industrialists © mark batik jesuit college preparatory
DESCRIPTION
Andrew Carnegie Steel industrialist Benefit of timing for the widespread application of steel Gospel of Wealth PhilanthropistTRANSCRIPT
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Industrialists
© Mark BatikJesuit College Preparatory
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Andrew Carnegie Steel industrialist Benefit of timing for
the widespread application of steel
Gospel of Wealth Philanthropist
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John D. Rockefeller Secretly bought new
oil related companies such as engineering and pipeline firms
Another tactic was to buy up a competing oil company
Used secret deals with the railroads
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JD Rockefeller Standard Oil
Trust Global
Corporation Benefit of
margins
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J.P. Morgan Banker Railroads and Steel Purchased
Carnegie Steel and created US Steel
First billion dollar company
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Vertical Integration Owning all levels of production For example: Carnegie Steel Company Benefits
– No supply problems– Controls costs– Operate company as needed
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Trusts Begun from inheritance or beneficial
trusts People held the control of a company
in trust
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Holding Company Where one company owns outright or
a controlling interest in another company
Used to integrate the activities of many companies
Rockefeller uses its application