AMD CEO Hector Ruiz Tells U.S. Congress His Thoughts
Posted: Thu Feb 09, 2006 8:27 am
AMD CEO HECTOR RUIZ ADVISES Congress that Innovation, Competition are KEYs to Ensuring U.S. Competitiveness in 21st Century
- Warns U.S. Leadership at Risk in Globalized Economy -
- Cites Increased Federal Support for Research and Education; Fair and Open Competition as Critical Success Factors in Testimony Before House Committee on Government Reform -
- Warns U.S. Leadership at Risk in Globalized Economy -
- Cites Increased Federal Support for Research and Education; Fair and Open Competition as Critical Success Factors in Testimony Before House Committee on Government Reform -
WASHINGTON, D.C. - Feb. 9, 2006 - Innovation and competition are vital
to U.S. competitiveness in the 21st century, said AMD (NYSE: AMD)
Chairman and Chief Executive Officer Hector Ruiz in testimony before the
U.S. House of Representatives' Committee on Government Reform today.
"Here's the bottom line: You can't have competitiveness without
competition," said Ruiz. "All the investment, research and specialized
education in the world won't amount to a growing, dynamic economy
without competition."
Ruiz continued, "Competition is the heart and soul of innovation. It's
what drives us to turn innovation into real advantages for consumers and
citizens. That's the key to U.S. competitiveness in the 21st century,
and we have a responsibility to ensure that no one is sheltered from
it."
In his testimony, Ruiz outlined three keys to enhancing U.S.
competitiveness. "First, fair and open competition is essential to our
country's competitiveness. Second, government procurement practices
should act as a model for fair competition - obtaining the best possible
technology for the lowest possible cost on behalf of taxpayers. And
finally, investment in K-12 education is the best way to make sure that
we have a competitive society - not just competitive economic sectors."
Citing the results of a recent AMD-commissioned study by R. Preston
McAfee, J. Stanley Johnson Professor of Business, Economics and
Management at the California Institute of Technology, Ruiz told
Committee members that brand-name specifications in government
procurement contracts for computer hardware have potentially cost
American taxpayers upwards of $563 million. He asserted that the public
sector should serve as an example of fair and open competition for the
private sector, and that the U.S. government should adopt
performance-based specifications in federal procurement contracts.
He also urged members of the Committee to invest in the future by
improving the nation's public education system and promoting ongoing
workforce training, increasing federal investment in basic research and
development, making the research and development tax credit permanent,
and building a public policy infrastructure that encourages and supports
innovation in both the public and private sector.
Ruiz called upon leaders in the private sector to form collaborative
partnerships with other leaders in business, government and academia
around the world to advance these goals. He pointed to AMD's
groundbreaking 50x15 initiative, a commitment to empower 50 percent of
the world's population with affordable Internet access by the year 2015,
as an example. Ruiz explained that America's future competitiveness is
directly intertwined with the success of other nations. He said the
United States should encourage other nations in their efforts to grow
their economies and enhance their own competitiveness, because more
competition will benefit all in the end.
For a copy of Mr. Ruiz's written testimony, please visit
http://www.amd.com/breakfree.
AMD's Position on Fair and Open Competition
AMD stands for fair and open competition and the value and variety
competition delivers to the marketplace. Innovative AMD technology
allows users to break free to reach new levels of performance,
productivity and creativity. Businesses and consumers should have the
freedom to choose from a range of competitive products that come from
continuous innovation. When market forces work, consumers have choice
and everyone wins. For more information, please visit
http://www.amd.com/breakfree.
About AMD
Advanced Micro Devices (NYSE: AMD) is a leading global provider of
innovative microprocessor solutions for computing, communications and
consumer electronics markets. Founded in 1969, AMD is dedicated to
delivering superior computing solutions based on customer needs that
empower users worldwide. For more information visit http://www.amd.com