INGATE

From The Sip Trunking Experts

[May 23, 2007]

Richmonder took risk on shipbuilding business

(Richmond Times-Dispatch (VA) (KRT) Via Thomson Dialog NewsEdge) May 23--When Cerberus Capital Management LP recently announced it will acquire controlling interest in unprofitable automaker Chrysler, business analysts marveled at the risks involved.


"We are not naive," Richmonder John W. Snow, chairman of Cerberus, told The Times-Dispatch. "We know that the company -- the whole industry -- continues to face difficulty."

In the late 19th century, another Richmonder took a similar risk. Like Snow, industrialist William R. Trigg understood that risk-taking is fundamental to any business venture -- whether saving an old business, or starting a new one.

Trigg's venture was something new. "He had founded, as if with the wave of a wand, a great plant and a great and new industry," The Richmond Dispatch said of his attempt to turn Richmond into a major inland shipbuilding center.

The city still was recovering from an economic depression when Trigg surprised everyone in August 1898 by announcing that he had obtained government contracts to build several torpedo boats and destroyers. Trigg already had leased a vacant plant at 17th and Cary streets and secured rights to nearby property with river access. That October, the William R. Trigg Shipbuilding Co. obtained a charter and began work on two torpedo boats for the Navy, the Shubrick and the Stockton. By January, their keels were laid.

"At first, the idea of building warships at this city was received with skepticism, not to say ridicule, especially by the seashore cities," The Dispatch said. But by late 1899, Trigg Shipbuilding Co. had turned ridicule into praise.

Trigg and the Richmond industrial community pulled out all stops for the October 31, 1899, launching of the Shubrick, named in honor of a Navy officer of the early 19th century, William Bradford Shubrick. President William McKinley agreed to deliver an address for the historic occasion.

But launching day turned into a comedy of errors. Torrential rains developed early that morning and lasted through the day. The Richmond Times said rain was so heavy, the Shubrick could have been launched on Broad Street. A 10 a.m. parade showcasing local industries had to be postponed until the next day.

Still, McKinley's presence brought an estimated 30,000 people to the docks for the 3:30 p.m. ceremony. The president valiantly refused the offer of an umbrella while speaking, but his last sentences were lost in clanging and clattering made by shifting the Shubrick from its cradles to slides that would carry it into the river.

Christening honors went to a young Shubrick descendant, Carrie Shubrick. As ropes holding the ship were cut, she shouted, "I christen thee Shubrick," and slammed the champagne bottle against the hull. But the bottle failed to break. "One of the men on board leaned over the side, and seizing the bottle of champagne, broke it against the side of the boat," The Dispatch said.

Once launched, the Shubrick afloat was a memorable sight for Richmonders. But their delight was momentary. A steamboat docked nearby suddenly capsized after about 100 passengers rushed to one side to get better views. The accident spilled dozens into the river, but no one drowned.

Despite its inauspicious debut, Trigg Shipbuilding Co. won a steady stream of contracts after the first launching. Vessels built in Richmond included destroyers, steamers, cruisers, tugboats, dredges, cutters and several more torpedo boats.

But the company's financial health followed Trigg's personal health into a sudden decline. Trigg became ill in January 1902 and was unable to work again. That December, Trigg Shipbuilding Co. entered receivership. Court proceedings revealed that the company had submitted bids too low to support the plant's continuing expansion. Though creditors and investors initially were optimistic that the business could recover its losses, without the direction of Trigg, the company's fate followed his.

Trigg died Feb. 16, 1903, at age 53, and the shipbuilding company he founded soon ceased operation.

Contact Times-Dispatch librarian/researcher Larry Hall at lhall@timesdispatch.com or (804) 649-6076. Time Capsules features items from the archives of the Richmond Times-Dispatch and The Richmond News Leader. To learn more about past events in your community, try searching www.archivesva.com. For events before 1985, contact the News Research Library at (804) 649-6224 for assistance.

Copyright (c) 2007, Richmond Times-Dispatch, Va.
Distributed by McClatchy-Tribune Information Services.
For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

[ Back To SIP Trunking Home's Homepage ]

Loading
Subscribe here for your FREE
SIP TRUNKING enewslettter.

Featured Partner


Featured Whitepapers

SIP Security for the Enterprise
Voice over IP (VoIP) is incorporated into a variety of computer networks, both public and private, and used for everyday transactions and communications among carriers, businesses, government agencies...

Making A Broadband Purchase Decision
Businesses today have many options for broadband connectivity. Clarifying your particular business needs prior to selecting a broadband provider will ensure an optimal match of broadband service to your requirements.

Voice-Optimized Network Delivers Premier Call Experience
Customers equate call quality with business quality. Real-time communication, interpersonal interaction, and the cordial tone of a call center representative can create a positive impression of your business that no email can match.

Featured Case Studies

Business Telecom Expenses Reduced 50%
A small to medium sized company in the midwest was interested in migrating to IP Communications, but in today's economy, they were hesitant to upgrade their communication system due to their perception that the cost would outweigh the benefits.

Multi-State Company Cuts Telecom Costs 50%
A multi-site, multi-state company with extensive monthly long distance fees and toll-free charges did not have adequate broadband for Broadvox SIP Trunking requirements, nor did they have a SIP enabled telephone system.

Discover Leisure Connects Remote Users to its IP-PBX
Discover Leisure is one of the largest resellers of caravans and motor homes in the UK. With 15 branch of?ces all over the country, the company spent a great deal of money every month just on internal phone calls.

Featured eBOOKS

Internet+: The Way Toward Global Unified Communication
Connecting the telephony of the enterprise PBX or Unified Communications (UC) system using SIP trunks instead of conventional telephone lines has been very successful in recent years.

What is SIP Trunking? Edition 2
SIP trunking is becoming more of a focus for service providers. One key issue many service providers face when deploying SIP trunks is NAT, or Network Address Translation, traversal.

What is SIP Trunking? Edition 1
A vast resource for information about all things SIP - including SIP, security, VoIP, SIP trunking and Unified Communications.

Featured Videos

Broadvox VAR Testimonial VAR 1:
Part 1 of the VAR (Value Added Reseller) Partner Program Testimonials for Broadvox...

E-SBCs AS The Demarcation Point:
Ingate's Steve Johnson talks to Erik Linask about the role session border controller plays as the demarcation point at...

Demystifying DPI
How can deep packet inspection protect your SIP traffic as well as your entire network?

Featured Resources

Partner Program Overview:
Over 4,000 VARs, Master Agents, Solution Providers, and Independent IT Professionals trust Broadvox. We offer customized services and solutions to fit seamlessly into any company's business model. And when you partner with Broadvox, every member of our team stands behind you and your customers 100%...

SIP Trunk UC Summit

What's New

Presenting the New Ingate/Intertex Website:
Internet+ is an extended Internet access allowing high quality SIP (Session Initiation Protocol) based real-time person-to-person communication, everywhere and for any application. It applies to both fixed and mobile networks ...

Featured Blogs

Featured Webinars

Secure SIP Trunking:
What You Need to Know

Successfully Deploying Enterprise SIP Trunking:
Tools and Techniques for Overcoming Common Roadblocks

Featured Podcasts

Getting the Most Out of Your SIP Trunks:
Ingate's Steve Johnson and TMC's Erik Linask discuss how best practices forgetting the most out of SIP Trunking services and common pitfalls to avoid.

Featured Datasheets

Ingate SIParator E-SBCs
Adopting SIP is a simple process with the Ingate SIParator, the secure enterprise session border controller (E-SBC). The SIParator makes secure SIP communications - including VoIP,SIP trunking and more - possible while working seamlessly with your existing network firewall.

Ingate Firewalls
Everyone is talking about enterprise usage of VoIP, instant messaging and other types of realtime communications including presence and conferencing.

SIP Trunk Solutions for Service Providers
The award-winning Ingate Firewall and Ingate SIParator deliver a high quality, reliable SIP trunk connection between the customer's IP-PBX and the service provider network, and solve interoperability issues to simplify deployments and support for remote diagnosis of reported issues.