Andrew Carnegie was one of these individuals. Although he was born poor, he did not let his financial disability get in the way of success. He started out his career at the bottom of the social latter. In fact his first job was working as a bobbin boy at a textile mill. He labored more than sixty hours a week receiving $1.20 for each week's work. As horrid as this seems, he displayed his potential by becoming Pittsburgh's fastest tele

graph reader. Unbelievably he read the telegraph by reading the sounds of the keys by ear. After decoding many of the city's business leader's messages, Carnegie developed an insider's view of their operations. Finally, in 1852 a superintendent of the Pennsylvania Railroad, Tom Scott, hired Carnegie as his secretary and personal telegrapher. He worked as the railroad's telegrapher for seven years until Scott was promoted to vice president of the company. This enabled Carnegie to be promoted to Scott's former position. Now that he had the ability to "stretch his legs" he showed just how valuable of an employee he was. He did this by doubling the company's road mileage and quadrupling its traffic. Not too long after, his annual income rose to almost $60,000! Even though Carnegie had already embodied the "rags to riches" dream he was not satisfied. In the 1870's he decided to build a steel mill. He furnished it with nothing but state of the art steel producing technology. He named it the J. Edgar Thompson Mill. With the combination of his management knowledge and intuition he learned how to produce steel much more cheaply than his competitors. He did this by salary cutbacks and by making sure no materials were wasted. "Watch the cost, and the profits will take care of themselves." This was his motto and what he firmly believed in. Because Carnegie could see the "big picture," he began vertical integration (controlling all aspects of manufacturing). This gave him the ability to control every thing from the extracting of raw materials to the selling of the finished product. Basically, Carnegie had built a monopoly (exclusive control over the entire steel commodity). By now Carnegie had help in running his company. Along with his business associates, he developed a partnership with Henry Clay Frick who eventually became the chairmen of Carnegie Steel. With Frick's leadership, profits constantly rose giving Carnegie more time to focus on his philanthropy. Carnegie felt that "fortunes corrupted their possessors", so he donated over three hundred million dollars to philanthropy projects! This funding helped establish foundations and proved to be beneficial to universities, libraries as well as his popularity. About ten years later, the aged Andrew Carnegie agreed to sell Carnegie Steel Company to J. Pierpont Morgan. It was agreed that Morgan would buy the company for five hundred million dollars. Once the transaction was complete, United States Stee

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