Fixing Detroit - Eli Broad

Complete video at: http://fora.tv/2008/11/20/Using_Entrepreneurship_to_Change_the_World

Billionaire philanthropist Eli Broad argues that using public funds to bailout the ailing auto industry will not fix the economic crisis in Detroit. Instead, Broad suggests a trust fund, a major restructuring, and a sizeable government order of efficient vehicles to deal with the crisis.

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After building two Fortune 500 companies from the ground up Eli Broad has turned his attention to philanthropy that uses entrepreneurship to improve the public good in education, science and the arts.

Here he joins Matthew Bishop of The Economist for a discussion on his efforts - ALOUD at the Los Angeles Public Library

Eli Broad is well known for his philanthropy and extensive art collection. A strong advocate of the city, he is actively involved in the on-going projects to revitalize downtown Los Angeles, and is an ardent supporter of efforts to raise the city's cultural profile.

Broad made his initial fortune in real estate at his company Kaufman & Broad (now KB Home). He is also a founder of the financial giant SunAmerica. He was CEO of SunAmerica, now a subsidiary of the American International Group, until the year 2000. With an estimated net worth of around $5.8 billion, he is ranked by Forbes as the 42-richest person in America.

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News & Politics

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• gas
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• bailout
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• economy
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[kschoeck]

@yowzephyr Thanks, I'll watch it. It's wierd how they both have that same accent- same lazy twang to their voice. They do the same "uhh" thing too between sentences.

[yowzephyr]

@kschoeck Hmm. Interesting comment. I never would have noticed that, but now that you mention it, I do hear what you are saying. I looked up Eli Broad, and I looked up Owen Wilson. They did not grow up in the same areas, nor do they have a similar ethnic background. So that just makes it more strange how they talk in that same way.

Tonight (April 24, 2011) "60 Minutes" is doing a piece on Eli Broad. "60 Minutes" has a great website. Watch it there. I feel sure they won't mention Wilson tho.

[alexglauer]

The older guy is not very pleasant to listen to.

[kschoeck]

he sounds just like an older owen wilson!!!

[redriverski]

Another brilliant businessman who caused a failed company.

[Cubicleboy04]

It's just a waste of money because at the end of the day, these companies are not selling enough cars. There isn't enough demand for their products. We should be encouraging innovation from smaller companies like Tesla Motorcars rather than trying to keep alive businesses that are already dead.

[tico8007]

Let Detroit and it's crooked unions and souless auto companys go bust. Why should hard working people subsidise the making of garbage that no one wants to buy anyway.

[Finn001abd]

Or just let them go down and then buy them up and make them public companies what produce the vehicles America needs and create tariffs on slave wage products. Then return the innovative hybrid cars to production. Just a suggestion.

[allgoo19]

Just think about it.

CEO getting bonus for begging to the government.

Why we don't hear about the recovery plan?

Sure, the economy will get worsen when they close down, but it will happen bailout or not any way.

It all comes down to the nostalgia. End of the American auto industry, how sad?! So, we all pay to keep it alive?

There's a place for that kind of things, called museum!!

[john123wayne]

why not listen to eli broad? (i ask sincerely because i do not know much about this man).

he seems intelligent.

thank you