CORPORATIONS: Shades of Diamond Jim

When Pittsburgh's Pressed Steel Car Co., Inc. was organized in 1899, its sales manager was a man named James Buchanan Brady. People called him "Diamond Jim." Greatest of all bigtime spenders, Diamond Jim Brady didn't throw his enormous parties just for fun—they paid off in enormous sales.

On the start he gave it, Pressed Steel coasted onward & upward through 30 years of prosperity, during which stockholders drew $38 million in dividends. Over the years Pressed Steel grew staid and conservative, floundered badly in the Big Depression, went bankrupt in 1933, barely survived a bitter reorganization battle, still operated at a...

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