Steel Titan

Book excerpt: Business genius and hedonist, Charles Schwab entered the steel industry as an unskilled laborer and within twenty years advanced to the presidency of Carnegie Steel. He later became the first president of U.S. Steel and then founder of Bethlehem Steel. His was one of the most spectacular and curious success stories in an era of great industrial giants. How did Schwab progress from day laborer to titan of industry? Why did Andrew Carnegie and J.P. Morgan select him to manage their multmillion-dollar enterprises? And how did he forfeit their confidence and lose the preseidency of U.S. Steel? Drawing upon previously undiscovered sources, Robert hessen answers these questions in the first biography of Schwab.