John Pierpont Morgan Sr. was an American financier and banker who dominated corporate finance and industrial consolidation in the United States of America in the late 19th and early 20th centuries. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. He also played important roles in the formation of the United States Steel Corporation, International Harvester and AT&T. At the height of Morgan’s career during the early twentieth century, he and his partners had financial investments in many large corporations and had significant influence over the nation’s high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. Adrian Wooldridge characterized Morgan as America’s “greatest banker”. Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont Morgan Jr. His fortune was estimated at “only” $80 million, prompting John D. Rockefeller to say: “and to think, he wasn’t even a rich man”. read more…
Winter Olympics
The 2018 Winter Olympics, officially known as the XXIII Olympic Winter Games, and commonly known as PyeongChang 2018, is a major international multi-sport event scheduled to take place from 9 to 25 February 2018 in Pyeongchang County, South Korea. These will be South Korea’s second Olympic Games and its first Winter Games; Seoul hosted the Summer Games in 1988. Pyeongchang will be the third Asian city to host the Winter Games; the first two were in Japan, at Sapporo (1972) and Nagano (1998). read more…
Cornelius Vanderbilt, the railroad tycoon, by J. C. Buttre
Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), also known informally as “Commodore Vanderbilt”, was an American business magnate and philanthropist who built his wealth in railroads and shipping. Born poor and having only a mediocre education, Vanderbilt used perseverance, intelligence, and luck to work his way into leadership positions in the inland water trade and invest in the rapidly growing railroad industry. He is known for owning the New York Central Railroad. Cornelius Vanderbilt’s great-great-grandfather, Jan Aertson or Aertszoon (“Aert’s son”), was a Dutch farmer from the village of De Bilt in Utrecht, Netherlands, who emigrated to New York as an indentured servant in 1650. The Dutch van der (“of the”) was eventually added to Aertson’s village name to create “van der Bilt” (“of the Bilt”). This was eventually condensed to Vanderbilt. As one of the richest Americans in history and wealthiest figures overall, Vanderbilt was the patriarch of a wealthy, influential family. He provided the initial gift to found Vanderbilt University in Nashville, Tennessee. According to historian H. Roger Grant:
Contemporaries, too, often hated or feared Vanderbilt or at least considered him an unmannered brute. While Vanderbilt could be a rascal, combative and cunning, he was much more a builder than a wrecker. … being honorable, shrewd, and hard-working.
Otto Eduard Leopold, Prince of Bismarck, Duke of Lauenburg, known as Otto von Bismarck, was a conservative Prussian statesman who dominated German and European affairs from the 1860s until 1890. In the 1860s, he engineered a series of wars that unified the German states, deliberately excluding Austria, into a powerful German Empire under Prussian leadership. With that accomplished by 1871, he skillfully used balance of power diplomacy to maintain Germany’s position in a Europe which, despite many disputes and war scares, remained at peace. For historian Eric Hobsbawm, it was Bismarck who “remained undisputed world champion at the game of multilateral diplomatic chess for almost twenty years after 1871, [and] devoted himself exclusively, and successfully, to maintaining peace between the powers”. However, his annexation of Alsace-Lorraine gave new fuel to French nationalism and promoted Germanophobia in France. This helped set the stage for the First World War. read more…
Henry Morrison Flagler was an American industrialist and a founder of Standard Oil. He was also a key figure in the development of the Atlantic coast of Florida and founder of what became the Florida East Coast Railway. He is known as the father of St. Augustine, Miami, West Palm beach and Palm Beach. When looking back at Flagler’s life, after Flagler’s death, George W. Perkins, of J.P. Morgan & Co., reflected, “But that any man could have the genius to see of what this wilderness of waterless sand and underbrush was capable and then have the nerve to build a railroad here, is more marvelous than similar development anywhere else in the world.” Miami’s main east-west street is named Flagler Street and is the main shopping street in Downtown Miami. There is also a monument to him on Flagler Monument Island in Biscayne Bay in Miami; Flagler College and Flagler Hospital are named after him in St. Augustine. Flagler County and Flagler Beach in Florida and Flagler in Colorado are also named for him. Whitehall in Palm Beach is open to the public as the Henry Morrison Flagler Museum; his private railcar No. 91 is preserved inside a Beaux Arts pavilion built to look like a 19th-century railway palace. On February 24, 2006, a statue of Flagler was unveiled in Key West near the spot where the Oversea Railroad once terminated. Also, on July 28, 2006, a statue of Flagler was unveiled on the southeast steps of Miami’s Dade County Courthouse, located on Miami’s Flagler Street. read more…
The Union for the Mediterranean (UfM) is an intergovernmental organization of 43 countries from Europe and the Mediterranean Basin: the 28 member states of the European Union and 15 Mediterranean partner countries from North Africa, the Middle East (the western and middle part of the Middle East & North Africa region (MENA)) and Southeast Europe. It was created in July 2008 at the Paris Summit for the Mediterranean, with a view to reinforcing the Euro-Mediterranean Partnership (Euromed) that was set up in 1995 and known as the Barcelona Process. The Union has the aim of promoting stability and prosperity throughout the Mediterranean region. It is a forum for discussing regional strategic issues, based on the principles of shared ownership, shared decision-making and shared responsibility between the two shores of the Mediterranean. Its main goal is to increase both North-South and South-South integration in the Mediterranean region, in order to support the countries’ socioeconomic development and ensure stability in the region. The actions of the organization fall under three, interrelated priorities—regional human development, regional integration and regional stability. To this end, it identifies and supports regional projects and initiatives of different sizes, to which it gives its label, following a consensual decision among the forty-three countries. The region has 756 million inhabitants and is culinary very diverse (European cuisine, Mediterranean cuisine, Maghreb cuisine, Levantine cuisine, Middle-Eastern cuisine and Arab cuisine, traveller365.com: 22 Maps That Shows You The Most Delicious Dishes Around The World). read more…
Martin Luther (10 November 1483 – 18 February 1546), O.S.A., was a German professor of theology, composer, priest, monk and a seminal figure in the Protestant Reformation. Luther came to reject several teachings and practices of the Roman Catholic Church. He strongly disputed the Catholic view on indulgences as he understood it to be, that freedom from God’s punishment for sin could be purchased with money. Luther proposed an academic discussion of the practice and efficacy of indulgences in his Ninety-five Theses of 1517. His refusal to renounce all of his writings at the demand of Pope Leo X in 1520 and the Holy Roman Emperor Charles V at the Diet of Worms in 1521 resulted in his excommunication by the Pope and condemnation as an outlaw by the Emperor. read more…
Ernst Werner Siemens was a German inventor and industrialist. Siemens’s name has been adopted as the SI unit of electrical conductance, the siemens. He was also the founder of the electrical and telecommunications company Siemens. After finishing school, Siemens intended to study at the BauakademieBerlin. However, since his family was highly indebted and thus could not afford to pay the tuition fees, he chose to join the Prussian Military Academy‘s School of Artillery and Engineering, between the years 1835-1838, instead, where he received his officers training. Siemens was thought of as a good soldier, receiving various medals, and inventing electrically-charged sea mines, which were used to combat a Danish blockade of Kiel. read more…
Ernst Werner Siemens was a German inventor and industrialist. Siemens’s name has been adopted as the SI unit of electrical conductance, the siemens. He was also the founder of the electrical and telecommunications company Siemens. After finishing school, Siemens intended to study at the Bauakademie Berlin. However, since his family was highly indebted and thus could not afford to pay the tuition fees, he chose to join the Prussian Military Academy‘s School of Artillery and Engineering, between the years 1835-1838, instead, where he received his officers training. Siemens was thought of as a good soldier, receiving various medals, and inventing electrically-charged sea mines, which were used to combat a Danish blockade of Kiel. read more…
