HP warns, Silicon Valley could be next Detroit

At a time when the banking and automotive industries dominate the news cycle, Hewlett-Packard is trying to get the tech sector some attention – and...

At a time when the banking and automotive industries dominate the news cycle, Hewlett-Packard is trying to get the tech sector some attention – and dollars. Top level execs are warning government officials that Silicon Valley could become the next Detroit (gasp!), if the government doesn't pour more money into tech.

Newsweek reports:
These include top executives at Hewlett-Packard, who are ringing an alarm bell about what they see as a looming disaster, not just for HP, but for the entire U.S. tech industry. They say that unless we boost government spending on science, technology, engineering and math -- STEM, in industry jargon -- we will be unable to keep up with countries such as China and India.

At some point, companies such as Apple, Cisco, HP, IBM, Microsoft and Oracle could be eclipsed by foreign rivals, just as Ford, General Motors and Chrysler have been.

President Obama – dubbed the country's first ‘wired’ president – will likely keep the tech sector top of mind. But HP’s not taking chances and wants to make sure tech isn’t forgotten when stimulus funds are doled out. Strategic move or alarmist stunt?

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