Dec
25
In the age of Big Business, how did Andrew Carnegie make it big in steel? What does not belong on this list:?
By
ruby questioned:
1. He worked as a clerk as a young man in the industry; learning about steel production
1. He worked as a clerk as a young man in the industry; learning about steel production
2. He played the stock market, carefully invested and saved his money
3. Carnegie hired trained men giving them a free hand at production; tight employee controls were not a part of his steel company
4. In a time when Carnegie got into the steel business, the production was changing and he changed with the time, modernizing, putting his profits back into the company leaving him in a excellent way when the bottom dropped out the market and he remained in business.
Debt Leads Pay Day Cash and Sub-Prime Loan Seekers
At age 14 Carnegie became a messenger in a telegraph office, where he eventually caught the notice of Thomas Scott, a superintendent of the Pennsylvania Railroad Company, who made Carnegie his private secretary and personal telegrapher in 1853. Carnegie’s subsequent rise was rapid, and in 1859 he succeeded Scott as superintendent of the railroad’s Pittsburgh division. While in this post he invested in the Woodruff Sleeping Car Company (the original holder of the Pullman patents) and introduced the first successful sleeping car on American railroads. He had meanwhile begun making shrewd investments in such industrial concerns as the Keystone Bridge Company, the Superior Rail Mill and Blast Furnaces, the Union Iron Mills, and the Pittsburgh Locomotive Works. He also profitably invested in a Pennsylvania oilfield and he took several trips to Europe, selling railroad securities. By the age of 30 he had an annual income of $50,000.