Paul,

Is FRED a static or dynamic name? If it is static then you don't have
to calculate it every time, you can just calculate it in a separate
cell, say Z1. Then your formula can become:

=IF(OR(A1="",NOT(Z1))," ",Z1)

If it is a dynamic name, e.g. calculates differently depending on the
cell row then you can use an extra column to calculate the result for
each row and use a similar formula.

Does this help?
Kostis Vezerides