Half of 2009 Fortune 500 Founded During Recession

June 9, 2009 at 10:54 am 2 comments

kauffman It pays to make the most of a down economy — this has been our mantra during the last year’s economic woes.  While investors have held their purse strings tighter, we’ve continued to push ourselves and get to work helping kids.  

OneSeventeen Media is in good company, according to a new study the Kauffman Foundation released today:

“The study, “The Economic Future Just Happened,” found that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc. list of America’s fastest-growing companies. ” 

Pushing onward is the winning strategy, for our investors and the kids we serve.

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Entry filed under: Business, Kids, OneSeventeen Media, Opportunities, Research. Tags: , , , , , .

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2 Comments Add your own

  • 1. bcarls717  |  June 10, 2009 at 5:58 pm

    Amy, ironically, I’ve been sharing similar kinds of information with the students in my online marketing and PR classes at the University of Phoenix since last fall when more of became aware of the weakening economy.

    Did you know that well-known companies such as Hyatt, Burger King, IHOP, Jim Henson Company, FedEx, Microsoft, LexusNexus, CNN, MTV Networks, Trader Joe’s, Wikipedia Foundation, Sports Illustrated, GE and HP all started during downturns in the economy? That’s good company!

    I especially like the closing statement in the report:

    But, despite the pain of the current recession, there is reason for hope—good things do grow out of recessions. More importantly, new firm formation represents two unqualifiedly positive things. Hundreds of thousands of individuals do not wait for others to ease their economic pain—they create jobs for themselves and others. Young firms, moreover, frequently add jobs and generate innovations well out of the mainstream. When a large, established company announces deep layoffs, it necessarily makes front-page news. When two or three dozen young firms hire four, six, or eight people at a time for several years, it mostly goes unnoticed. Only when they reach sufficient collective size do they begin to appear in the public consciousness, even though they have been regenerating the economy for several years. Every generation of startups is,
    often invisibly, both a renewal and restructuring of the economy.

  • 2. Amy Looper  |  June 13, 2009 at 9:26 am

    yeah, starting new companies during a recession is not for the light hearted! So as painful as it can at some points in the process seem, I agree it’s necessary to stimulate big change that solves big problems. Sign me up!


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