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Captains of Industry

Gilded Age

QuestionAnswer
Which businessman represented the American Dream? Andrew Carnegie
Andrew Carnegie background 1. Scotland immigrant 2. poor 3. worked in railroad industry as teen 4. best telegraph operator 5. outgoing
Andrew Carnegie industry steel
Andrew Carnegie businesses 1. Carnegie Steel 2. United States Steel Corp
Who said watch the costs, and the profits will take care of themselves Carnegie
Carnegie business practices 1. vertical integration 2. undersold 3. lowered production cost 4. new tech (scales that measured steel 5. let others manage operations 6. asked for favors 7. merged US Steel Corp w JP Morgan
Carnegie treatment of workers 1. treated the worst 2. low wages 3. long shifts 4. too demanding
Carnegie charitable donations 1. most charitable 2. $300 mil to libraries & universities
John D Rockefeller background 1. Cleveland merchant 2. competitive
Rockefeller industry oil
Rockefeller companies 1. Standard Oil company 2. Standard Oil Trust
Rockefeller business practices 1. lowered production cost 2. vertical & horizontal integration 3. clean equipment 4. new tech improved fuel quality 5. advertised (red cans) 6. controlled transportation of oil 7. customer loyalty 8. detailed
Rockefeller treatment of workers 1. fair 2. long vacations
Rockefeller charitable donations 1. $500 mil to education & religious orgs
JP Morgan background 1. from Connecticut 2. avoided conscription 3. family of financers
JP Morgan industry finances
JP Morgan companies 1. JP Morgan & Company 2. US Steel Corp 3. General Electric 4. Federal Steel
JP Morgan business practices 1. vertical & horizontal integration 2.holding companies 3. sold bonds/stocks of railroads/businesses 4. reorganized bankrupt railroads 5. financed many businesses (AT&T) 6. controlled railroad network
JP Morgan treatment of workers 1. didn't care 2. low wages
JP Morgan charitable contributions 1. least charitable 2. "I owe the public nothing" 3. left art to NY art museum
Created by: kayla57575
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