Andrew Carnegie Flashcards
Carnegie came to the US when he was how old? And did what
12
Was a bobbin boy at a textile factory
Carnegie got involved in what industry
Steel
As a teen Carnegie learned to be a what?
And worked for what company
Telegraph operator
Pennsylvania Railroad
Who made Carnegie into the successful man he was
Tom Scott
What did Scott give Carnegie
Promotions and raises
As well as lending him money to invest in Wall Street
Carnegie is a millionaire before age?
30
Carnegie then moves from wall street to what
Manufacturing
In 1872 Carnegie buys 100 acres where, and does what with it
In Braddock, PA
Builds worlds largest Bessemer steel plant
What does Carnegies steel plant do?
Mass produces steel, so the price of steel went down
Carnegies business plan is called
Vertical Integration
What is vertical integration
Carnegie owned all aspects of steel production
What does Carnegie become in his sainthood phase
A philanthropist (donates to charity)
Carnegie spin on his own life claims he is
A self made man
Carnegie donated lots of money to build what
Public libraries
He also created what two things in his sainthood phase
Carnegie hall
Carnegie Mellon university
