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)
“Without any extraordinary effort of genius, I have discovered that nature was the same three thousand years ago as at present; that men were but men then as well as now; that modes and customs vary often, but that human nature is always the same. And I can no more suppose, that men were better, braver, or wiser, fifteen hundred or three thousand years ago, than I can suppose that the animals or vegetables were better than they are now.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)