Starting in 1853, Thomas A. Scott of the Pennsylvania Railroad Company employed Carnegie as a secretary/telegraph operator at a salary of $4.00 per week. Carnegie accepted this job with the railroad as he saw more prospects for career growth and experience with the railroad than with the telegraph company. At age 18, the precocious youth began a rapid advance through the company, becoming the superintendent of the Pittsburgh Division. His employment by the Pennsylvania Railroad Company would be vital to his later success. The railroads were the first big businesses in America, and the Pennsylvania was one of the largest of them all.
Case study: The Stanford Financial Fallout History: Allen Stanford was born in Mexia, Texas in 1950. His childhood became one of the significant boosts in life. When he was 13, his money worth of $400 was offered to a real estate developer for felled trees by selling it as firewood. He study at one of the oldest school in Texas called Baylor University. A massive great depression spread in Texas, which held Lodis to come up with an Insurance industry.
These components include its mission statement, its rituals, its policies, the physical layout of its facilities and how stories shape their culture. Lincoln Electric has a mission “to earn and retain global leadership as a total quality supplier of superior products and services.” Next, we'll look at the rituals, or traditions, the company implements. As previously mentioned, employees of Lincoln Electric have enjoyed yearly bonuses since 1934, regular Advisory Committee meetings with executives, and job security. In recent years, markets have seen slumps and as such companies have had to layoff employees. With average unemployment rates in Cleveland, Ohio peaking at 12.5% in the past decade, Lincoln Electric employees are guaranteed a minimum of 32 hours after one year of employment.
They only hired men to work for them and their minimum wage was $5 per 8 hours. “Ford announced that it would pay its male factory workers a minimum wage of $5 per eight-hour day, upped from a previous rate of $2.34 for nine hours… $5 per day was nearly double what the average auto worker made” (“Ford factory workers get 40-hour week” 1). This quote is proving that workers were getting paid double what the average auto worker earned. It created a middle class and raised the standard of living for the American factory workers. For the workers to be productive they had to create the five-day workweek.
First, he was hired as a bobbin changer, working 12 hours a day, 6 day a week, only making $1.20 a week. Then, in 1849, he became a telegraph messenger in the Ohio Telegraph Company, making $2.50 a week. Carnegie worked hard, and could soon determine morse code by ear, and quickly became an operator (Wikipedia
After Hershey married Elizabeth Sweeney, the Hershey’s used their wealth to build and fund the Hershey Industrial School. This school was made to train boys in farming and industry so that they could support themselves as adults. Eventually, the school started to enroll girls and boys from disrupted homes all around Pennsylvania. In 2011, the school had 1,838 students registered. Prior to Hershey donating his entire fortune to the Hershey Industrial School, Elizabeth Sweeney died in 1915 (Lancto, 2003).
As members of the lower class, both of his parents worked in the sewing and weaving industries. As the period of Industrialization approached in the mid 1800s, automation took over the two industries, forcing the Carnegie family to move to the United States in search of opportunity. Being a member of the lower class, Andrew Carnegie had an eye for opportunity, since he and his family needed it more than any member of the middle class. The Carnegie family moved to Allegheny, Pennsylvania, which is now a part of Pittsburgh. After working at a cotton mill for some time, he later became a telegraph messenger, making about $2.50 per week (America’s Library).
Lincon Electric company was founded in 1895 in the middle of economic recession and with a difficult first year when a fire occurred in their premises. The founder’s mission was clear, he wanted to launch a business in welding equipment and become the leader in regards to product quality offered as well as the competitive price. John Lincon, the founder of the company, was an innovative engineer and the first product of Lincon Electric was a motor of his own design. His younger brother James joined the company in 1907 as a salesman. Although, the difficulties that they faced during the first twenty five years of the company’s operation they had a clear mission.
I chose to read this book because he is very inspiring and he made a huge impact to the lives of the villagers in Bangladesh. I was moved on how he pursued his idea of microfinancing the small time businesses to payoff their balance from the moneylenders and add more capital to their business to sustain their living and their children’s education. Muhammad Yunus grew up on Boxirhat road in the heart of Chittagong’s old business district. He lived at Number 20, a small two storey house with his father’s jewelry shop and workshop tucked beneath the ground floor. His father entered the jewelry business and soon became the foremost local manufacturer and seller of jewelry ornaments for Muslim customers.
He was born on 7April 1770 in Cocker mouth, an old market town in the district of Allendale in the county of Cumbria in the north west of England. He was the second child of John and Ann Words worth, his father was a lawyer. Growing up in the Lake District had great influence on him importantly because of the exclusive sense and appreciation for nature he would get there. The Wordsworth children were Richard, William, Dorothy, John, and Christophe, they stayed close together through their lives especially William and Dorothy. William had a good child hood with his family until 1778, where his mother Ann died and the family was torn apart.