If I really knew anything about the business world, I’d be in it, making the big bucks, instead of standing on the sidelines taking potshots. But hey, everybody has to do something for a living, right?
So today, I have to ask: How does it possibly make any sense for Harrah’s Entertainment Inc. to change its name to Caesars Entertainment Corp.?
Revenue at Harrah’s fell 18 percent from 2007 to 2009. It reported a loss of $634.4 million during the first nine months of 2010.
And the company thinks it’s a good idea to go through what has to be the considerable expense of changing the corporate name? Think of all the places where that name change will have to be made — signs, stationery, official documents. Think of what that will cost.
OK, probably the equivalent of pennies for a company this big. But still, after seeing your revenue tank, wouldn’t it be a good idea not to spend money you don’t absolutely have to spend?
Sure, Caesars is a venerable old name in the gambling business — and I’m sure someone used the word “synergy” when pitching this name-change. But if it were my company, I’d be saying, “Get outta here. We have bigger things to worry about.”