Ellis Island in New York closes after serving as the gateway for 12 million immigrants from 1892 to 1924. From 1924 to 1954 it was mostly used as a detention and deportation center for undocumented immigrants – 1954
“Chainsaw Al” Dunlap announces he is restructuring the Sunbeam Corp. and lays off 6,000 workers—half the workforce. Sunbeam later nearly collapsed after a series of scandals under Dunlap’s leadership that cost investors billions of dollars – 1996
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