Charles Wang's Messy Second Act
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New York entrepreneur Charles B. Wang, who made his mark in software, is busy reinventing himself as a real estate tycoon. He's pushing a mammoth $3.8 billion mixed-use development in suburban Hempstead, Long Island, surrounding the Nassau Coliseum, where his New York Islanders hockey team plays.
Since the project will include a fix-up of the Coliseum, which the plain-spoken Wang calls a "dump," it has won the backing of pols, including Senator Charles Schumer (D-N.Y.). But Wang is running into resistance from local leaders over concerns that the 150-acre development will adversely affect traffic and the environment.