A Historical Perspective Some of the most innovative ideas have emerged during times of economic duress.

A Historical Perspective
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The Great Depression
1930: 3M pours profits into R&D, yielding Scotch tape.
1931: Sears Roebucks notes automobile's popularity and creates Allstate auto insurance subsidiary.
1932: Revlon launches with long-lasting nail polish.
1933: Miracle Whip is born.
1934: Campbell's Cream of Mushroom and Chicken Noodle soups are introduced.
1938: GE introduces fluorescent light bulb, which has twice the lifespan of incandescent but uses half the power.
1939: Bill Hewlett and Dave Packard establish Hewlett-Packard.

Eisenhower Recessions
1954: Texas Instruments introduces transistor radio.
1955: The first McDonald's (owned by Ray Kroc) opens.
1958: Hello, Hula Hoop.
1960: Medtronic purchases the rights to produce an implantable pacemaker.
1961: Procter & Gamble tests Pampers disposable diapers.