Lived from 1862-1939
President of US Steel Corporation, Bethlehem Steel,
Mr. Andrew Carnegie's right hand man.
* Not to be confused with Charles R. Schwab, the financial services entrepreneur born in 1937 (read his Wikipedia).
Memorable Quotes:
"A man can succeed at almost anything for which he has unlimited enthusiasm."
"I never criticize anyone. I believe in giving a person incentive to work. So I am anxious to praise but loath to find fault. If I like anything, I am hearty in my appreciation and lavish in my praise."
"I consider my ability to arouse enthusiasm among my people the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement."
History:
-Studied in college for two years before beginning an entry-level career with one of Andrew Carnegie's steel concerns. He was slowly promoted to assistant manager, and then manager.
-In what would be a pivotal point in his career, he was asked by Carnegie to repair relationships between management and labor following a dispute. His abilities in managing people brought a reunion between labor and management, and led to a sharp increase in the steel plant's efficiency.
-He was asked to serve as president of Carnegie Steel Corporation at the age of 35.
-Four years later he assisted in the sale of Carnegie Steel to a group led by J.P. Morgan. A new company was formed called, US Steel Corporation, and he was once again asked to serve as president of the company.
-Schwab left US Steel a few years later to become president of Bethlehem Steel. Schwab undertook the revolutionary risk of developing the "H-Beam", which was a modification to the then existing, "I-Beam". He bet the farm on the new product, saying to his secretary, "I've thought the whole thing over, and if we are going bust, we will go bust big."
-The h-beam changed the faced of modern construction, allowing builders to build skyscrapers. This resulted in Bethlehem Steel becoming the second largest steel company in the world.
-Built and owned some of the most extravagant homes in the world, including the "Immergrün", a 44 room summer estate, complete with a 9-hole golf course and stunning gardens.
-Thomas Edison once famously called him the "Master Hustler".
-Became known as a high-stakes gambler, spending and losing most of his fortune ahead of the great depression.
-Following the stock market crash of 1929, his stock holdings in Bethleham Steel were nearly worthless, and he found himself $300k in debt.
-He spent the last few years of his life in a small apartment, living on borrowed money. He ultimately died bankrupt in a modest apartment.
(Photo sources - from Top: first, second, third)
Related:
This man’s enthusiasm was contagious. I have known a few people like this and their attitude makes even the cynical and burnt-out react with more vigor and enthusiasm.
It makes a person who works with them “not want to disappoint…”
That being said,
Gambling is not the best of hobbies.
The way I see it- why gamble when you can speculate instead?
I would rather use the results of my research to make decisions instead of relying on a term which is known Worldwide as “luck.”
Random variables that are out of my control – not fun.
Letting the forces of this Earth dictate the outcome of my fortunes?
I am not a dumb animal and I do not worship the elements or creatures that are lower than myself.
I would rather go rely on MY senses and while I may lend them an ear every once in a while, I do not rely on the advice of “experts.”