Monopolies (Vertical or Horizontal Intergration)
Storyboard Text
- Monopolies
- How the rich got richer
- Hey dad! What was the standard oil monopoly?
- Great question honey! It all started in 1870 in Cleveland, Ohio.
- Flashback
- I want to expand my business! I'm going to buy out my coworker Maurice B. Clark!
- In 1863 there was a man named John D. Rockefeller who started an oil refinery business
- You see honey, one day Rockefeller; he finally did it. He owned almost all oil produced in the states. His monopoly was one like no other
- That's great boss! Congratulations!
- I've done it! I own 95% of the oil produced in this fine country! No one can stop me now!
- Then what happened Dad? That monopoly it doesn't really seem fair!
- They think they've beat me! We'll see about that. This stupid court ruling won't stop me!
- That's because it wasn't sweetheart. In 1892 the Supreme Court ruled they had to dispan; but they just worked around the ruling.
- Present Day
- Wow dad! That's really interesting, now I know all about John D. Rockefeller and the Standard Oil Monopoly!
- In an attempt to beat the court Rockefeller turned his one big company into 33 holding companies. Until 1911 when they were forced to officially separate and Standard Oil dissolved itself with only 8 companies still using the name until around 1999 when all the companies were bought out and renamed.
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