Harry Potter's Magic
Nightly Business Report
Thursday, August 02, 2007
SUSIE GHARIB: Tonight's commentator says there's a lesson to be learned in the success of the Harry Potter book series. He's Myron Kandel, president of the New Hampshire Initiative for Corporate Responsibility and Investor Protection.
MYRON KANDEL, PRESIDENT, NEW HAMPSHIRE INITIATIVE FOR CORPORATE RESPONSIBILITY: Business news is full of bigness these days, giant corporations getting even bigger, hedge funds growing by leaps and bounds to nearly dominate the stock market, wealthy families pondering what to do with their inherited riches and private equity moguls buying pricey works of art and throwing lavish parties.
But there's one sign of bigness I'm particularly enjoying. It's the incredible popularity of the Harry Potter books and the ascent of their author, JK Rowling, from poverty to undreamed of financial success. It wasn't that long ago that Ms. Rowling needed British welfare assistance to survive. Now, she's a billionaire -- some say even wealthier than the queen. I think it's great that in this age of bigness, one individual can still do so well. Sure, the Harry Potter phenomenon has morphed into a brand and a franchise. There are movies, costumes, toys, you name it.
But the foundation beneath it all is one woman's talent, imagination and perseverance. She refused to give up when rejected. Her orphan hero and the magical universe she created around him touched a nerve that resonated around the real world and kept going. There's a lesson here for all of us. Everyone can't be JK Rowling, but when you have a dream, go for it. I'm Myron Kandel.