Are You Currently Running Your Enterprise Like Eeyore?... Or Like Tigger?3257627
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To Summarize This Decades Long Battle: In 1911 The US Government Tried Unsuccessfully To Break The Monopoly Of US Steel, The Very First Billion Dollar Corporation In History & A Company Symbolic Of The High Tide Of Banker Power In America. It Was Largely Run By Rockefeller Through JP Morgan.
Soon The Rice And Vegetable Farmers Started To Laugh At The Bamboo Farmer For Being So Foolish Because Bamboo Takes Three Years To Grow But This Did Not Dampen The Mood And Motivation Of The Bamboo Farmer Because He Truly Believe In What He Is Doing.
In March Of 1962 President Kennedy Persuaded The United Steel Workers To Accept A Contract He Hailed As "noninflationary." A Few Days Later, The United States Steel Corporation Announced An Increase Of 3.5% In Its Prices, And Most Other Steel Companies Did Likewise. US Steel, Who Had Fought Unionization For Decades, Punked The United Steel Workers And Punked The US President. In The Three Days That Followed, Kennedy Put Intense Pressure On US Steel.
The Administration Replied That The Dividends Paid To The Stockholders Of The Steel Corporations In 195861 Were 17% Higher Than Those Paid In 195457. The Steel Industry Rejoined That Profits Had Exceeded 1 Billion In 1959, But That They Had Fallen To 807 Million In 1961, Endangering Investment Possibilities, The Future Of The Steel Corporations, And Consequently The Future Of American Industry. But, Faced With FBI Investigations, The Pressure Of Public Opinion, And The Cancellation Of Government Contracts, It Yielded And Revoked The Increase.
When President Kennedy Took On US Steel It Was A Clash With All The Titans. Donald Gibson Describes This Clash In His Excellent Book "Battling Wall Street." And Laura KnightJadczyk Discusses It In Her Excellent Article "John F. Kennedy And The Titans." These Are Two Exceptional Resources Where Kennedy's Support Of Labor Unions Is Illuminated.
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