This Day in Financial History

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1938 - After a protracted war with the new U.S. Securities and Exchange Commission, the New York Stock Exchange finally recommends an internal reorganization that will install a board of governors, a salaried independent president and a specialized administrative staff. Previously, the Exchange had functioned like a private gentleman's club, with conduct enforced mainly by unspoken codes of honor and a pro-bono president chosen from among his fellow brokers. Source: www.jasonzweig.com

1985 - On this day, the Cold War couldn’t stop one of the stalwarts of capitalism, Coca-Cola, from setting up shop behind the iron curtain. On January 27, 1985, Coke announced plans to sell its all-American soft drinks in the Soviet Union. With the move, Coke belatedly matched Pepsico, who, twelve years earlier, had begun distributing its colas in the U.S.S.R. Source: www.history.com