Microsoft co-founder Paul Allen dies at 65

Agencies
October 16, 2018

Paul G. Allen, who co-founded Microsoft with his childhood friend Bill Gates before becoming a billionaire philanthropist who invested in conservation, space travel, arts and culture and professional sports, died Monday. He was 65.

He died in Seattle from complications of non-Hodgkin’s lymphoma, his company Vulcan Inc. announced.

Gates said he was heartbroken about the loss of one of his “oldest and dearest friends.”

“Personal computing would not have existed without him,” Gates said in a statement.

“But Paul wasn’t content with starting one company. He channeled his intellect and compassion into a second act focused on improving people’s lives and strengthening communities in Seattle and around the world. He was fond of saying, ‘If it has the potential to do good, then we should do it,’” Gates wrote.

Microsoft CEO Satya Nadella called Allen’s contributions to the company, community and industry “indispensable.”

“As co-founder of Microsoft, in his own quiet and persistent way, he created magical products, experiences and institutions, and in doing so, he changed the world,” Nadella wrote on Twitter.

Allen, an avid sports fan, owned the Portland Trail Blazers and the Seattle Seahawks.

Allen and Gates met while attending a private school in north Seattle. The two friends would later drop out of college to pursue the future they envisioned: A world with a computer in every home.

Gates so strongly believed it that he left Harvard University in his junior year to devote himself full-time to his and Allen’s startup, originally called Micro-Soft. Allen spent two years at Washington State University before dropping out as well.

They founded the company in Albuquerque, New Mexico, and their first product was a computer language for the Altair hobby-kit personal computer, giving hobbyists a basic way to program and operate the machine.

After Gates and Allen found some success selling their programming language, MS-Basic, the Seattle natives moved their business in 1979 to Bellevue, Washington, not far from its eventual home in Redmond.

Microsoft’s big break came in 1980, when IBM Corp. decided to move into personal computers and asked Microsoft to provide the operating system.

Gates and company didn’t invent the operating system. To meet IBM’s needs, they spent $50,000 to buy one known as QDOS from another programmer, Tim Paterson. Eventually the product refined by Microsoft — and renamed DOS, for Disk Operating System — became the core of IBM PCs and their clones, catapulting Microsoft into its dominant position in the PC industry.

The first versions of two classic Microsoft products, Microsoft Word and the Windows operating system, were released in 1983. By 1991, Microsoft’s operating systems were used by 93 percent of the world’s personal computers.

The Windows operating system is now used on most of the world’s desktop computers, and Word is the cornerstone of the company’s prevalent Office products.

Gates and Allen became billionaires when Microsoft was thrust onto the throne of technology.

With his sister Jody Allen in 1986, Paul Allen founded Vulcan, the investment firm that oversees his business and philanthropic efforts. He founded the Allen Institute for Brain Science and the aerospace firm Stratolaunch, which has built a colossal airplane designed to launch satellites into orbit. He has also backed research into nuclear-fusion power.

Over the course of several decades, Allen gave more than $2 billion to a wide range of interests, including ocean health, homelessness and advancing scientific research.

“Millions of people were touched by his generosity, his persistence in pursuit of a better world, and his drive to accomplish as much as he could with the time and resources at his disposal,” Vulcan CEO Bill Hilf said in a statement.

Allen was on the list of America’s wealthiest people who pledged to give away the bulk of their fortunes to charity. “Those fortunate to achieve great wealth should put it to work for the good of humanity,” he said.

When he released his 2011 memoir, “Idea Man,” he allowed 60 Minutes inside his home on Lake Washington, across the water from Seattle, revealing collections that ranged from the guitar Jimi Hendrix played at Woodstock to vintage war planes and a 300-foot yacht with its own submarine.

Allen served as Microsoft’s executive vice president of research and new product development until 1983, when he resigned after being diagnosed with cancer.

“To be 30 years old and have that kind of shock — to face your mortality — really makes you feel like you should do some of the things that you haven’t done yet,” Allen said in a 2000 book, “Inside Out: Microsoft in Our Own Words.”

Two weeks ago, Allen announced that the non-Hodgkin’s lymphoma that he was treated for in 2009 had returned and he planned to fight it aggressively.

“My brother was a remarkable individual on every level,” his sister Jody Allen said in a statement. “Paul’s family and friends were blessed to experience his wit, warmth, his generosity and deep concern,” she added.

His influence is firmly imprinted on the cultural landscape of Seattle and the Pacific Northwest, from the bright metallic Museum of Pop Culture designed by architect Frank Gehry to the computer science center at the University of Washington that bears his name.

In 1988 at 35, he bought the Portland Trail Blazers professional basketball team. He told The Associated Press that “for a true fan of the game, this is a dream come true.”

He also was a part owner of the Seattle Sounders FC, a major league soccer team, and bought the Seattle Seahawks. Allen could sometimes be seen at games or chatting in the locker room with players.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 30,2020

New Delhi, May 30: The COVID-19 pandemic has left the Indian private healthcare sector in acute financial distress, a new survey said on Friday adding that the healthcare facilities in the country have witnessed at least 80 per cent fall in average revenue.

Post the lockdown from March 24, Indian hospitals have seen a large impact, especially among small and medium-sized hospitals, which are now facing existential challenges.

The survey by healthcare industry body NATHEALTH was conducted in 251 healthcare facilities across nine states and 69 cities to assess the impact of COVID-19 on the domestic healthcare industry.

The findings showed that 90 per cent of the surveyed healthcare facilities are facing financial challenges with 21 per cent facilities facing an existential threat.

"There is a need for a stimulus package to revive the Indian healthcare industry which will be crucial to provide much-needed relief to the healthcare sector which is the frontline defence in this fight against COVID-19," said Dr Sudarshan Ballal, President NATHEALTH.

According to the survey, hospitals in tier 1 and tier 2 cities are experiencing a 78 per cent reduction in OPD footfalls, and a drop of 79 per cent in in-patient admissions.

The study found that 90 per cent of organisations require some form of financial assistance.

The findings indicated that even after the lockdown lift, the situation will remain difficult for the hospitals and nursing homes as patients will hesitate from visiting hospitals.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Arab News
February 9,2020

London, Feb 9: A US court has rejected a Turkish attempt to dismiss civil cases brought by protesters who were violently attacked in Washington by Recep Tayyip Erdogan’s security officers.

The incident took place in May 2017 during a visit to the US by the Turkish president. About a dozen bodyguards beat-up a group demonstrating outside the Turkish ambassador’s residence in Washington.

The attack, which was caught on video, left nine people injured and further strained US relations with Turkey.

While criminal charges against the security guards were dropped within a year, around the same time Turkey released a US pastor, the victims pressed ahead with a civil case.

On Thursday, a federal court denied Turkey’s request to have the two cases thrown out on the grounds that it should have sovereign immunity from legal proceedings.

US District Judge Colleen Kollar-Kotelly said the protesters had not posed a threat and were merely gathered on a sidewalk outside the residence at Sheridan Circle when Erdogan’s security burst through a police line and attacked them.

“The Turkish security forces did not have the discretion to violently physically attack the protesters, with the degree and nature of force which was used, when the protesters were standing, protesting on a public sidewalk,” she said. “And, Turkish security forces did not have the discretion to continue violently physically attacking the protesters after the protesters had fallen to the ground or otherwise attempted to flee.”

The judge said Turkey “has not met its burden of persuasion to show that it is immune from suit in these cases.”

The ruling was welcomed by the victims of the attack, which Erdogan stopped to watch as he made his way from his car to inside the residence.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.