The blogosphere is abuzz (traditional media too) with restrospectives on an American Icon, Paul Newman. A celebrated film legend, many younger people may know his face better from the salad dressing aisle at City Market than as the gold standard of cool from ‘Cool Hand Luke.’ But it’s the success of the salad dressing that I wanted to touch on today. Newman’s Own is the highly successful, socially-oriented brand that bears Paul’s face and unique take on the purpose of business. From the company website,

“Paul occasionally referred to Newman’s Own as the “joke that got out of control” and would express astonishment at its success. Despite this humorous approach, Paul was committed to the company’s business and to providing top-notch quality – he brought all-natural food products to a wide audience long before it was fashionable. And he was one of the greatest recyclers, giving back to charity all the money he earned from the sale of Newman’s Own products. ”

Yes, you read that right, a company with hundreds of millions in revenue that donates 100% of after-tax profits to charity via the Newman’s Own Foundation. It’s a truly unique model (one I’ve not found to be duplicated elsewhere) that continues to thrive. The success of this business, as they continue to expand their product line and contribute ever more money ($250 million at last count) to a variety of charities, is truly unprecedented. Real, tangible good for the world is the company’s bottom line. Or, as Paul puts it best:

“Shameless Exploitation in Pursuit of the Common Good”

What I think is most important about this company is that it provides an example for others that says, ‘Yes, the bottom line can be a force for good when, the better a business does, the better the world is.’ I want to know how they did it and am hunting for a copy of the 2003 memoir of the same name, ‘Shameless Exploitation in Pursuit of the Common Good: The Madcap Business Adventure by the Truly Oddest Couple’ by Paul Newman and A.E. Hotchner.

A final note: As our economy staggers under the weight of poor choices in the financial sector, I wonder if someone from Lehman Brothers or WaMu ever asked themselves, ‘If I make a few thousand loans to people who will only be able to meet their mortgage payments if they hit the lottery, does that make the world a better place?’ I’ll bet they wish they had.

Thank you Mr. Newman for your films, your philosophy and and your example. The world needs more people of your character and conviction.

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