San Jose--June 26, 1997--Cypress Semiconductor Corp. (San Jose) announced that Sen. Sam Brownback, (R-Kans.) will visit its headquarters on Tuesday, July 1, 1997, to make a major announcement on policy initiatives to oppose corporate subsidies.
Earlier this month, Cypress president and CEO T.J. Rodgers voiced his opposition to "corporate welfare" at hearings by the Senate Subcommittee on Oversight of Government Management, Restructuring, and the District of Columbia, a part of the Senate Committee on Governmental Affairs. Sen. Brownback is chairman of the Senate Subcommittee.
During his testimony, Rodgers argued that subsidy programs have been ineffective in improving the competitiveness of American industry and that they limit economic growth by stripping investment dollars from the private sector. Rodgers invited Sen. Brownback to Silicon Valley to hear first-hand the concerns of the area's CEOs about corporate welfare.
Attending the Brownback session will be a number of senior Silicon Valley executives. Valley executives recently endorsed a statement opposing corporate welfare that appeared as an advertisement in The Wall Street Journal and the San Jose Mercury News. Among the original signatories to the ad were CEOs Jerry Sanders of Advanced Micro Devices; LSI Logic's Wilf Corrigan; Seagate Technology's Al Shugart; and Sun Microsystems' Scott McNealy.
The Brownback session will take place at Cypress Semiconductor headquarters on Tuesday, July 1, from 12-1 p.m. A map with detailed directions to Cypress headquarters is available upon request by phone (408) 943-2612 or by fax (408) 943-6822.
San Jose, CA
Fax: (408) 943-6822
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