December 3, 2008 Richardson: America will once again be forefront of innovation Play video

(NECN: Chicago, IL) - "This is a great honor. There are some who speak of a team of rivals, but I've never seen it that way. Past competitors, yes, but rivals implies something harder-edged and less forgiving and in the worlds of diplomacy and commerce, you open markets and minds not with rivalry but instead with partnership and innovation and hard work," said Bill Richardson this morning after being named to head Commerce by President-Elect Barack Obama.

Richardson, 61, is a former presidential campaign rival of Barack Obama.

The New Mexico governor was United Nations ambassador and energy secretary during the Clinton administration.

One of the nation's most prominent Hispanic politicians, Richardson pledged (in English and Spanish) to work to renew the economy.

Richardson still needs to be confirmed by the Senate.

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