Geniuses behind United States Steel Corporation, are they still admired today?

United States Steel Corporation was founded in 1901 by four of America’s most prominent businessmen. Andrew Carnegie, J.P. Morgan, Charles Schwab, and Elbert H. Gary combined to put $1.4 billion of capital into the company. All four of these men were affluent businessmen, who through previous success in the industry had made lasting imprints on the American business world. Because all four of these businessmen had achieved great success in different aspects of American business, they were able to respond to “changing economic conditions and new market opportunities through diversification and periodic restructuring” (Source). Through this, it is evident that between these four men, any problems that surfaced, they were able to handle with ease. Also, through their success in other ventures, Unites States Steel Corporation was able to 'stay ahead of the game', anticipating market changes and then being able to change their strategies to fit with the changing markets. Another aspect that demonstrates the ability of these four men was that in the Corporations first year of business, "U. S. Steel made 67 percent of all the steel produced in the United States" (Source). Because of the men's ability to think of the future and anticipate future economic 'twists and turns' they were major players in the American steel industry, as shown by them making 67 percent of all the steel that was produced in the Unites States in 1901. United States Steel Corporation is important today for many reasons. At the time, this was one of the first billion dollar corporations worldwide, making them a clear leader and model in their industry. Many corporations in following years emulated the United States Steel Corporations model for success and their business models. So, it can be said that this major corporation laid the foundation for which most businesses attempt to use the same ideas and methods. In conclusion, it is evident that the United States Steel Corporation, founded by, at the time, four of America's most successful businessmen achieved success and prominence by staying ahead of the curve and anticipating what the market will do in the near future, something that many businesses try to emulate today.

http://www.ussteel.com/corp/company/profile/history.asp