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.
Charles M. Schwab was an American businessman and steel magnate who founded Bethlehem Steel Corporation. He played a significant role in the expansion of the American steel industry during the late 19th and early 20th centuries. Schwab's business acumen and innovations in steel manufacturing contributed to the growth of the nation's industrial infrastructure. His contributions to the steel industry and business community have been recognized as pivotal in American history.