If there is nothing in the command, this entry is harmless - there is nothing happening at startup.
If you want to get rid of it you need to edit the registry. The location is HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Run. In that key, look at the Data column. Any entries that are blank in this column will correspond to the blank entries in msconfig.
1. A program install/uninstall has not completed properly and therefore not updated the registry "Run" keys. Looking at these registry keys may in some cases reveal an entry with a Name but no Data, others may have neither:
* HKLM\Software\Microsoft\Windows\CurrentVersion\Run
* HKLM\Software\Microsoft\Windows\CurrentVersion\RunOnce
* HKLM\Software\Microsoft\Windows\CurrentVersion\RunServices
* HKLM\Software\Microsoft\Windows\CurrentVersion\RunServicesOnce
* HKCU\Software\Microsoft\Windows\CurrentVersion\Run
* HKCU\Software\Microsoft\Windows\CurrentVersion\RunOnce
Check these keys and see if there's an entry under Name and it may give a clue. As no program isn't being loaded in the Data column then the registry entry can safely be deleted. Author's second note: Back up the registry before making any changes. Also, in XP®, set a System Restore point.
2. A virus or other malicious piece of software has compromised the system. Many virusses modify various registry keys, including the "Run" keys.
If you go to www.mlin.net there is a utility called startup control panel, see if that gives you anymore info regarding what is starting up , also this utility has different tabs for the different run keys which may make it easier to navigate to each of these keys without the use of regedit afaik :)
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If you want to get rid of it you need to edit the registry. The location is HKLM\SOFTWARE\Microsoft\Wi
For a more detailed explanation, see here:
http://ask-leo.com/why_is_there_a_blank_entry_in_my_msconfig_startup_entries.html