A concern that produces its own raw materials, and works them up through the various processes until it delivers the manufactured product in the domestic or foreign market, can work on a narrower margin all around, and yet do full justice to its stockholders and employees.

We make our own labor unions. We organize our labor into units of 300, and then the representatives of these 300 meet together every week. Then every fortnight they meet with the head men.

I'm making better than two million a year, but it's hard work. The luxuries and pleasures I enjoy in my spare time keep me in condition to do that work. Carnegie and Frick have more money than I have, but I'm getting more value for my dollars than they are.

Charles M. Schwab Quotes