Thursday, May 15, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

DOGE Put Him in the Treasury Department. His Company Has Federal Contracts Worth Millions

Simon Osuji by Simon Osuji
February 21, 2025
in Artificial Intelligence
0
DOGE Put Him in the Treasury Department. His Company Has Federal Contracts Worth Millions
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


There is some precedent for corporate executives to simultaneously work in the US government. When the US was at war in the early 1900s, the federal government recruited business leaders to fill key posts. They retained their private sector jobs and wages; the government pitched in a $1 annual salary to the executives who became known as “dollar-a-year men.” Congress later raised concerns that some of them had engaged in self-dealing.

Since then, other executives have continued to retain their jobs as they serve on government boards and commissions, typically in a part-time capacity. But maintaining a day-to-day operational role in both the federal government and at a corporation is now virtually unheard of, says David E. Lewis, a political scientist who wrote a book on appointed government bureaucrats. “Most persons in regular executive positions divest themselves of private interests before government service,” he says.

Trump, according to his company, has handed management of his businesses, including hotels and golf courses, to his children for the duration of his presidency (though he reportedly still takes meetings that have raised questions among ethics experts). Musk, who is CEO of Tesla and SpaceX and has oversight of four other companies, including X and Neuralink, has been a vocal figure in DOGE’s operations, but the White House has said he’s not actually in charge—without specifying who is leading the project. Some of the other individuals associated with DOGE are otherwise unemployed, have taken leave, or maintain dual roles but at lower levels than chief executive.

Krause is the only Trump administration official identified so far as being a CEO and a day-to-day decisionmaker inside one particular agency. After years of working as an executive at chip companies, Krause joined Florida-based Cloud Software Group in 2022. The company was created that year as part of a private-equity-backed acquisition of Citrix, followed by a merger with Tibco, another tech company. At the time, Citrix was saddled with an extensive amount of debt and generating essentially stagnant revenues, and while Tibco had not recently publicly disclosed its finances, analysts had considered the company’s outlook to be “negative.”

The US government, including state and local agencies, is expected to spend $287 billion on technology this year, or about 14 percent of overall US tech spending, according to Forrester, a research and advisory company. Whether DOGE’s efforts to boost the quality and efficiency of federal IT systems will lead that spending to increase or decrease isn’t clear. So far, DOGE has both tried to purchase emerging technologies and moved to cancel some existing contracts. But Krause’s inside access could potentially provide an advantage to Cloud Software at a pivotal moment for the company.

Over the past couple of years, Cloud Software has laid off thousands of people and faced accusations that it potentially became lax with cybersecurity. Cloud Software’s most well-known offering, Citrix, enables groups of workers to access data and run apps that are located on a remote machine. But increasing adoption of tools that can operate on any device has chipped away at some of Citrix’s dominance, according to Will McKeon-White, senior analyst for infrastructure and operations at Forrester. There are other options now, he says, including from Microsoft and smaller companies such as Island.

Cloud Software’s Tibco program, which helps workers automate tasks such as adding a new user to multiple internal databases, is often mentioned in the wrong sort of conversations these days, according to David Mooter, a Forrester principal analyst. “They tend to come up more when somebody wants to abandon them,” he says.

That said, some Cloud Software services are more affordable than alternatives for governments, and they also are better suited for the older infrastructure used by some agencies. Last year appears to have been one of Citrix’s best in a long time financially, says Shannon Kalvar, a research director for enterprise systems management and other areas at IDC. One reason for the upswing is that Citrix has put more emphasis on catering to the feature demands of its largest customers, including governments.



Source link

Related posts

The Middle East Has Entered the AI Group Chat

The Middle East Has Entered the AI Group Chat

May 15, 2025
Teaching theory of mind to robots can enhance collaboration

Teaching theory of mind to robots can enhance collaboration

May 15, 2025
Previous Post

North Korea’s Lazarus Group now using crypto gifts to breach security defenses

Next Post

Germany Buys 256 Piranha V Armored Vehicles for Tactical Network Project

Next Post
Germany Buys 256 Piranha V Armored Vehicles for Tactical Network Project

Germany Buys 256 Piranha V Armored Vehicles for Tactical Network Project

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

RockawayX launches UAE HQ, unveils Solana City to position Dubai as global blockchain hub

RockawayX launches UAE HQ, unveils Solana City to position Dubai as global blockchain hub

3 weeks ago
Al Areen Holding participates in social housing innovation summit

Al Areen Holding participates in social housing innovation summit

3 weeks ago
Legged robots skateboard successfully with reinforcement learning framework

Legged robots skateboard successfully with reinforcement learning framework

2 months ago
Crypto Scammers Are Targeting Trump’s MAGA Supporters

Crypto Scammers Are Targeting Trump’s MAGA Supporters

11 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.