Bill Richardson Withdraws Commerce Bid -- Time to Call Leo Hindery

I only have time for a short comment as I'm heading to the airport to fly to Europe, but Commerce Secretary nominee Bill Richardson has withdrawn from his appointment because of an ongoing grand jury investigation into whether he traded New Mexico government contracts for campaign contributions.

Here are the statements from Barack Obama and Bill Richardson:

STATEMENT OF PRESIDENT ELECT BARACK OBAMA

It is with deep regret that I accept Governor Bill Richardson's decision to withdraw his name for nomination as the next Secretary of Commerce.Governor Richardson is an outstanding public servant and would have brought to the job of Commerce Secretary and our economic team great insights accumulated through an extraordinary career in federal and state office. It is a measure of his willingness to put the nation first that he has removed himself as a candidate for the Cabinet in order to avoid any delay in filling this important economic post at this critical time. Although we must move quickly to fill the void left by Governor Richardson's decision, I look forward to his future service to our country and in my administration.

STATEMENT OF GOVERNOR BILL RICHARDSON

For nearly three decades, I have been honored to serve my state and our nation in Congress, at the U.N., as Secretary of Energy and as governor. So when the President-elect asked me to serve as Secretary of Commerce, I felt a duty to answer the call.I felt that duty particularly because America is facing such extraordinary economic challenges. The Department of Commerce must play an important role in solving them by helping to grow the new jobs and businesses America so badly needs.

It is also because of that sense of urgency about the work of the Commerce Department that I have asked the President-elect not to move forward with my nomination at this time.I do so with great sorrow. But a pending investigation of a company that has done business with New Mexico state government promises to extend for several weeks or, perhaps, even months.

Let me say unequivocally that I and my Administration have acted properly in all matters and that this investigation will bear out that fact. But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process.Given the gravity of the economic situation the nation is facing, I could not in good conscience ask the President-elect and his Administration to delay for one day the important work that needs to be done.

So, for now, I will remain in the job I love, Governor of New Mexico, and will continue to work every day, with Lieutenant Governor Diane Denish, to make a positive difference in the lives of New Mexicans. I believe she will be a terrific governor in the future.I appreciate the confidence President-elect Obama has shown in me, and value our friendship and working partnership. I told him that I am eager to serve in the future in any way he deems useful. And like all Americans, I pray for his success and the success of our beloved country.

So, that's the second person who didn't make it through the process. Penny Pritzker was the first in line, but she also removed her name.

I think that the Obama team needs someone who understands the economy and the vital need to reinvest in high wage job growth creation, who understands the importance of redesigning America's domestic social contract between labor, firms, capital and government, and who is familiar with business -- and liked by labor.

There are very few who fit that bill, and Leo Hindery -- who was senior economic advisor to the John Edwards campaign and then was an economic advisor to the Obama campaign as well and authored the interesting book It Takes a CEO -- is a real stand out who the Obama team should consider for Commerce.

-- Steve Clemons publishes the popular political blog, The Washington Note

Comments

[beaupritchard]

Actually why not Ross Perot ...

[dsbathome]

I can see stores on my commute to work, I can be Sec of Commerce.

[beaupritchard]

Aahhh ... It was you that predicted there would be a giant sucking sound if congress ratified NAFTA.

[Michael Gene Sullivan - Huffpost Blogger]

I feel that the for-profit philosophy is fine for a well regulated market, but is antithetical to the very concept of representative government. Government as a business is what has gotten us into repeated economic, environmental, and sociological messes for decades. The fact is:

"Government is not a business"
http://www.huffingtonpost.com/michael-gene-sullivan/government-is-not-a-busin_b_86931.html

[InformedVoter2009]

I disagree strongly with your assertion that Leo Hindrey would be an effective Secretary of Commerce. Mr. Hindrey has long shown an affinity for M&A transactions, regardless of the short- and long-term results. He is enamored of the deal, the players, and his ability to name-drop. Unfortunately, he is a light-weight when it comes to adding value. I'm certain that Obama will have no trouble finding a very strong replacement for Gov. Richardson.

[knowBuddhaU]

Well said, informedvoter2009. I suspect the same things of the author.

schatsie, I'm with you: Hightower, or someone like him, could bring the change we voted for, instead of more crony capitalism.

Remember, Clemons himself broke the story about McCain and Obama meeting to agree names of appointees well before the election. Where's that list right now? Who else is on it? Who isn't on it that should be?

We say we elected Obama, we say he is our president, but he is not ours alone. There are very heavy, willing-to-kill pressures on him not to change our broken system.

[Doofus]

Leo Who?

Probably going to be Gov Deval Patrick of Massachusetts.

[Giordano Bruno]

Leo Hindery is a tremendous choice. This is the classic case of the runner up being a better choice overall. Sure Bill Richardson is a terrific guy. He is a very accomplished leader, but economics is not his forte. It is on the other hand Leo's.

Not only that Steve, but Leo is as ethical as the day is long. He really cares about the kind of America we used to have. Some of the best lines used in the Edwards campaign, the ones that sizzled with the middle class, were Leo's.

Leo is a rare breed. His book about the need for CEO's to take the long view, to be ethical and compassionate is superb. It should be required reading in MBA programs. Leo might be the answer to the "invisible hand." He is a tireless worker, very well read, and very successful. It would be a shame to miss on him. The young president has an opportunity to select a real winner with Leo Hindery.

Giordy

[PhilTListener]

My only knowledge of Hindery was with his years in the Telecommunications industry.

He headed Tele-Commu­nications, Inc. (TCI) before it was merged into AT&T in 1999, when he became CEO of AT&T Broadband. Eventually Comcast bought out AT&T Broadband.

Later, he was briefly interim CEO of Global Crossing, a company that underwent bankruptcy recovery due to corporate abuse, although this took place after Hindery left.

I questioned Hindery's timing on leaving Global Crossing. Not long after his departure is when things went sour. Perhaps it was coincidence, but I wondered what he knew of the situation within the company, and what he didn't disclose about it.

Global Crossing was very similar to Enron in that people (including GC employees in their 401(k)s) lost a lot of money when they went bankrupt, and the executives were crooked. They hyped it even as they were aware things were going south.

I personally lost a large investment (more than 25k but less than 50k) in the stock.

Again, I am not doubting Hindery's integrity, it just seemed very coincidental when it happened.

[ckfan]

"...that's the second person who didn't make it through the process."

Steve, this statement is misleading. Penny's name was never put into nomination to go through the process. She wasn't offered the Cabinet post only to withdraw her name. It was never offered to her.

[Quixotic2]

John Edwards never had a theme about the economy. It was only some beauty pageant-like statement to end poverty. Being the economic influence behind that superficial message is not a sufficient reason to be chosen as Secretary of Commerce.

[gba]

Leo Hindery was a key adviser to John Edwards until he withdraw in the end of January 08

[CosmicChaos]

What about Paul Krugman? The Nobel Prize winning Economist.

[ckfan]

He has no interest in a Cabinet post or government position He's an academic. And wants to keep it that way. However, he is overly qualified for a post such as this.

[petey64]

Yeah right overly qualified, let's see him make decisions rather than critique others then we can judge whether the guy is smart or just another critic.

[schatsie]

I want Jim Hightower, a real progressive from Texas and a good friend of Molly Ivens...We need more progressives.

[Drdemocrat]

Not familiar with this person but it sounds good to me.

[ckfan]

If you're not familiar with this person, then why does it sound good to you???? Just because someone else gave their opinion? Do your research. Draw your own conclusions.

[independentjukebox]

as one body falls a new warmer one is quickly summoned without an attempt at calling out Richardson.

Kinda gets boring when our side only talks about the bad right and is blind to our own corruption. why did we not investigate all of the cabinet to be appointees?

[mlaiuppa]

At this point I'm thinking..­..who would want the job? I think it's scaring candidates off.

[serindipity803]

Glad for the quick info -- I was floundering about since I didn't know much about anyone qualified to step in. He or she is out there somewhere. Thanks.

[vjoseph]

Thanks for answering my question, Steve

[Steve Clemons - Huffpost Blogger]

Hi vjoseph -- not sure if i missed the question. Am leaving for airport but happy to answer your query.

All the best for the new year,

steve clemons