Nehemiah Corporation of America
Nehemiah Corporation of America is a non-profit organization based in Sacramento, California specializing in homeownership, affordable housing and community development. It started in 1994 as a small organization, but grew to prominence later in the 1990s after it developed a program that allowed home buyers to make down payments on their purchases using funds that were derived from the home sellers. This program, the Nehemiah Program, became popular and was widely emulated, giving birth to what came to be known as the seller-funded down-payment assistance industry. The industry attracted criticism from U.S. federal agencies (particularly the Government Accountability Office and the Internal Revenue Service) and was ultimately shut down in 2008 by a change in federal law.
American business history
U.S. Steel was the iconic billion-dollar industrial corporation. It was formed by banker J. P. Morgan (1837-1913) and lawyer Elbert H. Gary (1846-1927) in 1901 by combining the Carnegie Steel Company with Gary's Federal Steel Company, and several smaller concerns. Carnegie permanently left industry to become a philanthropist on a global basis, and judge Gary ran the operation. In 1907, it received federal permission to buy out its largest competitor, the Tennessee Coal, Iron and Railroad Company, To end a panic on Wall Street. It escaped prosecution for monopoly by arguing it had never engaged in any illegal monopolistic practices. But it was classes, and year-by-year watched its share of the market decline has been competitors entered the steel industry to provide warships, building materials and supply railroad same consumer products. By 1902 U.S. Steel made 67 percent of all the steel produced in the United States. One hundred years later, it accounted for only 8 percent of domestic consumption.