- The CD is born. Most often attributed to inventor James Russell, the CD evolved from multiple optical mediums, and was eventually finalized in 1980 when Sony and Philips created the famed “ Red Book ” standard, which was a series of documents that outlined a 120mm diameter disc bearing music at a resolution of 16 bit/44.1kHz.
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The CD is born. Most often attributed to inventor James Russell, the CD evolved from multiple optical mediums, and was eventually finalized in 1980 when Sony and Philips created the famed “Red ...
- Ryan Waniata
Compact disc (CD) is a digital optical disc data storage format that was co-developed by Philips and Sony and released in 1982. The format was originally developed to store and play only digital audio recordings but was later adapted for storage of data ().
The history of the CD - The beginning While experimenting with equipment to record morse signals automatically, the 30-year-old Thomas Alva Edison accidentally discovered in 1877 that he had recorded sounds that resembled a human voice.
The first commercial CD drive was released a month earlier by Sony on 1st of October 1982, making it a notable event in the history of CD development. The CDP-101 Compact Disc Player by Sony hit the market first in Japan, followed by Europe. It did not reach the shores of America until the early part of 1983.
Research showed that CD player owners purchased 16 CDs in the first year of ownership, and around 9 or 10 discs in the following years. By 1989 CD sales had reached a share of 80 per cent of the total audio carriers market, while that of LPs had declined to only 12 per cent. Ten years after
CD-RW discs were initially much more expensive, but their price - like that of CD-R discs - has now fallen dramatically. The combination of CD-R and CD-RW was a deliberate one, because CD was the absolute world standard and the world’s most popular digital audio carrier with a tremendous penetration (even exceeding 100% in the Netherlands).
The History and Legacy of the CD-ROM. If you ask anyone who was a teenager in the 90s and early 2000s what comes to mind when you say CD-ROM, their eyes will light up like the shiny underside of the object you’ve inquired about.
Dec 14, 2004 · A history of the CD numbering system [This section is under development] General breakdown of CD numbers. The information from this section was compiled from The ...
- CD Rates in The 1980s
- CD Rates in The 1990s
- CD Rates in The 2000s
- CD Rates from 2010 to 2020
The U.S. faced two recessions in the early 1980s. That’s when CD yields peaked. On average, 3-month CDs in early May 1981 paid about 18.3 percent APY, according to data from the St. Louis Federal Reserve. “The reason why the interest rates were so high in the ’80s is that we had that runaway inflation,” says Jerry Lynch, a professor of economics at Purdue University. While savers enjoyed higher rates on their certificates of deposit, their spending power took a hit. (Find out how much interest you could earn on a CDthese days.) “With inflation rates being so high, your purchasing power might not actually have been that good because it was being eroded by inflation,” says Ted Beck, former president and CEO of the National Endowment for Financial Education.
Following another short recession in the early 1990s, conditions improved and inflation fell. Overall, the decade was marked by a period of economic bliss. “The Fed didn’t need to run monetary policy as tight,” says Gus Faucher, chief economist of the PNC Financial Services Group. “It’s kind of the flip side of what we saw in the ’70s and ’80s — kind of a low inflation, low interest rate environment.” Rates started to look normal again, with the average 12-month CD yield sinking to 3.1 percent APY in June 1993, according to Bankrate’s national survey. (Find out how today’s rates on CDs and savings accountsstack up.) “Money became less expensive and that brought down CD rates,” Beck says.
In early 2000, the economy started to slow after the dotcom boom began to lose steam. Hoping it would pick up speed, the Fed lowered interest rates. “Money was so cheap,” Lynch says. “The Fed was trying to pump money into the economy to kind of get it going again.” Bankrate data reveals that the average yield on 1-year CDs dipped below 2 percent APY in 2002. In 2009, after the financial crisis, the average 12-month CD paid less than 1 percent APY. Average rates on 5-year CDs were slightly higher (around 2.2 percent APY). Other rates fell, as the central bank brought its key interest rate down to its lowest point possible. “You saw overall rates decline,” Beck says. “If you were to go back to the 1970s or ’80s and say that somebody could get a mortgage rate with a three in front of it, they would’ve laughed at you because that was just unheard of.”
The Federal Reserve’s efforts to stimulate the economy following the Great Recession left many banks flush with cash. Banks held on to their extra funds, so they didn’t have to boost rates on CDsto obtain money for lending. CD yields reached historic lows. In June 2013, average yields on 1-year and 5-year CDs, according to Bankrate data, were 0.24 percent APY and 0.78 percent APY, respectively. Savers benefited from a period of rising rates as the Fed gradually hiked its benchmark interest rate between December 2015 and 2018. Now, a decade after the Great Recession, rates have been headed back down. After making a couple of emergency rate cuts — as a result of the economic downturn fueled by the coronavirus pandemic — the Fed is holding rates near zerountil economic conditions improve. CD investors for now are stuck with low yields and it could be a while before rates go up again.
The cd command, also known as chdir (change directory), is a command-line shell command used to change the current working directory in various operating systems. It can be used in shell scripts and batch files .