Obama Nears Appointment Of Eric Schmidt As Commerce Secretary

The word in Washington is that President Barack Obama is close to naming departing CEO Eric Schmidt as the nation's next Secretary of Commerce.

Schmidt picked up an important vote of confidence earlier this week when former Reagan Administration Commerce Department counsel Clyde Prestowitz essentially endorsed Schmidt for the job. That didn't happen by accident and it's a strong signal that the GOP DC establishment will support a Schmidt appointment. Such support would almost certainly insure a smooth confirmation process.

A final decision is expected within the next two weeks. The outgoing Commerce Secretary, former Washington Governor Gary Locke, was nominated by President Obama to serve as the US Ambassador to China. Schmidt is scheduled to step down from his position as CEO of Google on April 4.