Thomas W. Lamont
Thomas William Lamont, Jr. was an American banker. Lamont was born in New York, his parents were Thomas Lamont, a Methodist minister, Caroline Deuel Jayne. Since his father was a minister, they moved around Upstate New York a lot and they were not wealthy, he graduated from Phillips Exeter Academy in 1888, where he was editor of the school newspaper, The Exonian, as well as the school yearbook and literary magazine. He attended Harvard. At Harvard College, he became first freshman editor of The Harvard Crimson, which helped him pay off some of his tuition, he graduated cum laude with a Bachelor of Arts degree in 1892. He met Florence Haskell Corliss, at the 1890 Harvard commencement, he started working under the city editor for the New York Tribune two days after he graduated from Harvard in 1892. He married Florence on October 1895 in Englewood, New Jersey, he worked for the Albany Evening Journal, Boston Advertiser, Boston Herald, New York Tribune, which paid only $25, while he was at Harvard. At the Tribune, he received many promotions, including night editor and helping the financial editor, which gave him his first taste of the financial world.
He left journalism because of the low pay and went into businessHe began working in business for Cushman Bros. which became Lamont and Company, turned it into a successful importing and marketing firm. It was an advertising agency; the company was in a bad financial status, but Lamont fixed it, the company changed its name to Lamont and Company. He was partners with Corliss, his banking caught the attention of banker Henry P. Davison, who asked Thomas to join the new Bankers' Trust, he started as secretary and treasurer and moved up to being Vice President and was promoted to director. He rose to the vice presidency of the First National Bank, he was a member of the Jekyll Island Club on Georgia. There, along with J. P. Morgan Jr. and a few others, they secretly made a plan in 1910 there for a central bank, similar to the Federal Reserve System. In 1918, he purchased the New York Evening Post, of which his brother, had been managing editor a decade earlier, from Oswald Garrison Villard. After failing to make a profit, he sold the paper in January, 1922 to a syndicate, headed by the paper's editor, Edwin F. Gay.
On January 1, 1911, he became a partner of J. P. Morgan & Co. following Davison to the company. The company had started an improvised system so that the Allies could buy supplies from them. In 1917, he joined the Liberty Loan Committee, which helped the treasury sell war bonds to Americans, he served unofficially as an advisor to a mission to the Allies, led by Edward M. House, as requested by President Woodrow Wilson. Lamont not only advised the other countries but went to them. Right before he was going to go to Europe, the Bolsheviks took power in Russia, he and the head of the American Red Cross, William B. Thompson, along with the approval of the British prime minister, Lloyd George, tried to convince America to aid the Bolsheviks so that Russia would stay in the war. However, they were unsuccessful. Both he and Norman H. Davis were appointed as representatives of the Treasury Department to the Paris Peace Conference and had to determine what Germany had to pay in reparations, he drew up the Young Plan to reduce the amount paid by Germany.
In the interwar period, he was a spokesman for J. P. Morgan because J. P. Morgan Jr. was retiring. He handled the press and defended the firm during hearings like the those of Arsene Pujo that investigated powerful Wall Street bankers, he was one of the most important agents for the Morgan investments abroad. A member of the Council of Foreign Relations, he was an unofficial advisor to the Wilson, Herbert Hoover, Franklin Roosevelt administrations. Lamont undertook a semiofficial mission to Japan in 1920 to protect American financial issues in Asia. However, he did not aggressively challenge Japanese efforts to build a sphere of influence in Manchuria. Ron Chernow won the National Book Award for his book The House of Morgan in which he claimed that Lamont had authored the infamous Japanese response to deceive the world about the Mukden incident, used as a pretext for Japan's invasion of Manchuria; that defied the expressed position of US government and the League of Nations of Japan, not China, being the aggressor.
Lamont was the chairman of the International Committee of Bankers on Mexico for which he negotiated the De la Huerta-Lamont Treaty. He continued to chair the committee into the 1940s by a series of renegotiations of Mexico's foreign debt. In 1926, self-described as "something like a missionary" for Italian fascism, secured a $100 million loan for Benito Mussolini. Despite his early support, Lamont believed. On September 20, 1940, the fascist police shocked Lamont by arresting Giovanni Fummi, J. P. Morgan & Co.'s leading representative in Italy. Lamont worked to secure Fummi's release. Fummi went to Switzerland. On Black Thursday in 1929, Lamont was acting head of J. P. Morgan & Co. In an attempt to stop the panic, he organized Wall Street firms to inject confidence back into the stock market through massive purchases of blue chip stocks. Following the reorganization of J. P. Morgan & Co. in 1943, Lamont was elected chairman of the board of directors, after Morgan Jr. died. Lamont died in Boca Grande, Florida, in 1948.
Lamont became a generous benefactor of Harvard and Exeter once he had amassed a fortune, notably by funding the building of Lamont Li
Jing Ulrich
Jing Ulrich, née Li, is the managing director and vice chairman of Asia Pacific at JPMorgan Chase. Ulrich is one of the most prominent advisors to the largest global asset-management companies, sovereign-wealth funds, multinational corporations, she is in charge of covering JPMorgan Chase's most senior global clients across all asset classes and strengthening relationships with executives in Asia Pacific and the rest of the world. In recent years, various publications have listed her among the world's most powerful women. For example, in 2019, for the fifth consecutive year, Forbes China ranked Ulrich among the country's top businesswomen. In October 2013, Fortune magazine for the fourth time, ranked Ulrich among the top 50 most powerful global businesswomen. In October 2013, the South China Morning Post featured Ulrich as one of Hong Kong's 25 most inspirational and influential women, who have made a difference to society. In 2016, she received the inaugural Asian Women Leadership Award from China Daily and Asia News Network.
Ulrich created and runs JPMorgan's "Hands-on China" series of expert speakers, which has become a leading platform of views on all aspects of China’s development, she has hosted hundreds of corporate CEOs, industry experts, thought leaders at seminars and meetings worldwide. Each year she organizes a China-investment summit that brings together, from forty countries, over two thousand fund managers, corporate executives, outside experts to discuss opportunities for investing in China. Previous conferences run by Ulrich have included keynote speeches by former officials such as Chinese Premier Zhu Rongji, U. S. President Bill Clinton, Secretary of State Henry Kissinger, U. K. Prime Minister Tony Blair. In 1990, she received a bachelor's degree with honors in English and American Literature from Harvard University and in 1992 a master's degree in East Asian Studies from Stanford University. From 1994 to 1996, Ulrich worked as a fund manager for Greater China at Emerging Markets Management in Washington, D.
C. and before that as an equity analyst at Bankers Finance Investment. In his 1990 autobiography, To Life: The Story of a Chicago Lawyer, the jurist Elmer Gertz, a protégé of Clarence Darrow and defender of human rights, devoted several pages to Ulrich, whom he had met when she was still a teenager, her drive and talent at that age, prompted him to predict she would one day become a leader of China. From 2003 to 2005, Ulrich was managing director of Greater China equities at Deutsche Bank. Before joining Deutsche Bank, Ulrich spent seven years at CLSA Asia-Pacific Markets, where she led the top-ranked team covering the China market. Ulrich is vice chairman of Asia Pacific at JPMorgan, which she joined in 2005 as a managing director. In the last four years, Fortune magazine named Jing Ulrich as one of the 50 most powerful global business women, while the October 2010 and August 2008 editions of Forbes magazine put Ulrich on Forbes's list of the 100 most powerful women in the world. With the more recent Forbes publication including her among the world's "20 youngest power women".
In 2011 and 2012, FinanceAsia named Ulrich one of the top 20 women in finance and top 30 bankers in China. In March 2012 and 2013, Forbes magazine named her one of Asia's top 50 powerful businesswomen. For the past three years, publications of "商务周刊" and "China Entrepreneur" have listed Ulrich among the country's top female business elite, in May 2009, the Chinese journal "当代经理人" named her one of the top ten business leaders in China. In April 2010, "China International Business Magazine" put Ulrich on its cover for her role linking global investors to opportunities in China, in August 2010 Vogue China featured her as one of 15 globally influential Asian women. Earlier, in October 2006, the South China Morning Post and the American Chamber of Commerce in Hong Kong had chosen Ulrich as Hong Kong's Young Achiever of the Year from among several hundred nominees; as an advisor to the world’s largest asset-management companies, sovereign-wealth and pension funds, Ulrich’s views influence the allocation of trillions of dollars in assets.
She serves as an advisor to Chinese institutions making investments overseas. An annual poll of institutional investors, published in June 2007, ranked Ulrich as head of the top China team worldwide – a title she held five times, according to Institutional Investor magazine in June 2007, which put a photo of Ulrich on the cover of its international edition of that issue. During the past twelve years, Ulrich has achieved recognition as the industry’s most respected China watcher; until she moved into a more senior role, global investors in independent research polls of other publications such as Asiamoney magazine chose her as the best China strategist. Print and TV media interview Ulrich for her views on China; when traveling to the U. S. she is a frequent guest of Maria Bartiromo on CNBC's Closing Bell investor news program. She has appeared on the PBS Nightly Business Report. In Asia she speaks on Bloomberg Television. Ulrich’s views and columns appear in publications such as The Financial Times, The New York Times, The Wall Street Journal.
In recent years, the South China Morning Post, China Daily, others have referred to Ulrich as "the unofficial voice of China" and the "Oprah Winfrey of the investment world". The supervisory board of adidas AG nominated Ulrich in March 2019 as a member of its supervisory board for election by shareholders at the annual general meeting of May 2019. In 2017, the German multinational firm Bosch appointed Ulrich to its international advisory board. Ulrich joined the International Chamber of Commerce G
Los Angeles
Los Angeles the City of Los Angeles and known by its initials L. A. is the most populous city in California, the second most populous city in the United States, after New York City, the third most populous city in North America. With an estimated population of four million, Los Angeles is the cultural and commercial center of Southern California; the city is known for its Mediterranean climate, ethnic diversity and the entertainment industry, its sprawling metropolis. Los Angeles is the largest city on the West Coast of North America. Los Angeles is in a large basin bounded by the Pacific Ocean on one side and by mountains as high as 10,000 feet on the other; the city proper, which covers about 469 square miles, is the seat of Los Angeles County, the most populated county in the country. Los Angeles is the principal city of the Los Angeles metropolitan area, the second largest in the United States after that of New York City, with a population of 13.1 million. It is part of the Los Angeles-Long Beach combined statistical area the nation's second most populous area with a 2015 estimated population of 18.7 million.
Los Angeles is one of the most substantial economic engines within the United States, with a diverse economy in a broad range of professional and cultural fields. Los Angeles is famous as the home of Hollywood, a major center of the world entertainment industry. A global city, it has been ranked 6th in the Global Cities Index and 9th in the Global Economic Power Index; the Los Angeles metropolitan area has a gross metropolitan product of $1.044 trillion, making it the third-largest in the world, after the Tokyo and New York metropolitan areas. Los Angeles hosted the 1932 and 1984 Summer Olympics and will host the event for a third time in 2028; the city hosted the Miss Universe pageant twice, in 1990 and 2006, was one of 9 American cities to host the 1994 FIFA men's soccer World Cup and one of 8 to host the 1999 FIFA women's soccer World Cup, hosting the final match for both tournaments. Home to the Chumash and Tongva, Los Angeles was claimed by Juan Rodríguez Cabrillo for Spain in 1542 along with the rest of what would become Alta California.
The city was founded on September 4, 1781, by Spanish governor Felipe de Neve. It became a part of Mexico in 1821 following the Mexican War of Independence. In 1848, at the end of the Mexican–American War, Los Angeles and the rest of California were purchased as part of the Treaty of Guadalupe Hidalgo, becoming part of the United States. Los Angeles was incorporated as a municipality on April 4, 1850, five months before California achieved statehood; the discovery of oil in the 1890s brought rapid growth to the city. The completion of the Los Angeles Aqueduct in 1913, delivering water from Eastern California assured the city's continued rapid growth; the Los Angeles coastal area was settled by the Chumash tribes. A Gabrieleño settlement in the area was called iyáangẚ, meaning "poison oak place". Maritime explorer Juan Rodríguez Cabrillo claimed the area of southern California for the Spanish Empire in 1542 while on an official military exploring expedition moving north along the Pacific coast from earlier colonizing bases of New Spain in Central and South America.
Gaspar de Portolà and Franciscan missionary Juan Crespí, reached the present site of Los Angeles on August 2, 1769. In 1771, Franciscan friar Junípero Serra directed the building of the Mission San Gabriel Arcángel, the first mission in the area. On September 4, 1781, a group of forty-four settlers known as "Los Pobladores" founded the pueblo they called El Pueblo de Nuestra Señora la Reina de los Ángeles,'The Town of Our Lady the Queen of the Angels'; the present-day city has the largest Roman Catholic Archdiocese in the United States. Two-thirds of the Mexican or settlers were mestizo or mulatto, a mixture of African and European ancestry; the settlement remained a small ranch town for decades, but by 1820, the population had increased to about 650 residents. Today, the pueblo is commemorated in the historic district of Los Angeles Pueblo Plaza and Olvera Street, the oldest part of Los Angeles. New Spain achieved its independence from the Spanish Empire in 1821, the pueblo continued as a part of Mexico.
During Mexican rule, Governor Pío Pico made Los Angeles Alta California's regional capital. Mexican rule ended during the Mexican–American War: Americans took control from the Californios after a series of battles, culminating with the signing of the Treaty of Cahuenga on January 13, 1847. Railroads arrived with the completion of the transcontinental Southern Pacific line to Los Angeles in 1876 and the Santa Fe Railroad in 1885. Petroleum was discovered in the city and surrounding area in 1892, by 1923, the discoveries had helped California become the country's largest oil producer, accounting for about one-quarter of the world's petroleum output. By 1900, the population had grown to more than 102,000; the completion of the Los Angeles Aqueduct in 1913, under the supervision of William Mulholland, assured the continued growth of the city. Due to clauses in the city's charter that prevented the City of Los Angeles from selling or providing water from the aqueduct to any area outside its borders, many adjacent city and communities became compelled to annex themselves into Los Angeles.
Los Angeles created the first municipal zoning ordinance in the United States. On September 14, 1908, the Los Angeles City Council promulgated residential and industrial land use zones; the new ordinance established three residential zones of a single type, where industrial uses were
Welton Becket
Welton David Becket was an American modern architect who designed many buildings in Los Angeles, California. Becket was born in Seattle and graduated from the University of Washington program in Architecture in 1927 with a Bachelor of Architecture degree, he moved to Los Angeles in 1933 and formed a partnership with his University of Washington classmate Walter Wurdeman and Angelean architect Charles F. Plummer, their first major commission was the Pan-Pacific Auditorium in 1935, which won them residential jobs from James Cagney, Robert Montgomery, other film celebrities. Plummer died in 1939; the successor firm Wurdeman and Becket went on to design Bullock's Pasadena and a couple of corporate headquarters. Wurdeman and Becket developed the concept of "total design," whereby their firm would be responsible for master planning, interiors, fixtures, landscaping and menus, silverware and napkins. After Wurdeman's death in 1949, Becket formed Welton Becket and Associates and continued to grow the firm to the extent that it was one of the largest architectural offices in the world by the time of his death in 1969.
In 1987, his firm was acquired by Ellerbe Associates, the merged firm continued as Ellerbe Becket until the end of 2009, when it was acquired by AECOM. It is now known as an AECOM Company. Becket's buildings used unusual facade materials such as ceramic tile and stainless steel grillwork, repetitive geometric patterns, a heavy emphasis on walls clad in natural stone travertine and flagstone. With The Walt Disney Company and the United States Steel Corporation, Becket's firm co-designed Disney's Contemporary Resort, which opened in 1971 at Walt Disney World Resort; the Contemporary was designed as a 14-story steel A-frame with a monorail running through the building. Modular guest rooms were assembled, furnished equipped and their doors locked, on the ground lifted by crane and inserted into the frame. Welton Becket was elected a Fellow of the American Institute of Architects in 1952. Becket's sons, Welton MacDonald Becket & Bruce Becket, are practicing architects, as well as his nephew MacDonald G. Becket and granddaughter Alexandra Becket.
Becket's extensive list of credits includes: Pan-Pacific Auditorium, Los Angeles, 1935 Jones Dog & Cat Hospital, West Hollywood, California, 1938 Manila Jai Alai Building, Philippines, 1939 General Petroleum Building, Los Angeles, 1949 Beverly Hilton Hotel, Beverly Hills, 1953 Ronald Reagan UCLA Medical Center, Los Angeles, 1953 Parker Center, Los Angeles, 1955 Capitol Records Building, Los Angeles, Project Designer Lou Naidorf, 1956 Texaco Building on Wilshire Boulevard, Los Angeles, 1957 Santa Monica Civic Auditorium, Santa Monica, 1958 Hotel Tryp Habana Libre, Cuba, 1958 The Nile Ritz-Carlton, Cairo, Egypt, 1959 Sheraton Dallas Hotel, Dallas, 1959 100 California Street, San Francisco, 1960 Kaiser Center, Oakland, 1960 Grosmont Center, La Mesa CA, 1961 Christown Mall, Phoenix Arizona, 1961 Petersen Automotive Museum, Los Angeles, 1962 Walt Whitman Shops, Huntington Station, NY, 1962 Southern Cross Hotel, Australia, 1962 U. S. Embassy, Poland, 1963 Cinerama Dome, Los Angeles, 1963 Century City, Los Angeles, 1963 Gateway West Building, Century City, Los Angeles, 1963 Hartford National Bank, Hartford, CT 1963 McCarran International Airport, Las Vegas, NV 1963 Phillips Petroleum Building, Bartlesville, OK 1964 Federal Building, Los Angeles, 1964 Los Angeles Music Center, Los Angeles, 1964 General Electric Pavilion, New York City, 1964 Pauley Pavilion at UCLA, Los Angeles, 1965 Santa Monica Shores Apartments, Santa Monica CA, 1967 Gulf Life Tower, Florida, 1967 Xerox Tower, New York, 1967 City Hall, Project Designer Marvin Taff, 1969 Equitable Life Building, Los Angeles, 1969 800 Wilshire, Los Angeles, 1970 PNC Plaza, Louisville, 1971 Beverly Wilshire Hotel expansion, Beverly Hills CA 1971 Disney's Contemporary Resort, Lake Buena Vista, 1971 Worcester Center, Worcester, MA, 1971 Chase Tower, Phoenix, 1972 Nassau Veterans Memorial Coliseum, New York, 1972 Regions Center, Birmingham, 1972 Glendale Central Library, Project Designer, Marvin Taff, 1973 100 Summer Street, Boston, 1974 Reunion Tower, Dallas, 1978 One Market Plaza, San Francisco, 1972 Orange Civic Center, Orange, 1963 Park Plaza Mall, Oshkosh, WI, 1970, now City Center a commercial business center for Oshkosh.
Interiors of the new Los Angeles International Airport, 1962 Oral history — Perkins quote Bigfloridacountry.com: Video clip of construction of the Contemporary Resort Bigfloridacountry.com: Contemporary Pictures MacDonald Becket papers, Welton Becket and Associates Welton Becket architectural drawings and photographs Welton Becket at Find a Grave
George Peabody
George Peabody was an American financier and philanthropist. He is regarded as the father of modern philanthropy. Born into a poor family in Massachusetts, Peabody went into business in dry goods and into banking. In 1837 he moved to London where he became the most noted American banker and helped to establish the young country's international credit. Having no son of his own to whom he could pass on his business, Peabody took on Junius Spencer Morgan as a partner in 1854 and their joint business would go on to become J. P. Morgan & Co. after Peabody's 1864 retirement. In his old age, Peabody won worldwide acclaim for his philanthropy, he founded the Peabody Trust in Britain and the Peabody Institute and George Peabody Library in Baltimore, was responsible for many other charitable initiatives. For his generosity, he was awarded the Congressional Gold Medal and made a Freeman of the City of London, among many other honors. Peabody was born in 1795 in what was South Danvers, Massachusetts, his family had Puritan ancestors in the state.
As one of seven children in a poor family, George suffered some deprivations during his childhood, was able to attend school for only a few years. He expressed "I have never forgotten and never can forget the great privations of my early years"; these factors influenced his devotion to both thrift and philanthropy. In 1816, he moved to Baltimore, where he would live for the next 20 years, he established his residence and office in the old Henry Fite House, became a businessman and financier. At that time London, Amsterdam and Frankfurt were at the center of international banking and finance; as all international transactions were settled in gold or gold certificates, a developing nation like the United States had to rely upon agents and merchant banks to raise capital through relationships with merchant banking houses in Europe. Only they held the quantity of reserves of capital necessary to extend long-term credit to a developing economy like that of the US. Peabody first visited England in 1827, seeking to use his firm and his agency to sell American states' bond issues, to raise capital for those states' various programs of "internal improvements".
Over the next decade Peabody made four more trans-Atlantic trips, starting in 1835 and establishing a branch office in Liverpool. He established the banking firm of "George Peabody & Company" in London. In 1837, he took up permanent residence in London. In the 1840s, the state of Maryland defaulted on its debt and Peabody, having marketed about half of Maryland's securities to individual investors in Europe, became persona non grata around London; the Times of London noted that while Peabody was an "American gentleman of the most unblemished character", the Reform Club had blackballed him for being a citizen of a country that reneged on its debts. At first, Peabody sent letters to scold Baltimore friends about the need for the state to resume interest payment and rewarded reporters with small gratuities for favourable articles about the state. At last, in 1845 he conspired with Barings to push Maryland into resuming payment by setting up a political slush fund to spread propaganda for debt resumption and elect legislators who would placate their investors.
By means of a secret account, the two firms transferred a thousand sterling to Baltimore and bribed Daniel Webster, the orator and statesman, to make speeches for debt repayment. Their attempts were successful: pro-resumption Whigs were elected and London bankers started to receive payments. Barrings duplicated the same tactics in Pennsylvania. Florida and Mississippi were the most persistent debtors and as such were excluded from Peabody's philanthropies. Although Peabody was engaged in 1838, he never married. Ron Chernow describes him as "homely", with "a rumpled face... knobby chin, bulbous nose, side whiskers, heavy-lidded eyes."Peabody entertained and provided letters of introduction for American businessmen visiting London, became known for the Anglo-American dinners he hosted in honor of American diplomats and other worthies, in celebration of the Fourth of July. In 1851, when the US Congress refused to support the American section at the Great Exhibition at the Crystal Palace, Peabody advanced £3000 to improve the exhibit and uphold the reputation of the United States.
In 1854, he offended many of his American guests at a Fourth of July dinner when he chose to toast Queen Victoria before US President Franklin Pierce. At around this time, Peabody began to suffer from rheumatoid gout. In February 1867, on one of several return visits to the United States, at the height of his financial success, Peabody was suggested by Francis Preston Blair, an old crony of President Andrew Jackson and an active power in the smoldering Democratic Party as a possible Secretary of the Treasury in the cabinet of President Andrew Johnson. At about the same time, Peabody was mentioned in newspapers as a future presidential candidate. Peabody described the presidential suggestion as a "kind and complimentary reference", but considered that at age 72, he was too old for either office. While serving as a volunteer in the War of 1812, Peabody met Elisha Riggs, who, in 1814, provided financial backing for what became the wholesale dry goods f
J. P. Morgan Jr.
John Pierpont "Jack" Morgan Jr. was an American banker, finance executive, philanthropist. Morgan Jr. inherited the family fortune and took over the business interests including J. P. Morgan & Co. after his father J. P. Morgan died in 1913. A graduate of St. Paul's School and Harvard, he was trained as a finance executive in the business world, having worked for both his father and grandfather, that would serve him well as a banking financier and lending leader, was a director of several companies, he supported the New York Lying-In Hospital, the Red Cross, the Episcopal Church, provided an endowment for the creation of a rare books and manuscripts collection at the Morgan Library. Morgan brokered a deal that positioned his company as the sole munitions and supplies purchaser during World War I for the British and French governments; the results produced a one percent commission on $3 billion to the company. Morgan was a banking broker for financing to foreign governments both during and after the war.
Morgan was born on September 7, 1867 in Irvington, New York to J. P. Morgan and Frances Louisa Tracy, he graduated from St. Paul's School and Harvard College, in 1886, where he was a member of the Delphic Club known as the Delta Phi, his siblings included Louisa Pierpont Morgan, who married Herbert L. Satterlee, Juliet Pierpont Morgan who married William Pierson Hamilton, Anne Tracy Morgan, a philanthropist, his paternal grandparents were Junius Spencer Morgan and Juliet Pierpont, the daughter of John Pierpont. The younger Morgan resembled his father in his dislike for publicity and continued his father's philanthropic policy. In 1905, his father acquired the Guaranty Trust bank as part of his efforts to consolidate banking in New York City. After his father died in 1913, the bank became Jack's base. Morgan played a prominent part in financing World War I. Following its outbreak, he made the first loan of $12,000,000 to Russia. In 1915, a loan of $500,000,000 was made to France and Britain following negotiations by the Anglo-French Financial Commission.
The firm's involvement with British and French interests fueled charges the bank was conspiring to maneuver the United States into supporting the Allies in order to rescue its loans. By 1915, when it became apparent the war was not going to end the company decided to forge formal relationships with France; those dealings became strained over the course of the war as a result of poor personal relations with French emissaries, relationships that were heightened in importance by the unexpected duration of the conflict, its costs, the complications flowing from American neutrality. Contributing to the tensions was the favoritism displayed by Morgan officials to British interests, his personal friendship with Cecil Spring Rice ensured that from 1915 until sometime after the United States entered the war, his firm was the official purchasing agent for the British government, buying cotton, steel and food, receiving a 1% commission on all purchases. Morgan floated a loan of $500,000,000 to the Allies.
The British sold off their holdings of American securities and by late 1916 were dependent on unsecured loans for further purchases. At the beginning of World War I, US Treasury Secretary William McAdoo and others in the Wilson administration were suspicious of J. P. Morgan & Co.'s enthusiastic role as British agent for purchasing and banking. When the United States entered the war, this gave way to close collaboration, in the course of which Morgan received financial concessions. From 1914 to 1919, he was a member of the advisory council for the Federal Reserve Bank of New York. On July 3, 1915, an assassin, Eric Muenter, shot him twice; this was ostensibly to bring about an embargo on arms, in protest of his profiteering from war. Morgan, however recovered from his wounds. After World War I and the Versailles Treaty, Morgan Guaranty managed Germany's reparation payments. After the war, Morgan made several trips to Europe to investigate and report on financial conditions there. In 1919 he was for a time chairman of the international committee, composed of American and French bankers, for the protection of the holders of Mexican securities.
In November 1919, he was made a director of the Foreign Finance Corporation, organized to engage in the investment of funds chiefly in foreign enterprises. By the 1920s, Morgan Guaranty had become one of the world's most important banking institutions, as a leading lender to Germany and Europe. During the Great Depression he took heavy financial losses; the assets of the House of Morgan fell 40% from $704 million to $425 million. American banking came under heavy attack. Morgan personified banking, drew attacks from politicians in the U. S. Senate's Pecora hearings of 1932, which "created a tidal wave of anger against Wall Street", he was a director in numerous corporations, including the U. S. Steel Corp. the Pullman Co. the Aetna Insurance Co. and the Northern Pacific Railway Co. In 1890, Morgan married Jane Norton Grew, daughter of Boston banker and mill owner Henry Sturgis Grew, she was the aunt of Henry Grew Crosby. The couple raised four children: Junius Spencer Morgan III, who married Louise Converse, daughter of Frederick Shepherd Converse, in 1915.
Jane Norton Morgan Nichols, who married George Nichols. Frances Tracy Pennoyer, who married Paul Geddes Pennoyer, a lawyer, in 1917. Henry Sturgis Morgan, a founding partner of Morgan Stanley who married Catherine Lovering Ad
James A. Bell
James A. Bell is a retired American executive of The Boeing Company. Bell is a retired President, Executive Vice President and Chief Financial Officer of The Boeing Company, he served as interim President and Chief Executive Officer of the Boeing Company on March, 2005, following the resignation of Harry Stonecipher. He returned to his singular role as Boeing's CFO on June 30, 2005 following the appointment of Jim McNerney as the new President and Chief Executive Officer of the Boeing Company, he was appointed Corporate President in June 2008. On June 14, 1948, Bell was born in California. Bell was the youngest of four children. Bell's mother Mamie was a former Los Angeles County government clerk, his father died in 2003. In 1997, Bell earned his bachelor's degree in Accounting from California State University, Los Angeles. A partial scholarship helped pay for his first year of college, but he had to earn enough to pay his way through the remainder of school. In 1972 he joined the Rockwell company as an accountant.
At that company he followed a path into management, from corporate senior internal auditor to accounting manager and as manager of general and cost accounting. He joined Boeing in 1996. Within Boeing, he has held positions as vice president of contracts and pricing for the company's Space and Communications Division, he became senior vice president of finance and corporate controller. In November 2004 he became the company's Chief Financial Officer, following the firing of Michael M. Sears due to a government contract scandal, he is a member of the board of directors of J. P. Morgan Chase, Dow Chemical Company, the Chicago Urban League, World Business Chicago, the Chicago Economic Club, New Leaders for New Schools and Apple Inc. Bell retired from the Boeing Company effective April 1, 2012. On Feb 1, 2012, Greg Smith succeeded Bell as executive vice president and chief financial officer of Boeing Company. In 2004, at the 32nd Alumni Awards Gala, Bell was the recipient of California State University, Los Angeles's Distinguished Alumnus or Alumna of the College of Business and Economics.
Bell is married to Mary. Bell has two children and Sean. W. James McNerney, Jr. executive biography
.jpg)
