Moe Howard, Entrepreneur

I recently dug up a fascinating bit of entrepreneurial news about the legendary Moe Howard. I'm sure the Three Stooges aren't thought of for their business savvy, usually, but Mister Howard, at least, knew how to work a trend.

Toward the end of the Great Depression, when many of the Hollywood elite were spending their money on ridiculous things, Moe Howard threw a lavish party. The theme for the event was, shockingly, the "Life of Hobos." Everyone came in patched clothing. Many had make-up artists create missing teeth or chin stubble. Norma Shearer reportedly wore a very realistic full beard. As a parting gift for the attendees, Howard had engraved Sterno-style tin cans made. They were fully functioning, and people found them to be a hoot.

In fact, people began contacting Howard for their own can. As it kept happening, he realized that a quick buck could be made. He contacted the company who'd fashioned the first set for him and set up a contract. They quickly couldn't keep up with the demand.

Like any flash-in-the-pan trend, however, their popularity faded. Mr. Howard was still in contract and buying out the remaining run seemed daunting. But then, an inspired idea occurred to him. He took out half-page ads in Variety and the New York Post, advertising that the manufacturing run was about to come to a close, and there would be an auction for the final production unit.

Popularity spiked again, and Howard sold every one of the tin cans, but on the last one, he made an extravagant amount of money, with an estimated high bid over $600, 000! At the time, it was the single highest bid ever made for a party favor.

This was quite a news story in the day. That's right. Everyone was talking about the last of the Moe heat cans.