Intel drops support for Science Talent Search, a prestigious STEM competition

[n2doc]

For years, semiconductor giant Intel has supported the Science Talent Search, a top-flight STEM—science, technology, engineering, and mathematics—competition for American high school students.

That sponsorship has ended, according to a New York Times report.

The contest has been in place since 1942, backed by Westinghouse. (Intel took over in 1998.) The event is known for its opportunity—40 young finalists in a pool of about 1,800 get to visit Washington to present original research to top veteran scientists—and its results. Among its past competitors include eight Nobel Prize winners, leaders of industry, university professors, and, of course, many prominent scientists.

According to the Times, the sponsorship costs Intel very little—about $6 million per year, close to a rounding error on the company’s almost $56 billion in 2014 revenue. It’s unclear why the company would want to drop its support, and the competition remains in high regard. (Intel has not publicly commented on the report; a Fortune inquiry is pending.) The price of Intel shares has been sliding for most of this calendar year after reaching highs not seen since the 2000 dotcom bubble.

more
http://fortune.com/2015/09/09/intel-science-talent-search-support/

Incredibly stupid of them.

[bvf]

1. Agreed, a very stupid move.

I wonder how much the recent management shake-up had to do with this boneheaded decision.


http://newsroom.intel.com/community/intel_newsroom/blog/2015/07/02/intel-announces-leadership-changes

[packman]

2. Needed that "extra" 6 million

for executive bonus time. You know they have to trim the fat, find waste and look for any loose money to pay out those golden parachutes which are looming on the horizon for a company on the rails.