THIS WEEK IN BUSINESS HISTORY

Sept. 16, 1908

General Motors was formed in Flint, Mich., by William C. Durant.

Sept. 17, 2001

Stock markets in the United States reopen for the first time since the Sept. 11 terrorist attacks on Washington, D.C., and New York, and air traffic begins to return to normal. The Dow Jones average and NASDAQ, however, both fell by more than 5 per cent, with airline stocks taking particularly strong hits.

Sept. 18, 1851

The New York Times was published for the first time.

Sept. 20, 1999

Sears Canada announced it would buy the outstanding common shares of the insolvent Eaton's in a move that provided up to $50 million for creditors and saved about 1,000 jobs. Sears also took over Eaton's name and trademarks, along with eight stores, plus options on five other locations.

Sept. 22, 1866

Prince Edward Island rejected an offer of $800,000 from Nova Scotia and New Brunswick to join Confederation. Prince Edward Island finally joined Confederation on July 1, 1873.