Firms hope for luck from Obama’s name

MANILA, Philippines - The popularity of US President-elect Barack Hussein Obama is manifesting itself locally, with several firms adopting the Illinois senator’s name in the hopes that it will boost business. The Securities and Exchange Commission (SEC) last week approved the incorporation of Obama Realty & Development Corp., and is set to act on applications by Obamaland Corp. and Obama Hills Realty, Inc. In a telephone interview, Obama Realty Finance Officer Teresita R. Concepcion said the company name was chosen in the hope that Mr. Obama’s luck would rub off. "But of course we would have to work hard too and not just rely on luck. After all, Mr. Obama also worked hard to achieve his position," she said. Mr. Obama, the son of a Kenyan and an American mother and who grew up partly in Indonesia, overcame the odds in the November elections to become the United States’ first black president. He will take office next month. Ms. Concepcion said Obama Realty had yet to start operations, but plans to put up shopping malls and condominiums in Pasay and Manila. She said the company was not going to the extent of adopting Mr. Obama’s promise of change and would operate just like a normal real estate firm. "We are only getting the name, just the name," she said. Benito A. Cataran, director of the SEC’s company registration and monitoring department, said names that are popular during a certain period are normally borrowed by businesses. "For example, when we were about to enter the year 2000, a number of companies applied for names that either had millennium or Y2K in it," he said. Mr. Cataran, however, said he does not recall local firms naming themselves after outgoing US President George W. Bush, who twice won the presidency. He said there were also Arroyo-named corporations, but noted that this may be due more to "Arroyo" being a common local name instead of firms wanting to be associated with President Gloria Macapagal Arroyo. Businesses are not the only one trying to ride on the Obama brand. Politicians all over have also tried to capitalize on the fascination with Mr. Obama. Locally, Makati Mayor Jejomar C. Binay was the first to declare his similarity to Mr. Obama, saying this when he announced his bid for presidency last month. Mr. Obama’s cosmopolitan background has led to a number of countries also claiming his victory as their own. His Kenyan relatives naturally celebrated his victory but so did his Indonesian classmates and even some in the Middle East who said that his first and middle names have Arabic origins.