In 1957, three Chicago aluminum awning salesmen decided to quit the jobs and sail to Africa to join in on the lucrative illegal diamond trade. They were in for a wild ride along with a very big surprise waiting for them at the end.Continue Reading
When Frank Ulrich opened the first successful self-service gasoline station in Los Angeles back in 1947, he probably couldn’t imagine the uproar that it would cause. By eliminating the high cost of paying attendants to fill your tank, he was able to pass the savings on to his customers. His slogan was “Save five cents, serve yourself. Why pay more?” With a gallon of gas costing less than 20-cents in 1947, saving a nickel was a big deal.
Word of his success began to spread across the country and soon others began to copy Ulrich’s model. One of these men was Irving Reingold. He opened a 24-pump self-service station on Route 17 in Hackensack, New Jersey. Everyone else was selling gas at an agreed upon 21.8-cents per gallon, while Reingold was able to undercut them at 18.9-cents.
Soon cars were lining up for cheaper gas, but the other dealers were very unhappy with the competition. Using the pretext of fire safety, the New Jersey Gasoline Retailers Association convinced the state legislature to ban self-service gasoline stations, a law that is still on the books today.