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September 24, 2007

Business Week on Hopeless Records: 'The Paul Newman of Punk Rock'

Business Week | Read Full Story >

Today, Hopeless is profitable, employs nine people, and will gross $5 million this year. Boosting revenues and earnings every year in an industry barraged by digital piracy and slumping sales is an accomplishment. But Posen has another hit on his hands: He figured out a way to spin a sizable chunk of the money his company generates into philanthropy. “Although we didn’t really plan it,” Posen says. “we’re part of this whole movement of social entrepreneurship.”


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