MIT Gets Majority of Bose Stock -- and Scrutiny

May 2, 2011

Amar Bose, the founder of the company with his name that makes high-end audio products, has donated a majority of the corporation's stock to the Massachusetts Institute of Technology, stipulating that MIT will benefit from dividends, but will not vote on company direction. The New York Times reported that the gift has raised the eyebrows of some tax experts, who note that MIT cannot vote or sell the stock. Some experts told The Times that more detail should be released on the gift, and that it may not be fair to call it a full gift, given the limits on MIT's use of the stock.

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