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Quotes of the Day for 18 February 2005 - Charles Schwab

Charles Michael Schwab was born at Williamsburg, Pennsylvania on this day in 1862. After graduating from high school in 1880 he went to work for Carnegie Steel as a "stake driver" in a mill. Within six months he had gone from unskilled labor to assistant plant manager, and in 1887 was superintendent of Carnegie's Homestead Works, then president of Carnegie Steel ten years later. Schwab, no relationship to the Charles R. Schwab of the stock brokerage firm, was the liaison between Carnegie and J. P. Morgan in the creation of U. S. Steel Corp in 1901 and then served as the firm's first president. Personality conflicts led him to leave three years later when he founded Bethlehem Steel, where he became known for motivating his workforce. When a plant engineer called his production goals crazy, Schwab told the man he'd pay off his mortgage when the furnaces reached his target; six months later the man owned his home outright. He gambled on creating the H-Beam for construction in 1908, which made the modern high-rise building possible and put Bethlehem in first place in the industry.

A man to carry on a successful business must have imagination. He must see things as in a vision, a dream of the whole thing.

Everyone's got it in him, if he'll only make up his mind and stick at it. None of us is born with a stop-valve on his powers or with a set limit to his capacities, There's no limit possible to the expansion of each one of us.

I consider my ability to arouse enthusiasm among men the greatest asset I possess. The way to develop the best that is in a man is by appreciation and encouragement.

I have yet to find the man, however exalted his station, who did not do better work and put forth greater effort under a spirit of approval than under a spirit of criticism.

The man who trims himself to suit everybody will soon whittle himself away.

Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead.
     - All from Charles M. Schwab, 1862 - 1939

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