Biography of Jay Gould, Notorious Robber Baron

Jay Gould (born Jason  Gould; May 27, 1836–December 2, 1892) was a businessman who came to personify the robber baron in the late 19th century. Over the course of his career, Gould made and lost several fortunes as a railroad executive, financier, and speculator. Gould had a reputation for ruthless business tactics, many of which would be illegal today,  and during his lifetime he was often thought to be the most despised man in the nation. Fast Facts: Jay Gould Known For:  Jay Gould was known as an unscrupulous robber baron in the late 19th century.Also Known As:  Jason  GouldBorn:  May 27, 1836 in Roxbury, New YorkParents: Mary More and John Burr Gould  Died:  December 2, 1892 in New York, New YorkEducation: Local schools, Hobart Academy, self-taught in surveying and mathematicsPublished Works:  History of Delaware County, and Border Wars of New YorkSpouse(s): Helen Day MillerChildren: George Jay Gould I, Edwin Gould, Sr., Helen Gould, Howard, Gould, Anna Gould, Frank Jay GouldNotable Quote: My idea is, that if capital and labor are left alone they will mutually regulate each other. Early Life Jayson â€Å"Jay† Gould was born into a farming family in Roxbury, New York, on May 27, 1836. He attended a local school and learned basic subjects. He was self-taught in surveying and in his late teens he was employed making maps of counties in New York State. He also worked for a time in a blacksmith shop before becoming involved in a leather tanning business in northern Pennsylvania. Wall Street Gould moved to New York City in the 1850s and began learning the ways of Wall Street. The stock market was largely unregulated at the time, and Gould became adept at manipulating stocks. Gould was ruthless at using techniques such as cornering a stock, by which he could drive prices up and ruin speculators who were â€Å"short† on the stock, betting the price would go down. It was widely believed that Gould would bribe politicians and judges and was thereby able to skirt whatever laws might have curtailed his unethical practices. A story that circulated in Goulds time about his early career was that he led his partner in the leather business, Charles Leupp, into reckless stock transactions. Goulds unscrupulous activities led to Leupps financial ruin, and he killed himself in his mansion on Madison Avenue in New York City. The Erie War In 1867 Gould obtained a position on the board of the Erie Railroad and began working with Daniel Drew, who had been manipulating stocks on Wall Street for decades. Drew controlled the railroad, along with a younger associate, the flamboyant Jim Fisk. Gould and Fisk were nearly opposite in character, but they became friends and partners. Fisk was prone to attracting attention with very public stunts. And while Gould genuinely seemed to like Fisk, historians speculate that Gould saw value in having a partner who drew attention away from him. With scheming led by Gould, the men became involved in a war for control of the Erie Railroad with the richest man in America, Cornelius Vanderbilt. The Erie War played out as a bizarre spectacle of business intrigue and public drama. At one point, Gould, Fisk, and Drew fled to a hotel in New Jersey to be beyond the reach of the New York legal authorities. As Fisk put on a public show, giving lively interviews to the press, Gould arranged to bribe politicians in Albany, New York, the state capital. The struggle for control of the railroad finally reached a confusing end, as Gould and Fisk met with Vanderbilt and worked out an agreement. Ultimately the railroad fell into the hands of Gould, though he was happy to let Fisk, dubbed the â€Å"Prince of Erie,† be its public face. The Gold Corner In the late 1860s, Gould noticed some quirks in the way the gold market fluctuated, and he devised a scheme to corner gold. The intricate scheme would allow Gould essentially to control the gold supply in America, which would mean he could influence the entire national economy. Gould’s plot could only work if the federal government chose not to sell gold reserves while Gould and his cronies were working to drive up the price. To sideline the Treasury Department, Gould  bribed officials in the federal government, including a relative of President Ulysses S. Grant. The plan to corner gold went into effect in September 1869. On a day that would become known as â€Å"Black Friday,† September 24, 1869, the price of gold began to rise and a panic ensued on Wall Street. By midday, Gould’s plan unraveled as the federal government began to sell gold on  the market, driving down the price. Though Gould and his partner Fisk had caused a major disruption to the economy, and a number of speculators were ruined, the two men still walked away with a profit estimated in the millions of dollars. There were investigations into what had unfolded, but Gould had carefully covered his tracks. He was not prosecuted for violating any laws. The Black Friday gold panic made Gould more wealthy and more famous, though throughout this episode he generally tried to avoid publicity. As ever, he preferred that his gregarious partner, Jim Fisk, deal with the press. Gould and the Railroads Gould and Fisk ran the Erie Railroad until 1872, when Fisk, whose private life had become the subject of countless newspaper headlines, was murdered in a Manhattan hotel. As Fisk lay dying, Gould rushed to his side, as did another friend, William M. â€Å"Boss† Tweed, the leader of Tammany Hall, New York’s infamous political machine. Following the death of Fisk, Gould was ousted as head of the Erie Railroad. But he remained active in the railroad business, buying and selling vast amounts of railroad stock. In the 1870s, Gould bought up various railroads during a time when a financial panic drove down prices. He understood that railroads needed to expand in the West and that demand for reliable transportation across great distances would outlive any financial instabilities. As the American economy improved by the end of the decade, he sold much of his stock, amassing a fortune. When the prices of stocks dropped again, he began acquiring railroads again. In a familiar pattern, it seemed that no matter how the economy performed, Gould wound up on the winning side. More Questionable Associations In the 1880s, Gould became involved in transportation in New York City, operating an elevated railroad in Manhattan. He also bought the American Union Telegraph company, which he merged with Western Union. By the late 1880s, Gould dominated much of the transportation and communication infrastructure of the United States. In one shady episode, Gould became involved with businessman Cyrus Field, who decades earlier had masterminded the creation of the transatlantic telegraph cable. It was believed that Gould led Field into investment schemes that proved ruinous. Field lost his fortune, and Gould, as ever, seemed to profit. Gould also became known as an associate of New York City police detective Thomas Byrnes. It eventually came to light that Byrnes, though he always worked on a modest public salary, was quite wealthy and had considerable holdings in Manhattan real estate. Byrnes explained that for years his friend Jay Gould had given him stock tips. It was widely suspected that Gould had been giving Byrnes inside information on upcoming stock deals as bribes. As with so many other incidents and relations, rumors swirled around Gould, but nothing was ever proven in court. Marriage and Home Life Gould was married in 1863, and he and his wife had six children. His personal life was relatively quiet. As he prospered, he lived in a mansion on New York City’s Fifth Avenue but seemed uninterested in flaunting his wealth. His great hobby was raising orchids in a greenhouse attached to his mansion. Death When Gould died of tuberculosis, on December 2, 1892, his death was front-page news. The newspapers ran lengthy accounts of his career and noted that his wealth was probably close to $100 million. The lengthy front-page obituary in Joseph Pulitzers New York Evening World indicated the essential conflict of Goulds life. The newspaper referred to Jay Goulds Wonderful Career in a headline. But it also recounted the old scandal of how he had destroyed the life of his early business partner Charles Leupp. Legacy Gould has generally been depicted as a dark force in American life, a stock manipulator whose methods would not be allowed in today’s world of securities regulation. A perfect villain in his time, he was portrayed in political cartoons drawn by artists such as Thomas Nast as running with bags of money in his hands. History’s verdict on Gould has been no kinder than the newspapers of his own era. However, some historians claim that he was unfairly portrayed as being more villainous than he really was. Other historians argue that his business activities did, in reality, perform useful functions, such as greatly improving railroad service in the West. Sources Geisst, Charles R.  Monopolies in America: Empire Builders and Their Enemies, from Jay Gould to Bill Gates.  Oxford University Press, 2000.â€Å"Jay Gould: Financier in the Age of Robber Barons.†Ã‚  Jay Gould: Financier in the Age of Robber Barons, www.u-s-history.com/pages/h866.html.Hoyt, Edwin P.  The Goulds: A Social History. Weybright and Talley, 1969.Klein, Maury.  The Life and Legend of Jay Gould.  Baltimore, Johns Hopkins  University Press, 1986.

Mtv Networks the Arabian Challenge - 4307 Words

ICMR Case Collection Co p y Icfai Center for Management Research MTV Networks: The Arabian Challenge o D . N ot BSTR294 - Teaching Note ï›™ 2009, Icfai Center for Management Research. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means- electronic or mechanical, without permission. To order copies, call +91-40-2343-0462/63 or write to Icfai Center for Management Research, Plot # 49, Nagarjuna Hills, Hyderabad 500 082, India or email Info@icmrindia.org. Website: www.icmrindia.org BSTR/294 MTV Networks: The Arabian Challenge TEACHING NOTE ABSTRACT Co p y MTV Networks (MTVN) had†¦show more content†¦The Arab world derives its strategic importance from the fact that around 60% of the earth’s oil reserves are at or near the Arabian Peninsula. For MNCs, the Arab world’s teeming youth population is another attraction. In the Middle East, 65 percent of the people are under 25 years of age. When compared with the demographics in Western countries, this fact has strong implications for businesses. N ot The Arab countries are religiously and ethnically diverse. The Arab world is a location of several world religions (Islam, Christianity, and Judaism) and a multitude of ethnic and linguistic groups. However, the predominant religion is Islam, and Arabic the dominant language. To be an Arab is a cultural trait rather than a racial one. Arab history and culture are based on tribalism. Some aspects of Arab culture are discussed here: Arab Worldview – It is based upon six concepts: Atomism: Arabs tend to focus on parts rather than on the whole. They tend to see the world and events as isolated incidents, snapshots, and particular moments in time. †¢ Faith: Arabs usually believe that almost all things in life are controlled by the will of God (fate) rather than by human beings. †¢ Wish Vs Reality: Arabs express emotion in a forceful andShow MoreRelatedMtv Networks: the Arabian Challenge1338 Words   |  6 PagesMTV Networks: The Arabian Challenge 1. Question 1 Experts felt that one of the biggest challenges faced by MTV while launching MTV Arabia was the prevalent culture in the Arab world. Discuss the Arab culture. How is it expected to pose a challenge to MTV? First of all, it is impossible to talk about groups of people without generalizing. At this point it must be emphasized that there is not just â€Å"one† Arab culture or society. The Arab world is full of rich and diverse communities, groupsRead MoreAaron Abrams . Professor Harding . Mgt375 . 3/21/17. 1.1220 Words   |  5 Pagesdecent clothes in front of the other sexes. There cannot have sex until marriage. Their cannot use slang language and there are anti-American. MTV has multiple challenge while doing their television show in Saudi Arabia. One of the problem were the language translation. It did not usually translate properly or reveal a very explicit sexual message. MTV still maintain their Western ties which led to most of their shows being censored. Only forty percent of Arabic teenagers watch this program. TheRead MoreEssay on Mtv Arabia1329 Words   |  6 PagesCase Analysis: MTV Arabic Introduction: Music Television or MTV is the pioneer of the concept of a cable music channel. It started in 1981 in United States. This was a mark of the commencement of the cable TV revolution in the history. The primary audience for MTV is those in the 12 to 24 age group. 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Scope Scientific Method and Research Problem - 2046 Words

SCOPE AND LIMITATION 1. This section explains the nature, coverage, and time frame of the study. 2. It presents in brief the subject area of investigation, the place, the time period, or school year covered. 3. It discusses the variables included in the study and the exclusion of other variables which are expected to be included. 4. It indicates the extent of capability of results arising from the sampling population Notice that the scope remains focused on the problem of attracting and retaining residents. It does not, for example, include looking at alternative uses for the building and grounds. The factor is outside the scope of this research problem. State delimitations and Limitations Two concepts, delimitations and†¦show more content†¦Dissertations and Theses: An Online Textbook. Laerd.com. Descriptions of Possible Limitations All studies have limitations. However, it is important that you restrict your discussion to limitations related to the research problem under investigation. For example, if a meta-analysis of existing literature is not a stated purpose of your research, it should not be discussed as a limitation. Do not apologize for not addressing issues that you did not promise to investigate in your paper. Here are examples of limitations you may need to describe and to discuss how they possibly impacted your findings. Descriptions of limitations should be stated in the past tense. Possible Methodological Limitations * Sample size -- the number of the units of analysis you use in your study is dictated by the type of research problem you are investigating. 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Comparing The Ideas Of Edwin Sutherland - 1257 Words

Comparing the ideas of Edwin Sutherland from his 1940 publication of White-Collar Criminality with attitudes towards crime in the world today, specifically in George Ritzer’s Essentials of Sociology textbook, I believe that Sutherland would be fairly happy with the treatment of crime. The textbook’s treatment of the topic of crime aligns very well with Sutherland’s outlook. Ideas of crime seemed to be treated fairly in the text, avoiding the classic pitfalls of saying that crime is always associated with lower class sectors. With every mention of low social class and its positive correlation with crime, the book seems to come right back and explain the same thought another way. I think Sutherland would appreciate this attempt at teaching†¦show more content†¦131). This is such a true observation of crime and deviance in our society. Deviances are defined by an extremely biased subset of people. Those that create easily breakable laws are the same ones that will never find themselves in the situation where they need to break these laws. The same idea can be seen in some cities of the world today where a fine can be imposed on someone for sleeping on the street. Those who want people off the streets are the same people that will never foreseeably find themselves without a home to return to. As far as Sutherland’s possible opinion on how criminology has progressed since his time, I believe that he would be pleased in some areas and disappointed in others. Since Sutherland’s time, there has been a wider spread of accessible knowledge via technology. This increased ability for news to travel connects our world in ways that Sutherland never saw. This could have aided Sutherland’s view towards white-collar crime in the fact that when a white-collar crime is committed and found out today, there is little stopping that story from getting out. White collar crimes, when found out and prosecuted, are tremendous news stories. People can’t help but spread the news of a successful business man or CEO being caught red handed. And when these stories get out, they spread, and their negative views on white-collar crime spread too. Middle and lower class people seem to instantly rally against any successful businessman or person ofShow MoreRelatedThe Strengths Of Labelling Theory And Differential Association Theory1703 Words   |  7 Pagestheory of Differential Association by Edwin H. Sutherland falls under the tradition of the Chicago school of Criminology. Sutherland’s theory seeks to explain how the transmission of criminal values occurs. He described a constant battle between two cultures, one which contains negative definitions and values of criminal behaviour and one which contains positive definitions and values of criminal behaviour(Lilly, Cullen, and Bali. 2015). According to Sutherland, depending on the ind ividual’s exposureRead MoreHow do Differential Association Theories best Demonstrate that Criminal Behaviour is a ‘Learned Behaviour’1007 Words   |  5 Pagesdefinitions favourable to violation of law over definitions unfavourable to violation of law. Meaning, criminal behaviour appears when one is exposed to more social message favouring conduct than pro-social messages (Sutherland, 1947). Differential association theory can be understood as comparing two important dimensions. The initial dimension is behavioural- interaction and explains deviance as being produced through â€Å"direct association and interaction with others who engaged in certain kind of behaviourRead MoreThe Social And Emotional Development Of An Adolescent Essay1919 Words   |  8 Pagesgiven time. Dr. Anderson also accounted for things such as racial discrimination and the unemployment rate within these neighborhoods (Anderson, Holder, Robinson, Rose, 2009). At the conclusion of the study, the researcher’s results supported the idea that the environments adolescents are surrounded by have a direct impact on their own personal lifestyle. Many households were found to lack appropriate parenting styles and were categorized as being verbally and emotionally abusive. On a slightlyRead MoreEssay on The Rich Get Richer and the Poor Get Prison12486 Words   |  50 Pagesnot make up the majority of the inmates in our jails and prisons, they make up a proportion that far outstrips their proportion in the population.2 Here, too, the image we see is distorted by the processes of the criminal justice system itself. Edwin Sutherland and Donald Cressey write in their widely used textbook Criminology that Numerous studies have shown that African-Americans are more likely to be arrested, indicted, convicted, and committed to an institution than are whites who commit the sameRead MoreElectronic Media vs Print (Thesis Paper)13276 Words   |  54 Pages ââ€" ª Primary research has been conducted through a multiple choice/’yes’ and ‘no’ survey submitted to individuals in the general public as well as students in the MEDC 6000 class. I’ve used a multiple choice/’yes’ and ‘no’ survey to gain a general idea about the preference people have between media and print communication. This general data has served to lend credence to my secondary research focusing on society’s partiality of media over print as their primary source for information. ââ€" ª Secondary

Price Of Glory Essay Example For Students

Price Of Glory Essay * *A new movie called The Price of Glory is opening Friday, March*31,2000 all over. However, this movie will only be out for two weeks, if the*community does not support it. **This a movie about a Latino boxing family and it is refreshing to*see a movie about a Latino family where the roles are actually played by*Latino actors. The movie stars Jimmy Smitts, Jon Seda, and Paul Rodriguez*in a*role you wouldnt expect. We got the chance to preview the movie last night*and it is a great movie with a lot of comedy and still very heart-warming. **An actor from American Me was there promoting the movie and he*said that the African-American community has organized a group called the*Weekend group and every time a new movie comes out starring an*African-American*actor or director over 2 million people go to the opening day and support the*movie.They are trying to get a similar group started in the Latino community. *actor or director over 2 million people go to the opening day and support the*movie.They are trying to get a similar group started in the Latino community. ** If you are tired of seeing us in roles of gang-bangers, gardeners,*housemaids, heres a chance to do something about it and enjoy an*excellent movie. The movie will not be getting a lot of publicity at all*so spread the word, and if you see it and like it, go see it again!*If it makes a difference, OZOMATLI is on the soundtrack!:*Pass the word. The movie stars Jimmy Smits (formerly of N.Y.P.D. *Blue):** The Sacramento Hispanic Chamber or Commerce was responsible*for bringing the premier of The Price of Glory to Sacramento. It is an*excellent movie. You really have to go see it. At the premier they*announced that the movie will begin showing on March 31st. They told us*how important it is to go see a movie the first two weekends that it is out. *If the movie does*not generate enough ticket sales during the first two weekends it is pulled*from the theater. *Anyway, excellent LATINO actors, director and producer. The*company that paid for the movie to be produced,New Line Cinema, decided*not to advertise this movie to the American market. The only advertisement is*word of mouth. So, please help support positive Latino movies and tell*everyone*you know to go see it during the first or second weekend its out. See your*local newspaper for locations. Film and Cinema

Public Sector Reform free essay sample

Case Analysis of the Introduction of New Public Management in Small States By: Tamara McLeod ID #: 03-048181 Identify the main public sector reform issues and problems in the case Public sector reform refers to strengthening the way public sector is managed. The public sector may try and do too much with two little resources. In the case the main public sector reform issues highlighted were: †¢Political Issues, such as the political will of government representative, the Westminster/Whitehall model, and Constitution and the Colonial Administration practices. Economic Issues such as the need to attract potential investors, the need to be competitive through Globalization and the structural changes needed for loans and aids to be granted from the IMF. †¢Socio-Economic Issues such as the history of the country, the cultural dynamics of the state, pluralist vs. homogenous states. Review the theoretical arguments relating to these issues that are put forward by the author Wilens ki (1986) saw the greatest impediment to public sector reform as being the lack of political will. We will write a custom essay sample on Public Sector Reform or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This was supported by Mills who believed that public servants were trained in colonial administration and only could adhere to rules and regulations than make inform and rational decisions. Other theorist believes that the greatest argument for public sector reform was Globalization. Gidden and Scholte (1990) believed that globalization is a central driving force behind the rapid social, political and economic changes reshaping societies and contributing to public sector reform. Other theorist believed that the changes in ideologies, value systems and system of governance along with internal forces and pressures gave rise to the changes in public sector administration. La Guerra (1994) noted that the structural adjustments conditions that accompanied loans from the International lending agencies such as the IMF contributed for the need of public sector to be more efficient in there standard and measures of service delivery. Hood, Pollitt and Bouckaert (2000) noted that the variation in mplementing and succeeding of New Public Management varied based on the difference in emphasis that countries placed on its principles. These successes depended on the unity of public sector officials in a common goal and vision to the reformation process. Finally theorist saw the pluralistic nature of countries such as Trinidad and Tobago and Guyana as being contributing factors to the development of public sector reform program. And that homogenous society such as Jamaica an d Barbados had more success in implementing these principles as the cohesiveness of there public sector made such, with greater ease. Critically analyze the issues/problems identified, and comment on the Public Sector Mgmt solution described in the case to resolve them. The Political factors that impeded the process of public sector reforms are varying as they entail the political will of the directorates. This political will was hard to change as it was already embedded by the Westminster/Whitehall system of government in Caribbean states. It created a cabinet government and did not allow for regular swing between government and opposition. Plus it continued a system of colonial administration, in which public sector workers only abide by rules and regulations instead of standards and measures of performance. The economic issues presented in the case that foster the change from administration to management was described by Hood(1991) he listed various trends as the reason behind these changes. Firstly, the need to slow down or reverse the growth of the government in areas of expenditure, second, the shift towards privatization and semi-privatisation in an effort to reduce the economic burden of society by ways of government spending. Many countries had experience long economic boom until the early seventies when the global crises in the mid-seventies brought a sharp economic depression in many states. Thus there was the need to reduce cost in the public bureaucracies and increase efficiency to compete on the global market. Globalization, the increase mobility of goods, service, labor, technology and capital throughout the world is seen as the major catalyst for the reform in public sector administration. It is seen as the driving force ehind the changes of social political and economic changes in restructuring societies (Giddens, Scholte 1993). The third economic issue was the need for small states to seek loan or aids from International Lending agencies. The conditionality’s of these loans required reformation to structural and bureaucratic changes to increase standards and measure of service delivery. Finally to attract new potential investor’s governments introduces efficient and more standardize d systems of administration