Document A Vanderbilt, Carnegie and Rockefeller Profiles Cornelius Vanderbilt Shipping and Railroads INFO METHODS POSITIVES NEGATIVES Known as the Set his prices far below Made shipping products Put competitors out of those of his competitors to faster and more efficient business “Railroad King” steal their business Railroads laid the New York Times called him a Made his fortune Bought out competitors foundation for for putting his “robber baron” in the steamship industrialization and were competition out of business business Consolidated small key to getting factory and whenever he could railroad lines into one of farm products to their Entered the the first giant corporations markets Accused of bribing railroad business in the USA government officials to help at age of 69 Made other big his business businesses possible Ultimately controlled railroad lines from New Seen as cold and uncaring. Made travel less York to Chicago When asked by a newspaper expensive and faster reporter if the railroads be run for the public shouldn’t Donated money to found good (instead of profit), he Vanderbilt University in the public be replied, “Let Nashville, TN damned” do I care “What about law? Ain't I got the power”?
Document A Vanderbilt, Carnegie and Rockefeller Profiles Cornelius Vanderbilt Shipping and Railroads INFO METHODS POSITIVES NEGATIVES Known as the “Railroad King” Made his fortune in the steamship business Entered the railroad business at age of 69 “What do I care about law? Ain't I got the power”? Set his prices far below those of his competitors to steal their business Bought out competitors Consolidated small railroad lines into one of the first giant corporations in the USA Ultimately controlled railroad lines from New York to Chicago Made shipping products faster and more efficient Railroads laid the foundation for industrialization and were key to getting factory and farm products to their markets Made other big businesses possible Made travel less expensive and faster Donated money to found Vanderbilt University in Nashville, TN Put competitors out of business New York Times called him a “robber baron” for putting his competition out of business whenever he could Accused of bribing government officials to help his business Seen as cold and uncaring. When asked by a newspaper reporter if the railroads shouldn’t be run for the public good (instead of profit), he replied, “Let the public be damned”