JP Morgan, owner of the Titanic, was supposed to join her but canceled passage

The Titanic, was owned by the American railroad tycoon, J.P. Morgan who had his very own private suite and promenade deck on the Titanic. He was supposed to join her for her maiden voyage but canceled passage.

The neologism to Morganize became synonymous with ruthless business practices by aggrandizing robber barons out to corner whole industries for the sole purpose of maximizing their fortunes.

J Pierpont Morgan's railroads and steel mergers [such as the Pennsylvania Railroad and US Steel] may have fit that stereotype. His less sanguine venture into ocean shipping was viewed in the same light by contemporary critics. Later commentaries were somewhat kinder. John G. B. Hutchins wrote of the formation of the IMMC [INTERNATIONAL MERCANTILE MARINE COMPANY]:

'This was the most vigorous attempt of American capitalists to avoid the burdensome restrictions of the registry laws and to take advantage of the economy and security of combination. The episode in a sense indicated that the American capitalist economy had begun to approach maturity and was in a position to raise large sums of capital, found great trusts and/or combines, and reached out for control of resources and instrumentalities overseas.'