A book series of biblical proportions
J.K. Rowling’s Harry Potter and the Philosopher’s Stone was first released in the United Kingdom on June 30, 1997. More commonly known as Harry Potter and the Sorcerer’s Stone because of a title change on its American release, the young-adult fantasy novel would set the stage for the most popular book series in history. The seventh book, Harry Potter and the Deathly Hallows, was released in 2007, and like all previous books, it was also made into a blockbuster movie.
J.K. Rowling became the world’s first billionaire author as a result of Harry Potter’s astounding success — it is estimated that the series sold more than 450 million combined copies, and the film series’ eight installments earned more than $7.7 billion at the worldwide box office for distributor Time Warner Inc (NYSE:TWX). All told, the Harry Potter brand is estimated to have generated at least $25 billion in global sales (and possibly much more) since its creation, which is way more money than you can wave a magic wand at.
American muscle for the modern era
The first Chevrolet Corvette rolled off a General Motors Company (NYSE:GM) assembly line on June 30, 1953. This early model was the first car to ever be made with an all-fiberglass body, but it wasn’t part of a big production run — only 300 ‘Vettes were built in 1953. All of them came in white, with red interiors and black convertible tops, and General Motors Company (NYSE:GM) sold them for $3,500 apiece — equal to about $31,000 today.
The first-year ‘Vette wasn’t worthy of being called a sports car, though, as it ran on an underpowered six-cylinder truck engine controlled by a two-speed automatic. It wasn’t until General Motors Company (NYSE:GM) dropped a small-block V-8 under the hood that sales began to pick up, as the underpowered little fiberglass car was molded into a beastly performance machine, with design cues to match. The purpose-built ‘Vettes began to compete with major sports cars from Europe and England, winning over the American car-buying public. Shortly after its 39th anniversary, the millionth Corvette rolled off its assembly line, leaving little doubt that the venerable model was both enduringly popular with the public and strongly supported by General Motors Company (NYSE:GM)’s top brass. Today’s top-of-the-line ‘Vettes can compete with the most muscular (legal) cars on the road, but they’re not likely to set you back by as much as any competing car.
The article Muscle Cars and Electric Power: A Day of American Firsts originally appeared on Fool.com is written by 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 recommends General Motors and Vodafone.
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