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new buisness

9/27/10

QuestionAnswer
Bessemer Process affective way to remove impurity's from steel.
Andrew Carnegie brought bessemer prosses to america
Vertical Integration When one company owns all the parts of a process (US Steel- Carnegie)
Horizontal Integration When one company owns all of the producers of a product (Standard Oil- Rockefeller)
Holding Companies Companies that bought majorities in many competing companies (JP Morgan)
Interlocking Directorates the same board of directors is in control of various companies
Sherman Antitrust Act Passed in 1890, outlawed trusts, monopolies
John D. Rockefeller--Liquid Assets brought standard oil in
Andrew Carnegie--Cold, Hard Cash Cold, Hard Cash
Cornelius Vanderbilt—Railroading Railroading
J.P. Morgan--Backstage Baron Backstage Baron
Social Darwinism idea that only the strongest will survive.
Gospel of Wealth idea responsibility rich people to give money to charity's
Created by: buckshot94
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