We assume that at some point throughout its corporate history a marketing manager or someone else in a position of power finally stood up in a board room and said something to the effect of: “boys, I know we have a history with the name, and it stands and signifies quite a lot for us, but Minnesota Mining and Manufacturing company is just too damned long of a name!” and we’d also hope he had support and the name was changed without further delay, creating the company that catches the eye of many Binary Options traders – 3M.
The first steps of 3M’s existence were actually founded in complete failure and the resolve of its founders to recover from that failure.
The founding members of 3M formed the joint venture in 1902 to mine for a mineral known as corundum, which has quite a few industrial uses, with sand-paper being chief among them, however, their enterprise failed, as the location the mined did not contain the valuable mineral, but rather the commercially worthless anorthosite.
Their second attempt at success was only slightly more successful, as the garnet they imported to use in sand-paper was ill-treated during shipping and absorbed large quantities of olive oil, which caused to simply fall off the paper…
Undaunted, they researched and located a solution to the problem, which essentially saved the young company and oddly enough became a future staple of its business.
3M was the inventor of waterproof sand paper, masking tape and scotch tape and it continues to be an inventor and innovator of similar products to this day, the company produces a variety of products in countless areas of industry – from adhesives and abrasives through car care products, optical film and electrical circuits all the way to medical equipment and fire protected products.
It makes extensive use of its research division to keep developing new inventions in one of its 29 international companies with various manufacturing operations and an additional 35 companies with some form of research and development laboratories.
Through the years 3M has developed or helped develop many items we now consider part of our day to day lives – from band aids to post it notes.
3M today continues its advancement by purchasing various technology based companies, while selling its products worldwide, making it one of the only companies to have some form of retail presence in every single country on the planet.
If one needs further proof of 3M’s stability and financial status, one need to look no further than the fact that it has been included in the Dow Jones index since 1976, making it a cornerstone of the American economy in the truest sense of the word.
If you’re thinking about possibly investing some of your hard earned money in 3M binary options you should, as ever, keep your eyes peeled for its own monetary issues such as income and expenditure, employee figures, sales and profitability, but due to the fact that it has such a large consumer base and is represented in every corner of the globe, you would be wise to look at global conditions that may lead to rises or declines in demands, and in addition to that, you should always consider it being a part of major financial indices as the Dow jones and S&P 500, which ties its fate along with that of other companies.
Make your binary options investments in 3M smartly and you’re likely to need their post-it notes to remind you just where you put all that extra money you’ve just made.