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The company was created as a result of what Jeff Bezos called his "regret minimization framework", which described his efforts to fend off any regrets for participating sooner in the Internet business boom during that time.[1] In 1994, Bezos left his employment as vice-president of D. E. Shaw & Co., a Wall Street firm, and moved to Seattle, Washington, where he began to work on a business plan[6] for what would become Amazon.com.
On July 5, 1994, Bezos initially incorporated the company with the name Cadabra, Inc.After a few months, he changed the name to Amazon.com, Inc, because a lawyer misheard its original name as "cadaver".Bezos selected this name by looking through a dictionary; he settled on "Amazon" because it was a place that was "exotic and different", just as he had envisioned for his Internet enterprise. The Amazon River, he noted, was the biggest river in the world, and he planned to make his store the biggest bookstore in the world.Additionally, a name that began with "A" was preferred because it would probably be at the top of an alphabetized list.Bezos placed a premium on his head start in building a brand and told a reporter, "There's nothing about our model that can't be copied over time.
But you know, McDonald's got copied. And it's still built a huge, multibillion-dollar company. A lot of it comes down to the brand name. Brand names are more important online than they are in the physical world."
In its early days, the company was operated out of the garage of Bezos's house on Northeast 28th Street in Bellevue, Washington.
In 1860, Henry Varnum Poor formed Poor's Publishing, which published an investor's guide to the railroad industry.
In 1923, Standard Statistics Company (founded in 1906 as the Standard Statistics Bureau) began rating mortgage bonds[18] and developed its first stock market index consisting of the stocks of 233 U.S. companies, computed weekly.
In 1926, it developed a 90-stock index, computed daily.
In 1941, Poor's Publishing merged with Standard Statistics Company to form Standard & Poor's.[
On Monday, March 4, 1957, the index was expanded to its current 500 companies and was renamed the S&P 500 Stock Composite Index.[1]
In 1962, Ultronic Systems became the compiler of the S&P indices including the S&P 500 Stock Composite Index, the 425 Stock Industrial Index, the 50 Stock Utility Index, and the 25 Stock Rail Index.
On August 31, 1976, The Vanguard Group offered the first mutual fund to retail investors that tracked the index.
On April 21, 1982, the Chicago Mercantile Exchange began trading futures based on the index.
On July 1, 1983, Chicago Board Opons Exchange began trading options based on the index.
Beginning in 1986, the index value was updated every 15 seconds, or 1,559 times per trading day, with price updates disseminated by Reuters.
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On January 22, 1993, the Standard & Poor's Depositary Receipts exchange-traded fund issued by State Street Corporation began trading.[1]
On September 9, 1997, CME Group introduced the S&P E-mini futures contract.
In 2005, the index transitioned to a public float-adjusted capitalization-weighting.
Friday, September 17, 2021, final trading date for the original SP big contract which began trading in 1982.
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