Intel to donate $5 billion in stock to education
SAN FRANCISCO -- Intel co-founder Gordon Moore plans to donate about $5 billion of his own Intel stock to establish a new family foundation focusing on education, scientific research and the environment.
Moore's personal fortune of $26 billion ranked him fifth among the nation's wealthiest people in the most recent such survey done by Forbes magazine.
Creation of the Gordon E. and Betty I. Moore Foundation, which will be based in San Francisco, was announced Wednesday.
Lewis Coleman, who will leave his post as chairman of Banc of America Securities to become president of the foundation, said the organization will spend most of next year hiring 50-100 people and could be ready to begin giving out grants in late 2001.
Coleman said the foundation, which will be among the nation's richest, will try to focus on "scientific research and worthy projects that wouldn't normally be funded by the government."
Napster exec quits
REDWOOD CITY -- Jordan Ritter, one of Napster Inc.'s first employees, has left the company.
Ritter, 22, worked alongside co-founders Shawn Fanning and Sean Parker in the company's early days, taking the Napster music-sharing program from a dormroom hobby to Internet phenomenon that has pushed the boundaries of music distribution and copyright law.
A spokeswoman for Napster on Wednesday confirmed Ritter's departure from the company. Ritter leaves Napster as the company is embroiled in a copyright infringement lawsuit brought by the recording industry.
MTV, Excite teams up
REDWOOD CITY -- MTV and Excite(at)Home are partners on a new site that offers music video clips, news and other content from the cable TV network.
The material that debuted Wednesday at music.excite.com is available to users with a traditional dial-up connection to the Internet, but Excite(at)Home promises better sound and picture quality for the 2.3 million subscribers to the company's broadband connection.<
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CA Is Burning said:
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jameschimera said:
It's about time they repair pot holes on 101.
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