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How Did Goldman Sachs Become The Owner Of Sears

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Goldman Sachs became a major player in the IPO market in 1906 when the company handled the initial equity sales for companies such as Sears and Roebuck & Co. The handling of Sears's IPO occurred due to Harry Sachs close, personal friendship with the current owner of Sears, Julius Rosenwald. The company took a turn in 1917 when Henry Goldman, under pressure from the other partners because of his pro-german stance, resigned leaving the Sachs in complete control of the company. In 1918, A man by the name of Waddill Catchings joined the firm and by 1928 was the partner with the largest stake in the firm. During those 10 years, Goldman Sachs became more and more focused on trading in the stock market so much so, that they launched Goldman Sachs
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