Hock Tan’s plucky bid for Qualcomm caught in China-U.S. crossfire. Comm. on Foreign Investment in U.S. delayed March 6 vote at Jacobs Hall—fears Broadcom Ltd. win hurts combined cos.’ ability to win 5G build-out.
Who cares? Pentagon. Major QCOM customer … wants QCOM to reign over 5G vs. China’s telcoms. No love for Broadcom?
“Broadcom is looking to take a ‘private equity’ direction if it acquires Qualcomm … reducing R&D,” reads Treasury memo published in the WSJ.
QCOM tossed a Hail Mary, asking Feds to probe. Touchdown. BRCM slate was head-bobbing with QCOM’s down the stretch of proxy fight. No shock. QCOM shares went from $70 to $50 pre-BRCM bid.
Vote now April 5.
Julie Hill, UCI Foundation chair, keynotes 10th Shea Riding Center Philanthropy Night May 3 … joins exclusive club for San Juan Cap. event—David Pyott, Peter Ueberroth, Mike Mussallem and Henry Samueli. BRCM co-founder tapped Hill for that slate of directors to take over QCOM. Years of bitter lawsuits between San Diego and Irvine didn’t end with amends …
Allen Plan … Assemblyman Travis Allen (R-H. Beach) hopes to make runoff vs. Gavin Newsom for governor. I know, new polls …
I ask all would-be govs same question: “What two growth initiatives top your agenda?”
“Cut taxes and regulations,” Allen pounced. “CEO Magazine rates us 50th in competitiveness” (13 years in a row).
“First, repeal the gas tax. Then initiatives to cut personal and corporate income taxes.”
“First chop?”
“CARB. Then Coastal Commission …”
CA’s top-two primary June 5.
Ware Malcomb CEO Larry Armstrong will lead business wing of United Way OC’s End Homelessness campaign. “First time we engaged business in meaningful way,” said United Way CEO Sue Parks.
Pacific Symphony CEO John Forsythe’s Jimmy Stewart sendup at annual gala has gone viral. OK, a few OC A-listers trading the link—but it is good. PSO to Carnegie Hall April 21. Among gala honorees, Sheila and Jim Peterson (see p.1 Microsemi story).
“Driving around the county … I became more concerned,” Armstrong said. “Ton of work going on … but more tents.” 40-plus business leaders signed on.
“Papa” … 1,500 at Tarbut V’ Torah Tuesday for Celebration of a Legacy. Irving “Papa” Gelman died March 4 at his Irvine home … Holocaust survivor, businessman came west, started OC’s only Jewish day school, nationally acclaimed TVT. Papa was 94.
Weekend lid-lifter … Jazz pianist Ron Kobayashi and Friday Night After Hours Jams at Mark Ghoukassian’s Bayside Restaurant in Newport. Go. (more, in this issue).
