UCI, UCLA Engineering Schools’ Namesake Being Investigated by the SEC

Posted on July 23, 2008
Filed Under News, The Daily Prereq | By Nikki Martinez

It doesn’t take a genius to figure out how to get a university building named after you or a loved one - either do something important or donate a truckload of money to the school. Getting your name removed from a building, well, that’s when the decision process gets more muddled. Henry Samueli, the namesake of both UC Irvine’s and UCLA’s engineering schools, may get the honor revoked after lying to the Securities and Exchange Commission about stock-option backdating. Samueli donated a cool $30 mil to UCLA’s engineering school, which got his name on the front of the building.

His company, Broadcom, was involved in a stock-option scandal, which he finally admitted to being involved with. Unsurprisingly, UCLA’s chancellor is still calling Samueli a friend and a valued member of the Bruin family, despite his SEC troubles. The University of California is currently reviewing the case. The UC Board has a tough decision to make: risk alienating a donor, or turn a blind eye to what’s probably a harmless corporate boo-boo. Seeing as how UCI and UCLA are arguably two of the most technologically cutting-edge UCs, it may be detrimental to their rep to shun a big name. Plus having to physically change the name is such a bother.

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