When the Gates family sat down to dinner 35 years ago, a favorite topic of debate was fundraising at the United Way. Soon after the discussion started, young Bill then a teen and now the world’s richest man would interrupt with the injunction: “Mom, let’s look at this strategically!”
In his keynote speech at the Philanthropy Summit, sponsored by United Way of Greater Los Angeles on Oct. 24, Bill’s father, William Gates Sr., discussed strategic options for businesses to participate in reforming L.A.’s public education system.
Gates, a former attorney who now co-chairs the Bill & Melinda Gates Foundation, began with some grim statistics. “Half the kids who start the ninth grade in this city never graduate from high school,” he said. Nationally, more than 1 million students drop out every year, costing the U.S. economy $325 billion in lost wages and productivity.
Gates suggested corporations support high-school internship programs, advocate for college prep courses at all schools and arrange field trips so students can see real-world applications of academics.
Also, entire industries can develop specialty schools to ensure a future supply of qualified workers. Gates cited the Health Professions High School in Sacramento, which has partnerships with local hospitals and Kaiser Permanente. Likewise, the Construction Academy in San Diego trains students for all levels of building work, from architecture to the trades.
“In L.A., you have a strong health care industry, you have a thriving construction industry,” Gates stated. “Need I say more?”
After Gates concluded, five local leaders took the stage to discuss education, housing and health issues. Business Journal Publisher Matt Toledo moderated the panel.
Toledo asked whether cities should require developers to build affordable housing or offer economic incentives. East West Bank Chair Dominic Ng favored incentives and drew strong applause when he reported that his bank has loaned billions to low-cost housing developments and “never lost a penny.”
United Way recognized local corporations for their fund-raising. Jeff Johnson, chairman of the Greater Los Angeles United Way and former publisher of the Los Angeles Times, handed the first award to David Hiller, his successor. Other award-winners included AT & T;, Deloitte & Touche, Enterprise Rent-A-Car, Bank of America, Wells Fargo, and local offices of the federal government.
