Amar Bose gives most company stock to M.I.T.

[hjames]

"The Massachusetts Institute of Technology announced Friday that [Amar] Bose, the 81-year-old founder of the sound system company that bears his name, has donated the majority of Bose Corp.'s stock to the school."

http://money.cnn.com/2011/04/29/technology/bose_mit_donation/index.htm?eref=mrss_igoogle_business

The donation is in the form of non-voting shares, MIT said. The monetary value of the shares were not disclosed, and MIT cannot sell its Bose shares. The school will not participate in the management or governance of the company, but it will receive annual cash dividends on its shares when Bose pays them out.


A spokeswoman for Bose said the company will remain privately held and "operate as it always has." She declined to comment further on the gift.

"Dr. Bose has always been more concerned about the next two decades than about the next two quarters," MIT president Susan Hockfield said in a prepared statement. "[He] has asked us not to shine too bright a spotlight on him today. So to honor that wish, let us simply celebrate Dr. Bose's profound belief in the transformative power of an MIT education."

[Mr. Widget]

While we might all agree that his speakers don't measure up to what we want from a sound system, Dr. Bose's leadership of his company has been an inspiration. Both Amar Bose and Sidney Harman were brilliant business men and visionaries in the same business. They took very different tacks... one public and one private. Dr. Bose's long view has created a single company with greater sales than all of the acquired publicly traded Harman Brands combined with their quarter to quarter please the shareholder mentality.


Widget

[1audiohack]

That is so absolutely increadibly cool. Makes me wish I knew of something they made that I liked as that's the type of company I like to support.

[hjames]

That is so absolutely incredibly cool. Makes me wish I knew of something they made that I liked as that's the type of company I like to support.

Agreed - I'm not a fan of their gear, but I have the give the man credit -
what a great way to support the school - what an amazing way to give back to your roots!

I'd prefer to keep this positive by talking about his philanthropy,
instead of descending to the usual "Bose blows" kind of thread we get around here-
this thread's really not about the gear.

[Eaulive]

While we might all agree that his speakers don't measure up to what we want from a sound system,

I had to repair some Bose equipment in the past, and I got to tell you that the topology in use in some amplifiers and audio gear is mind boggling :banghead:

Why somebody would go through so much trouble to arrive to such a mediocre result is beyond me :dont-know:

[tomt]

Why somebody would go through so much trouble to arrive to such a mediocre result is beyond me





my guess would be, 'for the love of money'