Alwin C. Ernst
| Alwin Charles Ernst | |
|---|---|
| Born |
July 26, 1881 Cleveland, Ohio, United States |
| Died |
May 13, 1948 Cleveland, Ohio, United States |
| Residence | Cleveland, Ohio |
| Education | Business college |
| Occupation | Accountant, Racehorse owner/breeder |
| Known for | Co-founder Ernst & Ernst |
| Children | 4 daughters |
Alwin Charles Ernst (CPA) (July 26, 1881 - May 13, 1948) was an American businessman who co-founded the accounting firm of Ernst & Ernst in 1903 and who is credited with inventing management consulting.
Biography
Ernst was born on July 26, 1881 in Cleveland, Ohio. After finishing high school, Ernst took evening courses at a business college. In 1900, he went to work for The Audit Co. in Cleveland.[1] Ernst died at age sixty-six on May 13, 1948 at the Lakeside Hospital in Cleveland.
In 1903, Ernst and his older brother Theodore founded the Ernst & Ernst bookkeeping service with an invested capital of $500. In October 1906, Theodore left the business.
Ernst expanded his business credentials by obtaining his Ohio Certified Public Accountant (CPA) certificate in 1910. Aggressive and ambitious, Ernst had already opened offices in Chicago by 1908 and in New York City by 1909.
By the time of his death on May 13, 1948, Ernst had grown the business to more than fifty offices in the United States and Canada.[2] After Ernst's death, his estate went to his four daughters and in August 1948 they sold most of his racing stable through an auction at Saratoga Race Course. A part of the dispersal, Algasir was purchased by F. Ambrose Clark for US$106,000.[3]
Thoroughbred racing
Ernst owned and bred Thoroughbred racehorses, primarily those that ran in sprint races. Among his best horses was multiple stakes winner Alorter whose wins included the 1943 Cowdin Stakes.[4] Ernst also bred Algasir but died before he could see the horse win the 1948 Cowdin and Flash Stakes and set a world record for four furlongs.[5] Throughout most of his time in racing, Ernst's horses were trained by Jack Skirvin.
References
- ↑ Ernst & Young Guardian, 26 October 2002
- ↑ Commentary: The pity of it all Accounting Today, September 2004
- ↑ Gelding Brings $106,000 at Saratoga Sale Los Angeles Times, 22 August 1948
- ↑ Alorter Scores Upset Victory in Cowdin Stakes; $35.90 FOR $2 SHOT TRIUMPHS BY A HEAD New York Times, 16 September 1943
- ↑ Sports of the Times; Looking Over the Field New York Times, 4 April 1949