Sunday Morning on 12 April 2015. The Money Issue.
Second, Anna Werner on art in money. Third, Tracy Smith on Jeremey Piven. Fourth, Seth Doane on "in the pink" in Japan, about cherry blossoms. Fifth, Donald Trump. Headlines: Obama and Castro meet in Panama City. Reported by Major Garrett. Hillary Clinton set to announce she is running for president. Funeral of Walter Scott. Jordan Spieth at Masters. Weather 60s in northeast.
Pulse. World's richest 80 people have same wealth as half the world's population.
**Cowan's report on naming products begins with Abbott and Costello's bit on "who's on first." Lexicon of Sausalito, CA. Outback. Onstar, Pentium, Dasani. Clip of Don Draper: carousel. Singer, Hoover. Later: need to be bigger than own name. Tesla. A good name is like poetry. Sound symbolism. The sound of the letter "b". Blackberry. Enjoyment and ease. Strawberry. then Blackberry. Swiffer. Swiping and sweeping. Dibs. Febreze.
“Just how important is a name? My simple answer to this is, nothing will be used for a longer period of time or more often than a company’s name. It’s not just a creative exercise. It’s a strategic one.”
- David Placek, The Globe And Mail, May 2014
**Anna Werner: coins are works of art. Don Everhart is lead sculptor for US Mint in Philadelphia. Everhart starts with a clay model. 1792: mint was born. 2.7 million in coins per day.
**Nancy Giles. Flowing hair penny in 1793. Matthew Whitman. Flying Eagle, Indian Head, and Lincoln in 1909. Jeff Gore: retire the penny. Mark Weller wants the penny saved (Americans for Common Sense). The Lincoln Restaurant in DC.
It costs 1.6 cents to make a penny and 9 cents to make a nickel.
Woman desired on $20. Eleanor Roosevelent 24%; Rosa Park 23%.
**Kevin Sullivan at Keurig Green Mountain. Making coffee a cup at a time. Pumpkin Spice. Mountain Blueberry.
Single serve found the "hidden need." $4.7 billion per year. What to do with the used pods? Now, recyclable pods.
**Seth Doane. Welcoming tourists to Japan. A marketing winner that no one has to think about. Treasure things which are fleeting. 1912: gifts to DC in Taft Administration. 350,000 Chinese to Japan in this period.
**Dean Reynolds on Steve Boch of Shinola. Not running with the herd. Detroit has turned out to be a successful decision for Shinola. High end wrist watches. Bikes. Build a business that has legs. 300 people work at the Shinola plant. John Moy of "Four pins." $600 watches and $2000 bikes. As to the original Shinola mark, wikipedia notes: The original trademark was filed to the United States Patent and Trademark Office in 1929 and registered in 1930 by '2 IN 1-SHINOLA-BIXBY CORPORATION' (NJ, USA).
**David Lubetzky of the "kind" bar. Energy bar business was $1.2 billion last year. The brand was introduced in 2004 by Daniel Lubetzky.
**Pulse. 52% of Americans are invested in stocks.
**Vladimir Duthiers . Starts with the Lisa Marie of Elvis Presley. Scott Meyer of ComLux America. Richard Byfield.
There are now 2000 billionaires. Prince Al-Waleed bin Talal.
Tracy Smith on Jeremy Piven. "Mr. Selfridge."
Mo Rocca on "Pirate Joe" of Vancouver, Canada. There is no Trader's Joe in Canada. Hallatt buys Trader Joe's stuff in the US and re-sells in Canada. Trader Joe's sued Michael Hallatt. As to trademark issues, a judge ruled that Hallatt could not be convicted under the United States' trademark law because the alleged infringements did not occur within the country.
Susan Spencer with Tony Bass of Polar, activity trackers.
"On demand" . Veluxe. Book fitness and beauty services. Reference to Uber. "Disrupting Digital Business" by Ray Wong. "Task Rabbit" Washio. lyft. caviar.
Suzie Orman. Three things not to do. 1. Don't co-sign a loan. 2. Never take a loan from a 401(k) 3. Don't miss a payment of a student loan. Generally, don't do anything you don't understand.
Bob Schieffer is going to retire this summer; will name his replacement on April 12.
Next week on Sunday Morning: Russell Crowe.
Mt. Rushmore National Memorial. Appears on the obverse side of South Dakota quarter.