Charles Wang
Encyclopedia
Charles B. Wang (born August 19, 1944) is the co-founder of Computer Associates International, Inc. (later renamed CA Technologies) and owner of the New York Islanders
New York Islanders
The New York Islanders are a professional ice hockey team based in Uniondale, New York. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League...

 ice hockey
Ice hockey
Ice hockey, often referred to as hockey, is a team sport played on ice, in which skaters use wooden or composite sticks to shoot a hard rubber puck into their opponent's net. The game is played between two teams of six players each. Five members of each team skate up and down the ice trying to take...

 team and their AHL affiliates, the Bridgeport Sound Tigers
Bridgeport Sound Tigers
The Bridgeport Sound Tigers are an ice hockey team playing in the American Hockey League. It has been the AHL affiliate of the National Hockey League's New York Islanders, who also own the franchise, since its inception, and use the same team colors as the parent Islanders do. The team is based in...

.

In 1976, Wang launched Computer Associates at the age of 31, using credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

s for funding. He has since author
Author
An author is broadly defined as "the person who originates or gives existence to anything" and that authorship determines responsibility for what is created. Narrowly defined, an author is the originator of any written work.-Legal significance:...

ed two book
Book
A book is a set or collection of written, printed, illustrated, or blank sheets, made of hot lava, paper, parchment, or other materials, usually fastened together to hinge at one side. A single sheet within a book is called a leaf or leaflet, and each side of a leaf is called a page...

s to help executives master technology
Technology
Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...

: Techno Vision (1994, McGraw-Hill) and Techno Vision II (1997, McGraw-Hill). Wang retired from Computer Associates in 2002.

Early life

He was born in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...

, and moved to Queens, NY, when he was eight years old; his family immigrating to the US on a standard visa program unrelated to the H1B or L1 visa programs. He attended the elite Brooklyn Technical High School
Brooklyn Technical High School
Brooklyn Technical High School, commonly called Brooklyn Tech or just Tech, and also administratively as High School 430, is a New York City public high school that specializes in engineering, math and science and is the largest specialized high school for science, technology, engineering, and...

 in Fort Greene, Brooklyn
Brooklyn
Brooklyn is the most populous of New York City's five boroughs, with nearly 2.6 million residents, and the second-largest in area. Since 1896, Brooklyn has had the same boundaries as Kings County, which is now the most populous county in New York State and the second-most densely populated...

. He earned a bachelor's degree
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...

 in mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...

 from Queens College in New York, and began working at Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...

.

New York Islanders

He is currently the majority owner of the New York Islanders
New York Islanders
The New York Islanders are a professional ice hockey team based in Uniondale, New York. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League...

 hockey franchise, of which he had become a part-owner in 2000. He later bought out the share of business partner Sanjay Kumar
Sanjay Kumar
Sanjay Kumar Sanjay Kumar Sanjay Kumar (Sanjay Kumar (Sanjay Kumar ([[hindi) (born [[Dhanbad,India]]) was the [[Chairman]] and [[CEO]] of [[CA, Inc.|Computer Associates International]] (now CA Technologies), until April 2004.-Emigration:...

 in 2004, and acquired the New York Dragons
New York Dragons
The New York Dragons were an Arena Football League team based in the New York metropolitan area. The team was founded in as the original incarnation of the Iowa Barnstormers, and relocated to New York in . They played in New York until 2008, when the league folded...

 Arena football
Arena football
Arena football is a variety of gridiron football played by the Arena Football League . It is a proprietary game, the rights to which are owned by Gridiron Enterprises, and is played indoors on a smaller field than American or Canadian outdoor football, resulting in a faster and higher-scoring game....

 franchise. He is the master developer of the Lighthouse, a property transformation of the Nassau Coliseum and surrounding 150 acre (0.607029 km²). The project will include a five-star hotel; condominiums; an athletic complex featuring four ice rinks, a basketball facility, and a state-of-the-art health club that will serve as the Islanders’ practice facility and also be open to the public. The development will also include a sports technology center, open-air plaza, and conference center. In May 2011, Mr. Wang, along with Nassau County started an 82-day campaign for a $400 million bond to fund a new arena for the Islanders, as their lease on the Coliseum ends in 2015. On August 1, 2011, the proposal was defeated by a margin of 57% to 43%.

Plainview Properties

He is also founder of Plainview Properties, a real estate firm which recently announced a major development in Plainview, New York
Plainview, New York
Plainview is a hamlet located on Long Island in the town of Oyster Bay, Nassau County, New York, USA. The population of the CDP as of 2010 was 26,217. The Plainview post office has the ZIP code 11803....

: Old Plainview - a traditional village combining townhouses, apartments, offices, restaurants, a Hyatt hotel and recreation space using “smart growth
Smart growth
Smart growth is an urban planning and transportation theory that concentrates growth in compact walkable urban centers to avoid sprawl and advocates compact, transit-oriented, walkable, bicycle-friendly land use, including neighborhood schools, complete streets, and mixed-use development with a...

” concepts. Residents of Plainview, headed by the group Concerned Citizens of Plainview-Old Bethpage, have resisted the project from the start.

Philanthropy

Wang is also well known for his philanthropic
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...

 works with such causes as the Make a Wish Foundation, Smile Train, and the National Center for Missing and Exploited Children
National Center for Missing and Exploited Children
The National Center for Missing and Exploited Children is a private, non-profit organization established in 1984 by the United States Congress.-Establishment and overview:...

, among others. His donation of over $50 million dollars to the State University of New York at Stony Brook
State University of New York at Stony Brook
The State University of New York at Stony Brook, also known as Stony Brook University, is a public research university located in Stony Brook, New York, on the North Shore of Long Island, about east of Manhattan....

 for the construction of the Charles B. Wang Center
Charles B. Wang Center
The Charles B. Wang Center, located at the State University of New York at Stony Brook in Stony Brook, New York, is dedicated to understanding Asian and American cultures, and the interactions of these cultures with other world cultures. The center was completed in 2002, and was designed by P.H....

 was the largest in history to a SUNY
State University of New York
The State University of New York, abbreviated SUNY , is a system of public institutions of higher education in New York, United States. It is the largest comprehensive system of universities, colleges, and community colleges in the United States, with a total enrollment of 465,000 students, plus...

 school.

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

In 1999, Wang and his brothers Anthony and Francis donated a new law school to China's Soochow University
Soochow University (Suzhou)
Soochow University , colloquially known in Chinese as Suda is a university in Suzhou, Jiangsu, China. The school is part of the Chinese Ministry of Education's Project 211, and a Jiangsu provincial key comprehensive university.-History:...

 in honor of their father Kenneth Wang and in celebration of the university's 100th anniversary.http://aa2sbu.aasquared.org/WangLawSoochowPHTuan/ In 2006, Wang invested his own money with Project Hope
Project Hope
Project Hope is a Chinese public service project organized by the China Youth Development Foundation and the Communist Youth League Central Committee. Started on October 30, 1989, it aims to bring schools into poverty-stricken rural areas of China, to help children whose families are too poor...

 to facilitate a project of developing ice hockey in China. Angela Ruggiero
Angela Ruggiero
Angela Marie Ruggiero is an American ice hockey defenseman. She is a member of the United States women's national ice hockey team. She is also the author of a memoir about her hockey experiences and a former contestant on the NBC reality show The Apprentice...

 was also involved with this project.

Controversy

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, although these tactics were legal in the State of New York. 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 to sign at the meeting or wished to have the contracts reviewed by a third party prior to signing were immediately fired.

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
Sanjay Kumar
Sanjay Kumar Sanjay Kumar Sanjay Kumar (Sanjay Kumar (Sanjay Kumar ([[hindi) (born [[Dhanbad,India]]) was the [[Chairman]] and [[CEO]] of [[CA, Inc.|Computer Associates International]] (now CA Technologies), until April 2004.-Emigration:...

. 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.

In 1998, Wang had initiated a $9 billion hostile tender offer for the shares of Computer Sciences Corporation
Computer Sciences Corporation
Computer Sciences Corporation is an American information technology and business services company headquartered in Falls Church, Virginia, USA...

 (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.

In 2000, a class-action lawsuit accused Wang, then president Sanjay Kumar
Sanjay Kumar
Sanjay Kumar Sanjay Kumar Sanjay Kumar (Sanjay Kumar (Sanjay Kumar ([[hindi) (born [[Dhanbad,India]]) was the [[Chairman]] and [[CEO]] of [[CA, Inc.|Computer Associates International]] (now CA Technologies), until April 2004.-Emigration:...

 and co-founder Russell Artzt
Russell Artzt
Russell M. Artzt Co-founded Computer Associates International, Inc. with Charles B. Wang. While Russ was working at the Electronic Laboratories, in the 1960s, of Columbia University he met Charles Wang. They became friends and later both joined Standard Data...

 of wrongly reporting more than $2.5 billion in revenue in its 1997, 1998, 1999, and 2000 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 $700 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. 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 successor Sanjay Kumar
Sanjay Kumar
Sanjay Kumar Sanjay Kumar Sanjay Kumar (Sanjay Kumar (Sanjay Kumar ([[hindi) (born [[Dhanbad,India]]) was the [[Chairman]] and [[CEO]] of [[CA, Inc.|Computer Associates International]] (now CA Technologies), until April 2004.-Emigration:...

 resigned as chairman and chief executive in April 2004, following an investigation into the accounting scandal which improperly reported revenue. A federal grand jury
Grand jury
A grand jury is a type of jury that determines whether a criminal indictment will issue. Currently, only the United States retains grand juries, although some other common law jurisdictions formerly employed them, and most other jurisdictions employ some other type of preliminary hearing...

 in Brooklyn indicted Kumar on fraud charges on September 22, 2004. http://money.cnn.com/2004/09/22/technology/kumar/index.htm?cnn=yes Kumar pled guilty to obstruction of justice and securities fraud charges on April 24, 2006. http://money.cnn.com/2006/04/24/technology/kumar/index.htm

New York Islanders

Wang has a willingness to spend money with the goal of making the Islanders competitive; previous ownership groups had not. He also has a reputation for making decisions that go against conventional wisdom. Occasionally these unorthodox decisions, such as hiring Ted Nolan
Ted Nolan
Theodore John Nolan is currently the Head Coach of Latvia men's national ice hockey team...

 as coach, receive praise. Others inspire criticism that Wang is being contrarian for its own sake and not following logic or reason (i.e. retaining Mike Milbury
Mike Milbury
Michael Milbury is an American sportscaster currently working as an ice hockey analyst for the New England Sports Network , Hockey Night in Canada and the NHL on NBC. He played twelve seasons in the National Hockey League , all of them as a defenseman for the Boston Bruins...

 as general manager
General manager
General manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, most commonly in the hospitality industry.-Generic usage:...

 of the Islanders despite numerous poor decisions and trades that were detrimental to the team).http://www.newsday.com/sports/columnists/ny-spmark0418,0,4457720.column?coll=ny-sports-columnists

Wang hired Neil Smith as the Islanders' general manager during the 2006 Stanley Cup Finals
2006 Stanley Cup Finals
The 2006 Stanley Cup Final was a best-of-seven playoff series that determined the National Hockey League champion for the 2005–06 season. As a culmination of the 2006 Stanley Cup playoffs, the Eastern Conference champion Carolina Hurricanes defeated the Western Conference champion Edmonton Oilers...

, but 40 days later Smith was fired due to his unwillingness to adhere to the "management by committee" style of Wang. According to Smith, every decision he made had to be passed before a committee which included Wang and certain other non-hockey executives. Wang then gave the job to Garth Snow
Garth Snow
Garth E. Snow is an American retired professional ice hockey goaltender and is currently the general manager for the New York Islanders of the National Hockey League.-Playing career:...

, who subsequently retired from his playing position as the team's backup goaltender. Wang said that "philosophical differences" were the basis for firing Smith. This series of personnel moves inspired a critical and incredulous reaction from hockey journalists.

On September 12, 2006, Wang and GM Snow signed goaltender Rick DiPietro
Rick DiPietro
Rick DiPietro, Jr. is an American professional ice hockey goaltender currently playing for the New York Islanders of the National Hockey League . He was the first overall selection by the Islanders in the 2000 NHL Entry Draft....

 to a 15-year, $67.5 million contract. The length of the deal, as well as Wang's signing of Alexei Yashin
Alexei Yashin
Alexei Valeryevich Yashin is a Russian professional ice hockey player. He is currently a member of CSKA Moscow of the Kontinental Hockey League...

 to a 10-year contract a few years before, have added to the controversy.

A Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...

 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.

Wang has stated that he regrets buying the team and would not do so if he could choose again.

Jeff Wilpon
Jeff Wilpon
Jeffrey Scott Wilpon is the COO of the New York Mets baseball team and the executive vice-president of Sterling Equities. Jeff is the son of New York Mets principal owner Fred Wilpon. Jeff and other Wilpon family members invested with Bernard Madoff's ponzi scheme that collapsed in 2008...

, the COO of Major League Baseball
Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...

's New York Mets
New York Mets
The New York Mets are a professional baseball team based in the borough of Queens in New York City, New York. They belong to Major League Baseball's National League East Division. One of baseball's first expansion teams, the Mets were founded in 1962 to replace New York's departed National League...

 discussed the possibility of buying the Islanders from Wang and moving them adjacent to the Mets' home ballpark, Citi Field in Flushing, Queens
Flushing, Queens
Flushing, founded in 1645, is a neighborhood in the north central part of the City of New York borough of Queens, east of Manhattan.Flushing was one of the first Dutch settlements on Long Island. Today, it is one of the largest and most diverse neighborhoods in New York City...

. There are also reports that businessman Nelson Peltz
Nelson Peltz
Nelson Peltz is an American businessman. He is a board director of Wendy's Group, the franchise parent of T.J. Cinnamons, Pasta Connection and Wendy's. Peltz is the former owner of Snapple.- Background :...

 wants to buy the Islanders from Wang and move them to the Barclays Center in Brooklyn
Brooklyn
Brooklyn is the most populous of New York City's five boroughs, with nearly 2.6 million residents, and the second-largest in area. Since 1896, Brooklyn has had the same boundaries as Kings County, which is now the most populous county in New York State and the second-most densely populated...

.

Awards and honors

On May 3, 2009, Wang was honored by the Los Angeles Chinese Historical Society of Southern California
Chinese Historical Society of Southern California
Chinese Historical Society of Southern California is located in Los Angeles Chinatown, at 415 Bernard Street. Its Chinatown Heritage & Visitors Center is open to the public...

 in "Celebrating Chinese Americans in Sports".

Long Island residence

Wang's Oyster Bay mansion is located near Sagamore Hill
Sagamore Hill
Sagamore Hill was the home of the 26th President of the United States Theodore Roosevelt from 1885 until his death in 1919. It is located at the end of Cove Neck Road in the Incorporated Village of Cove Neck, New York, on Long Island, 25 miles east of Manhattan. Sagamore Hill is located within...

, President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....

 Theodore Roosevelt's
Theodore Roosevelt
Theodore "Teddy" Roosevelt was the 26th President of the United States . He is noted for his exuberant personality, range of interests and achievements, and his leadership of the Progressive Movement, as well as his "cowboy" persona and robust masculinity...

 home.

External links



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