"By the way, Frank, what do you think is the biggest difference between the two parties?" Carnegie was in good spirits today and was always active. He didn't seem to be depressed at all because his property was about to change owners.

"One is acquisition, the other is mergers and acquisitions! As for financial resources, Morgan Alliance should have a slight advantage. After all, there is nothing more profitable than opening a bank." Frank was silent for a moment and said, "What Standard Oil and United want is mergers and acquisitions, occupying steel

The Morgans wanted to acquire most of the company's shares and establish an unprecedented steel alliance."

"Yes, that's their difference!" Carnegie smiled. The idea of ​​the Steel Alliance was actually not uncommon for a long time. For a long time in his life, the biggest enemy of the Steel Alliance was none other than him, the Steel King.

.

This kind of alliance has another more well-known name, called a cartel! A hundred years later, the most famous cartel in the world is undoubtedly OPEC. The cartel takes the expansion of overall interests as its main goal. In order to achieve this goal,

A series of agreements will be entered into within the cartel to determine the output of the entire cartel, product prices, designated sales and sales areas of each enterprise, etc. An organization composed of a series of independent enterprises that produce similar products, a collective action

Producers, the purpose is to increase the price of such products and control their output.

Carnegie's Steel Company has always been the biggest enemy of the cartel alliance, but in fact Carnegie Steel Company is indeed part of the cartel in a broad sense. Although its profits have always been the highest in the industry, it pays the smallest dividends and leaves the rest

Profits are reinvested in better factories, higher mechanization, and greater output. Falling product prices are great opportunities to expand market share - Carnegie's company expanded market share every time the market declined.

.

In most of these investments, Carnegie's firm was at the forefront, setting a steel price cap for competitors, and because they reinvested most of their earnings, others were forced to follow their lead.

Similar investments.

It can be said that Carnegie Steel Company is using the name of the cartel, and all it does is to disrupt the cartel and kick out other competitors in the steel industry one by one.

Carnegie took advantage of the recession cycle to kill off other cartel members one by one. This strategy was very similar to that of the Samsung Group in later generations. They took advantage of the economic depression to kill their competitors. There will be no more competitors. When the economic depression is over, the rest of the market will be

own.

Because Carnegie always did this, he was very indifferent to Morgan's move to integrate the steel order and establish the United States Steel Company. However, if no other competitors appeared, Carnegie would not resist Morgan's pressure. After all, as an industrial entity,

His steel company was at a serious disadvantage against some bankers.

That's why Carnegie thought of the Rockefeller family of Standard Oil, because Standard Oil and ** are in a competitive relationship in a sense, which starts with the development of electricity. Morgan is the main supporter of electricity.

Morgan wanted to spread electric light across the country. He and Edison had workers dig holes and bury more than 100,000 feet of thick copper wire. This connected Edison's power station to hundreds of homes and commercial buildings in New York, and Edison's power grid became

A model for American power transmission.

Before long, Edison's power grid covered half of Manhattan, electric lights lined both sides of the streets, and countless homes in New York were shining with electric light at night. The actions of Morgan and Edison had an impact on Rockefeller's kerosene business, because then

Any household connected to Edison's power grid was a lost customer for Rockefeller.

Rockefeller was shocked and launched a public relations campaign against electricity, promoting the dangers of this new technology and even causing death. Rockefeller said that electricity could lead to mass electrocutions and uncontrollable fires. He knew that as long as it could

By frightening the public, kerosene can continue to maintain its dominance as a light source.

The reason why Standard Oil vigorously internationalized was because of the pressure from Morgan to develop in the electrical field. In order to maintain profits while buying time for Standard Oil, Rockefeller and Morgan were far from inseparable.

But all this was broken by a southern giant. At first, this large southern landowner was also involved in electrification, but then with the progress in the automotive field, its interests became more consistent with Standard Oil. Carnegie saw all this.

I was also amazed in my heart, just like when Rockefeller seized oil, this young man from the South seized the automobile.

Carnegie did not hesitate to appreciate Sheffield. This appreciation established that he really wanted to leave. If his heart was still in his career, he would only be hostile to the emerging competition, no matter what field the competitor was in.

Before he left, he wanted to watch a grand performance and see Morgan and Rockefeller, who had been in front of him, beaten to death. He also wanted to see if the king of emerging industries in the south had any

What a brilliant performance.

"Little Morgan is here to raise the price. As I just said, you and I are already the enemies of the Morgans." After hearing the news that little Morgan led the delegation to Pittsburgh, Sheffield concluded that the matter was over.

No longer able to fool around with the past rhythm, he kept complaining to little Rockefeller, "You are dragging my company onto your family's chariot."

"William, you don't think that a company that has developed to this point will not offend any other companies, do you? Why don't you find a country with no competitors, and all industries are decided by you." Little Rockefeller chuckled.

, put his hands in his pockets and said, "Actually, who wants to offend an opponent like Morgan? I don't want to either. Just like the impact of electrification on oil lamps, Standard Oil can only accept it. Could it be that the development of electricity will not be affected by standards?"

If the oil business is affected, will it stop developing?"

Sheffield didn't say anything. Of course he knew that Rockefeller Jr.'s words made sense, but he really wanted the Morgans and his son to commit a crime once. Even if he let himself go, he always felt that he didn't have the strength to fight against the Morgan Alliance.

This extravagant hope was ruthlessly shattered by Rockefeller Jr., "For a company that started by buying and selling human labor, the heirs can't be so naive, expecting their opponents to get crazy and expand their own industries? How did the United Company grow to be so big?"

"I'm not naive, it's just that who is willing to spend more money on something that can be easily obtained!" Sheffield said with a cold face, "I don't have strong financing channels, and the United Banking industry in Los Angeles is not strong. At least with Rockefeller.

, Morgan and even Boston Bank, Carnegie’s banking friends cannot compare.”

The shortcomings of the United Company are really short, but they are just a little longer than the DuPont family, which is not involved in the financial industry at all. If you want the shortcomings to gradually become longer, doesn't it take time?

"Then let's raise the price and then retreat!" Young Rockefeller saw Sheffield's lack of confidence and said, "Let's set the goal to make Morgan pay more money to succeed."

"No, we're here! I don't know how many people are watching now!" Sheffield flatly refused, "If we pretend to resist and then evacuate, and such a big battle spreads, will Standard Oil and United Company still have any prestige?

If the federal court thinks that our merger is unreasonable, it would be okay to withdraw because we lost to the federal government. But on the other side is Morgan. If two of our big companies lose to a banker, will Morgan go to heaven?"

Just as the two of them were discussing due to the delegation brought by the little Morgan delegation, a loud noise came into their ears from outside the hotel. The bodyguard was asked to go out and take a look. After a while, Jesla returned, seeming a little embarrassed,

Don't know how to speak.

Finally, Sheffield had to take the initiative to ask, "What is going on? Is there a shooting?"

Sheffield thought there was a shooting case that is something we, the United States, like to see here.

"Boss, that's not it!" Jesla finally put away the strange expression on her face and said slowly, "They are people from the Carnegie Steel Company. They welcomed the team led by young Morgan and happened to choose the hotel they arranged.

At our hotel.”

Young Rockefeller and Sheffield looked at each other, and after a long silence with poker faces, they almost said at the same time, "On purpose..."

"That's right!" Another sentence blurted out at the same time. Both Rockefeller and Sheffield looked unkind and even looked at each other, meaning why do you always imitate me!

Putting two rival teams in the same hotel, who would believe that it was not intentional? The two of them could almost imagine that in the current Carnegie Steel Company headquarters office, the old man was laughing maniacally, waiting for the show to start.

This situation reminded Sheffield of the Iran-Iraq war, when the Iranian and Iraqi teams were arranged by the military factory to stay in a hotel.

But this is a trap, and the two of them can't leave now. Even if Carnegie has a bad idea, they still come out with a steel company valued at hundreds of millions and put it there. What to do!

"It seems that you said that the conflict between the Rockefeller family and Carnegie has been resolved a long time ago. It is just your unilateral opinion. At least Carnegie does not seem to think so!" Sheffield could only make fun of himself, facing the little Rockefeller with the same bad face.

Ridicule.

At this moment, someone from Carnegie Steel knocked on the door softly. After getting approval, he walked in politely, nodded to the two of them, and then said, "Dear Mr. John, Mr. William, I

The boss invited you two to have dinner.”
Chapter completed!