MySQL already supports loading CSVs directly, why convert them first? http://dev.mysql.com/doc/refman/5.1/en/load-data.html
That said, I can't see how the OP actually helps me with that.
LOAD DATA INFILE 'people.txt'
INTO TABLE Person (@first, @last, date_of_birth)
SET full_name = CONCAT(LEFT(@first, 1), '. ', @last);
You can even do funky stuff like lookups: LOAD DATA INFILE 'projects.txt'
INTO TABLE Projects(@first, @last, project)
SET person_id =
(SELECT id FROM people
WHERE name = CONCAT(@first, ' ', @last) LIMIT 1);