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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 224.31+0.4%2:04 PM EST
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To: Big Bucks who wrote (7480)10/10/2003 2:46:03 PM
From: Sam Citron  Read Replies (1) of 25522
 
Here's Grove's own response to the question:
(please excuse the poor formatting and transcription)

11 MR. SNAT: Dr. Grove John grim with the

12 Washington Post. You talked about the exodus of

13 jobs in the IT and particularly software and

14 services sector. You did not talk about the

15 software and hardware and IT companies that are

16 steadily moving jobs offshore.

17 I assume that's a major contributing

18 factor so in effect you have our own industry

19 participating in this trend. I know Intel included.

20 I would like to know where the balance is there.

21 [Grove:] I completely agree with what you are

102

1 asking and the implication of the comment. Those of

2 us in business have two obligations in my opinion.

3 The one that's undebatable is we have a fiduciary

4 responsible to run our business for the shareholders

5 who put us in our place, gave us the decision making

6 power.

7 We are expected to and legally required to

8 do the best job we can for them provided we stay

9 inside the law. There is another obligation that I

10 feel personally given that everything that I have

11 achieved in my career, and a lot of what Intel has

12 acleveland in its career, the two are somewhat

13 intertwined, were made possible by a climate,

14 democracy and economic climate and investment

15 climate provided by our domiciled United States.

16 I feel a responsibility for doing the

17 right thing for the country that has allowed us to

18 be in a position where you can ask this question.

19 These too are pulling us in different directions.

20 That is where I'm looking for public policy to help

21 guide us, reinforce the relationship between the

103

1 two, reconcile the conflict. In the absence of a

2 P*P that tells me what to do I have no choice as

3 corporate manager, nor do my colleagues at Intel and

4 outside of Intel, we have to work to that very often

5 involved moves of jobs and moves of capabilities

6 into other countries.

globaltechsummit.net [pp. 101-102]
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