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Once in America, Anastasios continued his instrument trade. He quickly assimilated the pace of American business practices. He filed his first and only patent March 25, for an Italian style bowl back mandolin. Anastasios's instruments now carried labels in English:.
Epi, as the oldest child was known, easily merged into American life, attended Columbia University, and graduated with honors. With Anastasios crafting and selling his instruments on the ground floor and family living upstairs, the line between work and home life became increasingly blurred. Epi and Orpheus 'Orphie' were soon helping out in the shop, now located at West 42nd Street.
Epi was only 22 when his father Anastasios died. As the oldest son, Epi was charged with keeping the business going. Already a keen student of his father's work and eager to establish himself in the marketplace, Epi replaced the old instrument label of his father's with a new one: "The House of Stathopoulo, Quality Instruments Since At his mother's death in , Epi assumed ownership of the controlling shares of the business and phased out most of the old world style mandolins. Instead, he introduced the Recording line of banjos, then the most popular instrument in post-World War I America. Epi continued to expand as his business and reputation for quality work grew.
The family acquired the "stock, goodwill, and modern machinery" of the Farovan Company instrument plant in Long Island and incorporated. Epi gave the now growing business a new name-- Epiphone. It was also an echo of the Greek word epiphonous , meaning one sound on another, the son building on the dreams of the father.
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Epi took the title of president and general manager and announced in trade publications and advertisements that "the new policy of business and all interest will be devoted to the production of banjos, tenor banjos, banjo mandolins, banjo guitars, and banjo ukuleles under the registered trademark name of 'Epiphone. Epi retained most of the Long Island factory's skilled workers. Production increased. Quality improved. Business was good and the Stathopoulo brothers, with Orphie now serving as Vice President, moved the company to West 47th Street.
In , Epiphone also introduced their first line of acoustic guitars to compete with the company that Epi determined was Epiphone's greatest rival, Gibson. The Recording series of acoustic guitars, like the banjo line, were each identified by a letter 'A' through 'E' and were notable for their unusual body shape. The instruments combined spruce and laminated maple and were available as an archtop or flattop. The Recording guitars were not initially a success. One problem was a lack of celebrity endorsement. The other was a lack of volume. The Recording guitars were too small and arguably too ornate, particularly in comparison to the size and volume of Gibson's popular L-5, which was introduced in and had quickly become an industry standard.
The L-5 had projection, tone, and complimented rhythm sections with a tuneful timbre and snare drum like attack. Though banjo sales remained steady immediately after the stock market crash of , Epi was keenly aware that archtop guitars were becoming more popular and that his main competitor in quality and design was Gibson.
It wasn't hard to see the L-5's influence on the new Epiphone line. Epi's guitars had similar f-holes, pegheads, and even a similar name to the Gibson Master Model range. Epi did continue to distinguish his company with model names that musicians could easily remember and be proud to own. The De Luxe , according to advertisements, featured a "carved spruce top, flame curly maple back, violin construction throughout, large "f" holes, black and white binding and sweet resonant tone. Throughout the s, the rivalry between Epiphone and Gibson would veer from friendly sparring to all-out guitar warfare.
Not to be outdone, Epi replied the following year with the top-of-the-line Emperor , which raised the stakes with a slightly wider body and a provocative advertising campaign featuring a nude woman holding an Epiphone archtop. By the mid '30s, Epiphone guitars were considered to be among the best in the world, and Epi himself was enjoying the patronage of the most respected players on the scene.
Epiphone went inter-continental with a distribution deal with Handcraft Ltd. The new building included an advertised "state-of-the-art" research and development laboratory. The Epiphone showroom on the first floor was both the company's headquarters and a hangout for musicians. On Saturday afternoons, Epi would open display cases and let the leading guitarists of the time artists like Al Caiola, Harry Volpe, and Les Paul, jam as people listened for the sidewalk.
Epi was also aware of the success of Rickenbacker's electric steel guitar models. In , Epi made his move with the introduction of the Electar Series originally known as Electraphone. Among Epi's unique design features included individually adjustable pole pieces on the Master Pickup. The Electar line furthered the reputation of Epiphone as an innovative brand. By the late '30s, sales had doubled.
Collaborations between Epi and other companies became more frequent. Epiphone also began selling amplifiers after meeting electronics enthusiast Nat Daniel, a friend of Les Paul's.
Epiphone reps heard Daniel's amps and hired him to build chassis as well as new designs. Daniel would go on to start the Danelectro line of guitars and amps in the 50s. By the end of the '30s just prior to America's entry into World War II, the rivalry between Epiphone and Gibson showed little sign of abating. In , the two firms introduced similar 'pitch-changing' Hawaiian guitar designs, a precursor to the pedal steel.
When Gibson introduced a line of violins, Epiphone struck back with a line of upright basses. There have also been reports of low morale at the bank, with traders leaving early and actively searching for new jobs. Home Finance Deutsche Bank The bank recently announced a major restructuring that will involve winding down its equities business, eliminating 18, jobs by Watch Deutsche Bank trade live.
But this economic activity offered little prospect for job expansion in the post-colonial period. The withdrawal of the British further aggravated the unemployment situation. The most feasible solution to Singapore's economic and unemployment woes was to embark on a comprehensive program of industrialization, with a focus on labor-intensive industries.
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Unfortunately, Singapore had no industrial tradition. The majority of its working population was in trade and services. Therefore, they had no expertise or easily adaptable skills. Moreover, without a hinterland and neighbors who would trade with it, Singapore was forced to look for opportunities well beyond its borders to spearhead its industrial development.
Pressured to find work for their people, the leaders of Singapore began to experiment with globalization. Influenced by Israel's ability to leap over its Arab neighbors who boycotted Israel and trade with Europe and America, Lee and his colleagues knew they had to connect with the developed world and convince multinational corporations to manufacture in Singapore.
In order to attract investors, Singapore had to create an environment that was safe, corruption-free, and low in taxation. To make this feasible, the citizens of the country had to suspend a large measure of their freedom in place of a more autocratic government. Anyone caught conducting narcotic trade or intensive corruption would be met with the death penalty.
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Individuals who threatened national, political, or corporate unity were quickly jailed without much due process. The country's draconian, but business-friendly laws became very appealing to international investors. In contrast to its neighbors, where political and economic climates were unpredictable, Singapore was very stable. Moreover, with its advantageous location and established port system, Singapore was an ideal place to manufacture goods. By , just seven years after independence, one-quarter of Singapore's manufacturing firms were either foreign-owned or joint-venture companies, and both the United States and Japan were major investors.
As a result of Singapore's steady climate, favorable investment conditions and the rapid expansion of the world economy from to , the country's Gross Domestic Product GDP experienced annual double-digit growth. As foreign investment money poured in, Singapore began focusing on developing its human resources in addition to its infrastructure. The country set up many technical schools and paid international corporations to train their unskilled workers in information technology, petrochemicals, and electronics.
For those who could not get industrial jobs, the government enrolled them in labor-intensive un-tradable services, such as tourism and transportation.