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5 Great Depression Success Stories

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The news about the economy continues to be glum, which makes you wonder if any industry or business could possibly be doing well in such a crummy financial climate. While it might not be easy, it's certainly possible to succeed in a slumping economy. Just take a look at these entities that faced serious challenges during a much bigger fiasco, the Great Depression, and lived to tell about it.

1. Floyd Bostwick Odlum

Many investors lost everything during the market crash of 1929 because they has mistakenly assumed Wall Street's good times were never going to end. Odlum, a former corporate attorney who had cannily turned $39,000 into a multimillion-dollar fortune by investing in utility companies, didn't like the way he thought the markets were moving, though. He cut bait on stocks in an effort to generate cash before the market crash he thought was coming.

When the crash came, Odlum had millions in cash on hand, an enviable position in a cash-starved market. He began swooping in to buy up failing companies at drastically reduced prices and then consolidating or spinning their assets for more cash. It sounds like a pretty simple model, but it was so effective it made Odlum one of the ten wealthiest men in the country and earned him the title of "possibly the only man in the United States who made a great fortune during the Depression."

2. Movies

The beginning of the Great Depression in late 1929 came at a particularly inopportune time for the film industry, which had recently evolved with the 1927 release of The Jazz Singer, a milestone talkie. Just as the industry seemed to be gaining momentum, unemployment shot up and the sort of disposable income one uses for little luxuries like going to the movies steeply declined. Early in the economic crisis, many moviehouses had to close their doors due to the decreased traffic, and most of the once-profitable studios started turning losses in the 1930s.

Faced with this glum market, the film industry got creative. To give customers maximum bang for their scant bucks, theaters cut ticket prices by 50% or more and started giving patrons two features for the price of one ticket. These double features propped up demand for cheaply made B movies, and smaller studios stayed afloat by banging out these quick products.

Theater owners resorted to even more desperate hucksterism, though. During the Depression it was fairly common for theaters to use giveaways to fill their seats. Promotions like "Dish Night" in which any woman who attended got a free dinner plate, cash door prizes, and silverware giveaways where each trip to see a flick got you closer to having a complete set of flatware helped buoy up attendance. Although box-office takes swooned to $480 million in 1933, they slowly climbed back up to $810 million by 1941, in part due to these disaster-management tricks.

3. Procter and Gamble

The Great Depression was trying for most consumer product companies, but Procter and Gamble came out of the whole ordeal smelling better than it had in 1929. How did the soap giant beat the Depression? Things were tough at first when mainstay grocery customers started cutting their orders and inventories piled up. P&G apparently realized that even in a depression people would need soap, though, so they might as well buy it from Procter and Gamble.

Oxydol.jpgThus, instead of throttling down its advertising efforts to cut costs, the company actively pursued new marketing avenues, including commercial radio broadcasts. One of these tactics involved sponsoring daily radio serials aimed at homemakers, the company's core market. In 1933 P&G debuted its first serial, Oxydol's Own Ma Perkins, and women around the country quickly fell in love with the tales of the kind widow. The program was so successful that P&G started cranking out similar programs to support its other brands, and by 1939, the company was producing 21 of these so-called "soap operas." In 1940 the company started its own production division for soap operas, and in 1950 it made the first ongoing television soap opera, The First Hundred Years.

P&G's share price is currently trading at about $20 below its 52-week high, so maybe it's time for the consumer goods behemoth to go back to what works. Might we suggest YouTube videos involving the antics of adorable babies?

4. Martin Guitars

Like movies, musical instruments would seem to be a vulnerable industry in a down economy, but venerable acoustic guitar maker Martin made it through the Depression using a number of strategies. The company stuck to its principle of not giving high-volume retailers discounts, which maintained its relationship with smaller dealers and cemented the company's image as a square dealer.

Martin also started offering new, less expensive models that went on to enjoy great popularity. The "dreadnought" body style was one of these triumphs; it included a larger, deeper body that provided more volume and bass resonance. Martin introduced its first archtop guitar in 1931, and the company also revolutionized its designs by using 14-fret necks on its guitars. These technical changes, coupled with Martin's dedication to giving its customers high-quality instruments at reasonable prices, helped keep its sales up throughout the Depression.

5. Brewers

The Depression was hard enough for most companies, but the nation's brewers had it especially bad. Sure, money was tight, but brewer's core product, beer, wasn't even legal. During national Prohibition from 1920 to 1933, about half of the country's breweries closed their doors for good, but the rest stuck it out hoping for a repeal. How did these brewers make ends meet during the Depression when they couldn't sell suds to the distressed 25% of workers who didn't have jobs?

yuengling.jpgBy diversifying. And then diversifying some more. Brewers started running dairies, selling meat, and venturing out into other agricultural enterprises. Brewers were also allowed to make "near beer" that had only trace amounts of alcohol, but the Depression killed off consumer demand from 300 million gallons in 1921 to just 86 million gallons in 1932. Breweries also started applying their expertise to non-alcoholic tipples like ginger beer; during the Depression there were upwards of 300 breweries making the spicy soft drink. Frank Yuengling, who headed the brewery of the same name outside of Philadelphia, remained confident that Prohibition was just a phase, and he personally diversified widely, including a foray as a bank president and opening a dance hall.

In the end, waiting out the storm by diversifying (and maybe brewing some illicit beer on the side) turned out to be a sound strategy. According to a 2005 survey of the American brewing industry, eight of the 10 largest brewers in the U.S. are pre-Prohibition brands that survived through the Depression.

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10 Memorable Neil deGrasse Tyson Quotes
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Neil deGrasse Tyson is America's preeminent badass astrophysicist. He's a passionate advocate for science, NASA, and education. He's also well-known for a little incident involving Pluto. And the man holds nearly 20 honorary doctorates (in addition to his real one). In honor of his 59th birthday, here are 10 of our favorite Neil deGrasse Tyson quotes.

1. ON SCIENCE

"The good thing about science is that it's true whether or not you believe in it."
—From Real Time with Bill Maher.

2. ON NASA FUNDING

"As a fraction of your tax dollar today, what is the total cost of all spaceborne telescopes, planetary probes, the rovers on Mars, the International Space Station, the space shuttle, telescopes yet to orbit, and missions yet to fly?' Answer: one-half of one percent of each tax dollar. Half a penny. I’d prefer it were more: perhaps two cents on the dollar. Even during the storied Apollo era, peak NASA spending amounted to little more than four cents on the tax dollar." 
—From Space Chronicles

3. ON GOD AND HURRICANES

"Once upon a time, people identified the god Neptune as the source of storms at sea. Today we call these storms hurricanes ... The only people who still call hurricanes acts of God are the people who write insurance forms."
—From Death by Black Hole

4. ON THE BENEFITS OF TECHNOLOGY INVENTED FOR USE IN SPACE

"Countless women are alive today because of ideas stimulated by a design flaw in the Hubble Space Telescope." (Editor's note: technology used to repair the Hubble Space Telescope's optical problems led to improved technology for breast cancer detection.)
—From Space Chronicles

5. ON THE DEMOTION OF PLUTO FROM PLANET STATUS 

PBS

"I knew Pluto was popular among elementary schoolkids, but I had no idea they would mobilize into a 'Save Pluto' campaign. I now have a drawer full of hate letters from hundreds of elementary schoolchildren (with supportive cover letters from their science teachers) pleading with me to reverse my stance on Pluto. The file includes a photograph of the entire third grade of a school posing on their front steps and holding up a banner proclaiming, 'Dr. Tyson—Pluto is a Planet!'"
—From The Sky Is Not the Limit

6. ON JAMES CAMERON'S TITANIC

"In [Titanic], the stars above the ship bear no correspondence to any constellations in a real sky. Worse yet, while the heroine bobs ... we are treated to her view of this Hollywood sky—one where the stars on the right half of the scene trace the mirror image of the stars in the left half. How lazy can you get?"
—From Death by Black Hole

7. ON DEATH BY ASTEROID

"On Friday the 13th, April 2029, an asteroid large enough to fill the Rose Bowl as though it were an egg cup will fly so close to Earth that it will dip below the altitude of our communication satellites. We did not name this asteroid Bambi. Instead, we named it Apophis, after the Egyptian god of darkness and death."
—From Space Chronicles

8. ON THE MOTIVATIONS BEHIND AMERICA'S MOONSHOT

"[L]et us not fool ourselves into thinking we went to the Moon because we are pioneers, or discoverers, or adventurers. We went to the Moon because it was the militaristically expedient thing to do."
—From The Sky Is Not the Limit

9. ON INTELLIGENT LIFE (OR THE LACK THEREOF)

Perhaps we've never been visited by aliens because they have looked upon Earth and decided there's no sign of intelligent life.
Read more at: https://www.brainyquote.com/quotes/quotes/n/neildegras615117.html
Perhaps we've never been visited by aliens because they have looked upon Earth and decided there's no sign of intelligent life.
Read more at: https://www.brainyquote.com/quotes/quotes/n/neildegras615117.html

"Perhaps we've never been visited by aliens because they have looked upon Earth and decided there's no sign of intelligent life."

10. PRACTICAL ADVICE IN THE EVENT OF ALIEN CONTACT 

A still from Steven Spielberg's E.T. the Extra-Terrestrial
Universal Studios
"[I]f an alien lands on your front lawn and extends an appendage as a gesture of greeting, before you get friendly, toss it an eightball. If the appendage explodes, then the alien was probably made of antimatter. If not, then you can proceed to take it to your leader."
—From Death by Black Hole
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40 Fun Facts About Sesame Street
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Now in its 47th season, Sesame Street is one of television's most iconic programs—and it's not just for kids. We're big fans of the Street, and to prove it, here are some of our favorite Sesame facts from previous stories and our Amazing Fact Generator.

Sesame Workshop

1. Oscar the Grouch used to be orange. Jim Henson decided to make him green before season two.

2. How did Oscar explain the color change? He said he went on vacation to the very damp Swamp Mushy Muddy and turned green overnight.

3. During a 2004 episode, Cookie Monster said that before he started eating cookies, his name was Sid.

4. In 1980, C-3PO and R2-D2 visited Sesame Street. They played games, sang songs, and R2-D2 fell in love with a fire hydrant.

5. Mr. Snuffleupagus has a first name—Aloysius

6. Ralph Nader stopped by in 1988 and sang "a consumer advocate is a person in your neighborhood."

7. Caroll Spinney said he based Oscar's voice on a cab driver from the Bronx who brought him to the audition.

8. In 1970, Ernie reached #16 on the Billboard Hot 100 with the timeless hit "Rubber Duckie."

9. One of Count von Count's lady friends is Countess von Backwards, who's also obsessed with counting but likes to do it backwards.

10. Sesame Street made its Afghanistan debut in 2011 with Baghch-e-Simsim (Sesame Garden). Big Bird, Grover and Elmo are involved.

11. According to Muppet Wiki, Oscar the Grouch and Count von Count were minimized on Baghch-e-Simsim "due to cultural taboos against trash and vampirism."

12. Before Giancarlo Esposito was Breaking Bad's super intense Gus Fring, he played Big Bird's camp counselor Mickey in 1982.

13. Thankfully, those episodes are available on YouTube.

14. How big is Big Bird? 8'2". (Pictured with First Lady Pat Nixon.)

15. In 2002, the South African version (Takalani Sesame) added an HIV-positive Muppet named Kami.

16. Six Republicans on the House Commerce Committee wrote a letter to PBS president Pat Mitchell warning that Kami was not appropriate for American children, and reminded Mitchell that their committee controlled PBS' funding.

17. Sesame Street's resident game show host Guy Smiley was using a pseudonym. His real name was Bernie Liederkrantz.

18. Bert and Ernie have been getting questioned about their sexuality for years. Ernie himself, as performed by Steve Whitmere, has weighed in: “All that stuff about me and Bert? It’s not true. We’re both very happy, but we’re not gay,”

19. A few years later, Bert (as performed by Eric Jacobson) answered the same question by saying, “No, no. In fact, sometimes we are not even friends; he can be a pain in the neck.”

20. In the first season, both Superman and Batman appeared in short cartoons produced by Filmation. In one clip, Batman told Bert and Ernie to stop arguing and take turns choosing what’s on TV.

21. In another segment, Superman battled a giant chimp.

22. Telly was originally "Television Monster," a TV-obsessed Muppet whose eyes whirled around as he watched.

23. According to Sesame Workshop, Elmo is the only non-human to testify before Congress.

24. He lobbied for more funding for music education, so that "when Elmo goes to school, there will be the instruments to play."

25. In the early 1990s, soon after Jim Henson’s passing, a rumor circulated that Ernie would be killed off in order to teach children about death, as they'd done with Mr. Hooper.

26. According to Snopes, the rumor may have spread thanks to New Hampshire college student, Michael Tabor, who convinced his graduating class to wear “Save Ernie” beanies and sign a petition to persuade Sesame Workshop to let Ernie live.

27. By the time Tabor was corrected, the newspapers had already picked up the story.

28. Sesame Street’s Executive Producer Carol-Lynn Parente joined Sesame Workshop as a production assistant and has worked her way to the top.

29. Originally, Count von Count was more sinister. He could hypnotize and stun people.

30. According to Sesame Workshop, all Sesame Street's main Muppets have four fingers except Cookie Monster, who has five.

31. The episode with Mr. Hooper's funeral aired on Thanksgiving Day in 1983. That date was chosen because families were more likely to be together at that time, in case kids had questions or needed emotional support.

32. Mr. Hooper’s first name was Harold.

33. Big Bird sang "Bein' Green" at Jim Henson's memorial service.

34. As Chris Higgins put it, the performance was "devastating."

35. Oscar's Israeli counterpart is Moishe Oofnik, whose last name means “grouch” in Hebrew.

36. Nigeria's version of Cookie Monster eats yams. His catchphrase: "ME WANT YAM!"

37. Sesame's Roosevelt Franklin ran a school, where he spoke in scat and taught about Africa. Some parents hated him, so in 1975 he got the boot, only to inspire Gob Bluth’s racist puppet Franklin on Arrested Development 28 years later.

38. Our good friend and contributor Eddie Deezen was the voice of Donnie Dodo in the 1985 classic Follow That Bird.

39. Cookie Monster evolved from The Wheel-Stealer—a snack-pilfering puppet Jim Henson created to promote Wheels, Crowns and Flutes in the 1960s.

40. This puppet later was seen eating a computer in an IBM training film and on The Ed Sullivan Show.

Thanks to Stacy Conradt, Joe Hennes, Drew Toal, and Chris Higgins for their previous Sesame coverage!

An earlier version of this article appeared in 2012.

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