Hell Of Way To Run Railroad By Klein Essays - E. H. Harriman

Hell Of Way To Run Railroad By Klein Maury Klein's "A Hell of a Way to Run a Railroad," gives a new perspective of reliable transportation. During much of the 19th century railroads dominated the American industrial landscape. The railroad enabled people to travel farther and also more widely. The railroad was one of the greatest technological advancements of the 19th century. Two hundred thousand miles of track were laid by 1900. The railroad began to symbolize American prosperity. By the 1890s the rail industry was near collapse. Expansion during the 1880s caused rate wars that took the financial strengths of some of the strangest railroads. Regulation of the railroads was controlled by the Interstate Commerce Act of 1887. Railroads were the first industry to be watched under the federal government. Between 1893 and 1897 one fourth of the nations mileage sank into receivership. The railroads affected were the: Union Pacific, Northern Pacific, the Atchison, Topeka and Santa Fe, Erie, and the Philadelphia and Reading. For two decades rail managers had tried unsuccessfully for some form of regulation to take away the criticism put upon them. In the phrase of Albro Martin the leading railroad historian, "The final hour had struck for the Victorian Railroad Corporation" (2). The growth of the nineteenth-century rail system had relied on conditions unique to the era. As more railroads reached cities and towns competitive wars erupted that drove rates down despite efforts to maintain them. The railroads task was not to simply haul freight but to help create the towns, factories, and farms that would help generate the freight. The railroad industry had reached a turning point in its history. The question remained who would lead the railroad into the new era? E. H. Harriman would be the leader who brought the rail industry into the new era. Harriman was known as a skilled banker. Harriman was a bantam rooster with a fierce competitive streak in everything he did. During the 1880s Harriman had dabbed in smaller upstate New York railroads, but his role had been largely financial. Stuyvesant Fish landed him on the board of the Illinois Central when Fish needed allies to modernize the company's management and policies. Harriman became vice president. Tension between Harriman and Fish caused Harriman to resign as vice president. Harriman landed a seat on the executive committee of the Union Pacific Railroad in in 1897. By proving his abilities he was elected chairman in 1898. Harriman toured the rails of the Union Pacific. He traveled to the western part of the U.S. Harriman saw growth and prosperity coming towards the West. He telegraphed New York and requested 25 million dollars for equipment and improvements on the railroad. Over the next decade Harriman spent a staggering 160 million dollars modernizing Union Pacific at a time when the total expenditures by the federal government averaged only 561 million dollars a year. In the process he created the most efficient railroad in the West. Harriman faced the task of rebuilding older lines with shaky financial pasts. Harriman had his top engineer John B. Berry transform lines in Wyoming. Harriman invested large sums in automatic block signals, still an expensive rarity on American roads, but an innovation that made the handling and control of trains moving on the same tracks much more safe and efficient. "By 1909 the Harriman system had already installed more than five thousand miles of block signals; twelve years later only thirty-nine thousand miles of the nations railroads had them"(6). Between 1899 and 1909 the fleet of locomotive increased only 11 percent, and that of rolling stock 20 percent, yet the tonnage carried triplet over a system that had grown in mileage by 36 percent. In May of 1906 he went from San Fransico to New York in seventy-one hours and twenty-seven minutes. Harriman was amazed at how smoothly the track ran. Harriman was able to sell 208 million dollars worth of new bonds. Fixed charges increased by 3 million a year while net income jumped 125 percent and the surplus 188 percent. More a warrior than a diplomat, Harriman moved to impose his own brand of order. Harriman, his rival George Gould said "Aims to dominate, and if he don't like us he'll throw us out"(8). Harriman also took control of the Southern Pacific and 247 million to make the Southern Pacific equal to the Union Pacific. Harriman had led the rail industry into a new era and had helped modernize the railroad system. Dividends from the Union Pacific are still paying today. Harriman faced the

Must-Read Entrepreneurial Books For College Students

Must-Read Entrepreneurial Books For College Students Must-read entrepreneurial books for college students Entrepreneurship comes with a number of challenges and deciding to start your own business without any prior experience can be daunting and risky. Having a lucrative idea for the business venture is great but not enough. You will have a lot of obstacles to overcome, but even if you do, this will still not guarantee the success of your business. You will inevitably face many discouraging tough problems along the way, so being prepared for what might come can be a great practice. Learn from the experience of the successful businessmen who wrote about their failures and wins in their books, in order to know how to do it right and what business mistakes to avoid. The Innovator’s Dilemma by Clayton M. Christensen This book is revolutionary in its nature. The author approached the idea of company’s success by analyzing why it failed. It reminds that no executive or company is bulletproof, no matter how successful they are. Innovation, Commercialization, and Start-Ups in Life Sciences by James F. Jordan The book investigates how investment is intertwined with the process of delivering innovation. Referring to the real-life examples, the author describes the difficulties which young innovator may face after deciding to commercialize his product on the market. Pitch Your Business like a Pro by Victor Kwegyir If you are a student and would like to start your own business, it is quite likely that you have financial restraints. In such cases, an investor might be of help for your start-up. In order to get one you will have to own a great business pitching style, and if you do not have one at the moment, you will have to learn it. This book will help you acquire your own winning pitching style, and this will serve you good when you get into a serious business world. Speak to Win by Brian Tracy This is another one book that emphasizes the importance of great public speaking skills in a corporate world. Even if your product or idea is brilliant, failing to present what you offer in the best possible persuasive manner can cost you dearly. The author shares with great insights into peoples’ behavior and offers pieces of advice on how to become more confident and grow personally as well as professionally. Gamify: How Gamification Motivates People to Do Extraordinary Things by Brian Burke It is not a secret that in order for the employee to be productive at work, he needs to be motivated. However, many employers do not know how to do it correctly or simply underestimate the importance of the recognition of a job done well. To guide your team effectively, you need to know different encouraging techniques. Many pieces of advice listed in this book will help you lead your team to the success of your business. Setting up a business is always risky, especially if you are a startupper. Yes, you have a lot of determination and energy; you have a great idea and you are eager to present your unique product or service to the world. However, to be ready for the harsh business reality, it is better to be well-prepared. We are sure that the wisdom, which is shared by successful businessmen in the books that we listed, will help you get into the entrepreneurship as smoothly as possible.