• Our insurance operations continued their delivery of costless capital that funds a myriad of other opportunities. This business produces “float” – money that doesn’t belong to us, but that we get to invest for…
• In total, our entire string of operating companies spent $8.2 billion for property, plant and equipment in 2011, smashing our previous record by more than $2 billion. About 95% of these outlays were made in the U.S.,…
• Our insurance operations continued their delivery of costless capital that funds a myriad of other opportunities. This business produces “float” – money that doesn’t belong to us, but that we get to invest for…
• In total, our entire string of operating companies spent $8.2 billion for property, plant and equipment in 2011, smashing our previous record by more than $2 billion. About 95% of these outlays were made in the U.S.,…
Andrew Carnegie:Autobiography of Andrew Carnegie, Excerpt 20
Andrew Carnegie《Autobiography of Andrew Carnegie》· Chapter III · Leadership
One great excitement of this life was the extra charge of ten cents which we were permitted to collect for messages delivered beyond a certain limit. These "dime messages," as might be expected, were anxiously watched, and quarrels arose among us as to the right of delivery. In some cases it was alleged boys had now and then taken a dime message out of turn. This was the only cause of serious trouble among us. By way of settlement I proposed that we should "pool" these messages and divide the cash equally at the end of each week. I was appointed treasurer. Peace and good-humor reigned ever afterwards. This pooling of extra earnings not being intended to create artificial prices was really coöperation. It was my first essay in financial organization.
• In total, our entire string of operating companies spent $8.2 billion for property, plant and equipment in 2011, smashing our previous record by more than $2 billion. About 95% of these outlays were made in the U.S.,…