What’s in a name?

Wharton’s on-line newsletter has an article on the generations old practice of entreprneurs naming their businesses after themselves. Companies from Ford to Dell have followed this custom. But, when the founder of one these businesses has significant ethical or legal issues arise, this can create a public relations disaster, such as that now facing Martha Stewart’s namesake business. This article examines the marketing a p.r. advantages and disadvantages of naming a business after its founder.

Entrepreneurs give back

One of the implicit rules of a healthy free enterprise economy is that those with wealth recognize their obligation to give back to their community and to the broader society in which they live. The National Dialoge on Entrepreneurship reports that the Slate 60, which lists the top sixty philanthropists each year, has good representation of entrepreneurs among this year’s honor roll, including “Joan Kroc, widow of McDonalds’ Ray Kroc, who donated more than $1.91 billion to various causes such as the Salvation Army and National Public Radio. Michael Dell ranks No. 2; his Dell Foundation made more than $673 million in grants last year. Other big entrepreneurial givers include Ted Turner, Paul Allen, and Pierre Omidyar of Ebay.”