Carnegie a History
Essay Preview: Carnegie a History
Report this essay
From a young age Carnegie manipulated people and took advantage of them. He was able to does this because he was a brilliant speaker .he made the local librarian feel empathic towards him which resulted in he spending many hours there. While he was head of Carnegie steel he gained a reputation as an unfair and ironfisted employer. During the homestead strike his actions killed and injured numerous people then the public got wind that he hiring extremely cheap migrant workers to replaced those on strike essentially ending the strike. He was hung in the press the public was outraged. For once he was finally seen in his true light.
Carnegies companies were founded as partnerships, in line with his philosophy that As associates, Carnegie attracted young men with exceptional talent for organization management. His company was doing great but after the homestead strike incident he was obliged to sell his company to when the offer arose due to his tarnished name. His steel company prospered, and when Carnegie sold the company to J.P. Morgan in 1901, the Carnegie Company was valued at more than $400 million. Morgan then renamed it us steel. US. Steel had its origins in the dealings of some of Americas most legendary businessmen, including Andrew Carnegie, J.P. Morgan, and Charles Schwab. However, its real leader was Elbert H. Gary, who also became U. S. Steels first chairman. At the turn of the century, a group headed by Gary and Morgan bought Carnegies steel company and combined it with their holdings in the Federal Steel Company. These two companies became the nucleus of U. S. Steel. U. S. Steel made 67 percent of all the steel produced in the United States.
At Carnegie steels peek Carnegie controlled roughly 67 to 70 percent of the steel. Of the people employed 49 percent of the employees were males.48 percent of the people employed were 18 to 22 years of age.63 percent of the people worked for Carnegie steel were of white European descent. These statics numbers have slightly decreased but have held very steady. By all reports Carnegie hired young Slavic immigrants for cheaper labor. That is not the case today but this occupation is still dominated by these ethnicities.
Robber Barron Andrew Carnegie could compared to Erik prince ceo of academi (formerly services ,formerly blackwater) Carnegie used takeover tactics to dominate every aspect of the steel business. First he bought up every thing to do with his product iron ore fields, iron refineries, railways, and distribution warehouses. That tactic is vertical integration and really instituted by monopolies of the time. After he has taken over the majority of his product he can outright buy other companies out. He could also lower prices in the surrounding area of the business that refused to sell out to the point were it could not compete. To compensate for the price drop the would slightly raise it in other areas until the business yielded which it usually always and if it didnt the it would fail and go up for pubic auction then he could purchase it. This is a fail proof system to take over you trade.
Now since he controls the steel market he can raise prices break strikes and hire cheap migrant labor. Whenever he investigated by the government he received a get of jail free card because he maintains a healthy relationship with current and former presidents, senators, and various other powerful members off government. He uses his power to make as much