Cisco looking for federal stimulus money

Cisco is looking for about $1 billion in federal bailout money, according to a report in the Raleigh, N.C., News & Observer. The company expects the U.S. government to fork over $47 billion to high-tech.

Bruce Klein, a Cisco senior vice president, is charged with making sure Cisco gets that share of the money. Cisco can't receive it directly, but only through projects tied to local and state governments that are financed by the stimulus funds, the N&O reports.

So Klein put together teams across Cisco to identify business opportunities with local and state government agencies and other public sector organizations.

Cisco is not alone in looking to capitalize on the influx federal stimulus funds. General Electric and IBM are also lining up stimulus-backed government contracts, the N&O reports.

But should companies shipping jobs to offshore facilities and contractors be eligible to bid on contracts financed by federal stimulus funds?

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