The Founding Years
Jonathan Bell Lovelace was raised in Southern Alabama by a family who was in the timber business. He initially studied to become an architect at what was then Alabama Polytechnic (Currently Auburn University). After college, he enlisted in the military, working on a project that pioneered anti-aircraft artillery. Lovelace worked with E.E. MacCrone & Company, eventually becoming a partner. In 1929, Lovelace believed the stock market to be wildly overvalued and sold his stake in the company. In 1931, he founded an investment firm, Lovelace, Dennis & Renfrew, what would eventually become the Capital Group Companies.
Read more about this topic: Capital Group Companies
Famous quotes containing the words founding and/or years:
“The responsible business men of this country put their shoulders to the wheel. It is in response to this universal demand that we are founding today, All-American Airways.”
—John Dos Passos (1896–1970)
“There’s something like a line of gold thread running through a man’s words when he talks to his daughter, and gradually over the years it gets to be long enough for you pick up in your hands and weave into a cloth that feels like love itself. It’s another thing, though, to hold up that cloth for inspection.”
—John Gregory Brown (20th century)