Business stories from the filingsSubscribe free
Episode 013 · Cars

The Car So Good It Killed Hudson

A long low black sedan on a show stand under a large HUDSON sign, with other makers signs behind it

In 1929 only Ford and Chevrolet sold more cars than Hudson and its Essex. In 1952 its Hornets won 27 of NASCAR's 34 races. Five decisions later, in 1957, the name was gone, and the merger that ended it created the company that bought Jeep.

*Picture at the top: a Hudson Commodore on its stand at the Amsterdam motor show, 29 April 1948. Photo: Snikkers / Anefo, CC0, via [Wikimedia Commons](https://commons.wikimedia.org/wiki/File:Opdracht_Auto._Aut%27s_in_de_RAI,_Bestanddeelnr_902-7165_(cropped).jpg) (Nationaal Archief).*

In 1929 one company on the east side of Detroit built about 300,000 cars. Only two makes of car sold more: Ford and Chevrolet. Twenty-three years later its Hornets won 27 of the 34 races in NASCAR's top series that season. Continue reading

A drawn girl in an apron flinches as a ketchup bottle bursts in her hands, beside a photographed Heinz ketchup bottle and the word PURE with a question mark
Episode 011 · Food

The Secret History of Heinz Ketchup

In 1903 cheap American ketchup fermented in the bottle and was kept from spoiling with chemicals. Henry John Heinz sold a ketchup with no preservative, backed the 1906 pure food law, and in the year the President's own experts found the main preservative harmless in small doses, he advertised against it. He lost the science and won the market.

Michael Jordan in a red 23XI cap, sunglasses and a white zip top sits on his team's pit box at a race, watching the track
Episode 010 · Antitrust

NASCAR Had to Approve His $28 Million. He Sued Anyway

Michael Jordan's racing team refused NASCAR's take-it-or-leave-it charter contract and sued. NASCAR denied abusing its control of the sport, and the case settled on the ninth day of the trial.

Two young men stand behind a shop counter buried in a heap of orange lottery slips, one printing tickets at a terminal
Episode 009 · Lotteries

MIT Grads Bought 700,000 Lottery Tickets for One Draw

On certain nights, a Massachusetts lottery game's $2 tickets won back at least $2.30 each, on average. Four betting teams, among them one run by two MIT graduates and one led by a former shopkeeper from Michigan, bet more than $40 million on it, and the people running the Lottery knew. The state's Inspector General found the buying legal, and the game a financial success for the Lottery.

Drawing of a parking attendant on a grass lot taking a bank note from a woman beside her car, a white canopy behind them
Episode 008 · Monopoly

What Ticketmaster Didn't Want the Jury to See

In April 2026 a New York jury found that Ticketmaster had overcharged concert fans $1.72 a ticket. The Justice Department, which brought the case, had settled with Live Nation and left in the trial's second week. Thirty-three states and Washington DC carried on alone with a lawyer who had eight days to prepare. Live Nation has asked for a new trial, and the judge has not ruled.

A soldier in uniform leans over a map table in a dim planning room while two others study a wall map
Episode 005 · Prediction markets

He Helped Plan the Maduro Raid, Then Bet $32,538 on It

Prosecutors say a Special Forces master sergeant bet on Polymarket that Nicolás Maduro would fall, hours before the raid he had helped plan. The charges are allegations; he has not been convicted.

A man sits at a desk facing three monitors in a quiet office as the first light of morning reaches the blind
Episode 004 · NFTs

He Stole $5.7 Million in One Night, Then Got Thanked

A Yuga Labs executive took 23,155 NFTs out of strangers' wallets to save them from thieves exploiting the old permissions of a closed marketplace.

A man lies on an inner tube and paddles away down a rain-swept wooded creek
Episode 003 · Trading cards

The Armored Car Robber Who Sold the FBI a Pokémon Card

A former armoured car robber printed his own grades onto genuine PSA labels, in a market where one point on a label could be worth nearly half a million dollars.

A coach sets out a circle of folding chairs in a hired hall before a meeting
Episode 002 · Weight loss

Ozempic Didn't Kill Weight Watchers. It Might Save It.

In one February, Weight Watchers borrowed $1.5 billion and paid $779 million of it to a single shareholder. The drug arrived nine years later.

Cars queue into an express car wash tunnel
Episode 001 · Car washes

The Quiet Collapse of the American Car Wash Boom

Driven Brands sold 382 car washes for $385 million. The rent that came with them was $812 million.

A wall of filing cabinet drawers with one drawer pulled open to show its files
The paper trailEach episode takes a business you know and follows the money through what it actually filed. About Open Books
WatchEvery story is also a short illustrated film. Open Books on YouTube
ListenEvery story is also a podcast episode. Listen on Spotify or Amazon Music, or follow the feed in any podcast app.