Alwin C. Ernst

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Alwin Charles Ernst
BornJuly 26, 1881
DiedMay 13, 1948
Cleveland, Ohio, US
NationalityAmerican
EducationBusiness college
OccupationAccountant, Racehorse owner/breeder
Known forCo-founder, Ernst & Ernst
Children4 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[edit]

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] Ernst was buried at Knollwood Cemetery in Mayfield Heights, Ohio.[3]

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.[4]

Thoroughbred racing[edit]

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.[5] 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.[6] Throughout most of his time in racing, Ernst's horses were trained by Jack Skirvin.

References[edit]

  1. ^ Ernst & Young Guardian, 26 October 2002
  2. ^ Commentary: The pity of it all Accounting Today, September 2004
  3. ^ "Alwin C. Ernst". The Plain Dealer. May 15, 1948. p. 6.
  4. ^ Gelding Brings $106,000 at Saratoga Sale Los Angeles Times, 22 August 1948
  5. ^ Alorter Scores Upset Victory in Cowdin Stakes; $35.90 FOR $2 SHOT TRIUMPHS BY A HEAD New York Times, 16 September 1943
  6. ^ Sports of the Times; Looking Over the Field New York Times, 4 April 1949

Further reading[edit]