Holmes Report Blog

The Holmes Report blog focuses on news and issues of interest to public relations professionals. Our main site can be found at www.holmesreport.com.

Tuesday, August 08, 2006

Culture Clash: Forbes magazine has always been about the rawest, most red-blooded variety of capitalism, celebrating the views of Milton Friedman and Ayn Rand, glorifying the profit motive and ridiculing anyone with the temerity to suggest that corporations might have any other responsibility.

Bono, meanwhile, has been a frequent advocate for a new, more progressive view of the corporation, suggesting that companies can combine profitability with social responsibility. His recent launch of the “Red” brand of cause-related products and his interest in saving the world—Africa in particular—would appear to be diametrically opposed to all that Forbes stands for.

So it’s interesting that Bono is a member of the group of investors that recently bought into the magazine. Bono’s spokesman says he was attracted to the magazine because it “has a point of view.” It will be interesting to see whether that point of view changes under the influence of its new shareholders.

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