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Richard W. Sears: Robber Baron or Industrial Titan?
Ch. 14 project
Transcript of Richard W. Sears: Robber Baron or Industrial Titan?
Who Was he? A man born on December 7, 1863 in Stewartville, Minnesota. He worked for the Minneapolis and St. Louis Railway after his father died (Sears was only 17.) He started when a local jeweler refused to pick up some watches. He asked and recieved permission from the company to sell the watches. He quickly sold them all to his co-workers. Richard W. Sears 1863-1914 In 1887, he joined with Alvah C. Roebuck In 1893, the headquarters of Sears, Roebuck and Co. was founded in Chicago. By the time he retired in 1909, the company was making annual sales of $40 million. A Titan or a Robber? A man who was creative with advertising, he put ads in farmers' publications. He allowed for COD (Cash on Delivery) and money-back guarantees to help gain his reputation as a 'trustworthy businessman.' He started his first company, the R.W. Sears Watch Company six months after gaining $5,000 in the watch sales. He was only 22. Julius Rosenwald helped the comapny with administrative skills, improving the customer service system He neglected his own company until Julius Rosenwald joined the company in 1895. Michael Dell With $1000, he started "PC's Limited." Sold directly to consumers. Customers able to customize computer before it was built. Captain of industry Adolph (Adi) Dassler Robber baron Started making spiked shoes by 1925 By 1959, Dassler held over 700 patents for his shoes. 1900- 1978 1965- In 2004 adidas bought Valley Apparel Company, a U.S. company that held licenses for outfitting more than 140 U.S. college athletic teams In 2005 they bought out Reebok. They are #2 in world-wide sales, Nike being in #1 Sam Walton Captain of industry, then Robber baron 1918-1992 Opened first Wal-Mart in 1962 Moved checkouts to the front near the exit Tried to keep stores clean, will-lit and included employes in profit-sharing. Tried to keep everything American. How did he start?Full transcript