Charles M. Schwab Quotes
Labor should be recognized as entitled to consult with management in the mutual interest. Labor cannot be driven, and business cannot be successful unless the men employed in it are enthusiastic and loyal. That loyalty cannot be obtained with a big stick; it must be based upon fair dealing and sympathy.
Hessen, Robert. Steel Titan: The Life of Charles M. Schwab. Oxford University Press, 1975, p. 252.
At the time, the mine owners and operators claimed that they had NO obligations to their workers—not even to ensure a safe mine. There was no OSHA and workers died and were maimed on the job much more frequently than they do today. Many mine owners now accept that they have obligations to the workers, and the rest are required to have responsible and safe working conditions by law and OSHA regulations.
Charles Michael Schwab was an American steel magnate. Under his leadership, Bethlehem Steel became the second-largest steel maker in the United States, and one of the most important heavy manufacturers in the world.