I believe that a newspaper is a great civic asset and that ownership is best in the hands of foundations or wealthy families that want to own it for reasons other than maximizing profits. I also believe newspapers should remain in local hands.

To me, money is a means to do good. I reached a point in my life where I had enjoyed tremendous business success that afforded my family everything we could possibly want. My wife and I then decided that we could use our wealth to make a difference. So we created the Broad Foundations to do four things: to improve urban public education, to support innovative scientific and medical research, to foster art appreciation for audiences worldwide and to support civic initiatives in Los Angeles.

I can't think of another enterprise other than being a homeowner that can't have its debt restructured in bankruptcy. Corporations can but a homeowner can't? Now with securitization the homeowner can't go to the owner of the loan and work things out.

Without a doubt, stem cell research will lead to the dramatic improvement in the human condition and will benefit millions of people.

There is no substitute for knowledge. To this day, I read three newspapers a day. It is impossible to read a paper without being exposed to ideas. And ideas - more than money - are the real currency for success.

A real collector does not sell.

At a time when all the other builders were selling homes with basements but without carports, we would sell homes without basements and with carports. This allowed us to provide a more appealing product at a lower price. In other words, we felt we would be giving customers greater value.