1. Call to Order Who are the most powerful figures in these pictures? How can you tell?

2. Objective HWBAT evaluate the role of business leaders such as Andrew Carnegie, John D. Rockefeller, Cornelius Vanderbilt and JP Morgan in transforming the United States economy. EQ: How were each of these people, and big business as a whole, viewed by their contemporaries?

3. Before we start, create a chart like this in your notes: PersonIndustryImpact

4. John D. Rockefeller:  Dominated the oil industry with his company: Standard Oil  He bought out smaller companies so that he could monopolize the industry  People believed that he was corrupt in his business practices, using things like bribery, sabotage, and secret deals.  He and his attorney invented the trust - a large group of big businesses all controlled through one, bigger business.

5. Fill this in: PersonIndustryImpact John D. Rockefeller Oil Industry (Standard Oil) Dominated the oil industry, created “trusts” – when multiple businesses merge under one.

6. J.P. Morgan:  Began his career as an accountant and formed JP Morgan Company in 1895  He began reorganizing railroads in 1885; he bought stock in railroad companies in order to control them.  In 1896, he brought together the electric, steel, and agricultural equipment manufacturing industries.  By the 1900s, Morgan was the main force behind the Trusts, controlling almost all the basic American industries.

7. Fill this in: PersonIndustryImpact John D. Rockefeller Oil Industry (Standard Oil) Dominated the oil industry, created “trusts” – when multiple businesses merge under one. J.P. MorganMultiple industries: agricultural, steel, and railroad Controlled all basic industries by buying them out.

8. Andrew Carnegie:  True Rags-to-Riches story  He became a powerful businessman and leading force in the American steel industry  His company was Carnegie Steel and he teamed up with JP Morgan to form US Steel in 1900  Carnegie Steel had a monopoly on the entire steel industry and eliminated competition  He believed that the rich had an obligation to give back to society, so he donated much of his fortune to education and peace.

9. Fill this in: PersonIndustryImpact John D. Rockefeller Oil Industry (Standard Oil) Dominated the oil industry, created “trusts” – when multiple businesses merge under one. J.P. MorganMultiple industries: agricultural, steel, and railroad Controlled all basic industries by buying them out. Andrew Carnegie U.S. SteelTeamed up with J.P. Morgan Came from rags to riches, so he gave back money Still wealthy, so people thought he was two-faced.

10. Cornelius Vanderbilt:  Ran a steamboat company  Consolidated multiple railroads to outcompete Erie Railroad  One of the wealthiest Americans in history

11. Fill this in: PersonIndustryImpact John D. Rockefeller Oil Industry (Standard Oil) Dominated the oil industry, created “trusts” – when multiple businesses merge under one. J.P. MorganMultiple industries: agricultural, steel, and railroad Controlled all basic industries by buying them out. Andrew Carnegie U.S. SteelTeamed up with J.P. Morgan Came from rags to riches, so he gave back money Still wealthy, so people thought he was two-faced. Cornelius Vanderbilt ShippingRan steamboat and railroad companies

12. Follow along on your work- sheet as I model this skill.  WHAT is there? What are the main characters, titles, and captions?  HOW are they depicted? What is the relationship between each of the characters?  WHAT is the artist trying to convey? About big business?