Big_Business

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Warm-Up:

Warm-Up Should a business owner be allowed to buy out its competition and pay its workers very little?

Big Businesses:

Big Businesses Good or Bad for America?

Learning Targets:

Learning Targets I can explain how big businesses were both positive and negative for America. I can explain why anti-trust laws were passed. I can explain why labor unions were formed and determine whether or not they were successful in achieving their goals.

Slide 4:

What, wasn’t that exciting enough for you? Hmmm…

Slide 5:

I cry 10x/ day Everyone loves me!! That is why I am the only one left!!

Recap:

Recap Industrial Revolution Machines take artisans jobs New technology = new products Ex: Steel Transportation technology has improved Goods can be shipped long distances Large companies formed Machines produce large quantities Goods can be shipped throughout the country Big businesses lead to new problems

Most Efficient Worker (Deadliest Warrior Spin-off):

Most Efficient Worker (Deadliest Warrior Spin-off) vs. Handweaver Water Frame

Big Businesses:

Big Businesses Carnegie Steel Andrew Carnegie Standard Oil John D. Rockefeller Banking J. Pierpont Morgan Headed U.S. Steel Company 1st Billion $ company in America

Important Vocabulary:

Important Vocabulary Trust Group of corporations run by a single board of directors Ex: Rockefeller managed all companies in Standard Oil Monopoly When one group controls all or nearly all of the businesses in an industry Ex: Standard Oil controlled 95% of all oil refineries in America

Trusts:

Trusts

Two Viewpoints on Big Business:

Two Viewpoints on Big Business Free Enterprise America ’ s foundation Owners make decisions Hard work pays off in America! Government Control Trusts/Monopolies limited competition Businesses owners getting too strong Working conditions were terrible!

Slide 13:

If they don't help when you fail...

Slide 14:

Why should they get in your business when it succeeds?

Interventions on Big Business:

Interventions on Big Business From Government and Civilians

Interventions:

Interventions Government Anti-Trust Laws Sherman Anti-Trust Act 1890 Banned trusts and monopolies Businesses found loopholes These laws were mostly unsuccessful

Labor Unions:

Labor Unions Workers from a specific trade who band together Things fought for by unions: Improved pay Better working conditions Safer work environment Fewer hours/ week Methods: Rallies and meetings Strikes Successful? Not overly in the beginning

Homestead Steel Strike:

Homestead Steel Strike Most famous strike in Pittsburgh Steel prices were dropping Carnegie Steel ’ s profits were going to drop Henry Clay Frick cut workers salary To keep profits up To break a union Workers got angry and planned a strike Carnegie was prepared He had extra steel produced ahead of time Told Frick to wait it out “ We…approve of anything you do. ”

Homestead Strike Continued...:

Homestead Strike Continued... Contract negotiations were not liked by workers Frick wouldn ’ t accept union members, but would work with individuals Union members were very angry Frick locked out workers and built a fence around the plant “ Fort Frick ” And then….

The Confrontation:

The Confrontation Frick called in 300 Pinkerton ’ s Armed guards Thousands of workers arrived Gun fight ensued 3 Pinkerton ’ s died 9 workers died State militia is called in

End Result of This Strike:

End Result of This Strike Strikebreakers called in to work Scabs Strike leaders were blacklisted Couldn ’ t get a job! Union was crushed Unsuccessful! Carnegie ’ s reputation was damaged

Overall Change to Big Business:

Overall Change to Big Business Very little! Unions were very unsuccessful Very unpopular to the general public Labor improvements occurred slowly Not until the 1900s Large corporations were limited in very few instances It would take new leadership and greater support to make real change Which brings us to….

Target Practice:

Target Practice How were big businesses positive for America? What were some negative aspects to big businesses in America Why were labor unions formed? Were labor unions very successful in the 1800s?

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