| Question | Answer |
| 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 |
