¶ … Howard Hughes Medical Institute
Mission Statement on Howard Hughes Medical Institute
Sometimes, there are those situations that are so bizarre, they make you wonder. The life of Howard Hughes was no different, as he would go from a Hollywood playboy to recluse. One of the last actions that he would take before disappearing was to establish the Howard Hughes Medical Institute (HHMI). Like the life of the reclusive billionaire, HHMI was started as tax shelter for Hughes. What happened was, in 1953, Howard was becoming increasingly withdrawn. The Air Force wanted him to appoint someone (of their choosing) to run his company (Hughes Aircraft). The reason why was because his organization played a vital role, in supplying the Air Force with guidance systems used in: rockets, missiles and planes. They gave him 90 day to comply with their request or lose all government contracts. Fearing a government backlash for not complying, Hughes established HHMI as a charity to protect the company and his personal fortune. At which point, he refused to comply with requests of the government and would eventually disappear in the Bahamas until his death. This would establish the basic foundation of HHMI, as it would often be seen as a shelter for the Howard Hughes fortune. (Leung, 2004)
In 1976, after Hughes death, the IRS tried to claim that the charity was a front for hiding the personal fortune the billionaire. After a lengthy court battle, it was determined that HHMI was a legitimate charity. Given the fact that Hughes did not have a will or an heir, meant that his personal fortune and the income (from his estate) would go to this charity. ("Developing New Knowledge," 2010) As a result, HHMI would quickly begin to focus on funding and supporting a number of different medical research projects. Some of the most notable would include: funding a variety of ground breaking research from stem cell therapy to cancer; studying the genes that are responsible for cystic fibrosis / colon cancer / muscular dystrophy; identifying drugs that can be used to treat leukemia and supporting research for spinal cord injuries / HIV / AIDS. This is significant, because it shows how the funding and research provided by HHMI is establishing, scientific breakthroughs that are having a profound impact on the lives of millions of people. Evidence of this can seen with the fact that institute is funding 330 investigators in the United States alone (to include seven Nobel Prize winners). At the same time, they are funding research projects in a number of countries around the world such as: the former Soviet Union and South Africa just to name a few. This is important, because it shows how the fortune of Howard Hughes is being used, to benefit millions of people (who are seeking cures for a variety of diseases). (Leung, 2004)
Discuss some of the benefits and pitfalls of planning?
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