Background and history

San Fernando Valley Business Journal, July 7, 2008

The Ernst & Young Entrepreneur Of The Year[R] (EOY) award honors entrepreneurs whose ingenuity, hard work and perseverance have created and sustained successful, growing business ventures. The year-long program culminates each November with the national awards ceremony hosted by Jay Leno in Palm Springs, California. The Ernst & Young Entrepreneur Of The Year program, founded and produced by Ernst & Young, originated in 1986 in Milwaukee, Wisconsin, and is now celebrating its 22nd year of recognizing successful entrepreneurs.

As a result of its success, the Ernst & Young Entrepreneur Of The Year Program has expanded to more than 50 countries and over 135 cities around the world. The program in the United States has grown from the one program in 1986 to 26 programs this year. The Ernst & Young Entrepreneur Of The Year award has become the mark of world-class individuals leading world-class companies. Each year approximately 1,400 people attend the national awards in Palm Springs.

A Who's Who of America's Business

The program is well known for identifying growing entrepreneurial businesses before they become household names. Past national winners in the United States include:

2007--Isaac Larian, MGA Entertainment

2006--Richard E. Caruso, Ph.D., Integra LifeSciences Corporation

2005--Arthur M. Blank, Atlanta Falcons, The Home Depot, Georgia Force

2004--H. Wayne Huizenga, Huizenga Holdings, Inc.

2003--John Mackey, Whole Foods Market. Inc.

2002--Jeno F. Paulucci, Luigino's Inc.

2001--Dr. Phillip Frost, WAX Corporation

2000--Scott Kriens, Juniper Networks

1999--Richard M. Schulze, Best Buy

1998--Edward Lacobucci, Citrix Systems, Inc.

1997--Jack and Andy Taylor, Enterprise-Rent-A-Car

1996--Henry Yuen, Gemstar International

1995--Allen Breed, Breed Technologies, Inc.

1994--Robert Basham, Tim Gannon, and Chris Sullivan, Outback Steak House

1993--Robert E.M. Nourse, The Bombay Company

1992--Jerry Ehrlich, Wabash National

1991--Cecil Ursprung, Reflexite Corporation

1990--Robert Levine and Craig Benson, Cabletron Systems, Inc.

1989--Michael Dell, Dell Computer

How It Works

To be eligible to receive an award, the nominee must be an owner/manager of a private or public company who is primarily responsible for the recent performance of the company and an active member of top management. The nominee's company must be at least two years old.

Independent judging panels from each award area select approximately five to eight Ernst & Young Entrepreneur Of The Year award winners in several industry categories, which could include the following:

Communications

Distribution, Manufacturing and Security

Energy & Related Services

Financial Services

Health Sciences

Media & Entertainment

Real Estate, Hospitality and Construction Services

Retail & Consumer Products

Technology

General Awards

General awards at the regional level may also include:

* Master Entrepreneur Of The Year: An individual who has maintained excellence over a sustained period of time. The business must have been founded more than five years ago. A Master Entrepreneur may also be a "serial" entrepreneur. Wayne Huizenga is an excellent example of a serial entrepreneur.

* Emerging Entrepreneur Of The Year: An individual who exemplifies the start-up process at its best. The business must have been founded five years ago or less and must be operational for at least two years. An Emerging Entrepreneur growth rate is approximately 20% per year.

* Lifetime Achievement Award (typically not a judged award): An individual whose extraordinary entrepreneurial achievements, creativity, leadership and vision result in a dynamic business venture (or ventures).

Following the judging process, finalists and award winners are announced and honored at regional award galas in June. These entrepreneurs are truly the best of the best as evidenced below.

Greater Los Angeles 2007 Average Award Profile

Average Number of Employees              513
Average Net Sales                        $111 million
Average Total Net Assets                 $310 million
Average Net Equity                       $86 million
Annual Percentage of Growth              45%

Ernst & Young Entrepreneur Of The Year National Awards

All Ernst & Young Entrepreneur Of The Year regional award winners are eligible for the national awards. The national award winners are selected in general and industry categories by an independent national judging panel. From the national category winners, the overall National Entrepreneur Of The Year is chosen. National finalists and winners in all categories will be announced at the Ernst & Young Entrepreneur Of The Year Awards gala in Palm Springs on November 15, 2008. In addition, all of the Ernst & Young Entrepreneur Of The Year national award winners and national finalists will be featured in the annual issue of Ernst & Young's Entrepreneur Of The Year magazine, as well as other local and national media vehicles.

World Entrepreneur Of The Year Award

The current EOY country winners from around the world will convene in Monte Carlo on May 31, 2008 for the eighth annual World Entrepreneur Of The Year Awards Gala. All of the country winners are inducted into the World Entrepreneur Of The Year World Academy. Following the induction ceremony, this year's World Entrepreneur Of The Year award winner will be announced. Guy Laliberte, founder of Cirque du Soleil, and the national winner from Canada, was named the 2007 World Entrepreneur Of The Year award winner. EOY programs take place in Australia, Austria, Belgium, Brazil, Canada, Chile, China-Mainland, China-Hong Kong/Macau, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Israel, India, Indonesia, Ireland, Italy, Japan, Kazakhstan, Korea, Luxembourg, Malaysia, Mexico, Middle East, Mozambique, Netherlands, New Zealand, Norway, the Philippines, Poland, Portugal, Russia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan. Turkey, Ukraine, the United Kingdom, and the United States.