p.s. if you missed it, there was a great cover story in BusinessWeek this summer with another former Intel CEO Andy Grove (see here) on the problems we now have by gutting our manufacturing base. It was an excellent piece, even if one does not agree with every solution.
5 minute video
When former Intel CEO Craig Barrett joined us earlier this week to talk about President Obama's education initiatives, we asked him about Otellini's comments, which fueled criticism that President Obama is anti-business.
"I don't think Paul Otellini said he's anti-business: he said the admin is having trouble understanding the needs of business, especially in this difficult time," Barrett says.
To that point, Otellini also said the Obama administration is "flummoxed by their experiment in Keynesian economics not working."
A Bipartisan Failure
Without speaking for his successor, Barrett was quick to point out America's problems didn't start with President Obama. "Both sides have done exactly the same thing, which is not much," to address what Barrett says are the three things necessary for countries to compete in the 21st Century:
- -- A good education system. (Barrett, who is on the board of the President “Change the Equation” initiative talks about those challenges here.)
- -- Investment in R&D.
- -- The right environment for good ideas to become viable, i.e. immigration policy, protection for intellectual property and tax policy.
"If you want to be competitive you've got the have education, research and development and tax policy to make the U.S. the best place in the world to invest. None of that is happening - none of that," he laments. "Meanwhile, the rest of the world are in their vehicles looking through the windshield."