field in Pennsylvania as the passengers fight to keep it from reaching the hijackers’ intended destination. Almost 3,000 people die, including all aboard the airliners and many police officers and firefighters called to help at the WTC. Trading on Wall Street is halted for 6 days.

Shortly after, envelopes filled with Anthrax are mailed to five major news outlets as well as two U.S. Senators. Five people die from exposure. On October 7th, the United States begins its “War on Terror” by invading Afghanistan (a war that still goes on today). On October 26th, the USA Patriot Act is signed into law. On December 2nd, Enron files for Bankruptcy.

Notable passings: Dale Earnhardt (NASCAR driver), Robert Ludlum (author), Joey Ramone (musician), Perry Como (singer), Jack Lemmon (actor), Ken Kesey (author), George Harrison (musician).

Stick around as we cover the rest of the decade in the coming weeks. Come back tomorrow and see what new and exciting commentary we have to review from the ZepInvest publishers.

Print this post