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Posts Tagged ‘CRISPR patent wars

Speaking of Projects and Nonprofits Funded by The Broad Foundation…. How about The Broad Institute (and its role in waging Patent Wars over CRISPR (Gene Perturbation, RNA/DNA cutting-edge research) with UCBerkeley?) [Publ. June 18, 2017]

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Speaking of genetics, here’s the geneaology of this post Speaking of Projects and Nonprofits Funded by The Broad Foundation…. How about The Broad Institute (and its role in waging Patent Wars over CRISPR (Gene Perturbation, RNA/DNA cutting-edge research) with UCBerkeley?) (case-sensitive short-link ending “-720” that “0” is a zero, not O as in “Ohio.”).  

My unpaid, ad hoc “developmental editor” (sounding board for coherence, flow, and how it communicates the central ideas, not personally involved in the primary content I report on, by now familiar with the blog and my writing style), suggested I not dilute the middle of the previous (parent) post (“Why Bother to Unravel….”) with this fascinating information on another Broad Foundation project at Harvard & MIT.

I didn’t want to add this fascinating information to the end of the “Why Unravel…?” post (full title and starting sentences — see image below left)  — it was too relevant and interesting to be that far down — so a new post it is as of June 15, 2017 (so far). (and now published..//LGH)

I already had a second, more detailed (older sibling?) post** started on the same topic, so this can stand in as a preview. (**The Broad Institute (MIT,Harvard, TBF*, 2008) and Stanley Family Foundation (see MBI, Inc.)-funded Psychiatric Research (“schizophrenic, bi-polar”) Testing & Treatment Advocacy (TAC) and Gene-Editing (CRISPR-Cas9) USPTO Patent Wars with UCBerkeley et al. (case-sensitive short-link ending “-71z” and post started June 14, 2017, currently in draft published in July). I’ll post the link again at the bottom.

After following that ad hoc editor’s advice, I then somewhat ignored it by still leaving in a shorter section, (a “footprint”– image below-right with extended caption) then expanding further upon another of the organizations of the type I was blogging, that is, upon the Council of State Governments, an association of the same generic “type” as the one which had received a $10.5M grant long ago for a MIA (“Missing-In-Action” that is, not to be found in anything resembling $10.5M worth of product, or as described) project by the Council of Chief State School Officers.  From the earlier version of The Broad Foundation (dba of “The Eli and Edythe Broad Foundation.”)

Snapshot of my June 16 2017 post, the section referring to The Broad Institute (involving Harvard, MIT & The Broad Foundation) and their recent patent wars with UCBerkeley over CRISPR processes), and the “footprint” of Broad Institute info left at the “Why Unravel” 6/16/2017 post more on private associations named after public officials or entities (State legislators, Governors, Mayors, City Managers, School Facilities Planners, or, case in point, Chief State School Officers).


But first, a bit of “genealogy” of The Broad Foundation, or as they now say “The Broad Foundations.” (their financial statements identify what’s meant by that — includes one related to art).

I’ll pick up the narrative with a reminder below this section.

First, A Bit About The Broad Foundation

(Some consciousness-raising from its website, global financial history events in mainstream media about an insurance company it bought for $52M, sold for $18B a generation later, after which the US Taxpayers had to bail out the insurer for $85B, AND they also paid some of its CEOs $165M to stay on and straighten out the mess they’d made, and pay a nearly $1 billion settlement to shareholders.  As I’m reviewing this, and the startup of the Broad Institute at JUST ABOUT the same time, I’m also remembering how the Broad Foundation (will summarize below again) switched its EIN# and corporate Entity#s, moving assets smoothly from one to another, while persuading the IRS it wasn’t a real termination of the earlier one.

In addition (as it reminds me) exceptions were made for their “Broad Center” (with both old and new nonprofits focused on training urban education leaders) on its 990s, despite being primarily funded by The Broad Foundation (old & new EIN#s both) in stating that the major philanthropic foundation wasn’t “really” a related entity (as the IRS form prompts to reveal), despite being the major funder and having major overlap of board of directors in common (typical indicators).  I won’t post that info here (might have previously), or it might overburden this post, but will respond to any comment asking for the details.  Or, you can go through the process I did, and read the involved Form 990s of all four entities around the time of transition.  I posted some of it near the bottom of my recent (June 16, 2017) post.)


“Broad” in this foundation is not pronounced like a derogatory term for women, but to rhyme with “road” or “Rhodes” as in a Rhodes scholarship.  

Current website features education first (Education, Science, and the Arts) and uses very large font, many pictures and bright colors, while (as I found with theBroadCenter.org) no easy link to find the financials. A link to “Foundation Report” will instead lead to descriptions of their projects.  No audited financial reports and certainly no Form 990PFs (next two images).

It also has the short version of their astounding success from humble origins (Detroit Public Schools, Michigan State, married straight out of college, Eli Broad went from CPA to homebuilder [nationwide AND France], making homes without basements therefore more affordable to young people, Kaufman & Broad for a while, also purchasing SunLife (retirement savings for the Baby Boomers he was already selling homes to), and moving to Los Angeles by 1963:

In 1971, Eli acquired SunLife, a small insurance company founded in 1890, for $52 million and transformed it into a new business that would answer another essential public need: offering secure retirement savings to aging Baby Boomers—the same customers who bought homes from Kaufman and Broad. SunAmerica, as Eli renamed the company, provided retirements for a generation of Americans. The company was the best-performing on the New York Stock Exchange for a decade, brought thousands of jobs to Los Angeles and created wealth for its employees, shareholders and Eli’s family when he sold the company to AIG for $18 billion in 1999.

AIG was world’s largest insurer.  Only nine years later, after the Broads got out of it, with MAJOR profits creating no doubt debt to be funded, in 2008, the U.S. taxpayers bailed out AIG…. Wall Street Journal article (see image.  Unfortunately, WSJ  wants a subscription to read it all; but I’ll bet most of my readers over the age of 20 may remember events of 2008).  (U.S. to Take over AIG in $85 Billion Bailout: Central Banks Inject Cash as Credit Dries Up | Emergency Loan Effectively Gives Government Control of Insurer; Historic Move Would Cap 10 Days That Reshaped U.S. Finance)

WSJ on AIG Takeover (date: Sept. 2008)Click image if needed to read the preview shown

An April 11, 2017 retrospective in “The Balance.com” by Kimberly Amadeo, recounts how the AIG bailout made (then-chairman of the Federal Reserve) Benanke angrier than anything else.  A good reminder of how it happened and how many were involved, I’d read it…
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Written by Let's Get Honest

June 18, 2017 at 5:36 pm

martinplaut

Journalist specialising in the Horn of Africa and Southern Africa

Let's Get Honest! Absolutely Uncommon Analysis of Family & Conciliation Courts' Operations, Practices, & History

'A Different Kind of Attention Develops Sound Judgment' | 'Suppose I'm Right Here?' (See March 23 & 5, 2014). More Than 745 posts and 45 pages of Public-Interest Investigative Blogging On These Matters Since 2009.

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