CONTACT: SHAWN PRESLEY
100 Old Public Library
Iowa City IA 52242
(319) 384-0011; fax (319) 384-0024
Ted Waitt honored by UI College of Business Administration
IOWA CITY, Iowa -- Ted Waitt, the founder of Gateway 2000 Inc., will be presented
the annual Iowa Business Leadership Award by the University of Iowa College
of Business Administration Friday, April 4 at the college's Iowa Business
A former student of the University of Iowa's business management program,
Waitt co-founded a company that has grown to be an international personal
computer operation based in North Sioux City, S.D., on the borders of Iowa
and Nebraska. The award will be presented at 7:15 p.m. in the Main Lounge
of the Iowa Memorial Union.
Waitt's career in the computer industry had humble beginnings. Shortly after
Waitt dropped out of the UI in 1984, he and a friend began their business
by borrowing $10,000 from Waitt's grandmother. What is today a global giant
began as a two-man operation. Gateway 2000 is now the 10th-largest computer
maker in the world, and Waitt's estimated worth is $1.7 billion.
The Iowa Business Leadership Award was established in 1980 by C. Oscar Schmidt,
president of The Cincinnati Butchers' Supply Company of Cincinnati, Ohio.
The award was named in honor of Schmidt's father to honor an outstanding Iowa
business leader and to provide a vehicle for students and faculty to interact
with successful career men and women.
Held annually, the Iowa Business Leadership Banquet is hosted by the College
of Business to express thanks to the people and organizations that support
it and to recognize individuals who have demonstrated outstanding performance
in the world of commerce in the belief that business leadership is essential
to the economic progress of Iowa and the nation.