August 8, 1974

In an evening televised address, President Richard M. Nixon announces his intention to become the first president in American history to resign. With impeachment proceedings underway against him for his involvement in the Watergate affair, Nixon was finally bowing to pressure from the public and Congress to leave the White House. “By taking this action,” he said in a solemn address from the Oval Office, “I hope that I will have hastened the start of the process of healing which is so desperately needed in America.”
Just before noon the next day, Nixon officially ended his term as the 37th president of the United States. Before departing with his family in a helicopter from the White House lawn, he smiled farewell and enigmatically raised his arms in a victory or peace salute. The helicopter door was then closed, and the Nixon family began their journey home to San Clemente, California. Minutes later, Vice President Gerald R. Ford was sworn in as the 38th president of the United States in the East Room of the White House. After taking the oath of office, President Ford spoke to the nation in a television address, declaring, “My fellow Americans, our long national nightmare is over.” He later pardoned Nixon for any crimes he may have committed while in office, explaining that he wanted to end the national divisions created by the Watergate scandal.
On June 17, 1972, five men, including a salaried security coordinator for President Nixon’s reelection committee, were arrested for breaking into and illegally wiretapping the Democratic National Committee headquarters in the Washington, D.C., Watergate complex. Soon after, two other former White House aides were implicated in the break-in, but the Nixon administration denied any involvement. Later that year, reporters Carl Bernstein and Bob Woodward of The Washington Post discovered a higher-echelon conspiracy surrounding the incident, and a political scandal of unprecedented magnitude erupted.
In May 1973, the Senate Select Committee on Presidential Campaign Activities, headed by Senator Sam Ervin of North Carolina, began televised proceedings on the rapidly escalating Watergate affair. One week later, Harvard law professor Archibald Cox was sworn in as special Watergate prosecutor. During the Senate hearings, former White House legal counsel John Dean testified that the Watergate break-in had been approved by former Attorney General John Mitchell with the knowledge of White House advisers John Ehrlichman and H.R. Haldeman, and that President Nixon had been aware of the cover-up. Meanwhile, Watergate prosecutor Cox and his staff began to uncover widespread evidence of political espionage by the Nixon reelection committee, illegal wiretapping of thousands of citizens by the administration, and contributions to the Republican Party in return for political favors.
In July, the existence of what were to be called the Watergate tapes–official recordings of White House conversations between Nixon and his staff–was revealed during the Senate hearings. Cox subpoenaed these tapes, and after three months of delay President Nixon agreed to send summaries of the recordings. Cox rejected the summaries, and Nixon fired him. His successor as special prosecutor, Leon Jaworski, leveled indictments against several high-ranking administration officials, including Mitchell and Dean, who were duly convicted.
Public confidence in the president rapidly waned, and by the end of July 1974 the House Judiciary Committee had adopted three articles of impeachment against President Nixon: obstruction of justice, abuse of presidential powers, and hindrance of the impeachment process. On July 30, under coercion from the Supreme Court, Nixon finally released the Watergate tapes. On August 5, transcripts of the recordings were released, including a segment in which the president was heard instructing Haldeman to order the FBI to halt the Watergate investigation. Three days later, Nixon announced his resignation.

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AP

Iona Luvsandorj, 28, broke a world endurance record by contorting her body into the “Marinelli” pose for 33 seconds.

A 28-year-old woman from London has broken a world record by contorting her body into a grueling pose known as the “Marinelli bend” — and using her mouth to support her body weight for 33 seconds, the Daily Telegraph reported.

Iona Luvsandorj, a contortionist who performs all over the world, said the pose is “not painful.”

“Do not try this at home,” Luvsandorj said.

The Marinelli pose is an overturned backbend. The entire body is supported by the mouth by holding onto a small post between the gums.

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October 18, 1867

On this day in 1867, the U.S. formally takes possession of Alaska after purchasing the territory from Russia for $7.2 million, or less than two cents an acre. The Alaska purchase comprised 586,412 square miles, about twice the size of Texas, and was championed by William Henry Seward, the enthusiasticly expansionist secretary of state under President Andrew Johnson.

Russia wanted to sell its Alaska territory, which was remote, sparsely populated and difficult to defend, to the U.S. rather than risk losing it in battle with a rival such as Great Britain. Negotiations between Seward (1801-1872) and the Russian minister to the U.S., Eduard de Stoeckl, began in March 1867. However, the American public believed the land to be barren and worthless and dubbed the purchase “Seward’s Folly” and “Andrew Johnson’s Polar Bear Garden,” among other derogatory names. Some animosity toward the project may have been a byproduct of President Johnson’s own unpopularity. As the 17th U.S. president, Johnson battled with Radical Republicans in Congress over Reconstruction policies following the Civil War. He was impeached in 1868 and later acquitted by a single vote. Nevertheless, Congress eventually ratified the Alaska deal.
Public opinion of the purchase turned more favorable when gold was discovered in a tributary of Alaska’s Klondike River in 1896, sparking a gold rush. Alaska became the 49th state on January 3, 1959, and is now recognized for its vast natural resources. Today, 25 percent of America’s oil and over 50 percent of its seafood come from Alaska. It is also the largest state in area, about one-fifth the size of the lower 48 states combined, though it remains sparsely populated.
The name Alaska is derived from the Aleut word alyeska, which means “great land.” Alaska has two official state holidays to commemorate its origins: Seward’s Day, observed the last Monday in March, celebrates the March 30, 1867, signing of the land treaty between the U.S. and Russia, and Alaska Day, observed every October 18, marks the anniversary of the formal land transfer.

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October 11, 2002

Jimmy Carter wins Nobel Prize

On this day in 2002, former President Jimmy Carter wins the Nobel Peace Prize “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.”

Carter, a peanut farmer from Georgia, served one term as U.S. president between 1977 and 1981. One of his key achievements as president was mediating the peace talks between Israel and Egypt in 1978. The Nobel Committee had wanted to give Carter (1924- ) the prize that year for his efforts, along with Anwar Sadat and Menachim Begin, but was prevented from doing so by a technicality–he had not been nominated by the official deadline.

After he left office, Carter and his wife Rosalynn created the Atlanta-based Carter Center in 1982 to advance human rights and alleviate human suffering. Since 1984, they have worked with Habitat for Humanity to build homes and raise awareness of homelessness. Among his many accomplishments, Carter has helped to fight disease and improve economic growth in developing nations and has served as an observer at numerous political elections around the world.

The first Nobel Prizes–awards established by Swedish industrialist Alfred Nobel (1833-1896) in his will–were handed out in Sweden in 1901 in the fields of physics, chemistry, medicine, literature and peace. The Nobel Prize in economics was first awarded in 1969. Carter was the third U.S. president to receive the award, worth $1 million, following Theodore Roosevelt (1906) and Woodrow Wilson (1919).

• U.S. takes possession of Alaska
• This day in history
• Nixon resigns

July 16, 1945

Atom bomb successfully tested

On this day in 1945, at 5:29:45 a.m., the Manhattan Project comes to an explosive end as the first atom bomb is successfully tested in Alamogordo, New Mexico.

Plans for the creation of a uranium bomb by the Allies were established as early as 1939, when Italian emigre physicist Enrico Fermi met with U.S. Navy department officials at Columbia University to discuss the use of fissionable materials for military purposes. That same year, Albert Einstein wrote to President Franklin Roosevelt supporting the theory that an uncontrolled nuclear chain reaction had great potential as a basis for a weapon of mass destruction. In February 1940, the federal government granted a total of $6,000 for research. But in early 1942, with the United States now at war with the Axis powers, and fear mounting that Germany was working on its own uranium bomb, the War Department took a more active interest, and limits on resources for the project were removed.

Brigadier-General Leslie R. Groves, himself an engineer, was now in complete charge of a project to assemble the greatest minds in science and discover how to harness the power of the atom as a means of bringing the war to a decisive end. The Manhattan Project (so-called because of where the research began) would wind its way through many locations during the early period of theoretical exploration, most importantly, the University of Chicago, where Enrico Fermi successfully set off the first fission chain reaction. But the Project took final form in the desert of New Mexico, where, in 1943, Robert J. Oppenheimer began directing Project Y at a laboratory at Los Alamos, along with such minds as Hans Bethe, Edward Teller, and Fermi. Here theory and practice came together, as the problems of achieving critical mass-a nuclear explosion-and the construction of a deliverable bomb were worked out.

Finally, on the morning of July 16, in the New Mexico desert 120 miles south of Santa Fe, the first atomic bomb was detonated. The scientists and a few dignitaries had removed themselves 10,000 yards away to observe as the first mushroom cloud of searing light stretched 40,000 feet into the air and generated the destructive power of 15,000 to 20,000 tons of TNT. The tower on which the bomb sat when detonated was vaporized.

The question now became-on whom was the bomb to be dropped? Germany was the original target, but the Germans had already surrendered. The only belligerent remaining was Japan.

A footnote: The original $6,000 budget for the Manhattan Project finally ballooned to a total cost of $2 billion.

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July 8, 1951

Paris celebrates 2,000th birthday

On this day in 1951, Paris, the capital city of France, celebrates turning 2,000 years old. In fact, a few more candles would’ve technically been required on the birthday cake, as the City of Lights was most likely founded around 250 B.C.

The history of Paris can be traced back to a Gallic tribe known as the Parisii, who sometime around 250 B.C. settled an island (known today as Ile de la Cite) in the Seine River, which runs through present-day Paris. By 52 B.C., Julius Caesar and the Romans had taken over the area, which eventually became Christianized and known as Lutetia, Latin for “midwater dwelling.” The settlement later spread to both the left and right banks of the Seine and the name Lutetia was replaced with “Paris.” In 987 A.D., Paris became the capital of France. As the city grew, the Left Bank earned a reputation as the intellectual district while the Right Bank became known for business.

During the French Renaissance period, from the late 15th century to the early 17th century, Paris became a center of art, architecture and science. In the mid-1800s, Napoleon III hired civic planner Georges-Eugene Hausmann to modernize Paris. Hausmann’s designs gave the city wide, tree-lined boulevards, large public parks, a new sewer system and other public works projects. The city continued to develop as an important hub for the arts and culture. In the 1860s, an artistic movement known as French Impression emerged, featuring the work of a group of Paris-based artists that included Claude Monet and Pierre-Auguste Renoir.

Today, Paris is home to some 2 million residents, with an additional 10 million people living in the surrounding metropolitan area. The city retains its reputation as a center for food, fashion, commerce and culture. Paris also continues to be one of the world’s most popular tourist destinations, renowned for such sights as the Eiffel Tower (built in 1889 to commemorate the 100th anniversary of the French Revolution), the Arc de Triomphe, the Champs-Elysees, Notre Dame Cathedral (built in 1163), Luxembourg Gardens and the Louvre Museum, home to Leonardo da Vinci’s painting “Mona Lisa.”

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June 10, 1752

Franklin flies kite during thunderstorm

On this day in 1752, Benjamin Franklin flies a kite during a thunderstorm and collects a charge in a Leyden jar when the kite is struck by lightning, enabling him to demonstrate the electrical nature of lightning. Franklin became interested in electricity in the mid-1740s, a time when much was still unknown on the topic, and spent almost a decade conducting electrical experiments. He coined a number of terms used today, including battery, conductor and electrician. He also invented the lightning rod, used to protect buildings and ships.

Franklin was born on January 17, 1706, in Boston, to a candle and soap maker named Josiah Franklin, who fathered 17 children, and his wife Abiah Folger. Franklin’s formal education ended at age 10 and he went to work as an apprentice to his brother James, a printer. In 1723, following a dispute with his brother, Franklin left Boston and ended up in Philadelphia, where he found work as a printer. Following a brief stint as a printer in London, Franklin returned to Philadelphia and became a successful businessman, whose publishing ventures included the Pennsylvania Gazette and Poor Richard’s Almanack, a collection of homespun proverbs advocating hard work and honesty in order to get ahead. The almanac, which Franklin first published in 1733 under the pen name Richard Saunders, included such wisdom as: “Early to bed, early to rise, makes a man healthy, wealthy and wise.” Whether or not Franklin followed this advice in his own life, he came to represent the classic American overachiever. In addition to his accomplishments in business and science, he is noted for his numerous civic contributions. Among other things, he developed a library, insurance company, city hospital and academy in Philadelphia that would later become the University of Pennsylvania.

Most significantly, Franklin was one of the founding fathers of the United States and had a career as a statesman that spanned four decades. He served as a legislator in Pennsylvania as well as a diplomat in England and France. He is the only politician to have signed all four documents fundamental to the creation of the U.S.: the Declaration of Independence (1776), the Treaty of Alliance with France (1778), the Treaty of Paris (1783), which established peace with Great Britain, and the U.S. Constitution (1787).

Franklin died at age 84 on April 17, 1790, in Philadelphia. He remains one of the leading figures in U.S. history.

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It was a breaking news on CNN (Date: July 22, 2002: 10:35 AM).

WorldCom files largest bankruptcy ever

WorldCom, the United states’s No. 2 long-distance phone company, filed bankruptcy , nearly one month after it revealed that it had improperly booked $3.8 billion in expenses.

History:

Long Distance Discount Services, Inc. (LDDS) began in Clinton, Mississippi in 1983.In 1985 LDDS selected Bernard Ebbers to be its CEO. The company went public in August 1989 when it merged with Advantage Companies Inc.
The company name was changed to LDDS WorldCom in 1995, and later just WorldCom.The company’s growth under WorldCom was fueled primarily through acquisitions during the 1990s and reached its apex with the acquisition of MCI in 1998. Among the companies that were bought or merged with WorldCom were Advanced Communications Corp. (1992), Metromedia Communication Corp.(1993), Reurgens Communications Group(1993), IDB Communications Group, Inc (1994), Williams Technology Group, Inc. (1995), MFS Communications Company (1996).

The acquisition of MFS included UUNet Technologies, Inc., which had been acquired by MFS shortly before the merger with WorldCom. In February 1998, a complex transaction saw WorldCom purchase online pioneer CompuServe from its parent company H&R Block. WorldCom then retained the CompuServe Network Services Division, sold its online service to America Online, and received AOL’s network division, ANS. The acquisition of Digex (DIGX) in June 2001 was also complex; Worldcom acquired Digex’s corporate parent, Intermedia Communications, and then sold all of Intermedia’s non-Digex assets to Allegiance Telecom.

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Barings Bank was founded in 1762 as the ‘John and Francis Baring Company’ by Sir Francis Baring. In 1806 his son Alexander Baring joined the firm and they renamed it Baring Brothers & Co., merging it with the London offices of Hope & Co., where Alexander worked with Henry Hope. Barings had a long and storied history. In 1802, it helped finance the Louisiana Purchase, despite the fact that Britain was at war with France, and the sale had the effect of financing Napoleon’s war effort. Technically the United States did not purchase Louisiana from Napoleon. Louisiana was purchased from the Baring brothers and Hope & Co.. The payment for the purchase was made in US bonds, which Napoleon sold to Barings at a discount of 87 1/2 per each $100. As a result, Napoleon received only $8,831,250 in cash for Louisiana. Alexander Baring, working for Hope & Co., conferred with the French Director of the Public Treasury François Barbé-Marbois in Paris, went to the United States to pick up the bonds and took them to France.

Later daring efforts in underwriting got the firm into serious trouble through overexposure to Argentine and Uruguayan debt, and the bank had to be rescued by a consortium organized by the governor of the Bank of England, William Lidderdale, in the Panic of 1890. While recovery from this incident was swift, it destroyed the company’s former bravado.

Its new, restrained manner made it a more appropriate representative of the British establishment, and the company established ties with King George V, beginning a close relationship with the British monarchy that would endure until Barings’ collapse (Diana, Princess of Wales was the great granddaughter of one of the Barings family). The descendants of the original five male branches of the Baring family were all appointed to the peerage with the titles Baron Revelstoke, Earl of Northbrook, Baron Ashburton, Baron Howick of Glendale and Earl of Cromer. The company’s restraint during this period would cost it its preeminence in the world of finance, but would later pay dividends when its refusal to take a chance on financing Germany’s recovery from World War I saved it the painful losses experienced by other British banks at the onset of the Great Depression.

Events leading to Barings Bank’s collapse

Nick grew up in London’s Watford suburb, and worked for Morgan Stanley after graduating university.

Shortly after, Lesson joined Barings and was transferred to Jakarta, Indonesia to sort through back-office mess involving £100 million of share certificates. Nick Lesson enhanced his reputation within Barings when he successfully rectified the situation in 10 months.

In 1992, after his initial success, Nick Lesson was transferred to Barings Securities in Singapore and was promoted to general manager, with the authority to hire traders and back office staff. Lesson’s experience with trading was limited, but he took an exam that qualified him to trade on the Singapore Mercantile Exchange (SIMEX) alongside his traders.
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• Today’s History:
• U.S. takes possession of Alaska
• Worldcom scandal

1. Give your lover a dozen roses — and do it with a creative twist. Give eleven red roses and one white rose. Attach a note that reads: “In every bunch there’s one who stands out — and you are that one.”
2. Fake a power outage at home. (Loosen the fuses or throw the breaker switches.) With no TV to tempt you . . . with no computer to occupy you . . . with no furnace to heat you . . . you pretty much have no choice but to get out the candles, huddle around the fireplace and be romantic!
3. Get your partner a wristwatch. Inscribe it with: “I always have time for you.”
4. Attach a $100 bill to a Victoria’s Secret catalog, along with a note to him saying, “You choose.”
5. Identify that one pivotal event that brought the two of you together. Celebrate that event every year.
6. Practice even-day/odd-day romance: On even days it’s your turn to be romantic, and on odd days it’s your partner’s turn.
7. Following a bubble bath you’ve prepared for her, wrap her in a towel that you’ve warmed up in the dryer
8. Write your partner a love letter or poem on one sheet of paper. Glue it to thin cardboard, cut it up into puzzle-shaped pieces, then mail all the pieces. Or, mail one puzzle piece per day!
9. Remove all the paper strips (that say “Kisses” on them) from a couple hundred Hershey’s Kisses. Fill a jewelry box with them. Wrap ‘em up and present them to your partner. Write a certificate explaining that the slips are coupons redeemable for one kiss each.
10. Doesn’t your partner deserve a trophy for being the “World’s Best Lover”? Trophy shops have a wealth of ideas waiting for you. Just think of the romantic possibilities of plaques, medals, ribbons, nameplates, certificates and banners. And they all can be personalized, engraved, lettered or monogrammed.

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