The Entrepreneurial Year That Was

It was a best-of-times-worst-of-times year. Despite fears over housing and oil prices, the economy expanded and the Fed stopped raising interest rates. How many other business headlines from 2006 do you remember?

By Max Chafkin |  @chafkin   | 
 
  1. In his State of the Union address, President George W. Bush said, "America is addicted to oil." How did he propose to solve this problem?
    1. Mandatory screenings of An Inconvenient Truth
    2. Cars powered by hydrogen, wood chips, and switch grass
    3. Drilling for oil in Alaska's Arctic National Wildlife Refuge
    4. Abolition of the estate tax

  2. According to the Kaiser Family Foundation, companies with 5,000 or more workers saw their health care premiums rise by 6.9 percent in 2006. What happened to premiums at companies with fewer than 25 workers?
    1. Premiums went up more, by 10.5 %
    2. The increase was about the same, at 7.1%
    3. Premiums went up only 4.2%
    4. Premiums actually declined 0.1%

  3. What role did VariTalk, a small Chicago-based marketing firm, play in the elaborate promotional campaign for the movie Snakes on a Plane?
    1. Organized a Snakes on a Plane-inspired songwriting contest
    2. Promoted the movie through viral videos on YouTube
    3. Suggested adding five days of filming to add extra violence, profanity, and nudity
    4. Arranged for actor Samuel L. Jackson to make telephone calls to more than a million fans

  4. Kobi Alexander, the founder of Comverse Technology (NASDAQ:CMVT), was apprehended in Namibia after fleeing the U.S. in connection with what alleged crime?
    1. Running an online gambling company
    2. Engaging in digital piracy
    3. Backdating stock options
    4. Making illegal campaign contributions

  5. Arkansas and Michigan recently joined 19 other states in setting a minimum wage above the federal rate of $5.15. Which state's rate is tops at $7.63?
    1. Washington
    2. New York
    3. California
    4. Oregon

  6. On the witness stand at his fraud and conspiracy trial, the late Enron founder Kenneth Lay surprised observers when he:
    1. Lost his renowned cool, openly questioning his lawyer's strategy
    2. Lauded The Wall Street Journal for top-notch investigative journalism
    3. Described Andrew Fastow as one of the top CFOs in America
    4. Admitted, "I've always admired short sellers"

  7. Much of the debate over illegal immigration this year concerned a bill that the House of Representatives passed the previous December. Which measure was not included in that piece of legislation?
    1. Companies must check the Social Security numbers (and thus the immigration status) of their employees against a national database
    2. Employers are fined up to $25,000 for immigration violations
    3. Plans for the government to build a 700-mile fence along the Mexican border
    4. Employers can hire people through a guest worker program

  8. A side venture run by University of Phoenix founder John Sperling shut down this year. What did the company, Genetic Savings and Clone, do?
    1. Medical loans
    2. Pet clonings
    3. Paternity tests
    4. In vitro fertilization

  9. In June, rapper, entrepreneur, and Def Jam Records CEO Shawn "Jay-Z" Carter announced a boycott of a prominent brand selling which of the following products?
    1. Champagne
    2. Bling
    3. Designer jeans
    4. Online music

  10. Legendary venture capitalist and former Hewlett-Packard (NYSE:HPQ) board member Tom Perkins released a book in 2006. What was the title?
    1. Pretexting for Dummies
    2. The HP Way
    3. Sex and the Single Zillionaire
    4. Small Giants

  • [Bonus]: Where would you find this book in a bookstore?

Answers: 1. B 2. A 3. D The calls were automated. 4. C 5. A 6. A 7. D 8. B The company charged $50,000 to clone a cat. 9. A He vowed to stop drinking Cristal. 10. C Bonus: Most likely in the Romance section.


Max Chafkin

Senior writer Max Chafkin has profiled companies such as Yelp, Zappos, Twitter, Threadless, and Tesla for the magazine. He lives in Brooklyn, New York.