On February 12th in US History
Part IV
Part IV
On February 12th in 1733 - English colonists led by James Oglethorpe founded Savannah, Ga. Gen. James Edward Oglethorpe sailed up the Savannah River with 144 English men, women and children and in the name of King George II chartered the Georgia Crown Colony. He created the town of Savannah, to establish an ideal colony where silk and wine would be produced, based on a grid of streets around six large squares.
On February 12th in 2008 - General Motors Corp. reported a $38.7 billion loss for 2007, the largest annual loss ever for an automotive company, and said it is making a new round of buyout offers to US hourly workers in hopes of replacing some of them with lower-paid help.
On February 12th in 2012 - A US Senate security panel approved President Barack Obama's nomination of Chuck Hagel for the post of defense secretary. Now Hagel must get the approval of the full Senate, after the Armed Services Committee voted 14-11 in his favor to succeed Defense Secretary Leon Panetta. The 66-year-old former Senator from Nebraska is a recipient of two Purple Hearts in the Vietnam War. If approved by the Senate, Hagel who would become the first former enlisted combat soldier to take the post.
On February 12th in 2012 - The G7 nations said in a special statement they will not be drawn into global currency wars. “We reaffirm that our fiscal and monetary policies have been and will remain oriented towards meeting our respective domestic objectives using domestic instruments, and that we will not target exchange rates,” the statement said. Japanese Finance Minister Taro Aso welcomed the statement, saying that Japan’s choice to double its inflation target does not aim at affecting foreign exchange markets. The G7 encompasses the US, Britain, France, Germany, Japan, Canada and Italy.
On February 12th in 2014 - Intel entrepreneur and cofounder of the X-PRIZE Foundation, Peter Diamandis, claims that 50% of US jobs are under threat of being mechanized within 10 years
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