Robert Forbes: Connecting US to the Pacific Region

Captain Robert Forbes was an American ship owner, merchant and writer. His trades and activities included ship building, maritime safety, opium trade and philanthropy. Forbes was born in Boston, Massachusetts in 1804. Most of his fortunes were derived from his involvements in the opium trade. Forbes played a significant role in the Opium War. In spite of his attachments to opium trading, Forbes had active participation in charitable activities. In 1847, Forbes commandeered USS Jamestown to deliver food to Irish families who are suffering from famine.

On October 19, 1817, when Forbes was just thirteen years old, he boarded Canton Packet and made his first voyage to China. In March of the following year, he arrived at Canton via the eastern passage. According to his own narrative, Forbes said his connection with Canton was the beginning of his fortunes.

Forbes returned to Boston in June 1818. A year later, Forbes made his second journey to China on board the Canton Packet. While on board the ship, Forbes did a thorough study of maritime navigation. On his third trip, he earned the rank of third mate. He became second mate in 1821 and in 1825, he became the master of Nile.

While on the helm of Nile, Forbes travelled to Manila, Philippines. From Manila, Forbes maneuvered Nile to China, then California, all the way to Buenos Aires, and landing in Boston. It was a long trip but the trading was successful.

Forbes did his last trip to China in 1832. In 1840, he became the CEO of Russell & Company, China’s largest American commercial house at that time. His stint at Russell & Company allowed him to provide for his mother and brother. While in Canton, Forbes served as American vice consul. He continued successful trades and voyages between the US, Europe, South America and China.

Henry Flagler: Disappointments that Led to Great Business Ventures

Henry Morrison Flagler was an American real estate developer and financier. He was born in 1860 in New York. He started as a salt and grain businessman. Later, he ventured into oil refining with John Rockefeller.

Flagler’s partnership with Rockefeller was known as Rockefeller, Andrews and Flagler. In 1870, the firm was renamed Standard Oil Company. Flagler served as Standard’s vice president until his resignation in 1908. Flagler was Rockefeller’s closest business associate.

In 1883, Flagler visited Florida only to be disappointed by the inadequacy of hotel facilities and transport system. However, Flagler’s disappointment became a business opportunity. He acquired a number of railroads and consolidated them to a new company known as Florida East Coast Railway. The railway covered Daytona through Palm Beach, Miami and Key West. He organized steamships in the Miami harbor. He built a few hotels and established that made Florida the winter playground in US.

Flagler was a philanthropist who donated gifts to build churches, schools and hospitals. He used his millions to invest in Florida’s economy to make is a fast-growing state.

James Fisk Jr.: Shrewdness Has Positive Impact

James Fisk Jr. was an American corporate executive and stockbroker who became popular with the monikers “Jubilee Jim”, Diamond Jim”, and “Big Jim”. He was also oftentimes known as one of the Gilded Age’s “robber barons”.

Fisk was born on April 1, 1835 in Bennington County, Vermont. He stayed in school only for a brief period of time. In 1850, Fisk ran away to join the Mammoth Circus and Managerie. Fisk’s father was a peddler. Later on, Fisk joined his father in his peddling business. He used his experiences with the circus in peddling. Soon, his father’s business grew.

Soon, Fisk worked as a salesman for Jordan Marsh, a dry goods business based in Boston. He did not perform well as a salesman, so he moved to Washington D.C. in 2861 where he sold textiles to the government. Fisk was a shrewd businessman. He had exclusive contracts with the Army for the supply of textiles during the Civil War. He smuggled cotton across enemy lines. He accumulated much wealth for his shrewdness.

Daniel Drew employed Fisk in 1864 and became a stockbroker. When Drew got into a battle with Cornelius Vanderbilt for the control of Erie Railroad, Fisk played a significant role to help Drew. Drew won the battle and Fisk became a Director of Erie Railroad later.

Fisk and fellow director Jay Gould were alleged to have been involved in extreme financial buccaneering. Among these manipulations included open alliance with Boss Tweed, a New York politician, and bribery of legislators and judges. Fisk and Gould were linked to the September 24, 1869 Black Friday for cornering the gold market. Many investors were ruined but Fisk and Gould were able to escape without any financial harm.

Fisk was just 19 years old when he married Lucy Moore in 1854. Fisk had extramarital affairs but they stayed close to each other. They used to spend vacations and summers together.

Carl Fisher’s Participation in Road and Racetrack Building

Carl Fisher was an American entrepreneur who developed roadways, racetracks and resorts. He was born in Greensburg, Indianapolis on January 12, 1874. He worked in a local grocery store at 12 years old. In a few years, Fisher owned a bicycle shop, and eventually a car dealership.

In 1904, Fisher opened his Prest-O-Light company to sell headlights to car manufacturers in the US. He sold the company in 1913 for $9 million to build a race track and an automobile testing ground.

Soon, Fisher owned the Indianapolis Motor Speedway, which held its first race on August 19, 1909. Because of an accident that killed six people on his race track, Fisher paved the track with bricks, which was estimated to be 3.2 million pieces.

Fisher hosted the first International Sweepstakes race on May 30, 1911. The race was later on known as Indianapolis 500, which eventually became an annual event in the US.

Fisher was also linked to the construction of the Lincoln Highway. He also helped develop Miami Beach into a vacation resort that it is known today.

Edward Filene: A Social Entrepreneur

Edward Filene was an American social entrepreneur who was known for founding a department store chain, Filene’s. He pioneered credit unions that made trade more dynamic in the US.

Filene was born in Salem, Massachusetts on September 3, 1860. When he was in high school, Filene worked for his father’s store in the evenings, during weekends and in summer breaks. He joined Harvard University but midway through his college education, Filene was forced to quit school to take over the family’s business following his father’s failing physical health. Quitting Harvard was one of Filene’s greatest disappointments.

With the help of his brother Abraham, Filene reorganized his father’s business and formed the William Filene’s Sons Company, which became Filene’s later on. In 1909, Filene introduced the “Automatic Bargain Basement” where unsold items are moved to the basement as the prices go down. When the goods remain unsold, they were donated to charities.

Filene’s management inspiration was Frederick Winslow Taylor. Taylor was known for scientific methods that designed to increase efficiency in the workplace. On his part, Filene refined some underutilized techniques and used them on Filene’s Department Store. His stores dealt with the customers with all honesty, offering to return the customers’ “money back if not satisfied”.

Actually, Filene’s Basement was not the first of its kind in the US. However, the retail designs and the automatic markdowns increased consumers’ excitement and proved to be profitable in the long run. Filene himself oversaw the construction of his first basement located in Boston. His advocacy in consumer education led him to introduce color coding in his department stores.

Filene was also the pioneer in employee relations that many of the modern workers still enjoy today. Some of the employee benefits include profit sharing, minimum wage for female workers, health clinics, the 40-hour work week, and paid vacations. He encouraged unions by creating the Filene Cooperative Association. He also established a savings and loan association for his workers, which was later known as Filene Employees’ Credit Union.

Harvey Samuel Firestone: Rubber Tires made the Difference

Harvey Samuel Firestone was a businessman who founded one of the first producers of automobile tires, the Firestone Tire and Rubber Company. He was born on December 20, 1868 in Columbiana, Ohio. Firestone was the second of three sons of Benjamin and Catherine Firestone.

Firestone finished high school at Columbiana High School. He once worked for Columbus Buggy Company. In 1890, Firestone founded a company that produces tires for carriages, the Firestone Tire and Rubber Company. Firestone also published Men and Rubber: The Story of Business, the book which Firestone wrote with Samuel Crowther.

Along with Henry Ford and Thomas Edison, Firestone was considered as one of the three leaders of American industries at a certain point in time. They were a part of “The Millionaire’s Club,” an exclusive group.

The Princeton University named its library as Firestone Library, in honor of Firestone. The Firestone Library is one of the world’s largest university libraries. Firestone was an inductee to the Automotive Hall of Fame.