1878day.year
The Edison Electric Light Company begins operation.
In 1878, the Edison Electric Light Company began operations, marking the dawn of commercial electric lighting.
Founded by Thomas Edison, the Edison Electric Light Company commenced operations on October 15, 1878. The company played a crucial role in developing and selling the Edison light bulb and the necessary electrical systems. Its formation marked the transition of electric lighting from experimental demonstrations to practical commercial use. By building power stations and distribution networks, it laid the groundwork for modern electrical utilities. This milestone accelerated the spread of electricity in homes and businesses, transforming daily life and industry.
1878
Edison Electric Light Company
1923day.year
The German Rentenmark is introduced in Germany to counter hyperinflation in the Weimar Republic.
In 1923, the German Rentenmark was introduced to stabilize the Weimar Republic's economy amid runaway hyperinflation.
Amid crippling hyperinflation in the Weimar Republic, the German government replaced the worthless Papiermark with the Rentenmark on October 15, 1923. Backed by land and industrial assets rather than gold, the new currency restored confidence in the economy. Its introduction halted soaring price levels and allowed businesses and citizens to plan for the future. The Rentenmark's success laid the foundation for the Reichsmark, which would replace it in 1924. This currency reform was a critical step toward economic recovery and political stability in postwar Germany. It showcased the power of monetary policy in taming runaway inflation and rebuilding a nation.
1923
German Rentenmark
hyperinflation in the Weimar Republic
1932day.year
Tata Airlines (later to become Air India) makes its first flight.
In 1932, Tata Airlines, the predecessor of Air India, made its inaugural flight, marking India's entry into commercial aviation.
On October 15, 1932, J.R.D. Tata piloted the first flight of Tata Airlines, carrying mail and service personnel between Karachi and Bombay. Established by industrialist Jamsetji Tata, the airline was India's first scheduled air service. This milestone laid the foundation for what would become Air India, the nation's flagship carrier. Operating initially with a de Havilland Puss Moth biplane, the service expanded rapidly, connecting major cities across India. Tata Airlines' launch represented a significant step in India's transport and industrial modernization. It also highlighted the growing global importance of air travel in the early 20th century.
1932
Air India
2008day.year
The Dow Jones Industrial Average closes down 733.08 points, or 7.87%, the second worst percentage drop in the Dow's history.
The Dow Jones Industrial Average plunges 7.87%, marking its second-largest percentage drop ever.
On October 15, 2008, in the midst of the global financial crisis, the Dow Jones Industrial Average experienced a dramatic decline of 733.08 points, equivalent to a 7.87% drop—the second-largest percentage fall in its history. Triggered by fears over a deepening credit crunch, collapsing financial institutions, and worsening economic indicators, investors engaged in widespread sell-offs. This stock market turmoil reflected growing concerns about the stability of global markets and the effectiveness of government rescue measures. The plunge intensified discussions on regulatory reform, bank bailouts, and monetary policy interventions. The event underscored the volatility of financial markets during systemic crises and remains a stark reminder of the Great Recession’s impact.
2008
Dow Jones Industrial Average
second worst percentage drop