Google Inc chief executive Eric Schmidt said Friday he would not serve as technology czar in Barack Obama's administration if he were asked.
"I love working at Google and I'm very happy to stay at Google, so the answer is no," Schmidt said in response to a question from CNBC host Jim Cramer in an appearance on his television show. Schmidt, who was one of the president-elect's most high-profile supporters, was in Chicago Friday as part of Obama's 17-person economic transition economic advisory board. The group met to discuss how to deal with the ongoing financial crisis. Schmidt said he detected a sense of urgency in Obama, who he expects to "listen carefully" and act.
Google is the dominant player in Internet search advertising. "Advertising is one of the first things that get cut, and its almost always a mistake, because you advertise to get revenue." However, Schmidt said he expects advertising to bounce back quickly. Shares of Google closed the regular session down 8 cents at $331.14.
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