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 "" 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 2/24/2011 2:54:44 PM , Rating: 2
(Now I have time to respond lol...)
If you look at economics 101 capitalism works when both parties feel they've gotten a fair deal. It doesn't work when 1 party tries to screw the other guy. Obviously this happens frequently.

Yes, when companies don't like what price they would have to pay here in the US, they go elsewhere. What is the point of this comment?

And no I haven't seen that movie, but I do have an international business degree so I think I have at least a basic understanding of how this all works. Not to mention as someone who works for a living in the non-union private sector I see how wages are dictated in the semi-free market that we call America. But what does the bad business you mention in the movie have to do with our discussion? I'm not getting that.
Well actually that's mostly true of only Americans, who seem to think that paying taxes allows them to be oblivious to government and political events, and that they will be left alone according.
This is laughable (moreso to your point) since most Americans don't even know how much they pay in tax let alone whether they pay any at all.
I think those people you are referring to think that the gov't magically produces the money to save them from things such as Katrina or the Taliban. Or they just think that the rich guys will take care of everything not realizing where the rich guy is getting his money. They just demand things and assume that it will all be ok because we are a wealthy nation and forget how we got this way.
Now why would you say that? Didn't this family get all upset about Nike and child labor? Yeah I know, for all of 15 minutes. Mostly they are not upset though is because our press chooses not to publish such stories. You need to ask them why. I'm no mind reader. You learned about Foxconn here, no mainstream media, right?

Umm...there is no end to the "attrocities" that Wal-Mart has committed upon mankind according to the press. Though I am no big box fan, the way Wal-Mart and McD's are tossed around disgusts me. They have their faults like any companies but because they are big (because we as citizens made them that way) they get picked on.
Well as usual in this economy equation you leave out crime. When people can't make ends meet they do bad things, these could be factored into the cost of goods. The alternative is to raise taxes on everyone to cover such costs. Economists argue many goods are not fairly priced, because prices don't include the cost to society after the item is disposed of. I'm not taking a stand on that, but is it a valid point?
That is a valid point, but where you say I leave out crime, you leave out gov't welfare programs and charities. Who in the US can't make ends meet? Really? We have programs that you can live on until you die at the age of 90. Not to mention charities. Don't you know there are people who say they can't live on minimum. I find that hard to believe because I used to be there...comfortably (in CA of all places too). How about the illegal migrant workers who work for less than minimum? I guess you can't get by on that because they have special magical powers that keep them alive because no one could afford to live on that. Well you know what, tell them to go back to Mexico where they make less or don't have a job at all. They will be better off? No. They should be allowed to work here legally at whatever the going rate is whether or not it is above or below the artificial number that we call minimum wage.
Otherwise they will just be doing the same thing in Mexico for less or working for the drug lords because that is the only work available.

That is what I'm talking about when I say we are ok with it until it is happening in our backyard.

But I guess I would like to know if you understand this:
If it takes $2/hr to get a guy to grind flour and he pays $1 to buy that flour, how much would the flour cost if we made his boss pay him $3/hr?
Assuming that he is the only input to production of said flour, the flour would now cost $1.33 (or a 33% price increase).

Is the grinder better off now that the gov't mandated the wage increase? No. But now the dollar is worth less that it was before and the goods are temporarily (reletively) more expensive for those who do not get the 'raise' (like the unemployed).

But all the workers on minimum feel good about it and decide to continuously vote for the democrats who don't understand economics and want to continuously raise the MW or the republicans who don't want people 'taking their jobs'. All the while they go to Wal-Mart and complain about how expensive everything it while simultaneously complain about how all of this stuff is made in China/Mexico/Thailand because they have lower labor costs.

“So far we have not seen a single Android device that does not infringe on our patents." -- Microsoft General Counsel Brad Smith

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