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BUSINESS
May 27, 2008 | Kari Lundgren, Bloomberg News
Bill Gates' $37-billion foundation is buying shares of Vitec Group, the British broadcast-equipment maker helping NBC cover the Beijing Olympics, as the century-old company transforms itself from a tripod vendor to a one-stop shop for TV studios. Four of Vitec's six biggest shareholders reported buying in February and March filings. The Microsoft Corp. founder and wife Melinda's foundation added 122,200 shares for a 2.1% stake, according to a regulatory filing.
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BUSINESS
March 6, 2008 | From Reuters
Warren Buffett, the famed U.S. investor who heads Berkshire Hathaway Inc., replaced his friend and Microsoft Corp. founder Bill Gates as the richest man in the world, Forbes magazine said Wednesday. The magazine estimated Buffett's worth at $62 billion in its annual ranking of the world's wealthiest people. Mexican telecommunications tycoon Carlos Slim came in second with an estimated worth of $60 billion, pushing Gates to third place after 13 years of holding the No. 1 spot. The magazine estimated Gates' worth at $58 billion.
OPINION
February 5, 2008
Re "A gentler capitalism," Opinion, Jan. 31 "Gentler capitalism" is the best oxymoron I've heard since "compassionate conservatism." It's unclear to me how David Callahan thinks he'll prove his theory that "corporate leaders are looking beyond the bottom line" by speculating that fear of "losing market share" may have prompted Wal-Mart's pledge to clean up its act, or quoting Bill Gates as touting "work that eases the world's inequities" as...
BUSINESS
January 13, 2008
Bill Gates would do the world and everyone in it a big, big favor if he would drop the technological development and focus exclusively on philanthropy. ("Gates says farewell to CES," Jan. 7) The coming technologies he promises, many of which will "react as people do, with 'natural user interfaces' that respond to speech and touch," all mean that consumers will continually have to buy new hardware, new programs and related products. I, for one, would like a decade free of the pressure to annually upgrade to a new and more complicated phone and a faster computer.
NATIONAL
November 27, 2007 | Charles Piller, Times Staff Writer
The Bill & Melinda Gates Foundation announced Monday that it would give $100 million to Rotary International's efforts to eradicate polio worldwide. It is the foundation's largest such grant. Rotary said it would match the grant. "We have very few opportunities to improve the world's public health in a permanent way, and this is one," said Dr. Margaret Chan, director general of the World Health Organization, which leads the eradication campaign in coordination with UNICEF, the U.S.
BUSINESS
November 17, 2007 | From Times Wire Services
Cascade Investment, a firm owned by Microsoft Corp. Chairman Bill Gates, is selling its 21% stake in Pacific Ethanol Inc. Cascade will convert its preferred stock to 10.5 million common shares and offer them to the public, according to a Pacific Ethanol filing with the Securities and Exchange Commission. At Friday's closing price, Gates lost $24 million on the investment. He paid $84 million for his stake in 2005.
BUSINESS
June 8, 2007 | From Reuters
Bill Gates attended to a bit of unfinished business Thursday. Gates, who dropped out of Harvard in his junior year before co-founding Microsoft Corp. and going on to become the world's richest person, stopped off at his former stamping grounds to collect an honorary law degree. "We recognize the most illustrious member of the Harvard College class of 1977 never to have graduated from Harvard," Provost Steven Hyman said.
OPINION
May 8, 2007
Re "Buffett's stock conflicts with Gates charity aims," May 4 I find The Times' vilification of Warren Buffett and Bill Gates incomprehensible. They are the greatest heroes of our capitalistic system. They have produced great wealth and true value utilizing our capitalistic system and now are giving the personal wealth they gained for truly humanitarian efforts. Most of the past giants of American industry have used their wealth to gain political power and build monuments to themselves.
OPINION
March 24, 2007
Re "A wealth of cheapskates," Current, March 18 Gregg Easterbrook's piece bashing billionaires for their stingy ways is good up to a point. He points out that most of the world's top billionaires give less than 1% of their net worth to charities every year, but he reserves special scorn for Bill Gates, who has given about one-third of his money -- $26.2 billion -- to the Bill & Melinda Gates Foundation, calling it "crumbs from the table." He compares Gates to Andrew Carnegie, who gave away 78% of his fortune in his lifetime, and to Warren Buffett, who has given most of his fortune to the Gates Foundation.
BUSINESS
February 25, 2007
I wonder what the workplace ethos will be in the luxury Four Seasons Hotel Inc. being taken private by a group led by Bill Gates and Saudi Prince Alwaleed bin Talal ("Gates, prince in deal for Four Seasons," Feb. 13). Owned by billionaires, frequented by the well-heeled, the Four Seasons could be a model of corporate social responsibility in its daily practices. Think of it: living wages for all hotel employees, on-site child care, paid health insurance coverage, matching savings plans, stock options and so on. Gates and Prince Alwaleed could make a real social contribution by investing corporate profit back into the daily lives of their new employees.
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