Obama Names Gov. Richardson to Head Commerce

President-elect Barack Obama selected New Mexico Gov. Bill Richardson as his commerce secretary Wednesday, naming a prominent Hispanic to his new Cabinet and calling him a leading "economic diplomat for America" in troubled times.

Richardson's nomination brings to three the number of former campaign rivals Obama has welcomed to his team. Joe Biden is the vice president-elect, and Hillary Rodham Clinton will be the next secretary of state, pending confirmation by the Senate.

At a Chicago news conference, Obama praised Richardson's long resume. He served as United Nations ambassador and energy secretary during the Clinton administration, and he is in his second term as New Mexico's governor. He also served seven terms in the House of Representatives.

"During his time in state government and Congress, and in two tours of duty in the Cabinet, Bill has seen, from just about every angle, what makes our economy work and what keeps it from working better," Obama said.

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The president-elect seemed in a lighthearted mood as he made the announcement.

Asked about Richardson's recent decision to shave his beard, Obama joked that he was "deeply disappointed." He guessed that Richardson decided to jettison the facial hair after his wife found it scratchy.

Obama turned serious when talking about the economy, pointing to news that the country has been in recession for a year and that manufacturing production is at a 26-year low. Said Obama: "With each passing day, the work our team has begun, developing plans to revive our economy, becomes more urgent."

Despite the crisis, he struck an optimistic tone, saying: "I am more confident than ever that we have everything we need to renew our economy. We've got the ingenuity, the technology, the skill and commitment, we just need to put it to work."

Richardson pledged — in English and Spanish — to work to renew the economy when he is confirmed by the Senate to take over the sprawling department that oversees the National Weather Service, the Census Bureau, economic development programs and more.