Industrialists © Mark Batik Jesuit College Preparatory.

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Presentation transcript:

Industrialists © Mark Batik Jesuit College Preparatory

Andrew Carnegie  Steel industrialist  Benefit of timing for the widespread application of steel  Gospel of Wealth  Philanthropist

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

JD Rockefeller  Standard Oil Trust  Global Corporation  Benefit of margins

J.P. Morgan  Banker  Railroads and Steel  Purchased Carnegie Steel and created US Steel  First billion dollar company

Vertical Integration  Owning all levels of production  For example: Carnegie Steel Company  Benefits –No supply problems –Controls costs –Operate company as needed

Trusts  Begun from inheritance or beneficial trusts  People held the control of a company in trust

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

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