Meyer Parnes 1911 - 1996
Meyer Parnes' Biography
Introduction
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Meyer Parnes
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1911 - 1996 World Events
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In 1911, in the year that Meyer Parnes was born, the first Indianapolis 500 was run in May. Ray Harroun was the winner - he was an engineer and had retired from racing but he came back for this race. After the race, he retired for good. The purse was $27,550 - the largest offered up to that time - and Harroun received $10,000 for first place. His average time was 74.602 mph.
In 1927, when he was 16 years old, in September, the Columbia Broadcasting System (later called CBS) became the second national radio network in the U.S. The first broadcast was a presentation by the Howard Barlow Orchestra from radio station WOR in Newark, New Jersey.
In 1934, Meyer was 23 years old when on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.
In 1974, by the time he was 63 years old, on August 9th, Gerald R. Ford became the 38th President of the United States. He had been Vice President for 8 months when he became President due to the resignation of President Nixon.
In 1996, in the year of Meyer Parnes's passing, on April 3rd, Theodore Kaczynski (nicknamed the Unabomber) was arrested. His mailed or hand-delivered bombs, sent between 1978 and 1995, killed three people and injured 23 others. Diagnosed as suffering from paranoid schizophrenia, Kaczynski is serving 8 life sentences without the possibility of parole.
