'We're In the Venture Philanthrophy Business'

Los Angeles, August 28, 2009, The Wall Street Journal — "The unions no longer control the education agenda of the Democratic Party," billionaire philanthropist Eli Broad tells me. I'd say that's debatable. But to the extent it's true, the party has Mr. Broad, a ­self-described moderate Democrat, to thank. The founder of two Fortune 500 companies (real estate giant Kaufman & Broad, now KB Home, and financial service firm SunAmerica, purchased by AIG in 1999) he is devoting his retirement years to philanthropy—primarily K-12 education reform.