Ed Richardson '90 Talks Magnetic Materials with 60 Minutes

March 22, 2015

"How did China corner the market on a critical resource nearly every electronic device we use depends on?" asks a report aired by 60 Minutes tonight.  Among the experts interviewed in the report by Leslie Stahl is Ed Richardson, president of the U.S. Magnetic Materials Association and 1990 graduate of DePauw University.

"Rare earth elements have become critical components in everything from the phones we carry to the cars we drive to the F-35 jet fighter our military says will keep us superior on the battlefield," notes a synopsis of the CBS News segment. "But an industry born in the U.S. decades ago has gradually shifted to China, where nearly 90 percent of the crucial metals are mined and processed for the rest of the world. Lesley Stahl reports on this troubling trend and the latest news that the biggest rare earths mine and processing facility outside China is in financial trouble."

Access the piece, which aired nationally earlier this evening, here.

Ed Richardson is also vice president of sales and marketing for Thomas & Skinner Inc.  He was an economics and psychology major and Management Fellow as an undergraduate and earned an M.B.A. from Indiana University's Kelley School of Business.

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