Henry Ford

Henry Ford. Ford also fundamentally changed human lifestyles by making available a vehicle, the Model T, that vastly extended people’s range of movement. The automobile would allow America’s masses to fulfill their Manifest Destiny to populate every corner of the continent. But his more profound impact was on industry. The moving assembly line he designed to build his cars was the signal breakthrough of the Industrial Age. Appropriately, Ford earned the seed capital for his enterprise by working as an engineer at the Edison Illuminating Company in Detroit.

Henry Ford (July 30, 1863 – April 7, 1947) was the American founder of the Ford Motor Company and father of modern assembly lines used in mass production. His introduction of the Model T automobile revolutionized transportation and American industry. He was a prolific inventor and was awarded 161 U.S. patents. As sole owner of the Ford Company he became one of the richest and best-known people in the world. He is credited with "Fordism", that is, the mass production of large numbers of inexpensive automobiles using the assembly line which could finish a car in 98 minutes, coupled with high wages for his workers—notably the $5.00 per day pay scale adopted in 1914. Ford had a global vision, with consumerism as the key to peace. Ford did not believe in accountants; he amassed one of the world's largest fortunes without ever having his company audited. The company's first audit occurred after Henry Ford II became head of the company. Henry Ford's intense commitment to lowering costs resulted in many technical and business innovations, including a franchise system that put a dealership in every city in North America, and in major cities on six continents. Ford left most of his vast wealth to the Ford Foundation but arranged for his family to control the company permanently.

Thomas Edison

Thomas Edison. What do you say about the man who gave the world the electric light, the phonograph, talking motion pictures and more than 1,300 other patented inventions? That he was the world’s greatest inventor, certainly. But he was also able to exploit the profit potential in his creations, an entrepreneurial bent that asserted itself when Edison was a teen-ager, printing a newspaper in the baggage car of a rolling train and then selling copies to passengers. His impact on the way people live was and is pervasive. As a combination of inventive genius and entrepreneurial flair, he stands alone.

The first great invention developed by Edison in Menlo Park was the tin foil phonograph. While working to improve the efficiency of a telegraph transmitter, he noted that the tape of the machine gave off a noise resembling spoken words when played at a high speed. This caused him to wonder if he could record a telephone message. He began experimenting with the diaphragm of a telephone receiver by attaching a needle to it. He reasoned that the needle could prick paper tape to record a message. His experiments led him to try a stylus on a tinfoil cylinder, which, to his great surprise, played back the short message he recorded, "Mary had a little lamb."

The word phonograph was the trade name for Edison's device, which played cylinders rather than discs. The machine had two needles: one for recording and one for playback. When you spoke into the mouthpiece, the sound vibrations of your voice would be indented onto the cylinder by the recording needle. This cylinder phonograph was the first machine that could record and reproduce sound created a sensation and brought Edison international fame.

August 12, 1877, is the date popularly given for Edison's completion of the model for the first phonograph. It is more likely, however, that work on the model was not finished until November or December of that year, since he did not file for the patent until December 24, 1877. He toured the country with the tin foil phonograph, and was invited to the White House to demonstrate it to President Rutherford B. Hayes in April 1878.

In 1878, Thomas Edison established the Edison Speaking Phonograph Company to sell the new machine. He suggested other uses for the phonograph, such as: letter writing and dictation, phonographic books for blind people, a family record (recording family members in their own voices), music boxes and toys, clocks that announce the time, and a connection with the telephone so communications could be recorded.

Phineas Taylor Barnum

P.T. Barnum. Americans have always loved a good scam and Phineas Taylor Barnum took the art to new heights. He played on our fascination with the bizarre and freakish with sideshow acts ranging from the midget Tom Thumb to Jumbo the giant elephant. In between was a host of more dubious curiosities. He created the Barnum and Bailey Circus as a showcase for all this wonderment, and dubbed it “the Greatest Show on Earth.” Along the way he invented modern advertising and became rich. For the record, he never said “There’s a sucker born every five minutes,” but he left behind plenty of other bon mots. Among them: “Every crowd has a silver lining.”

There is no proof that Phineas Taylor Barnum ever said, "there's a sucker born every minute." He did, however, say that "every crowd has a silver lining," and acknowledged that "the public is wiser than many imagine."

In his 80 years, Barnum gave the wise public of the 19th century shameless hucksterism, peerless spectacle, and everything in between -- enough entertainment to earn the title "master showman" a dozen times over. In choosing Barnum as one of the 100 most important people of the millennium, LIFE magazine dubbed him "the patron saint of promoters."

Barnum was born on July 5, 1810, in Bethel, Connecticut. The oldest of five children, he showed his flair for salesmanship at an early age, selling lottery tickets when he was just 12 years old.

When he was 25, Barnum paid $1,000 to obtain the services of Joice Heth, a woman who claimed to be 161 years old and the nurse of George Washington. "Unquestionably the most astonishing and interesting curiosity in the world!" read one of Barnum's handbills. Barnum exhibited her in New York and New England, raking in about $1,500 per week.

In 1841, Barnum purchased Scudder's American Museum on Broadway in New York City. He exhibited "500,000 natural and artificial curiosities from every corner of the globe," and kept traffic moving through the museum with a sign that read, "This way to the egress" -- "egress" was another word for exit, and Barnum's patrons would have to pay another quarter to reenter the Museum!

A year later, he exhibited "The Feejee Mermaid," ostensibly an embalmed mermaid purchased near Calcutta by a Boston seaman. Belief in the mermaid's authenticity was mixed, but nobody doubted Barnum's ability to capture the imagination of the public.

Later in 1842, Barnum hired Charles Stratton, who became world-famous as General Tom Thumb. The two became close friends, and so successful that, in 1844, they had an audience in England with Queen Victoria.

While Barnum's name will forever be connected with the great American circus, it is often said that his greatest success came in 1850, when he presented European opera star Jenny Lind to the American public. "The Swedish Nightingale" sang 95 concerts for Barnum.

In 1854, Barnum wrote and published his autobiography: The Life Of P.T. Barnum, Written By Himself. Sixteen years later, his association with the entertainment form that still bears his name would begin

Benjamin Franklin

Benjamin Franklin. In a real sense, Franklin was America’s first entrepreneur. Unlike other of the Founding Fathers -- the hypermoral Washington, the prodigiously intellectual Jefferson -- whose virtues and attainments are seen today as anachronisms, Franklin truly was a model of what many of us would become. Beneath the statesman’s mantle resided a popular author, a printer, an inventor (the lightning rod, bifocals) and a very savvy businessman who knew how to commercialize the fruits of his fertile mind.

Benjamin Franklin was born in Boston on January 17, 1706. He was the tenth son of soap maker, Josiah Franklin. Benjamin's mother was Abiah Folger, the second wife of Josiah. In all, Josiah would father 17 children.

Josiah intended for Benjamin to enter into the clergy. However, Josiah could only afford to send his son to school for one year and clergymen needed years of schooling. But, as young Benjamin loved to read he had him apprenticed to his brother James, who was a printer. After helping James compose pamphlets and set type which was grueling work, 12-year-old Benjamin would sell their products in the streets.

Apprentice Printer

When Benjamin was 15 his brother started The New England Courant the first "newspaper" in Boston. Though there were two papers in the city before James's Courant, they only reprinted news from abroad. James's paper carried articles, opinion pieces written by James's friends, advertisements, and news of ship schedules.

Benjamin wanted to write for the paper too, but he knew that James would never let him. After all, Benjamin was just a lowly apprentice. So Ben began writing letters at night and signing them with the name of a fictional widow, Silence Dogood. Dogood was filled with advice and very critical of the world around her, particularly concerning the issue of how women were treated. Ben would sneak the letters under the print shop door at night so no one knew who was writing the pieces. They were a smash hit, and everyone wanted to know who was the real "Silence Dogood."

After 16 letters, Ben confessed that he had been writing the letters all along. While James's friends thought Ben was quite precocious and funny, James scolded his brother and was very jealous of the attention paid to him.

Before long the Franklins found themselves at odds with Boston's powerful Puritan preachers, the Mathers. Smallpox was a deadly disease in those times, and the Mathers supported inoculation; the Franklins' believed inoculation only made people sicker. And while most Bostonians agreed with the Franklins, they did not like the way James made fun of the clergy, during the debate. Ultimately, James was thrown in jail for his views, and Benjamin was left to run the paper for several issues.

Upon release from jail, James was not grateful to Ben for keeping the paper going. Instead he kept harassing his younger brother and administering beatings from time to time. Ben could not take it and decided to run away in 1723.

Pope Sixtus IV

Pope Sixtus IV. Sixtus gets the nod for realizing that the “wages of sin” meant more than unpleasant repercussions. There was money to be made in damnation, and Sixtus mined it by opening up a new market -- the dead -- for the indulgences the church had been selling for years. Relatives of the deceased quickly filled the Vatican’s coffers with payments intended to lessen the time their loved ones spent in purgatory. In 1478 Sixtus “grew his market” by authorizing the Spanish Inquisition, which swelled purgatory’s ranks by 100,000 souls in 15 years. He also was the first pope to license brothels.

Sixtus IV, given name Francesco della Rovere, Roman Catholic Pope from the 9th of August 1471 to the 12th of August 1484, was born of a poor family near Savona in 1414. He entered the Franciscan order at an early age and studied philosophy and theology at the universities of Padua and Bologna. He speedily acquired a great reputation as an eloquent preacher, and, after filling the offices of procurator at Rome and provincial of Liguria, he was chosen general of his order in 1464. Three years later he was, to his own surprise, made cardinal-priest of St. Pietro in Vincoli by Pope Paul II, whom he succeeded as pope. Some writers have maintained that this sudden elevation of the most recent member of the Sacred College was due to bribery in the conclave, whilst the apologists of Sixtus affirm it was due to the friendship of the powerful and upright Cardinal Bessarion, and explain that the pope, having been brought up in a mendicant order, was inexperienced and did not appreciate the liberality of his donations after his election. There is no doubt that the expenditures of his pontificate were prodigal. Sixtus sent Cardinal Caraffa with a fleet against the Turks, but the expedition was unsuccessful. He continued to condemn the Pragmatic Sanction in France, and denounced especially the ordinance of Louis XI which required (8th of January 1475) the royal placet for the publication of all papal decrees. He likewise continued his predecessor's negotiations with the Tsar Ivan III for the reunion of the Russian Church with the Roman see and for support against the Turks, but without result. He was visited in 1474 by King Christian of Denmark and Norway, and in the following year (12th of June) he established the University of Copenhagen. Sixtus soon abandoned his universal policy in order to concentrate attention on Italian politics, and the admirable energy which he had shown at first was clouded by the favors which he now heaped upon unworthy relations. Not content with enriching them by gifts and lucrative offices, he made their aggrandizement the principal object of his policy as a secular prince. Sixtus was cognizant of the conspiracy of the Pazzi, plotted (1478) by his nephew, Cardinal Riario, against Lorenzo de Medici. He entered into a fruitless and inglorious war with Florence, which kept Italy for two years (1478-80) in confusion. He next incited the Venetians to attack Ferrara, and then, after having been delivered by their general, Roberto Malatesta, from a Neapolitan invasion, he turned upon them and eventually assailed them for refusing to desist from the hostilities which he had himself instigated. He relied on the cooperation of Lodovico Sforza, who speedily forsook him; and vexation at having peace forced upon him by the princes and cities of Italy is said to have hastened his death. Several events of his pontificate are noteworthy: he granted many privileges to the mendicant orders, especially to the Franciscans; he endeavored to suppress abuses in the Spanish Inquisition; he took measures against the Waldenses; he approved (1475) the office of the Immaculate Conception for the 8th of December; in 1478 he formally annulled the decrees of the council of Constance; and he canonized St. Bonaventura (14th of April 1482). The most praiseworthy side of his pontificate was his munificence as a founder or restorer of useful institutions, and a patron of letters and art. He established and richly endowed the first foundling hospital, built and repaired numerous churches, constructed the Sistine Chapel and the Sistine Bridge, improved church music and instituted the famous Sistine choir, commissioned paintings on the largest scale, pensioned men of learning, and, above all, immortalized himself as the second founder of the Vatican library. These great works, however, were not accomplished without grievous taxation. Annates were increased and simony flourished. Though himself pious, of blameless morality, hospitable to a fault, and so exempt from avarice, says his secretary Conti, that he could not endure the sight of money, it was Sixtus's misfortune to have had no natural outlet for strong affections except unworthy relatives; and his great vices were nepotism, ambition and extravagance. He died on the 12th of August 1484, and was succeeded by Pope Innocent VII.

King Croesus. A pick by our veterans committee, Croesus, who ruled the Asia Minor kingdom of Lydia in the sixth century B.C., is owed a huge debt of gratitude for minting the world’s first coinage, thereby creating in a single stroke the lifeblood of every business: liquidity and cash flow. Moreover, his opulent lifestyle has given entrepreneurs throughout history something to shoot for. Is there a greater distinction for the commercially inclined than to be deemed “as rich as Croesus”?

King Croesus

The expression "as rich as Croesus" comes from the legendary wealth of the king who reigned from 560 to 546 BC over Lydia in western Asia Minor. Gold from the mines and from the sands of the River Pactolus filled his coffers to overflowing. The Lydians in the time of Croesus, it is believed, were the first people to mint coins as money.

The fame of the splendid court of Croesus at Sardis attracted many visitors. One of these, according to a legend, was Solon, the lawgiver of the Greeks. The king proudly displayed his treasures and asked Solon who was the happiest man that he had met. Solon named two or three obscure men who had lived and died happily. Croesus was surprised and angry and said: "Man of Athens, dost thou count my happiness as nothing?" "In truth," replied Solon, "I count no man happy until his death, for no man can know what the gods may have in store for him."

There was indeed great misfortune in store for Croesus. Cyrus the Great of Persia, extending his vast domains, was soon threatening the kingdom of Lydia. Croesus consulted the oracle of Delphi in Greece. The oracle replied: "If Croesus goes to war he will destroy a great empire." So Croesus went out to meet the army of Cyrus and was utterly defeated, he destroyed his own great empire.

The old story goes on to relate that Cyrus ordered Croesus to be burned alive. When Croesus saw the flames creeping upward to consume him, he remembered the words of the wise Solon and cried out, "O Solon! Solon! Solon!" Supposedly Cyrus was so moved by the story of how Solon had warned the proud king that he ordered Croesus to be released. Cyrus asked to Croesus why he shouted Solon's name, and Croesus asked him another question "what your soldiers are doing now?", showing the Persian soldiers taking all the treasures and destroying everything; Cyrus replied "They are plundering your city"; then Croesus said "They are not plundering my city, it's your city now and your soldiers are destroying your city". After that short conversation Cyrus the Great stopped his soldiers.