What’s in a name? Not much
.bodytext {float: left; } .floatimg-left-hort { float:left; margin-top:10px; margin-right: 10px; width:300px; clear:left;} .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 10px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 10px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 10px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} In the recent dust-up over naming rights, triggered by the University of Iowa’s rejection of a $15 million offer from Wellmark Blue Cross Blue Shield, one question has been overlooked.
How much do companies really benefit from bolting their names onto buildings?
It was heartening to see that some people considered the Wellmark bid inappropriate because of the commercial implications.
If Wellmark’s name ends up being displayed at the public health college, those serious objectors might feel disappointed or disgusted every time they see it. But for the vast majority of the public, the name will quickly lose all impact.
When the debate arose over renaming Sec Taylor Stadium here in Des Moines, it was obvious that most fans had no idea who Taylor was. (He was a long-time sports editor of The Des Moines Register.)
They liked the name, but just because it had become part of the local baseball tradition. Any other name would have been just as good.
Now it’s Principal Park. OK, that will be accepted, too. But how many fans will feel an urge to sign up for a 401(k) account with Principal Financial Group Inc. because of that name? Not many.
Wells Fargo Co. gets lots of eyeballs reading its name on the arena at the Iowa Events Center, but so what? It reads like a label, not an ad.
Dubbing buildings with individual names has even less effect. In Iowa City, a U of I business building is named for Marvin Pomerantz. Up in Ames, Iowa State University boasts a Gerdin Business Building, named for Russell Gerdin, owner of Heartland Express Inc..
But it’s a sure bet that only a tiny fraction of the students using those buildings have any idea who those still active business leaders are. Add another 10 or 20 years, and the percentage will approach zero.
Wealthy donors have made this a much better state, and they deserve to be acknowledged. But they must know that fame is fleeting.