On this day: December 31

POSTED: 02:25 AM PST Dec 29, 2012    UPDATED: 11:00 PM PST Dec 30, 2014 

Times Square holds its first New Year's Eve celebration, the board game Monopoly is patented, "Calvin and Hobbes" say goodbye, and the U.S. relinquishes control of the Panama Canal, all on this day.

OTD December 31 - Taylor Hackford
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Frederick M. Brown/Getty Images

1944: Filmmaker Taylor Hackford, best known for directing movies such as "An Officer and a Gentleman," "Against All Odds," "White Nights," "Proof of Life" and "Ray," is born in Santa Barbara, California. Hackford received an Academy Award for Live Action Short Film for "Teenage Father" in 1979 and was nominated for Oscars for Best Director and Best Picture for 2004's "Ray." He's seen here with his wife, Oscar-winning actress Helen Mirren, in 2012.

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