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Industrialist Charles M. Schwab Dedication To Hard Work Helped Him Lead The Steel-Producing Pack.(A)(Leaders & Success)

Investor's Business Daily

| February 01, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Nancy Gondo

Investor's Business Daily

Charles Schwab didn't believe in saying "I don't know." If he didn't know something, he'd study it until he did.

Even in grade school, this stubborn will to learn was evident. In math class, if there was a problem that Schwab (1862-1939, no relation to the founder of Charles Schwab & Co.) couldn't solve, he never let on that this was the case. He believed he could figure out the answer.

"He'd go to the blackboard and

mark away with might and main," one of his teachers recalled in Robert Hessen'sbiography, "Steel Titan: The Life of Charles M. Schwab." "And he wouldn't stopuntil he had solved the problem or had convinced us that he knew how to get the right answer."

This approach, along with hard work, an ability to deal well with people and a keen business sense, helped Schwab become the president of United States Steel Corp., the first billion-dollar enterprise, at age 39. A few years later, in 1901, he bought Bethlehem Steel Corp. and in 10 years built it into the world'ssecond-largest steel producer.

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