Sen. Clinton woos Silicon Valley and commits to H-1B increase
Sen. Clinton woos Silicon Valley and commits to H-1B increase
Date: Sunday, June 03, 2007 8:12 PM
<<<<< JOB DESTRUCTION NEWSLETTER No. 1701 -- 6/03/2007 >>>>>
Senator Hillary Clinton has been schmoozing around Silicon Valley. The result
-- she raised big bags of cash for the Democratic Party. While she was at it,
she brought her corporate sponsors to a cheering ovation when she proclaimed
her commitment to increase the yearly cap on H-1B visas.
So here is the deal in a nutshell -- Clinton raises H-1B, and high-tech
companies shower her with crisp dollar bills. The first two quotes make it
clear that high-tech companies expect a payoff, and the next two should leave
no doubt what Clinton's part of the deal is.
"Silicon Valley is the traditional ATM machine for presidential
candidates where they come solely for withdrawal,'' Guardino said.
"But when they engage with the leadership on policy issues, in
these visits, they are making a deposit as well."
Clinton received a round of applause when she said she supports
increasing the current cap on H-1B work visas. She advocated
relaxing green card restrictions of engineers "so they don't
go home."
SEN. HILLARY CLINTON (D-NY), PRESIDENTIAL CANDIDATE: I am
reaffirming my commitment to the H1-B visa and increasing the
current cap. So let's just face the fact that foreign skilled
workers contribute greatly to what we have to do in being
innovators.
I included the ABC article last just to make it clear that Clinton isn't the
only one who is schmoozing for high-tech money. Lot's of Democratic hopefuls
such as John Edwards, Rudy Giuliani, and Barack Obama followed Clinton's dash
for cash, and you can bet that each and every one of them will support an H-1B
increase as long as they get paid enough to do so.
Be sure to click the link to the ABC story to see a picture of Hillary, and
the sign that says "Tommorrow". Remember Dan Quayle?
To watch Hillary Clinton's speech, go here:
http://cbs5.com/business/local_story_151191349.html
Part 1 (34:00)
Part 2 is in their video library. Just search for the keywords: Clinton
Silicon Valley. It's about 24 minutes long.
The following is a brief synopsis of her speech marked by the minutes from the
start of the video.
(2:00) Clinton says that globalism is inescapable, and it lifts people of the
world out of poverty. She also said something in passing about how it helps
the American middle class.
(3:30) Clinton said that Americans have fears and anxieties that they aren't
sharing the wealth with the corporations. She explained that most of these
fears are due to pessimistic attitudes. If I heard her correct, her most
important job as president will be to make people feel more optimistic about
globalism.
(6:00) Clinton bemoans the shortage of PhDs in the U.S. She says that too few
Americans are studying math and science.
(7:00) According to Clinton there are only two schools of thought on our
economy. There are those that say there is nothing to worry about, and all
others say there is nothing we can do to change it. She implies that the first
group are the noe-cons in the Bush administation, and the second group are
mostly fatalists who oppose her brand of globalism. It could be worse -- she
could have called us xenophobes or protectionists!
(11:30) She calls for a partnership between government, corporations, and rich
entrepreneurs. This part of her speech sounded kind of fascist.
(22:30) Clinton gets into some major shortage shouting. She said there are
shortages of skilled workers all across the nation because Americans don't
have enough skills. She said there are open mechanic positions that pay
$60,000 a year. She then goes on to say we need more kids studying math and
science (perhaps for those mechanic jobs?).
(26:30) She says that "we" have done a great job of bringing the best and
brightest throughout the world to work in the U.S. She didn't explain who "we"
was.
<<<<< MOST IMPORTANT SECTION >>>>>
(27:20) Here is it folks -- Clinton reaffirms her committment to raising the
H-1B visa cap. If you have actually watched the video up to this point, be
sure to note how silent the audience is to this point. All of a sudden the
audience breaks out in applause when she says she wants to raise the cap --
which just goes to prove that all the blather before and after was just a
pretext to tell the corporatocrats what they really came to hear.
Note: I know I mispelled commitment but hey, if the educated elite of Silicon
Valley can mispell "tommorrow", why can't I do the same? In fact, if there are
other mispelled works in the newsletter, I did it on purpose just to be funny!
Clinton doesn't stop with H-1Bs. She says she wants more green cards, and then
wastes no time accusing those who object as 9-11 reactionaries.
(28:45) Clinton says that engineers have complained to her that they trained
their foreign replacements. Her response was so much like Marie Antoinette it
has to be heard to be believed, but in essence she said that these complainers
obviously don't have the skills to compete in our modern global economy. Now
just why does Clinton think these complainers don't have the skills when they
are training their replacements? No way Hillary Clinton is this stupid, but
maybe she thinks we are!
(33:00) She said we are a "nation of innovators". Oh well, it could be worse,
she could have said we are a "nation of immigrants"!
(33:45) Clinton called this Version 1.0 of her innovation agenda. How
Microsoftellian!
Part 2 is a Question Answer Session
(1:30) Clinton said we must pass "Comprehensive Immigration Reform" in order
to increase H-1B and to do all sorts of other wonderful immigration related
things.
(2:45) She emphasizes how important the AgJobs provisions in the CIR are for
farmers that want cheap labor. The host of the event makes the comparison
between "cow chips" and "semiconductor chips". Cute, very cute, and everybody
chuckles.
(8:00) More blather about the foreign geniuses that are essential to our
economy. Almost every sentence by Clinton contains the phrase "math and
science".
(11:30) Clinton says that we need a pre-kindergarten system to get kids
interested in, you guessed it: "Math and Science".
(12:25) Clinton says that we need to make "math and science" interesting to
American kids.
(12:50) Talking about her childhood, Clinton said that when she was a kid, the
president said that kids need to study "math and science" in order to keep up
with the Russians.
(13:20) We need a national policy to get kids interested in "math and
science".
(20:15) The CEOs of Seagate and Adobe anoint Clinton to the brotherhood of
corporate sainthood. Perhaps I was just seeing things, but I would have sworn
I saw some $100 bills dropping out of their back pockets as they bowed to kiss
her pointy heeled shoes.
Articles Included Below
http://transcripts.cnn.com/TRANSCRIPTS/0706/01/ldt.01.html
LOU DOBBS TONIGHT Aired June 1, 2007
http://www.signonsandiego.com/news/tech/20070601-0012-ca-clinton-siliconvalley.html
Clinton woos Silicon Valley executives with technology plan
http://www.mercurynews.com/localnewsheadlines/ci_6035651
Clinton appeals to high-tech leaders
http://cbs5.com/business/local_story_151191349.html
Clinton Woos Silicon Valley Execs With Tech Agenda
+++++++++++++++++++++++++++++++++++++++++++++++++++
http://transcripts.cnn.com/TRANSCRIPTS/0706/01/ldt.01.html
LOU DOBBS TONIGHT
Aired June 1, 2007 - 18:00 ET
DOBBS: Senator Hillary Clinton is under fire for comments she made last night
in California. Appearing before a crowd of executives in Silicon Valley,
Senator Clinton spoke out in support of bringing in even more cheap foreign
labor.
Casey Wian has the report.
(BEGIN VIDEOTAPE)
CASEY WIAN, CNN CORRESPONDENT (voice-over): Senator Hillary Clinton told
Silicon Valley executives she wants to create more high- tech jobs in the
United States. But for now, she's advocating more of those jobs go to
immigrants from India and China.
That remark was interrupted with the loudest applause heard during her
campaign speech.
SEN. HILLARY CLINTON (D-NY), PRESIDENTIAL CANDIDATE: I am reaffirming my
commitment to the H1-B visa and increasing the current cap. So let's just face
the fact that foreign skilled workers contribute greatly to what we have to do
in being innovators.
WIAN: Already, corporate America has used up its allotment of H1-B visas for
2008, 65,000 high-tech workers and another 20,000 with advanced degrees.
Clinton did not specify how many more foreign workers she would allow, but she
did propose ideas for creating more home-grown technology talent.
CLINTON: We need to treat our young scientists and engineers with respect and
provide real rewards. They should know that our country needs them, because,
in fact, we do.
WIAN: Those ideas included national standards for math and science education,
more funding for National Science Foundation grants and even a reality
television show to bring what she called sex appeal to science and math.
But perhaps the Senator should begin with the basics, such as spelling. On the
same day a 13-year-old from nearby Danville, California, was crowned national
spelling bee champion...
UNIDENTIFIED FEMALE: You are correct for the championship. WIAN: ... behind
Senator Clinton, as she spoke of the need for more education, a slogan reading
"New Jobs for Tommorrow (sic)", but tomorrow is spelled incorrectly, with two
"M's." For the record, Senator, it's T-O-M-O-R-R-O-W.
(END VIDEOTAPE)
WIAN: The Silicon Valley leadership group which hosted the speech says the
graphic for that misspelled banner came from the Clinton campaign. The
campaign did not return our call seeking comment on the gaffe -- Lou.
DOBBS: Well, maybe they could open up -- maybe they should use one of those
H1-B visas, bring in a scholar for the senator.
That's incredible. The Senator is certainly one of those most well-read and
well-informed of the candidates. She is -- and I don't know if you had the
opportunity to talk with the campaign -- is she unaware that 7 out of 10 of
those H1-B visas are going to Indian companies for outsourcing? Is she aware
that four out of five of those jobs are level one, not level four, high school
jobs?
WIAN: We didn't get a chance to speak with the Clinton campaign. They didn't
return our phone calls.
But what I can tell you is that one of the folks who was -- one of the
executives in attendance at that speech says the group -- the executives in
Silicon Valley are getting tired of candidates treating Silicon Valley like an
ATM. So perhaps Senator Clinton is giving them a hint of a return on their
investment, Lou.
DOBBS: Well, I'm sure the ATM aspect of it is not -- is not something she's
given up on either. But it looks like it is a straightforward swap. But not
one that makes a lot of sense for the American worker. Thank you very much,
Casey Wian.
WIAN: OK.
+++++++++++++++++++++++++++++++++++++++++++++++++++
http://www.signonsandiego.com/news/tech/20070601-0012-ca-clinton-siliconvalley.html
Clinton woos Silicon Valley executives with technology plan
By Rachel Konrad
ASSOCIATED PRESS
12:12 a.m. June 1, 2007
Associated Press
Democratic presidential hopeful Hillary Rodham Clinton wooed Silicon Valley
campaign donors and voters with a plan to create more high-paying jobs and
maintain U.S. dominance in technology.
SANTA CLARA - Democratic presidential hopeful Hillary Rodham Clinton wooed
Silicon Valley campaign donors and voters with a plan to create more high-
paying jobs and maintain U.S. dominance in technology.
The New York senator said she's trying to increase the number of so-called H1B
visas aimed at highly educated workers. Silicon Valley companies use H1Bs to
sponsor thousands of software engineers from Russia, India, China and other
countries, but many must return home when their temporary work permits expire.
"If you think you have a skills shortage now, project it out a decade and
we're going to be in real trouble," Clinton said Thursday to applause from
more than 200 executives attending a half-day CEO Summit by the Silicon Valley
Leadership Group. "We need to guide immigration reform to attract and retain
foreign-born students who want to work in the United States."
If elected, Clinton said, her administration would provide financial support
to schools that encourage girls and minorities to study "STEM"
subjects: science, technology, engineering and math.
Clinton's plan would:
Increase federal research and development budgets 50 percent over the next
10 years at the National Science Foundation, the Department of Energy's Office
of Science and the Defense Department. She would triple the number of NSF
fellowships and create an award structure to encourage working engineers and
scientists to teach classes and mentor students in public schools.
Establish a $50 billion "Strategic Energy Fund" that would create a research
agency focused on reducing the threat of global warming. The R&D windfall and
energy agency would be funded in part from closing tax loopholes and ending
subsidies to oil companies, she said.
Provide tax incentives to increase the number of U.S. homes with broadband
Internet connections.
The senator - who spent the morning raising money at a private fundraiser -
largely avoided the subject of the Iraq war. Her support of the war was
expected to draw protesters at another private fundraiser Thursday evening.
Executives attending Clinton's speech said she hit the right tone with Silicon
Valley power brokers. Executives in the nation's technology hub - where 53
percent of all engineers are foreign-born - worry many workers will return to
India, China and other countries developing tech sectors.
"We are clearly on common ground," Adobe Systems Inc. CEO Bruce Chizen said.
Carl Guardino, CEO of the Silicon Valley Leadership Group, said the
organization doesn't endorse candidates and invited all presidential hopefuls
to address members. Republican candidate John McCain spoke to an SVLG forum
several weeks ago.
+++++++++++++++++++++++++++++++++++++++++++++++++++
http://www.mercurynews.com/localnewsheadlines/ci_6035651
Clinton appeals to high-tech leaders
DEMOCRATIC CANDIDATE PUSHES ENERGY RESEARCH, SCIENCE, MATH EDUCATION By Julia
Prodis Sulek Mercury News San Jose Mercury News Article Launched:
Democratic presidential candidate Hillary Rodham Clinton spoke the language of
Silicon Valley on Thursday when she laid out an "innovation" plan to the
valley's high-tech leaders aimed at creating new jobs, encouraging math and
science education, and "bringing the information age to every corner of the
country."
"Call this version 1.0 of my innovation agenda," the New York senator and
former first lady said, suggesting a partnership with the group to "tweak it
and fine-tune it."
As part of her nine-point plan, Clinton said she would create a $50 billion
energy research agency to reduce energy dependence and the threat of global
warming; increase the research budgets of the National Science Foundation, and
increase investment in research at the National Institutes of Health.
"A culture that values and invests in ideas is part and parcel of the promise
of America. And we have always supported that culture with public investment,"
Clinton told a group of CEOs and executives gathered at a Silicon Valley
Leadership Group meeting at Applied Materials in Santa Clara. "The fire that
was sparked here in this valley has made such a difference, but it can't be
allowed to sputter out."
Clinton said she supports increasing the number of foreign-born high-tech
workers allowed into the country as well as providing tax incentives to
encourage broadband deployment in under-served areas of the country and
encouraging new technology in renewable energy.
"It's clear from her remarks today, she's in tune with what Silicon Valley is
looking for," said Joe Pon, vice president of corporate affairs for Applied
Materials, which hosted the event. "As with anybody, it will be interesting to
see what priorities they set when they get in office. But we're not going to
let them off the hook."
Clinton addressed about 200 high-tech CEOs and executives at the leadership
group's annual "business climate summit."
She also attended a luncheon at a Palo Alto hotel, where 800 guests paid from
$250 to $1,000 to listen to her discuss a broad range of issues.
Just before her speech in Santa Clara, she spent about a half hour with a more
intimate gathering of about a dozen members of the leadership group.
There, Clinton discussed three issues at the forefront of the high-tech
industry: green and renewable energy, patent reform and protection and H-1B
work visas for foreign-born engineers.
"She was listening, highly informed and there was a great deal of commonality
in the importance of these goals," said Ken Kannappan, president and CEO of
Plantronics, a Santa Cruz-based headset maker. "I thought she was very
sincere."
For the past couple of months, a stream of presidential candidates have spent
time in Silicon Valley, with four of them speaking at Google headquarters in
Mountain View.
But Carl Guardino, the CEO of the leadership group, said it's time the
candidates stop considering Silicon Valley their "ATM machine" and started
making deposits.
Clinton received a round of applause when she said she supports increasing the
current cap on H-1B work visas. She advocated relaxing green card restrictions
of engineers "so they don't go home."
Guardino pointed out that 53 percent of all engineers in Silicon Valley are
foreign born and three of 10 new jobs are created by foreign-born CEOs.
On another topic, the Democratic front-runner called her renewable energy
plan, "energy 2.0," suggesting that instead of "leading in foreign oil
imports, we should be leading in green-tech exports."
"There's no reason we should be subsidizing oil discovery and exploration,"
she said. "Winning the 21st century energy race is as important as winning the
20th century space race."
Clinton also discussed overhauling the health care system to help not only the
uninsured, but the under-insured.
"I have no illusions of how hard this will be," she said, "but I think we
finely have a critical mass" of support.
More students need to be encouraged to study math and science, she said.
Fewer than 20 percent of American undergraduates earn degrees in science and
engineering, compared with 50 percent in China.
Perhaps the tech industry can learn from reality TV shows, she said with a
chuckle.
"Think of a series to bring real sex appeal" to science and math, she said.
She also proposed federal tax incentives to bring broadband to all areas of
the country.
"What the railroads were to 19th century innovation, the broadband should be
to the 21st century," she said. "It's critical if we expect to connect-up our
country."
+++++++++++++++++++++++++++++++++++++++++++++++++++
http://abcnews.go.com/Politics/story?id=3232878&page=1
High Stakes in High-Tech Country
Presidential Candidates Pitch Future Plans, Court High-Tech Campaign Cash By
KATE SNOW and ELOISE HARPER May 31, 2007
There is a race for dollars going on in Silicon Valley and it's not about
funding the next high-tech innovation, semiconductor or plasma computer
monitor.
This race is all about funding the candidacy of the next president of the
United States.
In the last 24 hours no less than three presidential hopefuls have wandered
through this beautiful green valley, speaking with supporters and gathering up
high-dollar checks.
Clinton Looks Toward 'Tommorow'
On Thursday, Sen. Hillary Clinton, D-N.Y., made her high-tech pitch at a
gathering of CEOs and senior officers at the headquarters of Applied
Materials, the largest manufacturer of semiconductor components in the world.
"I believe we ought to hit the restart button on the 21st century," said
Clinton, gearing her policy speech toward their favorite issues and using
lingo to match.
Clinton delivered her speech from a new age Applied Materials lectern and in
front of a large blue screen repeating the mantra "New Jobs for Tommorrow."
Thankfully, the former first lady was in front of the brightest minds of
Silicon Valley and not before the judges of the 80th Annual Scripps Spelling
Bee in Washington. The correct spelling, as the spelling champs gathered from
around the country would almost certainly know, is t-o-m-o-r-r-o-w.
Misspelled mantras aside, the discussion was hosted by the Silicon Valley
Leadership Group, a lobbying organization for the high-tech industry, which
does not endorse or contribute to individual candidates.
Clinton outlined a nine-point agenda meant to increase research and
development, create a stronger work force in science, engineering, technology
and math, and upgrade what she called the "innovation infrastructure" in
America.
The plan includes a $50 billion Strategic Energy Fund, a sort of next-
generation Apollo project to gather the best minds from academia, the private
sector and government to find ways to make the U.S. energy independent.
"The fire that was sparked here in this valley has made such a difference that
it can't just be allowed to sputter out. There has to be a partnership again
between our government and our great companies," Clinton said.
Former Sen. John Edwards also made the high-tech rounds this week. Edwards
visited Google headquarters Wednesday. Former New York Mayor Rudy Giuliani was
also here Wednesday. And Sen. Barack Obama, D-Ill., flies in this weekend and
will hop between four separate private fundraisers.
High Stakes Politics in High-Tech Country For the young millionaires and
billionaires who call this place home it is an intoxicating, exciting time to
dabble in politics. Many young high-tech entrepreneurs are new to the
political game and are unsure which candidate to support at this early stage.
"The Silicon Valley community seems to be fairly undecided," said Talat Hasan,
a high-tech entrepreneur who, with her husband, Kamil, hosted a cocktail party
fundraiser for Clinton at her Saratoga home Thursday.
Hasan told ABC News she very much supports Clinton, but that won't stop her
from attending an Obama fundraiser Saturday and donating to his campaign as
well.
"I am very much for Sen. Clinton," she said. "Only because I think she has the
best experience of any of the candidates on either side, on both sides of the
aisle, and has the best grasp of the issues. But having said that, I still
think Sen. Obama is a very exciting, rising political star in our party and so
we want to get to know him better."
The Hasans' support could be critical to any candidate. The couple, leaders in
the Indian American community here, raised $1.5 million for John Kerry back in
2004.
Feeding the 'Fire'
In a private meeting before her public speech, Clinton talked with leaders of
prominent high-tech companies such as Adobe, Hewlett-Packard, Intel, Lockheed
Martin, Microsoft, Palm, Seagate Technology, Sun Microsystems and Yahoo.
They may not all be household names but they are the movers and shakers in
this part of California.
Carl Guardino, the president and CEO of the Silicon Valley Leadership Group,
told ABC News the group had invited several candidates to address the CEOs in
an effort to learn more about their positions on matters of particular concern
to the high-tech industry.
"We understand the realities, that the candidates need funding," he said.
"But what's refreshing is, instead of Silicon Valley being the ATM machine of
presidential politics when we can engage them on policy instead of just making
cash withdrawals, they're also making cash deposits in Silicon Valley."
But making "deposits" can help earn more "withdrawals" from the Silicon Valley
money machine. Clinton supporters said the campaign expected to do well here
in the second quarter even though some wealthy donors have already given the
maximum amount allowed by federal law.
"I certainly find a lot of responsiveness when I call up friends and ask them
if they want to get involved," said Clinton fundraiser and senior adviser Mark
Chandler.
Follow the Money
In the first three months of 2007, Clinton led the 2008 pack in fundraising in
the region.
According to CQ's PoliticalMoneyLine, (www.politicalmoneyline.com), Clinton
raised $703,500 in the valley between Jan. 1 and March 31.
Obama was second, raising $591,948 in the same period. Edwards pulled in
$193,469.
And it's not just Democrats.
On the Republican side, former Massachusetts Gov. Mitt Romney took advantage
of business connections and old friendships. According to PoliticalMoneyLine,
Romney raised $474,125 from addresses here in the first quarter, compared to
$120,701 for Giuliani and $91,300 for Sen. John McCain, R-Ariz.
McCain visited Google earlier this month and has held at least three
fundraisers in nearby San Francisco.
On Wednesday, Giuliani celebrated his 63rd birthday with a fundraiser hosted
by prominent venture capitalist Floyd Kwamme at the Burlingame, Calif., Hyatt.
The room was packed with venture capitalists and CEOs.
Earlier, as he signed autographs at a restaurant, Giuliani suggested Clinton's
tax proposals would hurt the San Francisco Bay area by limiting the flow of
venture capital for investment in high-tech industries.
"It would hurt our economy. It would hurt this area traumatically,"
Giuliani said.
There are sharp elbows when it comes to soliciting high-tech dollars, but
deep-pocketed donors are taking it in stride and opening their wallets.
"While some people would say it's expensive to participate in the political
process, I think that's trivial compared to the cost that we all suffer if we
don't participate," Chandler said. "And people are participating because they
know it's important to have leadership that knows how to drive innovation,
drive economic growth and competitiveness."
For her part, Hasan said her friends seem more interested in the race this
time around, as compared to 2004.
"There is a feeling that our country has some significant problems --
domestically and internationally -- and people are very concerned about them
and they want to really understand [the candidates' positions] this time."
+++++++++++++++++++++++++++++++++++++++++++++++++++
http://cbs5.com/business/local_story_151191349.html
May 31, 2007 7:31 pm US/Pacific
Clinton Woos Silicon Valley Execs With Tech Agenda
(CBS 5 / AP / BCN) SANTA CLARA Democratic presidential hopeful Hillary Rodham
Clinton sought to woo Silicon Valley campaign contributors and voters Thursday
with an ambitious plan to create more high-paying jobs and maintain U.S.
dominance as an "innovation superpower" in the technology sector.
The senator from New York spoke at the Santa Clara headquarters of Applied
Materials, a manufacturer of nano-technology and extremely small electronic
components. She outlined her 9-point "innovation agenda" to spur research and
create a premier science, engineering, technology and mathematics workforce.
Clinton said she's already trying to increase the number of so-called H1B
visas aimed at highly educated workers.
Silicon Valley companies use H1Bs to sponsor thousands of software engineers
from Russia, India, China and other countries, but many must return home when
their temporary work permits expire.
"If you think you have a skills shortage now, project it out a decade and
we're going to be in real trouble," Clinton said to applause from more than
200 executives attending the half-day CEO Summit by the Silicon Valley
Leadership Group.
"We need to guide immigration reform to attract and retain foreign-born
students who want to work in the United States," she said, observing that the
globalization of the economy in the 21st Century poses special challenges.
"Globalization has lifted more people out of poverty around the world than any
other innovation in recent history," Clinton said.
However, she said, many Americans have "a deep sense of anxiety" about
globalization because "they have seen their wages stagnate" and "they fear
that our prosperity will not be shared."
Making sure all Americans prosper in a global economy will require a sharp
break from current government policies, according to Clinton.
"I believe that we ought to hit the restart button on the 21st Century,"
Clinton said.
If elected, Clinton said, her administration would provide financial support
to schools that encourage girls and minorities to study "STEM"
subjects: science, technology, engineering and math.
She joked that Silicon Valley and Hollywood should team up to create a reality
TV show about a computer programmer or structural engineer.
"We have so many kids who want to go into forensics because they see it on TV
-- please, let's give real sex appeal to STEM!" Clinton said to laughs.
Clinton's agenda includes plans to increase federal research and development
budgets 50 percent over the next 10 years at the National Science Foundation,
the Department of Energy's Office of Science and the Defense Department. She
would triple the number of NSF fellowships and create an award structure to
encourage working engineers and scientists to teach classes and mentor
students in public schools.
Clinton called, too, for major budget increases for the National Institutes of
Health, and said she would provide tax incentives to increase the number of
U.S. homes with broadband Internet connections.
She would also establish a $50 billion "Strategic Energy Fund" that would
create a research agency focused on reducing the threat of global warming.
Clinton received the first applause of her speech when she said that her R&D
windfall and energy agency would be "paid for in part by closing the tax
subsidy and loopholes that the oil companies enjoy."
"It's almost impossible to imagine we're still subsidizing the companies that
have had the largest profits in the world,"
Clinton said.
According to the Wall Street Journal, big oil firms will also be asked to make
major new contributions to alternative energy sources either through
investment or through a federal fund.
Meantime, Clinton criticized President Bush for ignoring scientific facts on
global warming.
"A culture that values innovation requires a government that values facts,"
said Clinton, who also took issue with the Bush Administration's technology
spending priorities.
"Under the Bush Administration, spending on basic research has declined four
years in a row," Clinton said.
The senator -- who spent the morning raising money at a private fundraiser
-- largely avoided the subject of the Iraq war, and she left after her
afternoon speech without taking questions from reporters. Her support of the
war drew protesters at another private fundraiser Thursday evening.
Executives attending Clinton's speech said she hit the right tone with Silicon
Valley power brokers. Executives in the nation's technology hub -- where 53
percent of all engineers are foreign-born -- are acutely worried that many
workers will return to India, China and other countries developing homegrown
tech sectors.
"We are clearly on common ground," Adobe Systems Inc. CEO Bruce Chizen said
after Clinton's 45-minute speech and brief question-and-answer session, where
the subjects of immigration reform and alternative energy dominated.
Carl Guardino, CEO of the Silicon Valley Leadership Group, said that Clinton
is part of a new wave of presidential candidates that are coming to the region
looking for more than campaign contributions.
"Silicon Valley is traditionally the ATM machine for candidates where they
come solely for withdrawals. When they engage with the leadership group about
policy they are making a deposit," Guardino said.
He emphasized that the organization doesn't endorse candidates and has invited
all presidential hopefuls to address members. Republican candidate John McCain
spoke to an SVLG forum several weeks ago.
But Guardino noted that Clinton -- whose husband was president during the late
'90s economic boom that richly rewarded Silicon Valley tech workers -- may
enjoy an affinity with technologists.
"She has a passion for delving into policy in great detail, and that
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