Never let facts get in the way of a good story. The build-up is great (VP's car, elementary school, military base) and the punchline is funny, but it's just a bit too perfect ("and what's above us?", cue clouds). Even the name Bob sounds like it's been chosen for comedy.
It's clearly a mostly true story that's been refined and polished over the years.
Was curious so I looked it up - Jose Antonio Vargas Elementary School is right by Moffet Field. The school also abuts an industrial park that fits the description.
One of the current tenants there is Volvo Innovation Lab, which I imagine does laser testing. I have no idea if buildings need certain certifications for working with lasers, so I mention that tidbit.
As well, that office park has 16 buildings in it, by my count.
Also, the guy had enough happen to him. He doesn't need his actual name put in the story. One might hope that in the intervening 25 years he would have improved, especially after such an expensive lesson.
It's clearly a mostly true story that's been refined and polished over the years.