Julius Rosenwald Edit Profile
He was active in the wholesale clothing business from 1879 until he joined Sears, Roebuck in 1895, just as the modern history of the company began. Rosenwald became vice president and owner of one-third of the company's stock. Rosenwald succeeded Richard Warren Sears as president of Sears, Roebuck in 1908.
In 1916 Rosenwald testified on wage policy for sales clerks before the Illinois Senate Committee on Vice. A highly successful profit-sharing plan for Sears, Roebuck employees instituted in 1916 was partly his achievement. However, the Panic of 1920-1921-when wholesale and retail prices declined precipitously-caught Sears, Roebuck with an excessive inventory bought at high prices during World War I.
To bail the company out, Rosenwald advanced money to Sears, Roebuck in 1921, though he was under no legal or moral obligation to act in this fashion. He ended his term as president in 1924 and became chairman of the board of directors, a position he held until he died.
Rosenwald was active in public service between 1916 and 1919 and was absent from his company's affairs for about the same time. He was appointed a member of the Council of National Defense and chairman of its committee on supplies. Philanthropy became more important to him after the Panic of 1920-1921.
Rosenwald's philanthropy aimed at social welfare, and his donations benefited the Young Men's Christian Association and the Young Women's Christian Association, among other agencies.
He died in Chicago on January 6, 1932.
As chief executive, he emphasized administration, system, and order. He was a careful merchandiser concerned with merchandise selection and restrained selling. He had great faith in the mail-order business and looked for long-run advantages. The company expanded enormously and entered the retail chain-store business during the years Rosenwald was a dominant figure.
In 1890, Rosenwald married Augusta Nusbaum, a daughter of a competing clothier. Together they had five children: Lessing J. Rosenwald, Adele (Rosenwald) Deutsch Levy, Edith (Rosenwald) Stern, Marion (Rosenwald) Ascoli and William Rosenwald. Their son Lessing Rosenwald became a prominent businessman, following his father in the chairmanship of Sears, Roebuck & Company (1932–1939). One of his grandchildren is Nina Rosenwald.
- Schools of Hope: How Julius Rosenwald Helped Change African American Education
- Julius Rosenwald: The Man Who Built Sears, Roebuck and Advanced the Cause of Black Education in the American South (Philanthropic and Nonprofit Studies)
- A Catalog of the Gifts of Lessing J. Rosenwald to the Library of Congress, 1943 to 1975
- A Force for Change: African American Art and the Julius Rosenwald Fund (2009-02-05)
- Julius Rosenwald Fund 1917-1936
- A Force for Change: African American Art and the Julius Rosenwald Fund
- Schools of Hope: How Julius Rosenwald Helped Change African American Education by Finkelstein, Norman H. (2014) Hardcover
- The North Star: Julius Rosenwald's Impact Upon Black America
- You Need a Schoolhouse: Booker T. Washington, Julius Rosenwald, and the Building of Schools for the Segregated South by Deutsch Stephanie (2011-12-30) Hardcover
- Julius Rosenwald Fund 1931 1933Review For The Two Year Period
- Julius Rosenwald Fund - Review for the Two-Year Period 1931-1933
- Julius Rosenwald: Repairing the World (Jewish Lives)
- Julius Rosenwald Fund 1917 1936Review Of Two Decades
- Edwin Rogers Embree: The Julius Rosenwald Fund, Foundation Philanthropy, and American Race Relations (Philanthropic and Nonprofit Studies)
- The Rosenwald Schools of the American South (New Perspectives on the History of the South)
- Julius Rosenwald: The Man Who Built Sears, Roebuck and Advanced the Cause of Black Education in the American South (Philanthropic and Nonprofit Studies) by Peter M. Ascoli (2015-08-17)