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Old 09-09-2010, 10:22 PM   #48
Montana Moe
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Team U.S.Eh! selects John D. Rockefeller in the Businessman/Entrepreneur Category



Quote:
John D. Rockefeller tamed the early wildcat oil economy and replaced it with a smoothly-functioning--if vaguely sinister--international machine. "The day of combination is here to stay," he once said, "individualism has gone, never to return."

Rockefeller built Standard Oil by borrowing heavily to fund acquisitions and ruthlessly cutting costs. As historian Gerald Gunderson writes, refineries were consolidated at larger, more efficient locations and tied into new pipelines. Rockefeller also colluded with the major railroad owners to have his product shipped more cheaply than his competitors. Standard Oil eventually became the No. 1 target of the anti-monopolists in government. It was broken into 34 pieces in a landmark 1911 Supreme Court case. The decision set a precedent that would make antitrust policy a major force in America and throughout the world.
http://www.forbes.com/2004/03/12/cx_...ellerpoll.html

Quote:
John Davison Rockefeller (July 8, 1839 – May 23, 1937) was an American oil magnate. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy. In 1870, he founded the Standard Oil Company and aggressively ran it until he officially retired in 1897.[1] Standard Oil began as an Ohio partnership formed by John D. Rockefeller, his brother William Rockefeller, Henry Flagler, Jabez Bostwick, chemist Samuel Andrews, and a silent partner, Stephen V. Harkness. As kerosene and gasoline grew in importance, Rockefeller's wealth soared, and he became the world's richest man and first American worth more than a billion dollars.[2] Adjusting for inflation, he is often regarded as the richest person in history.[3][4][5][6]
Rockefeller spent the last 40 years of his life in retirement. His fortune was mainly used to create the modern systematic approach of targeted philanthropy with foundations that had a major effect on medicine, education, and scientific research.[citation needed]
His foundations pioneered the development of medical research, and were instrumental in the eradication of hookworm and yellow fever. He is also the founder of both the University of Chicago and Rockefeller University. He was a devoted Northern Baptist and supported many church-based institutions throughout his life. Rockefeller adhered to total abstinence from alcohol and tobacco throughout his life.
http://en.wikipedia.org/wiki/John_D_Rockefeller
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