Wednesday, February 27, 2013
Andrew Carnegie, The King of Steel Innovation
Investor’s Business Daily
David Hounshell
Before Andrew Carnegie founded Carnegie Tech, which later became Carnegie Mellon University, he was the king of steel. According to the article, he founded Carnegie Steel Company in Pittsburgh and sold it in 1901 for $480 million. David Hounshell notes, “Andrew Carnegie was a brilliant cost analyst. He knew what were his labor costs, his capital costs and his material costs, and he knew how to drive the costs down. This was a great advantage”.
By: David Saito-Chung