Extrait de: http://financialservicesinc.ubs.com/staticfiles/faw/adobe/all/cashin_comments.pdf
(en date du 5 novembre- le fichier ne sera plus là demain)
Mais voici le brevet discuté ci-dessous:https://www.google.com/patents/US549160
1. The combination with a road-locomotive, provided with
suitable running gear including a propelling wheel and steering
mechanism, of a liquid hydrocarbon gas-engine of the compression
type, comprising one or more power cylinders, a suitable
liquid-fuel receptacle, a power shaft connected with and arranged
to run faster than the propelling wheel, an intermediate clutch or
disconnecting device and a suitable carriage body adapted to the
conveyance of persons or goods, substantially as
Extrait de l’article d’Art Cashin:
An Encore Presentation
On this day in 1895, a patent was issued to George B. Selden. It
was the kind of patent mere mortals could only dream of. It ranked
at or above those granted for the telephone or the electric light.
What was it that Selden had invented that was so great – – it was
the automobile – – only Selden didn’t invent it.
Selden was a clever chap who had noticed the products being
produced by the Duryea Brothers and Ransom Olds, in the preceding
two decades. He had even read of the work of Karl Benz in
Since he was a patent attorney, he devised a broad based patent to
cover all future automobiles. As the 1900’s began, autos began to
sell. Selden grabbed some Wall Street buddies and began to sue the
early producers. Each one caved and Selden’s Association of
Licensed Automobile Manufacturers began to get a royalty from
In 1903, a guy named Henry Ford applied for membership. Hoping to
up the ante, they turned Ford down. Ford (my hero – – he once said
the role of your body is to carry your brain around) choose to keep
making cars. For six years, they fought in Federal Court. Then a
judge said Selden’s patent was valid. The effect was electric.
Everybody, including GM, decided to pay. Selden and the Wall Street
types, sensing billions, magnanimously offered to let Mr. Ford pay
at the old rate.
Ford told them where to place their offer and took them to Appeals
Court, claiming the patent was too broad and counterclaiming they
owned him and other damages. Two years later a judge with a sense
of humor and a way with words held that Ford was right. Knowing
when to cut and run (and save damages), the Selden/Wall Street
Crowd puppied up. The automobile business was wide open and Ford
became a multi-billionaire.
To celebrate pull in to the Pierce Arrow Drive-In Tavern and
winterize with as much anti-freeze as you like. But don’t put both
feet on the running board.