The Decade in Review: 2006-2007

2006

Once again, here we are, remembering the decade that was…and celebrating the fact that it’s almost over!!! The markets didn’t do too badly over these two years. Early in January of ’06, we see the Dow close above 11,000 for the first time in six and half years. January also sees Hamas win the majority in the Palestinian elections. Samuel Alito is also sworn in to the Supreme Court.

February also starts on a good note as UAL Corporation (parent company of United Airlines) comes out of bankruptcy. Blu-ray discs are released for the first time in March. The Federal Reserve also stops publishing data on the M3 money supply. In May, Fiat announces that the Alfa Romeo is coming back to the States.

In June, after three years of fighting in Iraq, the U.S. kills one of the leaders of Al-Qaeda and seven of his aides. Investment guru, Warren Buffett donates over $30 billion to the Bill & Melinda Gates Foundation. In October, Google buys YouTube for $1.65 billion.

On November 5th, Saddam Hussein is sentenced to death by hanging (the execution is carried out on December 30th). In the battle for video game dominance, the Sony PS3 and the Nintendo Wii are released two days apart from each other.

Notable Deaths: Lou Rawls (singer), Shelley Winters (actress), Coretta Scott King (civil rights activist), Don Knotts (actor), Kirby Puckett (baseball player), Maureen Stapleton (actress), Slobodan Milosevic (Serbian leader), Caspar Weinberger (U.S. Secretary of Defense), Floyd Patterson (boxer), Desmond Dekker (singer), Billy Preston (musician), Aaron Spelling (TV producer), Red Buttons (comedian), Mickey Spillane (writer), Jack Warden (actor), Steve Irwin (TV show host), Byron Nelson (golfer), Buck O’Neil (baseball player), Cory Lidle (baseball player), Red Auerbach (basketball coach), Ed Bradley (journalist), Gerald Levert (singer), Jack Palance (actor), Milton Friedman (economist), Bo Schembechler (football coach), Robert Altman (movie director), Peter Boyle (actor), Lamar Hunt (sports executive), James Brown (singer), Gerald R. Ford (38th President of the United States).

2007

In February, we have what sounds like a bad movie, “The Chinese Correction.” The Shanghai exchange dropped 9% in one day due to fears the government would start raising interest rates. The Dow dropped 3.29% to 12,216 and the S&P closed down 3.45%. At one point in afternoon trading, the DJIA dropped 200 points in mere seconds.

In July, the final “Harry Potter” novel is released and sells over 11 million copies in the first 24 hours. On August 14th, where there is still fighting in Iraq, multiple suicide bombings kill 572 people. Marion Jones, track & field superstar, hands over the 5 medals she won in 2000 after admitting to using performance enhancing drugs.

In November, the Writers Guild of America goes on strike, forcing us to turn off the television and actually have a conversation with our spouses. The strike lasts until February, 2008.

Notable Deaths: Michael Brecker (musician), Art Buchwald (humorist), Sidney Sheldon (author), Anna Nicole Smith (model), Dennis Johnson (basketball player), Ernest Gallo (winemaker), Eddie Robinson (football coach), Kurt Vonnegut (author), Don Ho (musician), Boris Yeltsin (Russian leader), Jerry Falwell (evangelist), Bob Evans (restaurant owner), Liz Claiborne (fashion designer), Joel Siegel (film critic), Ingmar Bergman (film director), Bill Walsh (football coach), Merv Griffin (TV personality), Brooke Astor (philanthropist), Phil Rizzuto (baseball player), Leona Helmsley (real estate investor), Luciano Pavorotti (singer), Robert Jordan (author), Marcel Marceau (mime), Joey Bishop (entertainer), Robert Goulet (entertainer), Norman Mailer (author), Evel Knievel (daredevil), Ike Turner (musician), Benazir Bhutto (Pakistani politician).

Just two more years to go…it is truly sad to see all of these icons that have past away over the last 10 years. May they all rest in peace.

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The Decade in Review: 2004-2005

2004

The year, like many others this decade, is filled with bad news. In February, the CIA comes clean and publicly states that there never an imminent threat of “weapons of mass destruction” before the U.S. attacked Iraq a year earlier. A phenomenon that turned a college kid with too much time on his hands into a billionaire starts as Facebook is created. In the first three months of the year, there are suicide bombing attacks in Baghdad, Moscow, Madrid, a ferry in the Philippines and Israel, killing over 370 people.

Things escalate further in Israel as helicopters fire missiles at leaders of Hamas in the Gaza Strip. The good times just keep rolling as we learn about the abuse of prisoners at Abu Ghraib from 60 Minutes. An era also ends as the last Oldsmobile is made at the end of April. On May 17th, in a win for the progressives, the state of Massachusetts legalizes same-sex marriage.

On June 5th, the 40th President of the U.S., Ronald Reagan passes away. On June 28th, the sovereignty of Iraq is turned over to the Iraqi Interim Government. Later that summer, James McGreevey, Governor of New Jersey comes out of the closet and announces his resignation effective in November.

On September 1st, Chechen rebels take over 1,000 people, mostly children hostage. After two days, Russian forces remove the terrorists, but 335 die and at least 700 are injured. Over the course of a month, four hurricanes cause major chaos in the Caribbean and Gulf. The TV show lost premieres and we learn that the term “flip flop” can be used for more than just fashion.

In November, George W. Bush wins the Presidential election. Colin Powell resigns as Secretary of State, to be replaced by Condoleeza Rice. In December, Oracle and Peoplesoft agree to merge as do Symantec and Veritas. In December, “THE Tsunami” hits southeast Asia, killing over 200,000 (no, that is NOT a typo).

Notable Deaths: Tug McGraw (baseball player), Jack Paar (TV show host), Marge Schott (baseball team owner), Pat Tillman (football player and U.S. Ranger), Estee Lauder (cosmetics entrepreneur), Tony Randall (actor), Ray Charles (musician), Marlon Brando (actor), Rick James (singer), Rodney Dangerfield (comedian), Christopher Reeve (Superman), Yasser Arafat (Palestinian leader), Reggie White (football player), Artie Shaw (musician), Jerry Orbach (actor).

2005

The year starts off slow (considering 2004, that’s a good thing) as the American people are still hung over either from what they drank on election day, or started right after. In April, Pope John Paul II passes away and is succeeded by Pope Benedict XVI. On May 17th, Kuwaiti women are given the right to vote.

In July, four bombs explode simultaneously in London killing 56 and injuring over 700. On August 29th, Hurricane Katrina hits New Orleans. Over 1,800 people are killed and the entire Gulf Coast is devastated. The Bali bombings happen October 1st, killing 26 and injuring over 100. The world’s largest bank, Mitsubishi UFJ Financial Group, is also formed on that day. On October 19th, the Saddam Hussein Trials begin.

Notable Deaths: Johnny Carson (TV show host), Arthur Miller (playwright), Hunter S. Thompson (journalist), Peter Benenson (founder of Amnesty International), Johnnie Cochran (lawyer), Saul Bellow (writer), Peter Jennings (news anchor), William Rehnquist (Supreme Court judge), Simon Weisenthal(Nazi hunter), Don Adams (actor), Rosa Parks (civil rights activist), Pat Morita (actor), Richard Pryor (comedian).

The shopping is over. I hope you all have a very merry Christmas!!!

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The Decade in Review: 2002 -2003

As we continue down the path of remembrance, it is easy to see how this decade can be coined the “Decade From Hell.” A lot has happened in a short period of time. Today we will cover 2002 & 2003.



On January 8th, the “No Child Left Behind Act” is signed into law. Wall Street Journal reporter Daniel Pearl is kidnapped on January 23rd and murdered on February 1st. In February, the trial of Slobodan Milosevic begins for war crimes. “Operation Anaconda” begins as the U.S. invades Afghanistan. It ends in 18 days. 500 Taliban and Al Qaeda fighters are killed while the U.S. suffers 11 fatalities.

In July, Worldcom files for Chapter 11 bankruptcy. On August 12th, US Airways files for bankruptcy. On October 9th, the stock market reaches a bottom as it hits 7,200. On November 25th, the “Homeland Security Act” is signed into law. President Jimmy Carter wins the Nobel Peace prize.

Notables Deaths: Dave Thomas (owner of Wendy’s), Waylon Jennings (musician), Chuck Jones (animator), James Tobin (economist), Milton Berle (comedian), Dudley Moore (actor), Sam Snead (golfer), John Gotti (gangster), Bill Blass (fashion designer), Jack Buck (baseball announcer), John Entwistle (musician), Rosemary Clooney (singer), Ted Williams (baseball player), Johnny Unitas (football player), Stephen Ambrose (historian), Jam-Master Jay (DJ, hip-hop icon).

2003

On January 24th, the Department of Homeland Security begins operation. The Space Shuttle Columbia explodes on February 1st, killing all 7 astronauts onboard. The world also learns about SARS in this month. On March 20th, Iraq is invaded. U.S. forces size control of Baghdad on April 9th. On May 1st is the infamous “Mission Accomplished” episode. Martha Stewart and her broker are indicted for insider trading on June 4th.

On July 14th, the “CIA Leak Scandal” begins as Valerie Plame’s name is published in the Washington Post. The sons of Saddam Hussein, Uday and Qusay, are killed on July 22nd. On October 7th, The Terminator is voted Governor of California and on the 10th, Rush Limbaugh admits to having a problem with prescription pain meds. In December, Saddam Hussein is captured by American troops.

Notable Deaths: Maurice Gibb (musician), Nell Carter (actress), Daniel Patrick Moynihan (politician), Robert Atkins (nutritionist), June Carter Cash (singer), David Brinkley (journalist), Gregory Peck (actor), Strom Thurmond (politician), Katharine Hepburn (actress), Buddy Hackett (comedian), Barry White (singer), Bob Hope (comedian), Gregory Hines (dancer), Charles Bronson (actor), Warren Zevon (musician), John Ritter (actor), Johnny Cash (singer), George Plimpton (writer), Elia Kazan (director), Bill Shoemaker (jockey), Art Carney (actor), Michael Kamen (composer), Warren Spahn (baseball player).

Two more years completed. Six more to go.

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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.

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