Joseph Kennedy: Patriarch of a Political Clan

Joseph “Joe” Kennedy Sr. Was an American investor, businessman and politician. He was the father of US President John F. Kennedy, US Senators Robert F. Kennedy and Edward M. Kennedy, US Navy officer Joseph Kennedy Jr., Special Olympics co-founder Eunice Kennedy, and former US Ambassador to Ireland Jean Kennedy.

At the height of his political career, Kennedy was a prominent member of the Democratic Party. He also became the inaugural chairman of the Securities and Exchange Commission through the appointment of President Franklin D. Roosevelt (FDR). He also served as director of the Maritime Commission and became the former US Ambassador to the UK.

Kennedy started building his fortunes by investing in the stock market, in real estate, in commodities, and many other industries. When the World War I erupted, Kennedy was the assistant general manager of Bethlehem Steel shipyard, where he developed deep friendship with FDR. Kennedy reorganized and refinanced a number of Hollywood studios in the 1920s where he earned huge profits.

In 1933, Kennedy travelled with FDR’s son James to Scotland to purchase distribution rights for Scotch whisky after the Prohibition was lifted. Later, Kennedy’s company Somerset Importers was awarded exclusive rights to distribute Dewar’s Scotch and Gordon’s Gin.

Kennedy’s political ambitions were abruptly halted in November 1940 during the Battle of Britain. After his resignation, Kennedy worked behind the scene, helping the Kennedy family build their political and financial fortunes.

Minor Cooper Keith: The Man Who Became a De Facto Owner of a Considerable Portion of Costa Rica

Minor Cooper Keith was an American entrepreneur who was greatly involved in the development of commercial agriculture, railroads and shipping in most economies in Central America and in Colombia. Keith pioneered the efforts in establishing and administering a multinational company that imports and exports goods to and fro the US and countries around the Caribbean Sea.

Keith was born on January 19, 1848 in Brooklyn, New York. He was educated in a private school. At sixteen, Keith worked in a Broadway store as sales clerk but had to quit the job months later in favor of a new job as lumber surveyor. In one year’s work, Keith was able to save $3,000, which he used to purchase a cattle ranch in a rover island near the Rio Grande opening in southern Texas.  He managed his ranch until 1871 when he received an invitation to join to join his uncle Henry Meiggs in the construction of a railroad in Costa Rica.

President Tomás Guardia Gutierrez of Costa Rica awarded Meiggs with a contract to construct to build a railroad from San José to what eventually became the port to the Caribbean in Limón. Keith got involved in the project and had to take over following the death of Meiggs in 1877.

Costa Rica’s economy at that time was focused on exportation of coffee. The coffee products were transported from the central valley to the Puntarenas port by oxcart. There is not a canal that connects the Atlantic and the Pacific Oceans so that in order to transport the products to Europe which was the main market at that time, the Costa Rican government should prioritize creating a route to the Caribbean.

Soon, the railroad project was financially challenged, aside from the difficult terrains, torrential rains, thick jungle and the malaria, dysentery and yellow fever epidemic that hit Keith’s team. In the first 25 miles of track, Keith lost three of his brothers and a number of workers due to various diseases. When he had difficulty recruiting Costa Ricans, Keith has to bring in Jamaican, Chinese and Italian workers to finish the project.

Financially hard up, the Costa Rican government defaulted in paying its obligations to Keith and the London banks where Keith borrowed funds to spend on the railroad. On his own, Keith raised funds of £1.2 million from investors and banks. He also negotiated to reduce the interest on the prior borrowings made by the Costa Rican government.

In exchange for his efforts, Costa Rican President Próspero Fernández Oreamuno awarded an 800,000 acre land located along the railroad, tax free. He was also awarded a 99-year lease to operate the train route. Instantly, Keith became a de facto owner of 5% of the territory of Costa Rica.

Keith also became involved in banana trading, gold mining, general trade retailing and poultry raising.

Donna Karan: The Queen of Seventh Avenue

Donna Karan is an American fashion designer who created the clothing label DKNY, which actually stands for Donna Karan New York. Karan was born on October 2, 1948. She attended the Parsons School of Design.

After college, Karan joined Anne Klein and eventually became the company’s head of the design team. She worked with Anne Klein until 1985 when she decided to create the Donna Karan label.

Karan was joined by her husband Stephan Weiss in building DKNY. Her mission was “to design modern clothes for modern people.” Karan launched her first clothing collection for women in 1985.

DKNY became known for its “Essentials” line. Initially, the line offered seven pieces that can easily be mixed and matched. Karan insisted that the clothing lines she will design and produce are those that she is willing to wear herself.

Karan earned the moniker “The Queen of Seventh Avenue” as her DKNY created affordable lines for younger women. After two years, DKNY started producing denim jeans. Karan also ventured to fragrances.

Henry John Kaiser: Father of Modern American Shipbuilding

Henry John Kaiser was an American industrialist. He was more popularly known as the father of modern American shipbuilding. He founded the Kaiser Shipyard, which became the major supplier of Liberty ships during the World War II. Kaiser also founded other businesses and companies, including Kaiser Steel, Kaiser Aluminum, Kaiser Permanente, Kaiser-Frazer, and Kaiser Motors.

Kaiser was born in Sprout Brook, New York on May 9, 1882. His first job was a photography apprentice. At 20, Kaiser operated his own studio. With his savings, Kaiser moved to Washington to establish his own construction company. He became a contractor for government projects.

In 1906, Kaiser moved to the West Coast. A few years later, Kaiser opened a paving company. Kaiser’s company was one of the first construction companies to use heavy construction equipment. His greatest break happened in 1927 when his company was awarded a $20-million contract to pave roads in Cuba. Kaiser’s next break happened in 1931 when he was involved in the construction of Colorado River’s Hoover Dam, and Columbia River’s Bonneville Dam and Grand Coulee Dam.

Although he did not build ships before, Kaiser built shipyards in Tacoma and Seattle. He developed a new technique in shipbuilding – using welding instead of rivets. During the World War II, Kaiser Shipyard in Richmond, California built cargo ships. His technique produced each ship at an average of 45 days. These ships were known as Liberty ships.

Kaiser rose to popularity after he set a record of building a ship in four days. On November 8, 1942, Kaiser laid the keel of Robert E. Peary. The ship was launched from the shipyard in Richmond, California on November 12, four days and 15.5 hours later. Kaiser broke the previous record of ten days, which was held by the Liberty ship Joseph M. Teal.

Andrea Jung: Modern Face of Woman Power

Andrea Jung is a Canadian-American business executive and a prominent advocate of women’s issues. She was more popularly known as the former CEO of Avon Products while simultaneously serving as the executive chairman of the board until her forced resignation in 2012. She has long been the face and icon of the company.

Jung’s mother was a pianist. Her father was an architect who once became a professor at Massachusetts Institute of Technology. Jung grew up in Wellesley, Massachusetts. She graduated from Princeton University as a magna cum laude.

Jung started her career with Neiman Marcus as executive vice president. She was handling issues on children’s wear, intimate women’s apparel, accessories and cosmetics. In 1994, Jung moved to Avon Products as president of product marketing. In 1996, she was promoted to the position of president of global marketing. Her responsibilities included market research and strategic planning. Eventually, Jung became Avon Products’ CEO.

Controversies around the company’s dropping shares forced Jung to resign in December 2011. This happened despite Jung’s inclusion in the Forbes 100 Most Powerful Women list.

Otto Hermann Kahn: Fulfilling a Father’s Dream

Otto Hermann Kahn was a German-born American banker, philanthropist, and art collector. He was born on February 21, 1867 to Jewish parents. He grew up in Mannheim, Germany. When the revolution of 1848 was over, his father became a US refugee. His father returned to Germany after earning his US citizenship.

As a little boy, Kahn wanted to be a musician. Even before his graduation from a gymnasium in Mannheim, Kahn learned to play a number of musical instruments. However, his father set the career path of all his eight children.  He wanted Kahn to be a banker. When he was 17, Kahn had to work for three years as junior clerk at a Karlsruhe bank. He became thoroughly grounded in the intricate world of finances. Later, he served kaiser’s hussars for one year.

After his short stint with the hussars, Kahn worked with the London agency of Deutsche Bank for five years. There, he displayed exceptional talents and became the second in command at such a short time. The English social and political lifestyle appealed to him, and Kahn became a naturalized British subject.

Kahn went to the US in 1893 after he was invited to join Speyer and Company in New York City. He married Addie Wolff in January 1896. One year later, Kahn joined his father-in-law at Kuhn, Loeb & Co. Kahn gave up his British citizenship in 1917 to become a US citizen.

Kahn’s association with his father-in-law created many connections for him. One of the most prominent of them was railroad builder E.H. Harriman. Although Kahn and Harriman had many differences in methods and temperament, they were close as brothers. They reorganized the Union Pacific Railroad where Kahn demonstrated his ability to mathematically and scientifically analyze and solve problems.

Because of his keen business acumen, Kahn became known as the ablest railroad reorganizer in the US. He had associations with railroads such as Texas and Pacific Railroad, Chicago and Eastern Illinois Railroad, Wabash Railroad, Missouri Pacific Railroad and Baltimore and Ohio Railroad. He promptly and vigorously acted each time there is an imminent financial panic.

Kahn suffered from complications of arteriosclerosis. He died of heart attack on March 29, 1934 at 67.

Alan Sugar: The Baron of Success

Alan Michael Sugar, also known as Baron Sugar, is an English media personality, political advisor, and business magnate. He is said to have an estimated fortune of £770 million, which is equivalent to about 1.14 billion USD. He was also ranked 89th in the Sunday Times Rich List 2011.

Sugar was born in Hackney, east London. He was from a Jewish family and is the youngest of four children. When he was young, his family lived in a council flat. After leaving school when he was 16, he worked as a statistician at the Ministry of Education. He also began to sell car aerials and electrical goods out of a van that he had bought from his savings of £50.

Sugar was the chairman of Tottenham Hotspur from 1991 to 2001. He can be seen in BBC’s The Apprentice, which is based upon the popular TV series of the same title.

Nicholas Woodman: Innovation Inspired by Surfing

Nicholas “Nick” Woodman, founder and CEO of GoPro, a digital camera manufacturer, is one of the recent members of the Forbes 400 list of Richest Americans. His net worth is over $1.3 billion and his company is still going strong.

Nick’s fortunes were built on a common device – a digital camera. If you’re wondering how he was able to compete with giant manufacturers in the industry, the answer is simple – innovation. Lots of people get inspired to innovate from hundreds of different things or events in their lives. Nick’s inspiration was surfing. 

While recovering from a failed business venture called funBag, Nick decided to focus his attention on surfing. He travelled the world in search of the best surfing destinations. On one of his trips, Nick discovered that it was an amateur photographer’s dream to capture surfing action up close. At that time, he was using a digital camera strapped to his hand with a rubber band while riding the waves. After that, an idea was born. He decided to create digital cameras that people could wear. 

His idea led to the birth of a new company called GoPro. Nick worked 18-hour days to create the camera’s design. With a small amount of funds, he was able to gather with his wife, Nick started producing the cameras and selling them wherever he could. 

While participating in a sports show in 2004, Nick grabbed his first large-scale order of 100 units from a Japanese company. His product was starting to get worldwide attention and in 2012, a Taiwanese Company called Foxxcom invested $200 million dollars in GoPro. 

GoPro has been a statement of success from day one. After the first large-scale order in 2004, the company has been doubling their sales almost every year. Today, the company makes billions of dollars a year in sales, and this keeps on adding to Nick’s billion-dollar fortune. 

Tom Johnson: Blend of Business and Politics

Thomas Loftin Johnson was an American democrat who became a US representative, mayor of Cleveland, Ohio, and was nominated to run for the Democrats as Ohio Governor in 1903.

More popularly known as Tom, Johnson was born on July 18, 1854 to a wealthy family. He had a very limited formal education, though. His first job was with a street railway company. He owned the patent for trolley pay-box. This invention gave him a huge fortune. Soon, Johnson started investing in railways in many parts of the US such as Detroit, Cleveland, and Indianapolis.

Johnson’s lines became profitable, especially when he introduced fares and transfers. Eventually, Johnson became the owner and president of Detroit City Railways. In 1899, he sold his stakes in Detroit City Railway and moved to Cleveland and joined politics there.

Among his political advocacies included the endorsement of the Kansas City platform and public ownership of public utilities. Johnson retired from politics in 1910.