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Posts Tagged ‘ATM

“The past is not dead. It is not even past.”*…

 

 zoomable version here

In 1943, as American businesses tried to guess whether wartime relief from the Depression would translate into postwar prosperity, the Tension Envelope Corporation printed this chart for customers. The infographic folded into a pamphlet and could be displayed on the wall when opened. (The online archive of the Federal Reserve, FRASER, has digitized a PDF of the pamphlet, which you can view here.)

The infographic and the explanatory text below it tap data from several sources, including U.S. Treasury reports, the Department of Labor’s Bureau of Labor Statistics, the Survey of Current Business, and the Committee for Economic Development, a nonprofit founded in 1942 to help American business plan for the postwar future. Excerpted text from a Committee for Economic Development publication, “Business Planning Now for V Day,” can be found in the lower left-hand corner of the chart.

In an explanatory section on the federal debt—represented on the chart as a red line that climbs steeply upward beginning in 1941—the chart’s authors articulate a strong stance on what could be an alarming indicator: “The necessary cost of this war is not important. Victory is worth the price. Whatever the cost to the future citizens is, they will get their money’s worth in benefits derived.”…

From the redoubtable Rebecca Onion: “A Comprehensive 1943 Infographic of American Booms and Busts.”

* William Faulkner

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As we reach for the Dramamine, we might recall that it was on this date in 1969 that Chemical Bank installed the first ATM in the U.S. at its branch in Rockville Centre, New York.  In fact, as noted here before, the ATM was imagined (and an early version patented) in 1960 by Luther George Simjian; but a six-month trial of the stand-alone device in 1961 was a failure.  A British version (developed by the banknote company Delarue and deployed by Barclays) debuted in 1967, but required the use of pre-acquired “cheques” for withdrawal.  The Chemical ATM was the first of the breed that is now common: networked machines that communicate with the bank (and its account information) in real time.

 source

 

Written by LW

September 2, 2015 at 1:01 am

“Just because you can, doesn’t mean you should”*…

 

21-fried-candy-corn.w529.h352

“What do we do to things we don’t need/want/like?” Amy Erickson asks on her blog, Oh, Bite It!. “We fry it … that’s what!” In this case, the creator of deep-fried Pumpkin Spice Lattes and, for rougher days, deep-fried tequila shots has put Brach’s famous candy corn inside Pillsbury dough rounds and subjected the whole package to a bath of hot oil. The finished product is dusted with powered sugar, zeppole-style, and allegedly yields “doughy pillows” that are “just a shadow of that seasonal, sad, tooth-buster of a treat.”

In a world in which somebody has already fried every bagged item that comes in a snack size — M&Ms, Tootsie Rolls, Twizzlers — no one can really blame Erickson for daring to dream, but the ultimate end-of-October Frankenfood made Rusty Foster’s Today in Tabs (“Two words: DEEP FRIED CORN CANDY”), and now that’s basically what the internet is doing, pretty unanimously and in repulsion:

May vomit at desk http://t.co/tOiTPj50CL via @rustyk5pic.twitter.com/kPTQ0rDjf

— Kyla Gardner (@gardnerkyla) October 20, 2014

Not everything needs to be fried RT @DarthVenn: Fried candy corn balls.pic.twitter.com/AvNzRUd20Y

— F. Thot Fitzgerald (@DaniFantastic) October 21, 2014

Fried. candy corn. LISTEN, MAYNE. pic.twitter.com/djDdrdQW7B

— Laraine Lujack (@therainebeaux) October 21, 2014

Why did the phrase “deep fried candy corn” just crawl across my timeline? Why is that a thing? What is the matter with people?

— H. G. WellActually (@andthenlynsaid) October 20, 2014

Deep fried? Fine. Candy? Okay. Corn? We’ll allow it. But those four words in THAT order? NAW.

— H. G. WellActually (@andthenlynsaid) October 20, 2014

Well, almost. Some blame is getting spread onto others known to fry a thing or two

:I believe Paula Deen did this. RT @__Huss:  RT @Nerdonic: Satan. “@DarthVenn: Fried candy corn balls. pic.twitter.com/VZJSytXs6u

— Styx (@RenRennyy) October 20, 2014

via Grub Street

* proverbial saying of unknown origin

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As we heat up the oil, we might send fertile birthday greetings to Luther George Simjian; he was born on this date in 1905.  The son of Armenian parents in Turkey, Simjian escaped the genocide and made his way to the U.S., where he worked initially as a lab photographer at Yale Medical School– and began his career as a inventor, creating a projector for microscope images among many other devices.

In 1934 Simjian moved to New York City, where he invented a self-posing portrait camera, with which the photographed person could see and optimize their own image in a mirror before the photo was actually taken. In order to manufacture and distribute the camera, which became a success for use in department stores, he founded the company Photoreflex.  Years later, after selling the invention and the trade name, the company was renamed Reflectone, after another of Simjian’s inventions, a kind of cosmetic chair with movable mirrors, via which one could see one’s own body from all perspectives.

In 1939 Simjian had the idea to build the Bankmatic Automated Teller Machine, probably his most famous invention. Despite skepticism from banks, he registered 20 patents for it and developed a number of features and principles that can still be found in today’s ATMs– including their name.  He finally persuaded the City Bank of New York (today Citibank) to run a 6-month trial. The trial was discontinued — surprisingly not due to technical inefficiencies, but to lack of demand.  “It seems the only people using the machines were a small number of prostitutes and gamblers who didn’t want to deal with tellers face to face,” Simjian wrote.  Hence Simjian missed out on not only the commercial success, but also the fame associated with inventing the ATM.  (This credit is often attributed to John Shepherd-Barron, who invented the first true electronic ATM, and Donald Wetzel, who directed a 5 million US-$ project to build upon Shepherd-Barron’s invention in the late 1960s.)

Simjian achieved real commercial success during World War II with another invention, his Optical Range Estimation Trainer, a kind of simple flight simulator, made from mirrors, light sources and miniature airplanes, used to train US military pilots in estimating the speed and distance of airplanes; Simjian sold over 2000 of these devices.  Today’s successor of Reflectone (after a number of mergers and acquisitions), CAE, is still selling flight simulation and control technology.

Simjian founded several other companies in the following years and invented a number of very different devices and technologies,including a teleprompter, medical ultrasound devices, a remote-controlled postage meter, a golf simulator, and a meat tenderizer.  He never stopped inventing in his laboratories in Fort Lauderdale.  At the age of 92, he got his last patent on a process for improving the sound of wood for musical instruments– seven months before his death in 1997.

 source

 

Written by LW

January 28, 2015 at 1:01 am

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