Break Up Intel!

NEW YORK (TheStreet) -- I didn't start this blog to become the Intel (INTC) desk.

But ever since I began writing for TheStreet, I have found myself pounding the table about Intel's problems.

I was very explicit about them on Sept. 18, but I found myself returning to the theme twice just this month, on Nov. 7 and Nov. 9.

What do I have against Intel, you might ask? Do I have a personal vendetta against the company?

Uh, no. I love Intel. It's the most important company founded in the second half of the 20th century -- more important than Apple (AAPL) and Microsoft (MSFT) combined, because the Intel microprocessor enabled both companies.

But as I've previously noted, the 21st century is passing Intel by.

In an age of devices, manufacturers are demanding more control over design and a product's use than a merchant chipmaker can give them. Now there are indications that Intel's management is hearing the message, with the sudden decision by CEO Paul Otellini to retire three years before he has to, as Newser reports.

Did he jump, or was he pushed? Since Otellini took command in 2005 Intel shares have gone nowhere, and it has become a dividend stock with a current yield of over 4%. So probably it's a little of both. Otellini is a fine man, an excellent manager, but he's no visionary like Andy Grove or (God knows) Gordon Moore. Under Otellini the trains run on time, the budgets are met, the road map unfolds year after year like clockwork.