Peter E. Greulich's Blog for Short Thoughts, Insights and Witticisms

Who—With What Ideals—Built Early American Capitalism?

2/21/2022

In January 1926, A. W. Shaw published in System: The Magazine of Business this survey. It is an amazing look inside the minds of some of America's greatest industrialists.

Image of Mount Rushmore with the question:

More must be done to develop a deeper, well-rounded understanding of—and admiration for—our country’s early business founders. We need to write of their trials, tribulations and successes. Writing figuratively: We need to etch their images in stone just as we have our early political founders.

If we do this, maybe our twenty-first century chief executives will once again—like their twentieth-century counterparts, learn to measure success by ideals and not by dollars and cents.

What and Who Advanced American Capitalism in the Early 20th Century?

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The Golden Rule in Business: IBM and J. C. Penney

2/14/2022

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Two men—J. C. (James Cash) Penney and Thomas J. Watson Sr.—from uniquely different backgrounds founded two of the 20th Century’s greatest corporate brands. These two men seemed unlikely kindred spirits.

Image of two skyscrapers rising above the clouds labeled

Yet operating independent of, and unknown to each other until later in life, they built two unique business brands—one in retail and one in business machines—on the same belief system: treat customers, employees, shareholders and society the way you want to be treated.

Select the image above or the link below to read the rest of the story: A Corporate 101 story.

Thomas J. Watson Sr. and J. C. Penney, and the golden rule

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A History Lesson in Confronting Anti-Semitism and Bigotry

2/7/2022

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In January of 1950, America’s press lit up with indignation over a Lafayette College benefactor’s last will and testament. His dying wish was to provide for his alma mater—as long as his benefaction did not provide scholarship money for a Catholic, a Jew, or any first-generation American.

The college’s president and lawyer initially implemented a way around the will’s discriminatory provisions—skirting the biased restrictions. The school intended to deposit all proceeds into the general endowment fund. This would enable the organization to avoid any discriminatory usage of the money—a legal, last-will-and-testament loophole.

A total sum of $140,000 brought to the forefront many of the same discussions we are still having seven decades later. Tom Watson Sr. was involved in this controversy.

Read the Full Article Here

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Who—With What Ideals—Built Early American Capitalism?

The Golden Rule in Business: IBM and J. C. Penney

A History Lesson in Confronting Anti-Semitism and Bigotry

Peter E. Greulich

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