American Decades

Important Events in Business and the Economy, 1990–1999

On January 1, 60 percent of U.S. women with children under age 6 work outside the home.
On January 1, unions represented only 16 percent of 101 million U.S. workers.
On January 2, the Dow Jones Industrial Average reaches a record high, closing at 2800.15.
On January 10, Warner Communications and Time Inc. complete a $14.1 billion merger, establishing the world's largest media conglomerate.
On January 31, McDonald's Corporation opens its first fast-food restaurant in Pushkin Square, Moscow.
On February 13, Drexel Burnham Lambert declares bankruptcy in the largest securities company failure ever.
In April, Congress raises the minimum wage to $3.80 per hour.
On April 18, bankruptcy court forces Frank Lorenzo, who earned notoriety for slashing jobs, pay and benefits throughout the airline industry, to leave Eastern Airlines.
On May 23, reports indicate...

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