Every year businesses give away billions of dollars to charitable causes. But with all the government cutbacks, is even that enough? And just what are they paying for? In this hour of To the Best of Our Knowledge, how companies balance doing good with looking good. Also, how one woman is shaking up the non-profit sector, and the life and times of John D. Rockefeller.
Every year, American corporations give away billions of dollars to charity. But are they really doing good - or just engaged in shrewd marketing? Steve Paulson talks with sociologist Jerome Himmelstein, author of Looking Good and Doing Good: Corporate Philanthropy and Corporate Power. Vanessa Kirsch, founder and president of New Profit Inc., is one of a new breed of philanthropists. She tells Judith Strasser about doing "venture philanthropy" to help non-profit groups.SEGMENT 2:
John D. Rockefeller, the founder of Standard Oil, was once the most hated man in America. As a businessman, he was ruthless and arrogant. But he also changed the face of American philanthropy. Biographer Ron Chernow, author of Titan: The Life of John D. Rockefeller, tells Steve Paulson how Rockefeller could be both the Robber Baron and the Do-Gooder.SEGMENT 3:
Believe it or not, rich people often face a tough dilemma: what to do with all those millions? What charities should they fund? Anne Slepian, co-director of the Impact Project, tells Jim Fleming what she did with her inheritance.Cassette copies are available at 1-800-747-7444. Ask for program number 98-05-10-C.
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