Feeds

Obama taps Silicon Valley bigwigs for economic advisory board

Oracle prez, famed VC get nod

The Essential Guide to IT Transformation

President Obama tapped two Silicon Valley notables today as members of his new Economic Recovery Advisory Board.

The 15-member board is charged with advising Obama on decisions about the US economy and announced to spur Congress into passing legislation for his $700bn+ stimulus spending package.

Obama said he created a panel of outside advisers to enlist voices from "beyond the Washington echo chamber."

Among his picks is Charles Phillips, president of Oracle and John Doerr, a Silicon Valley venture capitalist who serves on the boards of Google, Amazon, and Symantec.

"We will meet regularly so that I can hear different ideas and sharpen my own, and seek counsel that is candid and informed by the wider world."

The board is headed by Paul Volcker, the former US Federal Reserve chairman and one of Obama's top economic advisers.

"We're also going to count on these men and women to serve as additional eyes and ears for me as we work to reverse this downturn," said Obama. "Many of them have a ground-level view of the changes that are taking place."

Phillips became president of Oracle in May 2003 and was previously with (the then-investment bank and now-bank holding company), Morgan Stanley.

Doerr is a venture capitalist who's backed quite a few big names of Silicon Valley in their early years. Like Compaq, Sun Microsystems, Intuit, Netscape, and Amazon. He's also been a major advocate for carbon trading and green tech causes.

Other names on the board include Martin Feldstein, professor of economics at Harvard University; Jeffery Immelt, CEO of General Electric; and Robert Wolf, CEO of investment bank UBS Group Americas.

In his press conference today, Obama cited a US Labor Department report that the US lost 598,000 jobs in January, saying delays from Congress in passing the stimulus package is "inexcusable and irresponsible."

Apparently it worked, as CNN reports a tentative agreement for the stimulus package has been reached. A vote on the bill is expected sometime Friday night. ®

Boost IT visibility and business value

More from The Register

next story
UK gov rushes through emergency law on data retention
Cameron: 'The consequences of not acting are grave'
Judge says there's no such thing as a 'Patent Troll'
Apple banned from calling litigant a 'Bounty hunter', 'corporate shell' or 'Troll'
NSA dragnet mostly slurped innocents' traffic
Latest Snowden leak suggests indiscriminate retention
ISPs haul GCHQ into COURT over dragnet interwebs snooping
'Exploitation of network infrastructure is unlawful,' says co-claimant
Siri, did we just take a hit in that voice-recog patent fight?
Yes, Apple, you did, says this Beijing court
Report: UK.gov wants to legislate on comms data BEFORE next election
Ministerial alarm sets in over EU court's data retention ruling
Amazon sues former employee who took Google cloud job
Alleges breach of non-compete clause in contract
Russian law will force citizens' personal data to be stored locally
Won't someone think of the software-as-a-service startups?
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Eight steps to building an HP BladeSystem
Building your ideal BladeSystem infrastructure solution begins with eight simple steps, outlined in this whitepaper.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.
Build a Business Case: Developing Custom Apps
In this whitepaper learn how to maximize the value of custom applications by accelerating and simplifying their development.