The Real Story of JPMorgan Chase & Co. (JPM)

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This pound feels a bit lighter
On Feb. 24, 1985, the British pound fell to a record low of just $1.05 against the U.S. dollar. It was the lowest the pound had ever been in modern history, but the sharp decline that had begun at the tail end of 1980 was soon over. Americans who enjoyed cheap real estate, cheap goods, and a generally cheaper life in the British Isles soon felt their purchasing power lighten as the Bank of England’s double-digit interest rates finally began to work. Within three years, the pound returned to its traditional value of between $1.60 and $1.80 against the dollar, which is where it has largely remained (with a few jumps toward a $2 exchange rate) ever since.

Healthy gums and healthy profits
The first commercial use of nylon occurred on Feb. 24, 1938, when Doctor West’s Miracle-Tuft toothbrushes went on sale. This was a pretty big deal at the time — before these toothbrushes were developed, people were forced to use hog-bristle brushes for their pearly (piggy?) whites. The toothbrushes, advertised as the hygienic choice during World War II, helped ensure the popularity of both plastic-derived toothbrushes and nylon itself, which had been developed only three years earlier by a E I Du Pont De Nemours And Co (NYSE:DD) researcher.

Today, roughly 4.2 billion people in the world own a toothbrush, which may be the standard stick-and-bristles style that was common from the beginning or one of a wide variety of electric brushes. Nearly all are made from synthetic fibers, but this is only one of many possible uses for nylon, which is now one of the world’s most common artificial fibers.

The article The Real Story of JPMorgan Chase originally appeared on Fool.com and is written by Rick Alex Planes.

Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more insight into markets, history, and technology. The Motley Fool owns shares of JPMorgan Chase & Co (NYSE:JPM).

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