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Wednesday, 06 October 2010 12:22

Otellini calls for more tech investments in US

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More innovation needed to stay on top
Intel CEO Paul Otellini addressed the controversial Council on Foreign Relations on Tuesday and called for policy makers to create a new culture of investment in the US. Otellini believes that the state should offer tax breaks and additional incentives in order to promote high-tech investments in the land of the free.

Otellini said that that the US was in the best position to create new innovations necessary for economic growth and that the opportunity had to be seized in order to maintain technological and economic competitiveness.

He pointed out that the construction of a single semi-conductor fab usually costs about $1 billion more in the US than in other countries that offer generous incentives for investors. The total cost of such plants is around $4 billion. Despite this, Otellini said that Intel plans to keep building new plants in the US, although one fifth of its plants were already overseas.

Although he said he would not talk about politics, Otellini also used the address to criticize the Obama administration. He believes that the current administration lacks enough business experts and he pointed out that there were no CEOs in the cabinet.

Otellini has made similar bleak predictions in the past, mainly at gatherings where secret handshakes are the norm.

More here.
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-14 #1 JAB Creations 2010-10-06 12:41
Communists don't want people in America or Europe to have good paying tech jobs in their mob style enforced outsourcing to Asia. Moving the manufacturing capabilities of a successful country to poor countries is what kills a successful country once their currency is destroyed in order to prevent our countries from recovering, communism 101. Or in a communist's view successful people should be punished so commies can rule a shattered world.

As far as Hussein Obama is concerned the communist CEO's (e.g. Carl Icahn, Mark Zuckerberg, Sergey M. Brin, Lawrence E. Page as a few examples) are too busy making a fast buck while removing our freedoms, enforcing monopolies, and minimizing the number of channels through which info flows (Yahoo is now a Lycos for Bing).
+3 #2 AustinHWEngineer 2010-10-06 14:12
I have a hard time taking Otellini seriously since his own company has been outsourcing people left and right to bangalore (and other countries.) If he's going to make bold statements, he should have backed it up with actions at INTC.
0 #3 Bl0bb3r 2010-10-06 16:32
JAB, take a step back and replace the word "comunist" and its derivatives with "capitalist", since that's what you're actually talking about... and that's the term used in real life!

And stop pretending you know about COMMUNism! That's getting pathetic already! There's nothing commone in what corporations do!

As to what the slimebag otelini has to say, it's clear to me that he wants to consolidate the earnings of the company by slashing out the taxes imposed by the US. I, even as a non-US citizen, say f%#@ him!
0 #4 redisnidma 2010-10-06 23:14
What a hypocrite. After investing a few billions in a new fab in Israel, why is he bringing this up now?
0 #5 hoohoo 2010-10-07 06:42
Oooohhhh, the Yanks have been outsourcing their entire economy for 30-odd years and now they figure out that the practice might have a downside!

Can we say 'long term'? No we can't!
0 #6 Dave_Tangeir 2010-10-07 07:38
Quoting AustinHWEnginee r:
I have a hard time taking Otellini seriously since his own company has been outsourcing people left and right to bangalore (and other countries.) If he's going to make bold statements, he should have backed it up with actions at INTC.

You mean something like this:

"As a global company, we have made a conscious decision to expand these factories here because we believe that investing in the future of American discovery isn't just the right thing to do," Otellini said, "it is an essential business decision if we want the United States to continue to be the engine of new ideas and technical leadership."
-6 #7 JAB Creations 2010-10-07 15:03
Bl0bb3r is clearly either a commie or a fool. Capitalism is not self-destructive, communism says publicly that it wants to help the underprivileged though it works to bring down those who already are working hard. All those people I pointed out are hard core in-action communists. Communism is about infiltration though it's easy to pick them out because most communists are jews who identify and help each other out based mainly on their surnames.

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