The Founding Father Who Got Rich in the Revolution

The Founding Father Who Got Rich in the Revolution

Two-hundred-and-fifty years ago George Washington was fighting the Revolutionary War against the British, but Robert Morris doing something just as vital. He was raising money for the fighting and buying the gunpowder, tents, food and uniforms Washington's army needed.  Morris had been a merchant before the revolution, so didn't see why he shouldn't personally profit from his work supplying the colonists' struggle. He emerged from the war as a rich man and owned huge tracts of land. But the turbulent final years of the 18th Century saw Morris go first into substantial debt and then fall into utter ruin.      Write to us at businesshistory@pushkin.fm [businesshistory@pushkin.fm] See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

The Dumbest Business Ever... Shipping Melting Ice to Calcutta.

Frederic Tudor could get ice any time he wanted. He lived in chilly Boston and his family had a lake that froze over in the winter. Harvesting ice and storing it was a normal thing in New England in the 1800s, but Frederic decided he'd make a fortune if he could ship ice to the warmest places on earth. And everyone thought this was the dumbest business idea of all time! No one would back Frederic's plan - no one would even let him rent a ship to carry his ice. For decades he tried and failed to get his ice business running. He even ended up broke and in jail. But finally he prevailed and became a wealthy and celebrated figure - who changed the world.      Write to us at businesshistory@pushkin.fm [businesshistory@pushkin.fm] See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

From History Daily: John S. Pemberton Sells the First Glass of Coca-Cola

Here's a preview of a show we think you'll like, History Daily. Every weekday, Lindsay Graham explores a momentous event that happened 'on this day' in history. Today: American pharmacist John S. Pemberton sells the first glass of Coca-Cola at a pharmacy in downtown Atlanta, a drink he originally bills as a cure-all tonic for the chronic pain caused by war and drug addiction. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

The Match Maker Who Nearly Burned Down Wall Street

Swedish entrepreneur Ivar Kreuger built a fortune selling matches. He used this money to build a world famous financial empire that bankrolled whole countries. France borrowed from Kreuger. Germany borrowed from Krueger. He was crowned "The Match King" and ruled Wall Street in the 1920s.  But Kreuger's business was about to burn to the ground. The Swede had been using shady - even criminal - methods to move money around his empire and the good times came to an end. The discovery of Kreuger's crimes created chaos, but also proved pivotal in the creation of America's modern financial safeguards.   Write to us at businesshistory@pushkin.fm [businesshistory@pushkin.fm] See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Did "Neutron" Jack Welch Nuke GE?

In 1999, Jack Welch was named "Manager of the Century". As CEO of General Electric for 20 years, Welch transformed the conglomerate and made it the biggest company in the world. Nicknamed "Neutron Jack", he closed down big chunks of old GE and set up new ventures... including GE Capital - which operated more like a bank than the wing of a manufacturing giant.     Under the leadership of "Neutron Jack", General Electric was consistently profitable and seemed to be a safe investment... but in fact the company was headed for disaster. Write to us at businesshistory@pushkin.fm [businesshistory@pushkin.fm] See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.