Dick Schulze: Capitalist; Hero
By Johnny Roosh
Best Buy founder gives U $40M for diabetes research
The University of Minnesota said today it will receive $40 million for diabetes research from the foundation of Best Buy founder Richard Schulze in what appears to be the second-largest gift in the university’s history.
The money, which will be paid over five years, is also thought to be nationally the second-largest diabetes research donation by an individual or foundation.
My youngest daughter is a Type-1 diabetic.
Thank you Mr. Schulze. I will never ever not shop for anything at Best Buy again.
December 11th, 2008 at 4:22 pm
“It may also be possible to avoid the immune system problem altogether by creating insulin producing cells from a patient’s own tissue with stem cell technology.”
What?!?! You don’t have to slaughter human babies to get this done? How can that be good? 😉
December 11th, 2008 at 4:37 pm
Schulze is such a hilarious story; Best Buy started out as a stereo store/head shop at Hamline and St. Clair in St. Paul (currently occupied by the Encore second hand store) run by a couple of hippies (including Schulze).
Forty years later, Shulze is one of Minnesota’s most successful capitalists.
Ain’t America grand?
December 11th, 2008 at 4:49 pm
When Dick gives money away, he goes all out. And to good causes, not trendy shallow organizations.
St Thomas University
Mayo cancer in Rochester
UofM diabetes
December 11th, 2008 at 5:24 pm
Well, speaking as a Tommy, I’m having second thoughts about St. Thomas these days. 😉
December 12th, 2008 at 5:54 pm
It’s nice to see such a gift–sad to say, my first thought was “how much of that came from the city of Richfield’s eminent domain gift to Best Buy?”
Don’t get me wrong; he is being generous with money he didn’t HAVE to give away. I just wish he’d have been as generous with the taxpayers of a particular Twin Cities suburb by not building his HQ with eminent domain abuse.
December 13th, 2008 at 11:44 am
…not that its any consolation but the dealerships that occupied that space would be going out of business now any way.
December 13th, 2008 at 12:26 pm
As much as I oppose the abuse of eminent domain – and Best Buy and Target were just the biggest beneficiaries – I think it’s safe to say BBY would have made plenty of money either way. Before they moved to Richfield (when I worked for them, as a matter of fact), they occupied four or five buildings in Eden Prairie, and were doing just fine.
Don’t get me wrong; if $4,000 of that $40,000,000 derived from the political mugging that led to their new HQ, it’s too much. But let’s keep it in perspective.
December 13th, 2008 at 1:54 pm
Yes, let’s keep it in perspective. It’s only socialism when the beneficiaries are people, not companies.
December 13th, 2008 at 10:29 pm
“It’s only socialism when the beneficiaries are people, not companies”
Nope- bailing out corporations- be they financial, sports or automobile ones- still qualifies as “socialism”. It’s just as bad to make corporations dependent on the public teat (or simply nationalizing them) as it is individual citizens.
Aside from the well-deserved criticism of the Bush Administration, though, I don’t know why you’re railing against the Republicans in general on this one, angryclown- it’s the lefty union workers up in Michigan who’re railing against them Southern ‘publicans (with their ferener corporations) fer not voting IN FAVOR of this corporate welfare . . .