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9.1 - Business, Labor and Politics in the Gilded Age (Captains of Industry)
Terms in this set (21)
American business leader who made a fortune in the shipping and railroad business in the 1800s. Known as the Commodore, he owned the New York Central Railroad and built New York City's Grand Central Terminal.
Giving money. For example, Carnegie donated much of his fortune to build libraries around the world.
Industrialist who monopolized the steel industry.
City in western Pennsylvania that was home to America's steel industry.
A type of monopoly in which one business controls all of one stage of an industry. For example: Carnegie owned all of the steel mills.
A type of monopoly in which a business undercuts its competitors by owning a company at each stage of an industry. For example: Carnegie owned mines, ships, railroads, and steel mills.
Henry Clay Frick
Carnegie's to assistant. An industrialist in his own right, he owned the coke mines used to power the Carnegie steel operation.
Carnegie Steel Company
Andrew Carnegie's steel business. Later known as U.S. Steel after it was purchased by J.P. Morgan.
American financier. He was so wealthy he bailed out the U.S. government during financial crisis.
American financier who purchased Carnegie Steel. His businesses were the target of antitrust lawsuits.
Name given to Carnegie Steel after it was purchased by J.P. Morgan.
John D. Rockefeller
American industrialist who dominating the oil business. He was the richest man in America.
Site of the first oil wells in America. Rockefeller got his start refining the oil found here.
Money paid back as an incentive. For example, railroad companies gave Rockefeller these in exchange for the exclusive right to ship his oil.
A legal business entity that owns other companies. Industrialists used these to avoid taxes, laws restricting business practices, and to hide the integration of the many elements of their empires.
Standard Oil Corporation
John D. Rockefeller's petroleum business.
American industrialist who dominated the department store industry. His chain of stores was based in Chicago, Illinois.
Industrialist and politician who made his fortune in California during the Gold Rush. He went on to be president of the Southern Pacific Railroad and Governor of California.
Industrialist who dominated the copper mining industry. He was known as the "Copper King."
Captain of Industry
Nickname for the industrialists of the Gilded Age. It alludes to the fact that they led great enterprises and advanced the quality of life for many Americans.
Derogatory nickname for the industrialists of the Gilded Age. It refers to the unfair business practices they engaged in and their mistreatment of workers.
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Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $0.50 coming 3 years from today. The dividend should grow rapidly—at a rate of 35% per year—during Years 4 and 5; but after Year 5, growth should be a constant 7% per year. If the required return on Computech is 13%, what is the value of the stock today?
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