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BUSINESS PLANS

The Business Year That Was
 

As the earth completes yet another revolution around the sun, it's time for reflection. What did you learn about the state of the entrepreneurial union in 2003?
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1. When George W. Bush spoke at JS Logistics to promote American small businesses, what went awry?

  1. Entrepreneur was misspelled on the backdrop.
  2. The business owner who introduced Bush made several antiwar statements.
  3. Boxes with obscured "Made in China" labels were stacked behind the President.

2. After Philadelphia mayor John Street praised "Joe-Joe" Terrell, a local T-shirt merchant, for his "entrepreneurial bent," what did local newspapers reveal?

  1. Terrell had been kicked out of Wharton for cheating.
  2. He had served two prison terms for assaulting cops and has pending drug charges.
  3. His other business--a hoagie shop--was shut down by city health inspectors.

3. All 6,000 Segways were recalled because of:

  1. Unexpected acceleration
  2. Five reported cases of spontaneous combustion
  3. Waning power that caused riders to topple

4. After the war, the U.S. earmarked $20 million to teach Iraqi entrepreneurs:

  1. "Business Fundamentals and Concepts"
  2. "The Basics of Foundation and Drywall Implementation"
  3. "Tips for Partnering With Large Corporations"

5. A pair of entrepreneurs, Kelly Kimball and Scott Mednick, waded into the California recall as candidates to push their product, which is:

  1. Soundboardz, snow- and surfboards with built-in MP3 players
  2. ButtMonkey beer
  3. A service called "Re-Call Girls: Escorts to the Stars and Starry-eyed"

6. Estel Wood "Ed" Kelley, who died at age 86, made his fortune on:

  1. Tang, Cool Whip, and Grey Poupon
  2. Depend undergarments
  3. Skoal smokeless tobacco

7. A.A. "Bud" Colebrooke, 78, a Tennessee entrepreneur, repaid his hometown of Medford, Mass., $100,000. What did he feel he owed them for?

  1. Tax liens on property he owned in the 1970s
  2. Forty years of unpaid parking tickets
  3. The $14 a week he received during the Depression from the local welfare agency multiplied by current dollar values

8. According to Personal Branding magazine, which celebrity was not in the top five "Best Personal Brands" for 2003:

  1. Barry Bonds
  2. Eminem
  3. Pope John Paul II
  4. Michael Moore

Answers are listed below:

  1. C. And it's a federal offense to cover up "Made in" labels.
  2. B. If convicted, Terrell faces a mandatory minimum sentence of five to 10 years in prison.
  3. C. The fact that only 6,000 were recalled showed sales were well below the projected 20,000 to 100,000 units.
  4. A. The four-week course will cost $10,000 per student.
  5. B. Kimball and Mednick garnered 1,282 votes combined.
  6. A. His company also increased the size of the Steak n Shake chain to 412 restaurants.
  7. C. Colebrooke was quoted in The Tennessean as saying he rounded up from $60,000-70,000 "to make sure," because Medford's generosity enabled Bud and siblings to get out of a New York City orphanage.
  8. C. George W. Bush was ranked No. 1 in the "best" and "worst" categories.
Last updated: Dec 1, 2003




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