What power does this actually give MIT? I don't understand.
The power to cash dividend checks. No decision making authority.
Bose founder makes big stock donation to MIT
11–20 of 99 posts
Re: Bose founder makes big stock donation to MIT
#12He should have donated 30% to MIT and 70% to a good marketing school.
(Also, it's pretty ironic that I know that MIT is a good tech school but have no idea what a good marketing school is.)
Re: Bose founder makes big stock donation to MIT
#13It says Bose donated a majority of the shares. How much is Bose (private company) worth? And how much in dividends can MIT expect from Bose on an annual basis?
They say that have sales of $2 billion http://articles.boston.com/2010-12-26/business/29285848_1_no...
Assuming a decent P/E ratio, total stock value is probably in the 10s of $billions minimum (I know, as a private company things are different, I'm just thinking off the top of my head).
Re: Bose founder makes big stock donation to MIT
#14A bit of a sensational title. With all the discussion on Hacker News lately about ownership of the company, this is interesting. Gave a majority of non-voting stock to MIT to get company dividends. That is all.
Interesting way of donating your fortune to a school.
Re: Bose founder makes big stock donation to MIT
#15Can anyone explain the "'51" after his name? Is that class of 51?
Re: Bose founder makes big stock donation to MIT
#16Can anyone explain the "'51" after his name? Is that class of 51?
He completed his Electrical Engineering undergraduate degree in 1951.
Re: Bose founder makes big stock donation to MIT
#17Can anyone explain the "'51" after his name? Is that class of 51?
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Re: Bose founder makes big stock donation to MIT
#18Can anyone explain the "'51" after his name? Is that class of 51?
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Re: Bose founder makes big stock donation to MIT
#19Folks like to rag on Bose products (and from a pure sound quality standpoint they are overpriced IMO) but Amar Bose was the best professor I had and his enthusiasm for engineering and acoustics showed in all of his lectures. He's been good to MIT over the years (MIT students, faculty and affiliates get substantial discount) and this is another example of him giving back. I hope this encourages MIT to resurrect some o…
Amar Bose was a good professor, and in making this donation to his alma mater, he continues to carry on the tradition of MIT graduates doing good things long after they've made a name for themselves.
His work today in no way lessens the impact of an audiophile's criticism of his company's products. Not only are they overpriced in consideration of value delivered, they are in many respects poor implements for faithfully reproducing sound.
But those criticisms are criticisms of product and market, not criticisms of people and principles.
Re: Bose founder makes big stock donation to MIT
#20It says Bose donated a majority of the shares. How much is Bose (private company) worth? And how much in dividends can MIT expect from Bose on an annual basis?
They say that have sales of $2 billion http://articles.boston.com/2010-12-26/business/29285848_1_no... Assuming a decent P/E ratio, total stock value is probably in the 10s of $billions minimum (I know, as a private company things are different, I'm just thinking off the top of my head).
But the E in P/E is earnings not sales, so this estimate is way too high. Better guess: start with 1x sales and adjust up or down based on how fast it's growing and how profitable you think they are. As far as public/private, if you haircut public company multiples by 10-15% you wouldn't be too far off.