Prominent Businessman
All through the 1890s, FTF continued his rise in the Carnegie companies, with the full trust and confidence of everyone in the inner circle. However, Carnegie and Frick had a falling out over the management and direction of the companies, resulting in a lawsuit by Frick against Carnegie. FTF, in order to resolve this matter, took the radical step of resigning all of his positions, thereby becoming a neutral party, trusted by all sides, and worked out the "new agreement," as it was known, under which the United State Steel Company was to be formed. FTF later invested his substantial assets into gold mining interests in Idaho.
Read more about this topic: F. T. F. Lovejoy
Famous quotes containing the words prominent and/or businessman:
“The worst enemy of good government is not our ignorant foreign voter, but our educated domestic railroad president, our prominent business man, our leading lawyer.”
—John Jay Chapman (1862–1933)
“If when a businessman speaks of minority employment, or air pollution, or poverty, he speaks in the language of a certified public accountant analyzing a corporate balance sheet, who is to know that he understands the human problems behind the statistical ones? If the businessman would stop talking like a computer printout or a page from the corporate annual report, other people would stop thinking he had a cash register for a heart. It is as simple as that—but that isn’t simple.”
—Louis B. Lundborg (1906–1981)