Education a passion for '08 commencement speaker
Corazon Riley
Issue date: 4/24/08 Section: News
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Lokey, 81, started Business Wire in 1961, a global, commercial news wire serving investor relations and public relations professionals. After careers in both journalism and public relations, he saw the need for a wire service to serve both the media and public relations communities.
Lokey was born in Oregon and graduated from Stanford University with a degree in journalism. He worked for the United Press in Portland as a wire reporter. From here, he moved to the Longview Daily News in Washington.
Lokey shifted from journalism to public relations when he worked for General Electric as a news bureau supervisor and Shell Development Co. as a public relations representative.
Lokey sold Business Wire to Warren Buffett's Berkshire Hathaway in 2006. Today, he spends time at his Atherton home with his two dogs, a 110-lb. yellow Lab and a 70-lb. Golden Retriever. He spends a majority of his time playing the market.
"It's like another occupation," said Lokey.
Lokey noted that it is a challenge to make money today because of the negative performance of the market. He wants to add to his funds so he can continue to support education, something that he is passionate about.
He said that he plans to make education his focus. He joked that he wants to invest his money in education for the next 36 years, making him 117.
"The satisfaction I get from giving back is immense," said Lokey.
Lokey's interest in education stems from the superior education he received as a child. He recently funded a new library at Santa Clara University.
"Twenty-five million dollars to a new library is better than a new jet plane," said Lokey. "I drive a Toyota Prius, an economy car. I don't need luxury."
Currently, he has allocated money for a science center at the University of Oregon, a stem cell research lab at Stanford, a business center at Mills College, and a high school and university in Israel.
"What you take out of the ground you need to put back in," said Lokey.
Lokey is not a stranger to giving speeches. He said he once gave a speech and his cell phone rang. He answered, saying, "Don't bother me, I'm giving a speech."
Lokey, a Bay Area resident for more than 40 years, acknowledged the progress NDNU has made while he has lived in the Bay Area.
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