Bose donates most of his company to MIT
BlueFox
Posts: 15,251
This is kind of interesting. I will give him credit for keeping his company private. Companies that go public and then spend all their time trying to please investors every quarter are despicable. When they accept that the customer, not some stock holder, is number one then I will change my opinion.
"NEW YORK (CNNMoney) -- Successful entrepreneurs often donate generously to their favorite causes, but here's a new twist: Amar Bose is essentially donating his company to his alma mater.
The Massachusetts Institute of Technology announced Friday that 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.
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."
Bose received his bachelor's degree, master's degree, and Ph.D in electrical engineering from MIT. He also taught undergraduate electrical engineering at MIT from 1956 to 2001, maintaining a faculty role at MIT long after his 1964 foundation of founded Bose Corp.
Bose currently employs about 9,000 staffers and is a major economic force in its hometown of Framingham, Mass. The company is known for its high-end speaker systems and headphones. "
http://money.cnn.com/2011/04/29/technology/bose_mit_donation/index.htm?source=cnn_bin&hpt=Sbin
"NEW YORK (CNNMoney) -- Successful entrepreneurs often donate generously to their favorite causes, but here's a new twist: Amar Bose is essentially donating his company to his alma mater.
The Massachusetts Institute of Technology announced Friday that 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.
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."
Bose received his bachelor's degree, master's degree, and Ph.D in electrical engineering from MIT. He also taught undergraduate electrical engineering at MIT from 1956 to 2001, maintaining a faculty role at MIT long after his 1964 foundation of founded Bose Corp.
Bose currently employs about 9,000 staffers and is a major economic force in its hometown of Framingham, Mass. The company is known for its high-end speaker systems and headphones. "
http://money.cnn.com/2011/04/29/technology/bose_mit_donation/index.htm?source=cnn_bin&hpt=Sbin
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Post edited by BlueFox on
Comments
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The company is known for its high-end speaker systems and headphones.
That's a laugh.Political Correctness'.........defined
"A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."
President of Club Polk -
I'm sure they meant high-price speaker systems and headphones
common typo
Jason2-Channel - So far...
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Must have felt guilty taking all that hard earned money from the ignorant.
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I think I may have just peed in my pants.~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~
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I didn't realize that Bose was HQ here. As for the rest, I'm sure he & MIT are laughing all the way to the bank.Marantz AV-7705 PrePro, Classé 5 channel 200wpc Amp, Oppo 103 BluRay, Rotel RCD-1072 CDP, Sony XBR-49X800E TV, Polk S60 Main Speakers, Polk ES30 Center Channel, Polk S15 Surround Speakers SVS SB12-NSD x2
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NY Times believes it may be a tax shelter."He who fights with monsters should look to it that he himself does not become a monster. And when you gaze long into an abyss the abyss also gazes into you." Friedrich Nietzsche
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It is. That way he can avoid the inheritance tax after he buys it...
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Are those 9000 employees in the US?If so impressive for a and I use the term loosely, speaker company.Do they not outsource to China?
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grimmace19 wrote: »Must have felt guilty taking all that hard earned money from the ignorant.
Casinos and tobacco companies don't feel guilty...and their revenues and profits dwarf Bose's.Proud and loyal citizen of the Digital Domain and Solid State Country! -
DarqueKnight wrote: »Casinos and tobacco companies don't feel guilty...and their revenues and profits dwarf Bose's.
Now, if you are only talking about the Oil Companies, the Tobacco companies will be like an ant. None of the Oil Companies feel guilty about shagging anyone.Trying out Different Audio Cables is a Religious Affair. You don't discuss it with anyone. :redface::biggrin: -
Now, if you are only talking about the Oil Companies, the Tobacco companies will be like an ant. None of the Oil Companies feel guilty about shagging anyone.
Ah, what? Oil companies are the least profitible as compared to big tobacco, McDonalds, Wal Mart and the like. No one goes after them for their profits. Why evil big oil?
Meh, NVM. It is off topic anyway.Fronts: Polk RTi A9's
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And here we go... :rolleyes: lol--Gary--
Onkyo Integra M504, Bottlehead Foreplay III, Denon SACD, Thiel CS2.3, NHT VT-2, VT-3 and Evolution T6, Infinity RSIIIa, SDA1C and a few dozen other speakers around the house I change in and out. -
I didn't realize that Bose was HQ here. As for the rest, I'm sure he & MIT are laughing all the way to the bank.
Bose HQ is on One, The Mountain in Framingham (a capped landfill) - very close to the Pike and Rte 9. I know several (ex) Bose employees who are, interestingly, skilled EE's with excellent, critical ears.
As a beneficent gift to MIT, Dr. Bose's is quite noteworthy, I would think.
Hmmm... guess it's too late for Matthew to do the same for his (our) alma mater... although I guess his will may have a stock donation in it... -
That's a laugh.
Their noise cancelling technology and subsequent products, applications....regardless of what we would talk about here for the most part, is highly regarded and ahead of the rest. They started all this over a decade ago.CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint. -
Bose has always taken itself very seriously as a technology/R&D company - and has over its history recruited, developed, and maintained quite a bit of R&D talent (as well as passing it on to other tech companies, particularly in the Boston metro area).
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I concur that their noise canceling technology is top notch, having owned a few pairs of their noise canceling cans. Great for travel.
Their speakers.... are too colored for me.
But if you consider the popular sources people use nowadays, popular genres, psychoacoustic, etc... perhaps they've hit a sweet spot of some sort. -
They have sound ideas but not all of them sound good.
There noise canceling tech is very good though. -
He must have taught Marketing there.Never kick a fresh **** on a hot day.
Home Setup: Sony VPL-VW85 Projo, 92" Stewart Firehawk, Pioneer Elite SC-65, PS3, RTi12 fronts, CSi5, FXi6 rears, RTi6 surround backs, RTi4 height, MFW-15 Subwoofer.
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He must have taught Marketing there.
EE. He was a professor at MIT (probably adjunct faculty for most of the time) from 1956 to 2001.
http://www.calcuttaweb.com/nri/Amar_Gopal_Bose.shtml
http://web.mit.edu/newsoffice/2011/bose-gift.html -
JustinHEMI wrote: »Ah, what? Oil companies are the least profitible as compared to big tobacco, McDonalds, Wal Mart and the like. No one goes after them for their profits. Why evil big oil?
Meh, NVM. It is off topic anyway.
Oil companies are the least profittable??? They are the most profittable coz everyone with a car has no choice but to just bend over at the pump. You got the idea. Only a handful of cars today uses alternate fuel as CNG, 100% electric, or something else.
You have choices not to Smoke and Not to eat at McDonalds.Trying out Different Audio Cables is a Religious Affair. You don't discuss it with anyone. :redface::biggrin: -
It's reported that Bose was hired by the US military to create new noise cancelling headphones for fighter jet pilots. After spending millions of the military's money they produced a product that was much worse the military's original equipment, so the military cancelled Bose's contract and attempted to recoup their lost money. Bose now sells those headphones to consumers.Political Correctness'.........defined
"A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."
President of Club Polk -
It's reported that Bose was hired by the US military to create new noise cancelling headphones for fighter jet pilots. After spending millions of the military's money they produced a product that was much worse the military's original equipment, so the military cancelled Bose's contract and attempted to recoup their lost money. Bose now sells those headphones to consumers.
That's false.CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint. -
It's reported that Bose was hired by the US military to create new noise cancelling headphones for fighter jet pilots. After spending millions of the military's money they produced a product that was much worse the military's original equipment, so the military cancelled Bose's contract and attempted to recoup their lost money. Bose now sells those headphones to consumers.
(Citation needed)
This is from wikipedia:
"Bose has contracts with the U.S. military (Navy,[10] Air Force[11] and Army[12]) and NASA.[13] He is still the chairman and was the primary stockholder until he donated the majority of the firms share to Massachusetts Institute of Technology in 2011. [14] [15]"
From Bose's webpage:
"To help worldwide military personnel cope with exceedingly high noise levels generated by engines and travel in armored vehicles, Bose has developed an active noise reduction military headset—the Combat Vehicle Crewman headset.
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The Combat Vehicle Crewman headset was designed exclusively for demanding military applications and features the revolutionary technology of Acoustic Noise Cancelling™ headset technology. It significantly reduces unwanted noise by detecting ambient noise and then creating a mirror image signal that reduces the level heard by the user."
http://worldwide.bose.com/aim/en_tc/web/military_applications/page.html -
Well, if nothing else I respect the mans unique approach to "all around" sound; and being willing to think outside of the box (no pun intended). I find the 901 to be a heck of a fun rock speaker, when powered and placed correctly.Source: Bluesound Node 2i - Preamp/DAC: Benchmark DAC2 DX - Amp: Parasound Halo A21 - Speakers: MartinLogan Motion 60XTi - Shop Rig: Yamaha A-S501 Integrated - Shop Spkrs: Elac Debut 2.0 B5.2
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Their noise cancelling technology and subsequent products, applications....regardless of what we would talk about here for the most part, is highly regarded and ahead of the rest. They started all this over a decade ago.
+1
Agreed.
It takes a lot to receive a degree from MIT and an Ivy League degree in Electrical Engineering is no joke.polkaudio RT35 Bookshelves
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mhardy6647 wrote: »Bose has always taken itself very seriously as a technology/R&D company - and has over its history recruited, developed, and maintained quite a bit of R&D talent (as well as passing it on to other tech companies, particularly in the Boston metro area).
Absolutely. Some of the work they do, particularly with DSP (Fourier Transforms, Signal Processing, and Noise Cancellation) is extremely sophisticated. This is coming from someone who has taken multiple courses in Differential Calculus and Fourier Transforms. Literally equations as long as an entire blackboard - picture Einstein writing, that's how hard it is...polkaudio RT35 Bookshelves
polkaudio 255c-RT Inwalls
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