Intel backdoor to White House questioned

Bush advisor's $100k in 'zilla shares looks bad

  • alert
  • submit to reddit

Senior Bush advisor Karl Rove appears to have been in the loop to some extent regarding Bush Administration approval of the merger of Dutch semiconductor lithography outfit ASML and US outfit Silicon Valley Group (SVG), which Intel strongly recommended, whilst in possession of over $100,000 worth of Intel shares, the Associated Press reports.

The merger, which has since been approved (svg.com is already re-directing to ASML), will create the world's largest supplier of semiconductor lithography equipment, chiefly for its principal consumer, Intel.

Rove met with Intel lobbyist Jim Jarrett and its CEO Craig Barrett some time ago so that the men could pitch the proposed deal; but according to the official line, he referred them to other, presumably disinterested, members of the Administration, and left it at that.

Intel says it was shocked, shocked, to learn that Rove was a shareholder at the time.

The White House says Rove "does not recall" ever having brought the matter to the attention of the Knucklehead-in-Chief.

Intel lobbyists also had dealings with US Secretary of Defense Donald Rumsfeld, Commerce Secretary Donald Evans and Treasury Secretary Paul O'Neill, who were instrumental in approving the deal.

Unfortunately, Rove was CC'ed in correspondence from Intel regarding its pet merger right up to the time it was approved, the AP claims.

While Rove might well have behaved himself and remained mute on the topic, the correspondence creates an unfortunate appearance for a President straining to distance himself from the spectacular appearance problems of his immediate predecessor.

Interestingly, Rove's Intel shares fell by about twenty per cent during his early tenure in the White House, but had mostly recovered before he finally sold them last Thursday.

If something like this had involved a senior Clinton advisor, the Republicans would already be bellowing in the halls of Congress that a special prosecutor needs to be nominated to look into it at great public expense.

Thank heaven they've got their boy in the White House now, and have since cancelled that particular circus. ®


Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.