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October 19, 2009
Crazy Company Naming and Renaming Besets Investment World
Some of the more amusing - or perhaps frightening - naming and branding industry postscripts are the names given to major financial entities in America.
One would think that in this environment the real money would be in play it safe, anonymous naming and renaming like that embraced by AIG.
Nothing doing.
A great piece about renaming private equity by Lauren Silva Laughlin caught my eye last week. The term is so maligned, misused and nowadays inaccurate, that Carlyle's David Rubenstein thinks it should be called "change capital" or "value-added equity." Laughlin, tongue firmly in cheek, suggests instead that it be called "underwater equity" or "fee-squared capital" or, hilariously, "Pupa equity" standing for "Private until public again."
I avoided writing about that because I thought it sounded a bit, well, silly, but now I just can't help myself. You see, a new Mutual Fund tracking site is going to be called "kaChing." It started as a game on facebook, has graduated to a fairly sophisticated investment monitoring device, and soon will be a place where real money is traded. You can even get yourself ranked as a "genius."
kaChing. Get it?
How about a fund for the more literary minded? Okay, then why not throw your cash in with the Roark Capital Group. These guys have $1.55 billion and are ready to put $750 million into the private equity market.
The name of the company comes from the greedy, ruthless, self-obsessed architect in The Fountainhead, an Ayn Rand novel. You know, the one where people who are not "creators" are "parasites."
Technorati Tags: Renaming, Naming Company, kaChing Company Name, Roark Capital Group, Financial Company Naming
Posted by William Lozito at October 19, 2009 8:29 AM
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