Intel CEO Pans Public Option, Cap & Trade
Intel CEO Paul Otellini said Monday that he dislikes cap-and-trade provisions to address global warming, which are being considered as part of broad energy legislation on Capitol Hill. In an interview on Fox Business Network, the tech executive said the measure "doesn't take into account the fact that people build things for a global basis and you have global competition." "This either has to be done on a global basis; otherwise all you're doing is moving the pollution and making the U.S. less competitive," he said.
Otellini commented the controversial public option proposal that some want to ensure is part of healthcare reform legislation. "At face value, I don't think it would help our employees," he said. "They get a fairly good health package today... I would be afraid of any option that took away that choice." He also said government should take the uncertainty out of doing business in the United States. "Give businesses a clear view of taxation, healthcare costs, can you get H1B visas for employees you want to hire, those kinds of things."
Ending the recession is directly tied to the nation's confidence, Otellini added. "Rebuilding confidence, it's not about a different structure of the banks or anything. Do people have confidence that the economy is going to be better tomorrow than today. That will happen as the GDP improves and I think people will expand if you take the variability out," he said.
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