On “Breaking Bad†on Sunday night, Charlie Rose referred to a column by Andrew Ross Sorkin in The New York Times. Here is an excerpt from that fictional column:
It may be charitable to describe Elliott and Gretchen Schwartz as philanthropists.
Last week, the founders of Gray Matter Technologies gave a $28 million grant to create a drug abuse treatment center throughout the Southwest. The family, which is said to be worth more than $1 billion â€" Gray Matter’s market value is $2.16 billion â€" was heralded by advocates of drug control and treatment throughout the country. In Washington, the White House’s Office of National Drug Control Policy said in a statement that the Schwartzes are among “the next generation of great American philanthropists tackling one of the biggest epidemics confronting our country: illicit drugs.â€
Maybe it is cynical to suggest, but the timing and backstory of the grant is raising red flags among some investors on Wall Street and prompting some to ask: Is the donation a publicity stunt meant to mask troubling news about the company?
Little known except to a small cadre of industry insiders, the Schwartzes have been scrambling in recent weeks to keep a long-running secret from being revealed. Gray Matter’s stock has sunk over the last week as speculation has mounted that the company could be tied to a drug kingpin in Albuquerque who has made national headlines: Walter White, the former chemistry teacher turned international methamphetamine dealer known as “Heisenberg.â€
According to people close to the company, Mr. White was a co-founder of Gray Matter and was a former college sweetheart of Mrs. Schwartz. The company’s name - Gray Matter - was a mix of the Schwartz name, which is German for “black†and Mr. White’s name, hence “gray.â€
It remains unclear whether the Securities and Exchange Commission will investigate, but given the prominent nature of Mr. White and Gray Matter, which until now was considered a high-flier on Wall Street, it would be surprising if an inquiry were not opened. Mr. Schwartz, who won a Nobel prize for his scientific research, has parlayed that success into the celebrity spotlight, hobnobbing with A-listers. He was recently given as a gift a Stratocaster guitar autographed by Eric Clapton.
While Mr. White is said to have had a falling out with the Schwartzes, people briefed on the matter said, the two families had been in contact recently. A person close to both families said Mr. White and his wife were seen at the Schwartzes’ estate for Mr. Schwartz’s birthday party. Mrs. Schwartz was also seen at the White’s home. The Schwartzes are said to have offered to rehire Mr. White, who declined the opportunity, these people said. Mr. White had sold his shares years before the company went public to the Schwartzes for $5,000.
A spokesman for Gray Matter said, “We don’t comment on rumors and speculation.â€
Mr. White could not be reached for comment.
Yes, this is a fictional parody, in case there is any doubt!
