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Author Topic: Gates & Buffett... Will we see any of it?  (Read 4359 times)

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Offline Life

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« Last Edit: June 26, 2006, 05:21:11 PM by Eric »

Offline Moffie65

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Re: Gates & Buffett... Will we see any of it?
« Reply #1 on: June 26, 2006, 05:30:34 PM »
from the article you just linked:::
The foundation, which has assets of $30.6 billion, spends money on world health, poverty and increasing access to technology in developing countries. In the United States, it focuses on education and technology in public libraries.


You should know better.  The Gates Foundation is largely involved in Prevention work in developing countries, and no care for those already infected.  On their site, they ask for applicants to work with the foundation, but one of the first things they ask for is the source of your Doctorate.  I have no axe to grind with the Nerd from Seattle, but PAAAALEEEEZE, you would think that nobody had any capability unless they are blessed with loads of riches, and degrees up the ass.

The Bill Clinton Foundation, now there is a story of another color.  His foundation is working to make sure all people on the globe have medications and care.  I think the far better investment is with this foundation. 

Just my view.

In Awe of Nerds and their followers.
« Last Edit: June 26, 2006, 05:32:24 PM by Moffie65 »
The Bible contains 6 admonishments to homosexuals,
and 362 to heterosexuals.
This doesn't mean that God doesn't love heterosexuals,
It's just that they need more supervision.
Lynn Lavne

Offline Life

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Re: Gates & Buffett... Will we see any of it?
« Reply #2 on: June 26, 2006, 06:06:08 PM »
I will be visiting again with Bill next week... I will give him a hug for you Tim...

ps why should I know better?  I am newly infected and am just trying to keep myself together....
« Last Edit: June 26, 2006, 06:15:30 PM by Eric »

Offline Eldon

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Re: Gates & Buffett... Will we see any of it?
« Reply #3 on: June 26, 2006, 06:16:51 PM »
I agree with Tim that the money should have gone to the Bill Clinton Foundation. Bill Gates is a Billionare already and his foundation has a number of funding sources going to it.

Offline jack

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  • fomerly the loser known as Jake
Re: Gates & Buffett... Will we see any of it?
« Reply #4 on: June 26, 2006, 06:24:49 PM »
yeah,but who in their right mind would trust Clinton with anything,let alone the money they have saved from a life time of work.  I dont know where the gates foundation is putting their money, but I would trust someone from the private sector way before any person who has spent their life at the goverment trough, including the bushes and clintons.
too bad Clinton didnt do anything for you when he had the money and power.

Offline Dennis

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Re: Gates & Buffett... Will we see any of it?
« Reply #5 on: June 26, 2006, 10:57:25 PM »
I've been reviewing the Bill and Melinda Gates foundation website on and off over the last 24 hours and have to disagree with what Tim posted.  Although a large chunk of their money does go to organizations overseas I did see quite a few Universities in the States that recieved grants towards HIV/AIDS and infectious disease research.  The one that stood out though was...

HIV/AIDS - Grant
April 28, 2006
Global Solutions for Infectious Diseases
Brisbane, CA
$7,991,181 over 3 years to acquire and disseminate information that will further the development of a safe and effective HIV vaccine.

I wasn't successfull in finding any information about the company awarded the grant though. 

Watching the news this evening they mentioned that a good sum of money is going to be put towards finding a "cure" for AIDs.  I know you can't believe everything you hear on the news but I would like to hope that some good can come out of this. 

I did look into volunteer options and noticed that you are referred to an outside source called Volunteer Match which appears to place you with an organization in your area and that best suits your skills.  Tons of job openings though.  Nothing I would be qualified for so I didn't spend that much time researching.  Anyways, I didn't see anything asking the source of one's Doctorate. 

Offline Robert

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Re: Gates & Buffett... Will we see any of it?
« Reply #6 on: June 26, 2006, 11:57:39 PM »

Well we certainly cannot depend on our government to provide any hard cash.   The one organization in the world (World Health Organization, who else?) relays primarilly on the USA for its funds and its failure to deliver medicines has led to a global health emergency

The Gates Foundation was already the largest in the world ($29+ billion) and Buffet's contribution will more than double it.  And remember Gates and Bono are on the same side when it comes to helping others.  The fact that they do it with their own money leds me to believe they'll be more careful as to how it's spent.  When it's someone else's money (the government) people are less likely to really care about the bottom line and results than if it was their own money.



Offline Cliff

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Re: Gates & Buffett... Will we see any of it?
« Reply #7 on: June 27, 2006, 01:28:50 AM »
What does Bill Clinton's foundation do?  I know he helps to negotiate lower drug prices for developing nations, but what else does it do?  Surely his foundation doesn't need billions just to negotiate lower drug prices.

Gates' foundation is highly respected so I think this is a great opportunity for HIV/AIDS.  As Robert said, people are much more careful and demand results when it's their own money.  And as great of a business leader Buffett is, (and as conservative with cash as he is), I know he did his homework and the fact that he trust the Gates' foundation with the bulk of his wealth says a lot.

I remember one year, (it was either 2002 or 2003), Bill Gates' foundation was the second largest contributor to HIV/AIDS vaccine research, (after the US Government).  His foundation donated much, much more than all the European and Asian governments COMBINED.  To me that says alot, (and quite frankly also says a lot about Europe's lack of leadership in the hunt for a cure).

Offline Jeffreyj

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Re: Gates & Buffett... Will we see any of it?
« Reply #8 on: June 27, 2006, 08:13:52 AM »
What a terrific story this is. I totally have been floored by Buffet's(and Gates') huge gift to the world. I don't think its fair to bash or speak negative about this in any way, shape , or form. Finally someone does something great, and people somehow find a bad thing to say about it. Come on, can't we all just be grateful for such a wonderful gift to society. I say Thank you. Rarely have I been so moved by such an awesome display of goodness. It sure is a refreshing change of greed and cooperate selfishness. What has Chevron, Exxon or other billion dollar corporations done for anyone lately?  I applaud these two men for doing the right thing, for a change. I hope it is a sign of new things to come. Thanks Bill. Thanks Warren. I think you guys are outstanding. We all need to feel good about this.
Positive since 1985

Offline krakerjm

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Re: Gates & Buffett... Will we see any of it?
« Reply #9 on: June 27, 2006, 02:58:50 PM »
I am a bit appalled that the second richest man in the world would give his money to the richest man in the world.  Doesn't matter except that while the global fight against AIDS is improtant, how important would that kind of money be to research, and helping those in need here???
GWM, 63, PN w/footdrop
"I swear there ain't no heaven, pray ther ain't no hell"

Offline krakerjm

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Re: Gates & Buffett... Will we see any of it?
« Reply #10 on: June 27, 2006, 03:08:15 PM »
I repect Bill Gates and Bill Clinton for what they are doing, regardless of how or where the money is spent.  There are untold billions, trillions out there controlled by those who don't give a f*ck.  How much is 30 billion dollars anyway; I wouldn't know as I survive on $879 a month, LOL.  Guess that's what the government and rich people in the U.S. expect me to do with all their 'wonderful' and underfunded social services.  Oh yes, I have everything I need medically, where is my quality of life in the richest country on earth?!  Charity begins at home, I thought.
GWM, 63, PN w/footdrop
"I swear there ain't no heaven, pray ther ain't no hell"

Offline Cliff

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Re: Gates & Buffett... Will we see any of it?
« Reply #11 on: June 27, 2006, 03:11:25 PM »
Melinda Gates Says Buffett's Donation Could Be Used for HIV Vaccine Research, Other Projects
The Bill & Melinda Gates Foundation aims to use a portion of the donations totaling more than $30 billion from Berkshire Hathaway Chair Warren Buffett to fund HIV vaccine research and microbicides, Melinda Gates suggested on Tuesday during a news conference in New York City with Buffett and Bill Gates, the New York Times reports (McNeil/Lyman, New York Times, 6/27). Buffett on Sunday in a letter said he will annually donate to the Seattle-based Gates Foundation 5% of stock holdings currently valued at $30.7 billion. The initial donation, to be made in July, will total an estimated $1.54 billion. The conditions of the donation require that Bill or Melinda Gates continue active participation in their foundation. Buffett also will become a trustee of the Gates Foundation. The foundation has an endowment of $29 billion and to date has spent more than $10 billion, much of it on programs to fight HIV/AIDS and other global health concerns (Kaiser Daily HIV/AIDS Report, 6/26).

Gates' Comments
Melinda Gates on Tuesday said her "fondest dream" is an HIV/AIDS vaccine but added that it could take 20 years of research and development to attain. She added that microbicides have the potential to aid in a temporary solution to HIV prevention until a vaccine is developed (New York Times, 6/27). Microbicides include a range of products -- such as gels, films and sponges -- that could help prevent the sexual transmission of HIV and other sexually transmitted infections (Kaiser Daily HIV/AIDS Report, 4/27). Bill Gates at the news conference said, "There is no reason we can't cure the top 20 diseases" (Milton, AP/Boston Globe, 6/26). He asked, "Can that happen in our lifetime?" adding, "I'll be optimistic and say absolutely" (New York Times, 4/27). Bill Gates also said the Gates Foundation recently has become interested in the practice of microcredit, which aims to help women and families start businesses and save money. In addition, the foundation has become interested in agricultural biotechnology to help secure food sources, the Wall Street Journal reports. Melinda Gates explained that while touring in Africa the couple saw many people who were receiving medications for HIV/AIDS or tuberculosis but did not receive the full benefits of the drugs because of a lack of food and water (Beatty/Chase, Wall Street Journal, 6/27). "It's hard to take (medication) if you don't have food -- they can hardly swallow their medication," she said, adding, "They need to have some way of supporting themselves if they are going to stay healthy over time" (Masters/Noguchi, Washington Post, 6/27).

Gates Foundation's Effect on Government Health Programs, Spending
Some experts said governments should not use Buffett's donation as an "excuse to pull back from their responsibilities," the Los Angeles Times reports. Susan Aaronson, director of globalization studies for the Chapel Hill, N.C.-based Frank Hawkins Kenan Institute of Private Enterprise, said there is a chance that governments using private funding could abandon responsibility for providing services such as basic health care to their citizens. Other experts added that the growing influence of philanthropists could channel attention to their "pet projects," while other needs are ignored, according to the Times. "You can't have the whole world's health agenda based in Seattle," Samantha Bolton, an adviser to the group Drugs for Neglected Disease Initiative, said, adding, "Gates stresses this himself. The priorities and policies have to come from the governments. They have to remain involved. If you want to have an impact, you need public money" (Iritani, Los Angles Times, 6/27). According to the Organization for Economic Cooperation and Development, governments in 2005 provided more than $100 billion in development assistance, one quarter of which came from the U.S. (Collinson, AFP/Yahoo! News, 6/27). Richard Klausner, former director of the National Cancer Institute and former head of global health for the Gates Foundation, said that if governments neglect public health programs, "it's because they were looking for an excuse, not because there's no need" (New York Times, 4/27).

Related Editorials
Several newspapers published editorials on Buffett's donation. Some of these are summarized below.

Boston Globe: Even though "not all problems should be solved through personal responsibility and private effort," a risk of Buffett's gift is that it "could feed complacency, the shrug-it-off expectation that the private sector will tackle knotty, expensive problems," a Globe editorial says. The donation "should spur individuals and nations to spend more time asking how great wealth can help make great progress," the editorial concludes (Boston Globe, 6/27).

Los Angeles Times: "Thousands, or maybe millions, of people will soon be saved from needless death" because of Buffett's gift, according to a Times editorial. "Buffett's action is a refreshing move in the world of philanthropy," the editorial says, adding that other wealthy people "should follow his lead in treating overseas poverty as an immediate concern." The editorial concludes, "Nurturing a more peaceful, prosperous and healthy world beats having your name on a building anytime" (Los Angeles Times, 6/27).

New York Times: "[T]he reach of Mr. Gates' and Mr. Buffett's combined philanthropy is truly global," though the importance of Buffett's gift is "not only its staggering amount," a Times editorial says. Rather, the significance also is that Gates and Buffett, "two of capitalism's greatest champions and, arguably, its two biggest beneficiaries, have joined forces to give back," according to the editorial (New York Times, 6/27).

Rochester Democrat and Chronicle: Buffett's donation "creates a massive engine of social betterment," according to a Democrat and Chronicle editorial. Now, the "chances of saving millions of lives and actually defeating some of the illnesses that devastate the poor seem remarkably bright," the editorial says (Rochester Democrat and Chronicle, 6/27).

USA Today: Buffett's gift is "notable in several ways," including the "sheer size" of the donation, which definitely will have an impact on the world, a USA Today editorial says. The editorial notes that Gates and Buffett do not "think small," citing a statement Gates made Monday: "There's no reason we can't cure the world's 20 deadliest illnesses" with the donation (USA Today, 6/27).
Related Opinion Pieces
The Boston Globe and Washington Post published opinion pieces on Buffett's donation. The pieces are summarized below.

Scot Lehigh, Boston Globe: Buffett and Gates' renewed focus on "making the planet a better place" could "redefine the obligations of wealth," columnist Lehigh writes in a Globe opinion piece. Their commitment should "set an important example in the world of giving" and send the message that "t's important to do something worthwhile with your wealth -- and to do it while you're still alive," Lehigh writes (Lehigh, Boston Globe, 6/27).

Eugene Robinson, Washington Post: With the Buffett donation, the Gates Foundation must spend an extra $1.5 billion a year, which means they have to find "productive ways to disburse an extra $4 million a day, including Saturdays and Sundays," Post columnist Robinson writes in an opinion piece. "The real question" regarding Buffett's donation "is whether any one organization, even one with essentially unlimited resources and world-conquering managers at the helm," such as the Gates Foundation, can effectively manage such a large donation, Robinson says. He writes that Buffett has a "pretty good track record" of assessing an organization, adding, "I hope he's right this time" (Robinson, Washington Post, 6/27).
Broadcast Coverage
Several broadcast programs reported on Buffett's announcement and the implications for charitable giving to global health issues:

ABCNews' "World News Tonight": The segment includes comments from Eric Pooley, managing editor of Fortune magazine (Harris, "World News Tonight," ABCNews, 6/26). Video of the segment is available online.

APM's "Marketplace": The segment includes comments from Paul Light, professor of not-for-profit management at New York University (Vigeland, "Marketplace," APM, 6/26). The complete transcript and audio of the segment in RealPlayer are available online.

CBS' "Evening News": The segment includes comments from Buffett, Gates and Stacy Palmer, editor of the Chronicle of Philanthropy (Mason, "Evening News," CBS, 6/26). The complete segment is available online in RealPlayer.

NBC's "Nightly News": Daniel Borochoff, founder of the American Institute of Philanthropy; Buffett; the Gateses; and Pooley (Fratangelo, "Nightly News," NBC, 6/26). The complete segment is available online in Windows Media.

NPR's "All Things Considered": The segment includes comments from Tom Paulson, global health reporter for the Seattle Post Intelligencer (Norris, "All Things Considered," NPR, 6/26). The complete segment is available online in RealPlayer.

NPR's "Morning Edition": The segment includes comments from Buffett; Helene Gayle, president and CEO of CARE USA; Palmer; Paul Schervish, director of Boston College's Center on Wealth and Philanthropy; and former Gates Foundation staff members (Kaufman, "Morning Edition," NPR, 6/27). The complete segment is available online in RealPlayer.

NPR's "Talk of the Nation": The segment includes comments from Dwight Burlingame, professor of philanthropic studies at Indiana University; Pablo Eisenberg, senior fellow at the Georgetown Public Policy Institute; and Jill Manny, executive director of the National Center on Philanthropy (Conan, "Talk of the Nation," NPR, 6/26). The complete segment is available online in RealPlayer.

PBS' "NewsHour with Jim Lehrer": The segment includes comments from Buffett; the Gateses; Carol Loomis, editor at large for Fortune magazine; and Eugene Tempel, executive director of the Center on Philanthropy at Indiana University (Holman/Warner, "NewsHour with Jim Lehrer," PBS, 6/26). The complete transcript is available online. The complete segment is available online in RealPlayer.

PBS' "Nightly Business Report": The segment includes comments from Phil Buchanan, executive director of the Center for Effective Philanthropy; Buffett; Gates; and Melanie Schnoll Begun, managing director of Citigroup Philanthropic Services (Gharib/Pratt, "Nightly Business Report," PBS, 6/26). The complete transcript is available online.


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