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Encyclopedia > Charles Wang

Charles B. Wang (王嘉廉, pinyin: Wáng Jiálián) (born August 19, 1944) is the founder of Computer Associates International, Inc. (now CA, Inc.) and owner of the New York Islanders ice hockey team. He was born in Shanghai, but moved to Queens, NY, when he was eight years old. He attended the elite Brooklyn Technical High School in Fort Greene, Brooklyn. He earned a bachelor's degree in mathematics from Queens College in New York, and began working at Columbia University. In 1976, Wang started Computer Associates on credit cards at the age of 31. He has since authored two books to help executives master technology: Techno Vision (1994, McGraw-Hill) and Techno Vision II (1997, McGraw-Hill). Wang retired from Computer Associates in 2002. August 19 is the 231st day of the year (232nd in leap years) in the Gregorian Calendar. ... 1944 (MCMXLIV) was a leap year starting on Saturday (the link is to a full 1944 calendar). ... CA, Inc. ... CA, Inc. ... The New York Islanders are a professional ice hockey team based in Uniondale, New York, a city located on Long Island. ... Ice hockey, known simply as hockey in areas where it is more common than field hockey, is a team sport played on ice. ... Shanghai (Chinese: ; pinyin:  ; Shanghainese: ), situated on the banks of the Yangtze River Delta in East China, is the largest city of the Peoples Republic of China and the eighth largest in the world. ... Queens is geographically the largest of the five boroughs of New York City in the United States. ... Brooklyn Technical High School, commonly called Brooklyn Tech, is a New York City public high school that specializes in engineering, math and science. ... Fort Greene is a neighborhood in the New York City borough of Brooklyn. ... Brooklyn (named for the Dutch city Breukelen) is one of the five boroughs of New York City. ... A bachelors degree (Artium Baccalaureus, A.B. or B.A.) is usually an undergraduate academic degree awarded for a course or major that generally lasts for three, four, or in some cases and countries, five or six years. ... Euclid, Greek mathematician, 3rd century BC, known today as the father of geometry; shown here in a detail of The School of Athens by Raphael. ... Queens College is one of the senior colleges of the City University of New York. ... Columbia University is a private university whose main campus lies in the Morningside Heights neighborhood of the Borough of Manhattan in New York City. ... Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... An author is the person who creates a written work, such as a book, story, article or the like. ... A chained book in the Bodleian Library at Oxford University A book is a collection of paper, parchment or other material with a piece of text written on them, bound together along one edge, usually within covers. ... By the mid 20th century humans had achieved a level of technological mastery sufficient to leave the surface of the planet for the first time and explore space. ...


He is currently the majority owner of the New York Islanders hockey franchise, which he became part-owner of in 2000 and he later bought out the share of business partner Sanjay Kumar in 2004, and the New York Dragons Arena football franchise. He is the master developer of the Lighthouse, the transformation of the Nassau Coliseum and surrounding 77 acres. The project will include a five-star hotel; condominiums; an Athletic Complex featuring four ice rinks, a basketball facility and state-of-the-art health club that will serve as the Islanders’ practice facility and also be open to the public; a Sports Technology Center; open air plaza; and conference center. The New York Islanders are a professional ice hockey team based in Uniondale, New York, a city located on Long Island. ... NHL can also be an abbreviation for National Historic Landmark or Non-Hodgkins lymphoma. ... In sport, a franchise is a club given permanent rights to play in a specific league. ... Sanjay Kumar (born Colombo, Sri Lanka, 1962) is the Chairman & CEO of Computer Associates International. ... Conference National Division Eastern Year founded 1995 Home arena Nassau Veterans Memorial Coliseum City, State Uniondale, New York Wild card titles 1: 1995 Division titles 8: 1996, 1997, 1999, 2000, 2001, 2003, 2004, 2005 Conference titles none ArenaBowl championships none The New York Dragons are an Arena Football League team. ... Arena football is a sport invented by Jim Foster, a former executive of the United States Football League and the National Football League. ... In sport, a franchise is a club given permanent rights to play in a specific league. ... Nassau Coliseum, officially known as Nassau Veterans Memorial Coliseum (though colloquially referred to simply as The Coliseum), is a multi-purpose indoor arena in Uniondale, New York, half an hour from New York City. ...


He is also founder of Plainview Properties, a real estate firm which recently announced a major development, Old Plainview — a traditional village combining townhouses, apartments, offices, restaurants, a Hyatt hotel and recreation space using “smart growth” concepts. Smart growth is a concept and term used by those who seek to identify a set of policies governing transportation and land use planning policy for urban areas that benefits communities and preserves the natural environment. ...

Contents

Philantropy

Wang is also well known for his philanthropic works with such causes as the Make a Wish Foundation, and Smile Train among others. His donation of over $50 million dollars to the State University of New York at Stony Brook for the construction of the Charles B. Wang Center was the largest in history to a SUNY school. To meet Wikipedias quality standards, this article or section may require cleanup. ... The Make-A-Wish Foundation is a non-profit organisation that grants wishes to children with life threatening illnesses. ... The Smile Train is an international charity which helps children suffering from cleft lip and palate. ... Stony Brook University, (SBU), otherwise known as the State University of New York at Stony Brook, (SUNYSB), is a public research university located in Stony Brook, New York (on the north side of Long Island, about 65 miles east of Manhattan, New York). ... The Charles B. Wang Center The Charles B. Wang Center, located at Stony Brook University in Stony Brook, New York, is dedicated to understanding Asian and American cultures, and the interactions of these cultures with other world cultures. ... The State University of New York (acronym SUNY; usually pronounced SOO-nee) is a system of public institutions of higher education in New York, United States. ...


Charles Wang funded the expansion of the Chinatown Health Clinic and the clinic has been renamed the Charles B. Wang Community Health Center.


Controversy

Charles Wang's career as CEO of Computer Associates was marked with controversy.


In building up CA, Wang engaged in fifty takeovers followed by immediate firing of top management and key employees.


"His strategies had provoked descriptions like "rapacious", "heartless" and "Attila-the-Hun", largely driven by the draconian practices he engaged in with acquired companies, which included tactics which were typically legal only in New York State. The most notorious of these practices included forcing the employees of an acquired company to sign new employment contracts on-the-spot at a company meeting without prior warning - employees who refused the sign at the meeting or wished to have the contracts reviewed by a third party prior to signing were immediately fired."



Unfortunatley none of the above in quotes is true. Charles Wang is a respectable man who would do no such things. If being an excellent businessman is a crime, then he is guilty but there is no law against that.



He also alienated many in and out of CA by his paternalistic, family-oriented management style. In 1979, three years after CA's founding, Wang had installed his older brother Tony, a onetime corporate lawyer, as president and COO. Tony held the position until his retirement in 1992 to make way for Sanjay Kumar. In 1998, Nancy Li, Charles Wang's second wife, was named CA's chief technology officer. Wang has argued that the investment community was punishing CA's stock because of his refusal to override his sense of familial loyalty to avoid the appearance of nepotism. Sanjay Kumar (born Colombo, Sri Lanka, 1962) is the Chairman & CEO of Computer Associates International. ...


In 1998 Wang had initiated a $9 billion hostile tender offer for the shares of Computer Sciences Corporation (CSC). The Washington Post weighed in on the side of CSC's management by alluding to CA's "ties to foreigners". It was a pointed reference to Wang's origin and CA's clients in China. The suggestion was that becoming linked with CA would jeopardize CSC's contracts with U.S. government agencies. Wang dropped the tender offer, blaming the uproar on racism and inflated national security concerns. Computer Sciences Corporation (CSC) NYSE: CSC is an information technology (IT) and business services company headquartered in El Segundo, California, USA. Its mission is to help clients achieve strategic goals and profit from the use of information technology. ... ...


In 2000 a class-action lawsuit accused Wang, then president Sanjay Kumar and co-founder Russell Artzt of wrongly reporting more than $500 million in revenue in its 1998 and 1999 fiscal years, in order to artificially inflate the stock price. A previous stock option set in 1995 specified that a certain number of shares would vest when Computer Associates' shares sustained a target price. The benchmark was met in 1998, and the three executives combined received nearly $1 billion in Computer Associates stock with Wang himself netting $670 million; he had already been the highest paid CEO in the US for the past four years. Since then, at least four other class-action suits have been filed against Computer Associates, all of which have named Wang specifically, even though it is wrong. As the controversy continued to dog Wang even after he returned a portion of the stock award, he quit as CEO in 2000, and later resigned as Chairman of the Board in 2002. His resign was a devastation to CA and such a shame. He now has time to spend with his lovely chidlren and is very happy that his false accusations are coming to an end. This article is about the legal term. ... Sanjay Kumar (born Colombo, Sri Lanka, 1962) is the Chairman & CEO of Computer Associates International. ...


His successor Sanjay Kumar resigned as chairman and chief executive in April 2004, following an investigation into the accounting scandal which improperly reported revenue. A federal grand jury in Brooklyn indicted Kumar on fraud charges on September 22, 2004 [1]. Kumar pled guilty to obstruction of justice and securities fraud charges on April 24, 2006 [2]. and was sentenced to 12 years in prison plus an additional three years of supervised release on November 2, 2006. Sanjay Kumar (born Colombo, Sri Lanka, 1962) is the Chairman & CEO of Computer Associates International. ... A grand jury is a type of jury, in the common law legal system, which determines if there is enough evidence for a trial. ... For other meanings, see Brooklyn (disambiguation). ... September 22 is the 265th day of the year in the Gregorian calendar (266th in leap years). ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... April 24 is the 114th day of the year in the Gregorian Calendar (115th in leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...


New York Islanders

A Forbes article investigated why certain NHL franchises could remain profitable despite poor attendance and overall league unprofitability. They found that several league owners underreported their cable broadcast revenue; they specifically accused Wang of excluding half of the $17 million paid to the Islanders for the 2003 cable broadcast season. Forbes Building on Fifth Avenue in New York City Forbes is a publishing and media company. ...


After hiring Neil Smith as the general manager for the New York Islanders during the 2006 Stanley Cup Finals, he fired him 40 days later, replacing it by the team's backup goalie Garth Snow, who announced his retirement in order to take the job. Wang stated philosophical differences to be the cause of the firing. Islander fans have been very critical of this move, saying that Wang gets too involved with the management of his team, not letting experienced and Cup-winning GM Smith have freedom of action. Neil Smith is the General Manager of the New York Islanders. ... The New York Islanders are a professional ice hockey team based in Uniondale, New York, a city located on Long Island. ... The NHL unveiled a new logo for the 2006 Stanley Cup Playoffs. ... Garth E. Snow (born on July 28, 1969 in Wrentham, Massachusetts) is a retired professional ice hockey goaltender and is currently the general manager for the New York Islanders of the NHL. // Garth Snow was drafted by the Quebec Nordiques out of high school in the sixth round of the...


On September 12, 2006, Wang and GM Snow signed goaltender Rick DiPietro to a 15-year, $67.5 million contract. The length of the deal, as well as Wang's signing of Alexei Yashin to a 10-year contract a few years before, have added to controversy. Portal:Currentevents September 12 is the 255th day of the year (256th in leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... Rick DiPietro (September 19, 1981 in Lewiston, Maine) is an American hockey goaltender who currently plays for the NHLs New York Islanders. ... Alexei Valeryevich Yashin (Алексей Валерьевич Яшин, Aleksej Valerjevič Jašin) is a professional hockey player, born in Sverdlovsk, USSR, now Yekaterinburg, Russia, on November 5, 1973. ...


External links

  • CA hit with flurry of class-action lawsuits — from CNN (March 11, 2002)
  • Report: CA probe focuses on 1998, 1999 revenue — from Computer World (May 20, 2002)
  • Ice Capades — from Forbes (November 29, 2004)
  • Smith's firing just the latest odd move by Isles' Wang — from SI.com (July 19, 2006)
  • Charles Wang is sending waves through the hockey world — from CBC Television
  • Charles Wang's Early Exit from Computer Associates
  • MERGER MANIAC

  Results from FactBites:
 
Charles Wang - Wikipedia, the free encyclopedia (1142 words)
Wang is also well known for his philanthropic works with such causes as the Make a Wish Foundation, and Smile Train among others.
Charles Wang funded the expansion of the Chinatown Health Clinic and the clinic has been renamed the Charles B. Wang Community Health Center.
Charles Wang's career as CEO of Computer Associates was marked with controversy.
CEDX: Charles Wang Pitches the Lighthouse (718 words)
Charles Wang visited LIMBA on the 16th with his Roadshow for the Lighthouse on Long Island.
Wang has removed the lighthouse from the development, which in my opinion is a sad commentary on the lack of vision of Long Islanders and their political leaders.
Wang pitched the proposal there was a hue and cry for a competitive RFP process, which the deadline for recently passed.
  More results at FactBites »

 
 

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