Business of Giving: You Wanna Be Like Paul Newman?
Actor, race-car driver, philanthropist is model for us all.
Yes. So human and so simple.
Newman always made it look easy: From its inception in 1983, his company, Newman’s Own, has donated all profits to charity. Twenty-five years later, and now selling everything from popcorn to pasta sauce to organic snacks, Newman’s Own has donated $250 million to charities worldwide. The project nearest to his heart was the Hole in the Wall Camps, which make it possible for seriously ill children to have some seriously normal summertime fun.
But here’s what’s truly fantastic: He didn’t stop there. Newman didn’t want to be the only CEO giving away his profits. Ten years ago, he co-founded the Committee to Encourage Corporate Philanthropy (CECP). What started with 10 CEOs brainstorming innovative ideas for philanthropy has blossomed into a powerful organization comprising 175 members from 150 of the nation’s leading companies. JPMorgan Chase (JPM), Gap (GPS), Citigroup (C), GMAC Financial Services (GJM) and Johnson & Johnson (JNJ) are just a few of the proud members whom we know to be generous philanthropists.
Newman and the other founders wanted to create a forum where CEOs could have a peer-to-peer exchange on the issue of corporate philanthropy. Lindsay Siegel, associate director of CECP, tells me that members are always talking about innovative ways they can give back. After all, charitable giving can be more than just signing a check. Sharing expertise and resources with nonprofit groups can be just as vital.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.