“Go ahead and do things, the bigger the better, if your fundamentals are sound. Avoid procrastination. Do not quibble for an hour over things that might be decided in minutes.” — John Raskob, Financier and Builder of the Empire State Building
With the flick of a switch, 88 years ago today President Herbert Hoover turned on the lights of Manhattan’s iconic Empire State Building. Reaching 102 stories into the sky, the Art Deco-inspired structure was born out of a competition between Walter Chrysler of the Chrysler Corporation and John Raskob of General Motors to erect the world’s tallest building. After both projects were complete, the 1,250-feet high (1,454 if you include the lightning rod) Empire State Building had edged out the Chrysler Building (recently sold at the bargain price of $150 M) by more than 200 feet, establishing its four-decade reign as the world’s tallest skyscraper until the original World Trade Center beat the record in 1970.