Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Obama names Otellini to advisory council

By Charles Riley, staff reporter


NEW YORK (CNNMoney) -- Intel CEO Paul Otellini will be named to President's Council on Jobs and Competitiveness, a White House official said Friday.

Obama previously announced General Electric (GE, Fortune 500) CEO Jeffrey Immelt as the group's chairman, and other members are expected to be named in the coming weeks.

The President's Council on Jobs and Competitiveness replaces the Economic Recovery Advisory Board that was headed by former Federal Reserve Chairman Paul Volcker.

The administration says the new group will focus on finding ways to promote growth and encourage hiring, as well as find ways to attract the best jobs and businesses to the United States.

In September, Otellini criticized the Obama administration's handling of the economic recovery.

"The decisions so far have not resulted in either job growth or increased confidence. When what you're doing isn't working you rethink it and I think we need to rethink some plans," Otellini said.

But in December, Otellini participated in a meeting between Obama and 19 other prominent CEOs at the White House, and returned in January for a similar meeting that included Chinese President Hu Jintao.

On Friday, Obama is scheduled to travel to Oregon, where he will visit Intel (INTC, Fortune 500) and tour the chipmaker's advanced semiconductor manufacturing facility with Otellini. To top of page

Index Last Change % Change
Dow 17,689.86 -56.12 -0.32%
Nasdaq 5,128.28 -0.50 -0.01%
S&P 500 2,103.84 -4.79 -0.23%
Treasuries 2.20 -0.06 -2.78%
Data as of 12:53am ET
Company Price Change % Change
Bank of America Corp... 17.88 -0.25 -1.38%
Micron Technology In... 18.51 -1.39 -6.98%
Facebook Inc 94.01 -1.20 -1.26%
Apple Inc 121.30 -1.07 -0.87%
Frontier Communicati... 4.72 0.09 1.94%
Data as of Jul 31
Sponsors

Sections

Some families are outraged at the sums they've been offered by Lufthansa as compensation for the Germanwings plane crash in March which killed 150 people. More

Fast-food chains that operate in more than 30 locations nationwide are the sole target of a new rule in New York to hike their minimum wage to $15. But consumers and small business owners, as well as some employees, may be the ones to pay the price. More

You can't blame it on the economy anymore. More Millennials now have jobs, but are still living at home. More