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Print 51 comment(s) - last by The Raven.. on Feb 24 at 2:54 PM


So is this a "real" position or one of those "will.i.am" positions?   (Source: Reuters)
Otellini will give Obama a helping hand on getting Americans back to work

Intel Corp.'s chief executive Paul Otellini has been tapped by U.S. President Barack Obama to be a member of the President's Council on Jobs and Competitiveness.  General Electric chief executive Jeffrey Immelt chairs the panel.  Its goal is to put Americans back to work, post recession and to promote skilled and professional jobs.

The White House says that it will name more board members in coming weeks.  President Obama, following the severe recession of 2008 and 2009, first created the board in 2009.

President Obama is currently wrapping up a West Coast trip, in which he dined with the likes of Steve Jobs (Apple), Mark Zuckerberg (Facebook), and Eric Schmidt (Google).  Today he is touring Intel's Hillsboro, Oregon facility, accompanied by Mr. Otellini.

Mr. Otellini is only Intel's fifth chief executive.  He has been with the company for over three decades, having joined in 1974.  He slowly climbed the ranks, gaining notice as the general manager who supervised the design of the first Pentium processors in 1993.  From there he became executive vice president and general manager of the Intel Architecture Group, supervising chipset and processor development.

In 2002 he was elected to the company's board of directors and became president and chief operating officer.  In 2005, he replaced Craig Barret as chief executive.

During his reign as chief executive he sold Apple on the idea of using Intel processors and oversaw the launch of the highly successful Core series of processors.  Despite these successes, he's had to make cuts, committing to the largest series of layoffs in the company's history during the downturn.

Now he's going to be looking to put Americans back to work.



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RE: 22nm fab in Israel
By The Raven on 2/22/2011 11:48:24 AM , Rating: 2
At first I thought we agreed more than disagreed but now I'm not so sure. I don't have time to reply to all of that right now but for now let me pick the low hanging fruit...
quote:
I'd start with CEOs. Show me a CEO who's job and responsibilites are 10X more important than the US president. 100X. 1000X. Now even better tell me why sport figures get that kind of money.

Because they are worth it to the people who are paying their salaries. The presidency is irrelevant because it is public service, and as a public servant he should get paid less than he would as a private citizen for doing the same amount of work. On the other hand, if we think he is overpaid then we as a democracy can adjust that. The private world is not a democracy.

If some company finds that if they pay a guy 1 billion dollars to make 3 billion then that is up to them. It is also up to then to pay a guy 1 billion to lose 3 billion.
If a company always made the right decision this wouldn't even be a question, but there are no perfect people and there are no perfect companies. So they wouldn't be looking at a sure thing when they make these decisions would they?

I will use sports figures for the second part of the fact that these people are not factualy (note the emphasis) over paid.
Owners pay the star players as much as they do because they think they will get a healthy return on their investment when they have a winning season and people start watching the games on TV, buying tix, merch, etc. And I guess they usually do (except in the case of Barry Zito lol), OR ELSE WHY WOULD THEY DO IT?

So the point is, if you think someone in the private sector is overpaid, stop buing their products, watching their games, buying their t-shirts and the salaries will start to fall. That is how it works and that is a fact nobody can argue with. As grunts (as I am) we can protest and demand a lower salary for our CEO, but then we give up our right to complain when we (along with thaousands of others) are out of a job because we gambled on the most important person on the payroll.

Nobody is forcing these companies to pay so much except for their competition. And guess who else's salaries are dictated by competition... grunts like me. Sure my CEO could skimp on salaries, but then I would be working for his competitor wouldn't I. I also would likely not be happy about my situation and put out crappy work. But they keep me happy and I do just what they want me to do as we agreed. (I work for a subsidiary of Toyota BTW) We have been through the Great Recession, Toyota recalls and scandals, and increased regulation by the gov't and we still haven't fired any noticeable amount of people and no one has had wages or salaries cut noticeably. And to top it off, there is no union in sight.

Why do they treat us so well? Because they know it is stupid to do otherwise. Are they perfect? No. And there are things I think I would change if I were CEO. But it is not my decision to pick myself as CEO so there you have it.
If they start running this place like Enron, Lehman or whoever, I would be out of here and go with someone who deals honestly with their employees. You get paid what you are worth in a truly free market and there are no bones about it.

You say these people get paid too much. How much should they be paid and how do you determine that? With a salary czar of some sort? Once you start doing homework to figure that out you will discover that their salaries are just fine.


RE: 22nm fab in Israel
By YashBudini on 2/22/2011 11:55:23 AM , Rating: 2
quote:
Because they are worth it to the people who are paying their salaries.


Well congratulations, you discovered why everybody is paid what they paid, including the ones in question and not in question.


RE: 22nm fab in Israel
By The Raven on 2/22/2011 12:21:43 PM , Rating: 2
You're the one who asked. Not me. Don't insult yourself.


RE: 22nm fab in Israel
By YashBudini on 2/22/2011 12:30:41 PM , Rating: 2
quote:
But to your point of higher wages for professionals... why do you think they need higher salaries?


?

Not that I ever got an answer but....


RE: 22nm fab in Israel
By The Raven on 2/24/2011 10:50:57 AM , Rating: 2
quote:
why do you think they need higher salaries? Maybe because the cost of goods is artificially inflated due to minimum wage and other regulatory restrictions. Not maybe. Definitely.

You split this statement of mine up and then started arguing with it. I think that is where you got lost on my response.
It was a direct response to this comment of yours...
quote:
The $7.50/hour US worker is replaced by a 75 cents/hour worker, yeah that's a savings, but the $75/hour engineer is also outsourced for the $75/day engineer.

I find it unbelievable that you don't see the parallel since you are the one who said it and used the same 7-5 number combo on your examples.

I hope I made myself clear that time.


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