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Qualcomm wants to be loved

If Qualcomm wanted to be loved, or even recognized in town, it should have taken steps in that direction years ago. Shortly prior to the dot-com market bust, Qualcomm stock went on a tear and many of its employees found their stock so valuable that they were millionaires. In fact, the term "Qualcomm millionaire" was bandied about town for a while when those fortunate folks went out to spend their new-found fortunes. At that time, the company was the local kid company that made good, and was well-thought-of for a time. A major factor in the Qualcomm success story was the Jacobs family, and how munificently they benefited from the stock run up. Founder Irwin Jacobs and his wife and his sons became major philanthropists. The elder Jacobs made a huge gift to the San Diego Symphony, reported at in excess of $100 million, that should keep that orchestra in fine financial shape into perpetuity. They also made massive grants to other cultural and educational institutions locally. One coup was to have UCSD name its engineering school the Jacobs school. That cost many millions. But while that was going on, the company became a cut-throat competitor and was most aggressive in its licensing practices, and also turned secretive. While it is now necessary to separate the company from the Jacobs family, Irwin and Paul have not done a good job of being esteemed citizens. Irwin has a plan to remodel Balboa Park that isn't liked by many park users, and despite judicial reversals, the plan may still be alive. His attitude came through as "If I'm going to give $25 million to the park makeover, you'll use my plan, or no dough." Then he and his sons and some other minions at Qualcomm headed into politics, with most noteworthy effort trying to get political party jumper Nathan Fletcher elected mayor. When that didn't work out, they started supporting the current mayor with donations. Money buys power, and that's what they are doing. Not a pretty picture. Worse yet for the company is its constant complaints of not being able to find enough qualified employees, even though they refuse to interview hundreds of grads of the Jacobs school. Rather they are a large-scale abuser of the H1-b visa system that floods the area with thousands of foreigners and their families, while keeping pay levels depressed. Oh, and Qualcomm makes heavy use of temps to get work done, rather than hiring them as real employees with benefits and job security. So, if Qualcomm wants to be loved, it needs to stop getting bad publicity with its license holders, unfavorable court decisions and fines in foreign courts, reform its employment practices, and prevail upon the Jacobs family to stop sticking its nose into local politics. Try those things for, oh, five years, and then revisit the matter. Doing right things right would go a very long way to polish the reputation of Qualcomm.
— October 26, 2017 3 p.m.

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