Google, Xerox CEOs on Obama economic team
Google CEO Eric Schmidt
(Credit: Stephen Shankland/CNET News)Google CEO Eric Schmidt and Xerox CEO Anne Mulcahy will bring some tech experience to an advisory board for President-elect Barack Obama, according to press reports about an announcement from the organization.
The 17-member Transition Economic Advisory Board (TEAB) also will get a dose of technology experience from Richard Parsons, chairman of the board at AOL parent company Time Warner. Schmidt, who already had been an adviser to the Obama campaign, endorsed Obama in October.
The board is set to meet Friday before Obama's first press conference as president-elect. A report in The Guardian, among others, carried the full list:
• David Bonior (member of the House of Representatives from 1977 to 2003)
• Warren Buffett (chairman and CEO of Berkshire Hathaway)
• Roel Campos (former Securities and Exchange commissioner)
• William Daley (Midwest chairman for JPMorgan Chase; secretary of the U.S. Department of Commerce from 1997 to 2000)
• William Donaldson (chairman of the U.S. Securities and Exchange Commission from 2003 to 2005)
• Roger Ferguson (president and CEO of TIAA-CREF; former vice chairman of the Federal Reserve board of governors)
• Jennifer Granholm (governor of Michigan)
• Anne Mulcahy (chairman and CEO of Xerox)
• Richard Parsons (chairman of Time Warner)
• Penny Pritzker (CEO of Classic Residence by Hyatt)
• Robert Reich (professor at University of California at Berkeley; secretary of the U.S. Department of Labor from 1993 to 1997)
• Robert Rubin (chairman and director of the Citigroup executive committee; secretary of the U.S. Treasury Department from 1995 to 1999)
• Eric Schmidt (chairman and CEO of Google)
• Lawrence Summers (professor at Harvard University; managing director of DE Shaw; secretary of the U.S. Treasury from 1999 to 2001)
• Laura Tyson (professor at Haas School of Business of University of California at Berkeley; chairman of the National Economic Council from 1995 to 1996; chairman of the President's Council of Economic Advisers from 1993 to 1995)
• Antonio Villaraigosa (mayor of Los Angeles)
• Paul Volcker (chairman of the Federal Reserve from 1979 to 1987)
Stephen Shankland writes about a wide range of technology and products, but has a particular focus on browsers and digital photography. He joined CNET News in 1998 and since then also has covered Google, Yahoo, servers, supercomputing, Linux and open-source software, and science. E-mail Stephen, or follow him on Twitter at http://www.twitter.com/stshank. 
Apparently being creative in winning a campaign does not translate to creativity in approaching problems. Just another disappointment to those who expected Obama really meant what he said and could actually execute.
Ok sure have it your own way.. maybe you are too slow to blame Big Oil until you get tired and sick of $145 oil barrels. You are too quick to forgive Big Oil because the high price lasted only a couple months.. Wait until oil prices come back up and stay up there long enough, you will trade blame from old ones to Big Oil for sure!! It is so easy for you to use the demand argument.. Just an expedient denial on your own behalf, you are an oil sucker simpleas that! You are a sucker for Big Ol!
Change would have been to bring in someone like Bill Bonner, Richard Timberlake, or yes even Ron Paul, all of whom would at least bring a "different" perspective to the table
I'm going to stay positive that they can work something out, though it is just fundamentlay impossible for the problem to go away with-out allot of pain (housing values to drop another 20-30% and many other market and personal re-alignments). Though it will be tough, I'm hopeful for a population mindset that will change people for the better of society and the world - "Ubuntu"
See how it works? No Kool-Aid required.
Bottom line - had normal loan practices been in place we wouldn't have the problem we have now. The reason we have the problem? The government tried to "help".
? Jennifer Granholm: Yeah, Michigan's economy is something we should all aspire to
? Robert Reich: Never met a Socialist he didn't like
? Antonio Villaraigosa: Let's create a sanctuary city and give unlimited public aid to illegals. Meanwhile gang warfare is out of control and taxes and fees must be hiked to pay for exploding social services.
More of the same old same old. Which member of this comittee is going to stand up and tell Obama the US is bankrupt and it was caused by profligate government spending? Who is going to object to a central bank which taxes the money workers have already earned? Who is going to take moral exception to an entitlement mess which is paid for by stealing food off the table of working families?
Who is going to bailout otherwise hardworking and responsible citizens when they finally give up toiling for the benefit of others in disgust? No, Obama thinks they can "give" a little more. Just a little more... Just a little... MORE MORE MORE! You'd hope Obama would have more appreciation for the rights of minorities.
Answer: Yes, if you dont hold any stock certificate for your XYZ shares, but there is certain regulatory requirments that your broker not to sell all of your XYZ shares. It is similar to your bank that is required to maintain cash reserves for depositors who may need to withdraw funds for daily needs like shopping and paying bills... Now back to your broker , I am not sure what percentage of your XYZ stock that your broker are required to hold in real physical form as in stock certificates... Lets suppose that your broker has clients buying same XYZ shares in aggregrates of about 10,000 shares ( Yours , 150 for example) The SEC and NASD regulationsmay require that your broker hold 1,500 or 2,000 shares of XYZ stock in stock certificates and is free to sell 8000 of XYZ stock if your broker think XYZ stock is not performing well and is a waste of time. Your broker may know better choices for himself and is free to use (abuse) your XYZ stock for other stock pickings or lending to short sellers and collecting interest on short loans to short sellers . Sure , anything can happen to XYZ stock, your broker, short seller, or even yourselves, can be wrong about your choices. The basic point for stock certificates is that they build real value and foundation for XYZ Corporation . If you take stock certificate for your 150 XYZ shares, your shares will be totally building support toward XYZ valuation without being compromised by your broker or short sellers or any other affliated players .It is a complex fact that you have to spend time thinking about the real implications and consquences for your stock holdings without any stock certificates in your possessions. It is a real funny money fact! For sure!
Expect rebates and free money to Detroit, whose business model is broken. Once electric cars become a practical solution they would be done forever.
Wall Street had been using shareholder's money to other accounts because shareholders never asked for stock certificates either in paper form or electronic form (not available yet). Stock certificates protect your shares from short sellers, brokers, con artists, etc.... Stock certificates entitles you to your number of shares that you bought through your brokers and that your shares cannot be used for other accounts like short sellers, real estate speculators, venture investors, investment bankings, etcetra! Your shares is static in your name , unmovable by any means. If your mutual fund managers do not hold stock certificates for every stock they hold in their portfolios, they are not doing their jobs right! They are careless with your money. You can call your mutual fund representative or customer service dept and ask them whether they dutifully hold stock certifcates or not... If they cannot answer straight enough to satisfy you, I recommend you sell your mutual fund shares immediately. Put them in CDs. Then you call the next mutual fund you like and ask the same question until you get a satisfactory answer with proof that the managers do hold stock certificates, then you can proceed in buying shares in those mutual funds. Stock certificates is a critical defensive tool against the gargoyles of Wall Street! If you dont think it is important , then you go riding in a merry-go-around!
I had experimented with stock certificates before and I have proof that stock certificates protect your shares... Listen, I was amazed to learn that after I called my broker to buy some shares of XYZ stock without asking for certificates.. My next statement showed that I own XYZ stock which was fine with me. Then I called my broker to send the stock certificate for my XYZ stock and he did for a fee. I got the next statement to my amazement that my XYZ stock was no longer listed in my statement... Where did it go?? Inside my stock certificate! My broker no longer hold my XYZ stock for me in "street name" or so called clearinghouses. The biggest clearinghouse name is State Street among many others. When I called my broker to sell my XYZ stock, my broker said that he dont see my XYZ stock. I explained to my broker that I have stock certificate. If you do not understand the meaning of my story above, it means that my broker dont hold my XYZ stock for short sellers or real estate speculators to borrow from while I get monthly statements and wondering why my XYZ stock is not performing well.. Any of you can ask that question to financial experts like Suze Orman or Jane Bryan Quinn, if you can. You can ask like "Do stock certificates protect my shares from short sellers and other undesirable players who may be affliated with my brokerhouse?". Say it with courage, anybody?
Do I mean that my broker has the right to sell my XYZ shares for his own accounts while masquerding as a broker holding my XYZ shares in "street name" in my monthly statements?
Answer: Yes, if you dont hold any stock certificate for your XYZ shares, but there is certain regulatory requirments that your broker not to sell all of your XYZ shares. It is similar to your bank that is required to maintain cash reserves for depositors who may need to withdraw funds for daily needs like shopping and paying bills... Now back to your broker , I am not sure what percentage of your XYZ stock that your broker are required to hold in real physical form as in stock certificates... Lets suppose that your broker has clients buying same XYZ shares in aggregrates of about 10,000 shares ( Yours , 150 for example) The SEC and NASD regulationsmay require that your broker hold 1,500 or 2,000 shares of XYZ stock in stock certificates and is free to sell 8000 of XYZ stock if your broker think XYZ stock is not performing well and is a waste of time. Your broker may know better choices for himself and is free to use (abuse) your XYZ stock for other stock pickings or lending to short sellers and collecting interest on short loans to short sellers . Sure , anything can happen to XYZ stock, your broker, short seller, or even yourselves, can be wrong about your choices. The basic point for stock certificates is that they build real value and foundation for XYZ Corporation . If you take stock certificate for your 150 XYZ shares, your shares will be totally building support toward XYZ valuation without being compromised by your broker or short sellers or any other affliated players .It is a complex fact that you have to spend time thinking about the real implications and consquences for your stock holdings without any stock certificates in your possessions. It is a real funny money fact! For sure!
ANSWER: Possilby yes, mutual fund managers hold a lot of GM and Ford shares and they can easily call their brokers for stock certificates. There is a good chance that GM and Ford stock will shoot up the next day! Short sellers will be kicked out of shorting GM and Ford shares immediately because brokers have to deliver shares to rightful owners. Brokers will have to buy GM and Ford shares from everybody else.. it depends on how many shares in all that all mutual fund managers hold now... They easily hold over half of each GM and Ford shares outstanding. This is a big chunk of shares that they are sitting on without stock certificates and they allow short sellers to fool around with GM and Ford stock for what reason , I cant imagine!
As to the article, thanks for the info - I wonder who he'll use for the final board?
- by keeef091 January 16, 2009 3:39 AM PST
- Dr. Eric Schmidt has very many mafia friends, some of whom produce p_rn, even child p_rn from captive women and children, which is how Google got sued for profiteering from deliberatly promoted child p_rnography & why they withheld the identities of child p_rn distributors from police. http://endmafia.com
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