Page 7 - Business Facts

The Human Genome Project showed excellent return on investment. It generated $141 for the economy for every $1 spent!

The Human Genome Project is an international public project led by the United States. The sequencing of the human genome was considered the single largest undertaking in the history of biological science, but it only took 13 years to sequence human DNA under the Human Genome Project, which is an enormous achievement.

Of course, determining the complete sequence of the 3 billion DNA base pairs and identifying each human gene was going to require immense resources. New technology had to be developed and an interdisciplinary team of biologists had to be assembled. There was also a need for physicists, chemists, computer scientists, engineers and mathematicians.

The knowledge gained from the HGP is now invaluable in developing medicines that can prevent and treat human disease, but it also made it possible to diagnose these diseased at a very early stage. Since the first sequences were published, a lot has been said about the scientific consequences of mapping the human genome, but not so much about the economic consequences. What effect did it have on the economy?

Between 1998 and 2010 the HGP directly and indirectly generated $796 billion in US economic output! It has generated $244 billion in personal income for Americans and has created an astonishing 3.8 million job years of employment.


Ikea stores are designed like a maze for this sinister purpose.

IKEA stores are designed like a maze in order to prevent customers from leaving.

The theory behind the design is: The longer a customer is inside the store and the more furniture they see, the more items they are inclined to buy.

This layout is so confusing that oftentimes shoppers make purchases simply because they are afraid they may never find their way back to the item!

A study at a store location in Kent, England showed that patrons spent an average of 3 hours inside the store, with a significant number remaining for as long a 8 hours!

IKEA is quick to deny any intention to purposely bewilder it's customers, citing shortcuts within the facility (built primarily due to fire code), but the store's exits still are not very easy to find.

'The Hobbit' is one book, but the movie cost twice as much to produce as 'Lord of the Rings.' Why?

'The Hobbit' trilogy has cost twice as much to produce than the 'Lord of the Rings' trilogy, which is astonishing if one considers all the elaborate armor, special effects, and prosthetics that went into the first trilogy!

By the end of March 2013, the price tag on 'The Hobbit' had already reached the $561 million mark, and that did not yet include the two months of filming which still continued after that date, or the pick-ups that were still to follow!

Some of the extra expenses could be blamed on inflation, but it is more likely that the decision to shoot all three films at 48 frames per seconds using 3D cameras was the major reason for the extreme cost of production.

Being made into a trilogy rather than a standalone film undoubtedly added to the costs. Tolkien fans were surprised to learn that the film would be stretched over three movies, considering the book is a rather slim volume and the adventures of Bilbo Baggins are not quite as epic as Frodo having to face great adversity in his journey through Middle Earrth to throw the One Ring into Mount Doom.

The film 'Return of the King' was the most successful Tolkien movie so far and grossed more than 'The Hobbit: An Unexpected Journey,' making back more than ten times its budget. Whether the film about Bilbo Baggins and his adventures will ever come close to the box office success of 'Lord of the Rings' remains to be seen.


Some awesome lists!

This popular company was founded over 400 years ago in the Ottoman Empire, and it's still going strong!

The Avedis Zildjian Company is now known by the much simpler name Zildjian. Today, it's an American company, but it got its start in the Ottoman Empire almost four centuries ago. Zildjian was founded in Istanbul, Turkey, by an Armenian named Avedis Zildjian.

Zildjian was an alchemist by profession. As with all alchemists, he labored away in vain trying to turn base metals into gold. Along the way, though, he did manage to come up with something of value. Zildjian was responsible for creating an alloy of tin, copper, and silver. He found that the alloy was capable of making musical sounds without breaking.

And so his legacy was launched in 1623 with the beginnings of an industry. It became a family tradition that only the company's heirs knew the exact process behind the manufacture of Zildjian cymbals.

Later, in the 19th century, Zildjian manufactured cymbals as musical instruments for the Ottoman Empire. Then, around 1928, Avedis III, his brother Puzant, and their uncle opened for business in Quincy, MA. They made many innovations and actually competed with their counterpart Zildjian company in Turkey.

Any company that's been around for over 400 years must be doing something right.


The Hard Rock Cafe is owned by the Seminole Tribe of Florida!

The first Hard Rock Cafe opened June 1971 in London, England. The first restauran had eclectic decor, but it eventually started displaying memorabilia.

The HRC eventually started expanding in 1982, adding locations in places like Toronto, LA, Chicago, Paris and Berlin.

In March 2007, the Seminole Tribe of Florida purchased Hard Rock Cafe International Inc. And all related entities for almost $1 billion!

The chain has over 145 restaurants. What's interesting about them is that even with such a high number of restaurants, they do not franchise them in the US.

Learn more about this fascinating chain at the source!



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