This year we aim to provide information as to history events within the business world. Starting with some of America’s History for this current week, (2nd February 2015-8th February 2015)
February 1st 1898… Travelers Insurance Company sells its first auto insurance policy 2 years after Henry Ford produced his first four horsepower automobile. The insurance was issued to Dr. Truman Martin of Buffalo, NY, paying $11.25 for $5,000 worth of Liability coverage.
February 3rd 1690… Massachusetts Authorizes the first official paper currency to ever be used in the Western Hemisphere, a crucial step in establishing a stable American Economy.
February 6th 1985… Walter L. Jacobs Founder of the first rental car company died. Walter’s company would eventually become a part of what is known today as the Hertz Corporation. He started off with only a dozen Model T Fords that he personally maintained and repaired. It took 5 years for his business to reach an annual revenue of around $1 Million. Walter sold his business to Mr Hertz and was kept on as their top executive. The Hertz company is the only car rental company to have been a subsidiary of both General Motors Corporation and Ford Motor Company.