The University of Chicago's Kellogg Graduate School of Business
GSB's Naming Rights Sold to Alumnus Allen Kellogg
Andrew Van Fossen
Issue date: 4/1/05 Section: GSB Life
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Perhaps the most significant event in the GSB's history was consummated while we the students were away for spring break: the naming rights to the school were sold to Allen Kellogg (MBA '65) for $500 million. After a naming ceremony on April 31, the GSB will officially be known as The University of Chicago's Kellogg School of Business or the KSB.
Dean Snyder, architect of the agreement, expressed the magnitude of this deal, "This is a singular event in the GSB's history. This will catapult the GSB, excuse me, the University of Chicago's Kellogg School of Business, to the top of the business school rankings."
THE DONOR
The man behind this donation is Allen Kellogg, a 1965 GSB graduate. Kellogg was sole heir to Abner Kellogg, a war profiteer who amassed an enormous fortune selling sauerkraut relabeled as "Liberty Cabbage" to troops fighting in both the Pacific and European World War II theaters. In the 50 years since leaving the GSB, Kellogg, a self-described "entrepreneur at heart" started over a dozen companies in industries ranging from transportation to technology.
After earning his MBA and the death to the senior Kellogg in 1968 Allen Kellogg embarked on his business career. Kellogg's first venture was a construction company specializing in drive-in theaters showing government propaganda. The company reached its peak in 1973 through procuring federal contracts awarded by the Nixon administration. The company quickly became insolvent in the wake of Nixon's resignation.
In 1978, Kellogg joined General Motors with a joint venture to commercialize US Army vehicles for the American driving public. Kellogg secured the rights to the Whistler, the precursor to today's Hummer. However, in 1979, in light of record-high gasoline prices, GM pulled out of the deal, thinking the public wouldn't buy an all-terrain vehicle with such poor gas mileage (8 highway/5 city).
The subsequent decades had mixed success for Kellogg as he pursued wide-ranging ventures. In the 1980s Kellogg had a vision to bring savings and loan institutions to rural America; at one point controlling 58% of S&Ls in Arkansas, Alabama, and Mississippi. In the late 1990s Kellogg started a company which purchased and sold internet domains of common typos of the most popular domain names. Kellogg recalled, "That was a fun business. I remember Yahoo! buying www.microsotf.com and www.netscaep.com from us."
Dean Snyder, architect of the agreement, expressed the magnitude of this deal, "This is a singular event in the GSB's history. This will catapult the GSB, excuse me, the University of Chicago's Kellogg School of Business, to the top of the business school rankings."
THE DONOR
The man behind this donation is Allen Kellogg, a 1965 GSB graduate. Kellogg was sole heir to Abner Kellogg, a war profiteer who amassed an enormous fortune selling sauerkraut relabeled as "Liberty Cabbage" to troops fighting in both the Pacific and European World War II theaters. In the 50 years since leaving the GSB, Kellogg, a self-described "entrepreneur at heart" started over a dozen companies in industries ranging from transportation to technology.
After earning his MBA and the death to the senior Kellogg in 1968 Allen Kellogg embarked on his business career. Kellogg's first venture was a construction company specializing in drive-in theaters showing government propaganda. The company reached its peak in 1973 through procuring federal contracts awarded by the Nixon administration. The company quickly became insolvent in the wake of Nixon's resignation.
In 1978, Kellogg joined General Motors with a joint venture to commercialize US Army vehicles for the American driving public. Kellogg secured the rights to the Whistler, the precursor to today's Hummer. However, in 1979, in light of record-high gasoline prices, GM pulled out of the deal, thinking the public wouldn't buy an all-terrain vehicle with such poor gas mileage (8 highway/5 city).
The subsequent decades had mixed success for Kellogg as he pursued wide-ranging ventures. In the 1980s Kellogg had a vision to bring savings and loan institutions to rural America; at one point controlling 58% of S&Ls in Arkansas, Alabama, and Mississippi. In the late 1990s Kellogg started a company which purchased and sold internet domains of common typos of the most popular domain names. Kellogg recalled, "That was a fun business. I remember Yahoo! buying www.microsotf.com and www.netscaep.com from us."