Charles M Schwab by Kimberly Vega Salazar https://padlet.com/kivega12047/bel3tkqimjb8 Kassandra Alondra Jason en-us 2018-11-06 20:12:31 UTC 2025-11-08 14:18:03 UTC hello@padlet.com Family & Background kivega12047 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301788836  He was born in Williamsburg; Pennsylvania on February 18, 1862 to John Anthony and Pauline Farabaugh Schwab, He grew up in Loretto, PA, he always referred it as his hometown. He was married to Emma Eurania Dinky, had 0 children with her but had a daughter with his mistress. ]]> 2018-11-07 20:40:19 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301788836 Contributions and/or innovations to the industry albara03945 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301790657 He brought a revolution to the infrastructure sector by his development of wide flange steel beam for massive steel production. He was known for his manipulative and risk taking character, and for that they gave him the nickname "Master Hustler" by Thomas Edison. Mr. Schwab made significant changes to the steel industry thus creating  a monopoly in his company during the first world war. He had a great work ethic and treated his workers very well. ]]> 2018-11-07 20:44:26 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301790657 Education & background kivega12047 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301792371 Charles studied at Saint Francis College, which is now Saint Francis University but left early to find work in Pittsburgh. He began his career as a stake driver in a company called Edgar Thompson Steel Works. He quickly climbed the ranks, becoming the assistant manager in early 1880's & manger in 87'. Later on at the age of 35, Schwab became the president of Carnegie Steel Company in 97'.  Schwab eventually became a very wealthy man. He built an enormous private house on the Upper West Side. His very wealthy lifestyle eventually brought upon him the great depression and he had already spent most of his money when the stock market crashed in 1929 leaving him bankrupt. He could not afford his lavish lifestyle anymore and ended moved into a small apartment.


]]> 2018-11-07 20:46:20 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301792371 Business Pursued javale03446 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301793081 Schwab began his career as an engineer in Andrew Carnegie's steelworks, starting as a stake driver in the engineering corps of the Edgar Thomson Steel Works and Furnaces .The business he pursed was the business of steel. He took over a company called Bethlehem Steel and turned it into the second largest steel maker in the U.S ]]> 2018-11-07 20:48:11 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301793081 Article kaguer16227 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301793409 Charles was an american steel magnate in which he succeeded in making the second largest steel manufacturer in the united states, and he was the most powerful men in the country. Charles believed that he can make the little things into something big. He was a middle class manufacturer that worked for Andrew Carnegie at that time. www.famous-entrepreneurs.com/charles-m-schwab


]]> 2018-11-07 20:49:02 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301793409 Business Pursued Part 2 javale03446 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301796614 At the beginning he was the president of  Carnegie Steel Company but later sold it to J.P Morgan. He started to have problems with Morgan and left to became president of Bethlehem Steel ]]> 2018-11-07 20:56:52 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301796614 Successes javale03446 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301799851 A major part of Bethlehem Steel's success was the development of the H-beam which is  an  or H-shaped cross-section. The horizontal elements of the "I" are known as flanges, while the vertical element is termed the web.

According to Schwab himself in his book the reason why he produce some much steel was because he inspired his workers in some good, old fashioned, healthy competition by writing how much the night shift had made and it made the day shift worker work harder to make more than the night shift workers 
]]> 2018-11-07 21:04:33 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301799851 Failures javale03446 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301802648 His success started with a failure when   this happened Schwab acquired control of the Bethlehem Steel Company in 1901. When the concern was merged into the United States Shipbuilding Company, Schwab's stock was exchanged for bonds. When this company failed owing to an improper financial policy, Schwab as the prime creditor became the owner. 

Bethlehem Steel had created a soccer team although there were  very successful in its time in 1930  there were disbanded because of financial losses incurred during the internecine
He died in approx $300,000 of debt ($5,047,177 now), however his net worth in the year 1920 was 200,000,000, equivalent to 2,337,355,772 now he died September 18, 1939 of heart compilations 

]]> 2018-11-07 21:12:12 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301802648 Charles treatment of workers/companies kaguer16227 https://padlet.com/kivega12047/bel3tkqimjb8/wish/301803626 Charles had management skills that were further of his time. He conceived a plan that was consider a healthy competition. 
He would say that the way to get things done is to stimulate competition. Charles did have troubles at first pushing his men to produce more supplies. So he would mark down on the chalk board the amount of heats they would make a day to remind them how many they have completed. Charles often pleased his customers with his good looks to get what he wanted. He knew how to handle a situation and push his workers to do better.


]]> 2018-11-07 21:15:03 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/301803626 Education and background continued kivega12047 https://padlet.com/kivega12047/bel3tkqimjb8/wish/302324106 In December 1900, Schwab had dinner with financier J. Pierpont Morgan and broached the idea of creating a huge steel combine from several competing companies.  In 1901, he helped in the negotiation of the sale of Carnegie Steel with a group of New York-based financiers and became the president of U.S Steel Corporation (USS).  During his two-year stint at the head of U.S. Steel, Schwab earned more than $2,000,000 annually. In 1903 he resigned and devoted his energies and wealth to build up a much smaller enterprise ]]> 2018-11-08 20:40:12 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/302324106 Contributions and/or innovations to the industry Pt.2 albara03945 https://padlet.com/kivega12047/bel3tkqimjb8/wish/302327447 After he broke apart from Morgan and another steel executive Elbert Gray. He decided to join a steel and shipping company in Bethlehem, Pennsylvania. The company was already a famous with shipyards in California, Delaware, and New Jersey. With Schwab as leader the company became the largest independent steel producer in the world. Schwab was a big risk taker and it  worked out for him in the long run. He ended up being recognized as one of the biggest steel producers in the world. ]]> 2018-11-08 20:47:51 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/302327447 Schwab and Carnegie kaguer16227 https://padlet.com/kivega12047/bel3tkqimjb8/wish/302334625 Charles worked really hard to show that he can do it for Carnegie. He tried to please Jones and Carnegie and while he did that it allowed the company to advance more. Charles and Carnegie wanted their people to make the best steel and sell it for the lowest price so they can get more customers. ]]> 2018-11-08 21:07:10 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/302334625 While Charles work for Andrew kaguer16227 https://padlet.com/kivega12047/bel3tkqimjb8/wish/302338507 While he worked for Andrew he later became the manager and then the president of the company. Charles rose to power and sold the company. He then decided to join the ship building and steel company. Through his creative ideas and the way he manage things he did deals with the us army by supplying them with steel. After that he became president of the iron and steel institute]]> 2018-11-08 21:17:36 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/302338507 Philanthropic pursuits and/or contributions to society albara03945 https://padlet.com/kivega12047/bel3tkqimjb8/wish/302339567 He was head of U.S. Steel, Schwab earned more than $2,000,000 annually.  But Schwab’s genius for human relations could not keep him at peace with the corporation’s directors and with Morgan, and in 1903 he resigned. He then devoted his energies and his wealth to building up a much smaller enterprise. He devoted himself to the Bethlehem Steel Company which he later merged in with the U.S. Shipbuilding Corporation. He created this business with dreams of continuing he legacy as the biggest steel handler ever. He probably had no idea what he was providing for the life of others. He provided jobs for men when he started the business and more and more were created the bigger his corporation grew. He gave families money and places to live by providing a pay check to his workers.

]]> 2018-11-08 21:20:30 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/302339567 Family and background continued kivega12047 https://padlet.com/kivega12047/bel3tkqimjb8/wish/304377346 Both of his father and mother's grandparents were Catholic immigrants from Germany. He was a man who had once been an entrepreneurial example. He died broke with a debt of more than 300,000 dollars, on October 18, 1939 of a heart disease  and was buried in his hometown Loretto. ]]> 2018-11-14 16:14:10 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/304377346 Philanthropic pursuits and/or contributions to society pt.2 albara03945 https://padlet.com/kivega12047/bel3tkqimjb8/wish/305020564 He probably had no idea what he was providing for the life of others. He provided jobs for men when he started the business and more and more were created the bigger his corporation grew. He gave families money and places to live by providing a pay check to his workers. ]]> 2018-11-15 20:30:36 UTC https://padlet.com/kivega12047/bel3tkqimjb8/wish/305020564