Sunday, June 29, 2008
Henry Samueli -- flawed but . . .?
Here is the Register's editorial on the guilty plea last Monday of Henry Samueli, co-founder of Broadcom (which makes chips for iPhones and other mostly portable devices). He ended up pleading guity of lying to investigators about back-dating stock options. Plea-bargained to a $12 million fine and five years probation. He and his co-founder Henry Nicholas -- under indictment for more serious stuff mostly related to backdating but also drug-related charges (including giving drugs to other without their knowledge, which I view as wrong whether it's crime or not). Feet of clay and all that. Thing is, Henry Samueli, worth about $2 billion now, has been a generous philanthropist -- the small theater in the new concert hall is named for him and his wife, he's kept Opera Pacific open, my son defrayed some of his college tuition with a Samueli grant, he gave so much the engineering schools at both UC Irvine and UCLA are named after him, he owns the Mighty Ducks. Sad situation bordering on tragic.