1 Jan 1882 Jahr - JOhn D. Rockefeller creates Standard Oil trust

Beschreibung:

-kerosene- clean-burning fuel for domestic heating and lighting
-1850s- ppl learned how to get kerosene from crude oil
-enormous oil deposits found in Titusville, Pennsylvania as Civil war was hurting whaling. ppl needed oil elsewhere.
-Connected to these Pennsylvania oil fields by rail in 1863, Cleveland, Ohio, became a refining center.
-Rockefeller created a firm (not in civil war cause he hired a sub), became cleveland's leading refiner
-used Swift's vertical integration (to control production and sales all the way from the oil well to the kerosene lamp, he took a big stake in the oil fields, added pipelines, and developed a vast distribution network. Rockefeller allied with railroad executives, who, like him, hated the oil market’s boom-and-bust cycles. What they wanted was predictable, high-volume traffic, and they offered Rockefeller secret rebates that gave him a leg up on competitors.)
-Rockefeller made horizontal integration (A business concept invented in the late nineteenth century to force rivals (after predatory pricing the heck outta them) to merge their companies into a single conglomerate. John D. Rockefeller of Standard Oil pioneered this model. ) Standard Oil had 95% of the country's oil refining capacity

1882: rockefeller's lawyers made a trust ( small group of associates who hold stock from multiple firms and manage them as a single entity. Trusts quickly evolved into other centralized business forms, but critics continued to refer to giant firms with monopoly power as “trusts.” )
-rockefeller started operating in other countries
-trsuts popped up in other industries like linseeed oil, sugar, salt (expanded sales, overseas procuction

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