
Andrew Carnegie hired Charles M. Schwab to run US Steel in 1921 and paid him $1 million per year. That was $3,000 per day, when people who made $50 per week, were considered well off. He was not hired because he knew more about steel than anyone else. Carnegie hired him because he was a genius at dealing with people. There was a book written about Mr. Schwab back in 1912 entitled Succeeding with What You Have. I would like to pull a short excerpt from the book that gives a great example of how Mr. Schwab was able to motivate his people to accomplish more without threats, condemnation, fear, criticism, intimidation, or pressure.