US President-elect Barack Obama named New Mexico Gov. Bill Richardson as commerce secretary on Wednesday, placing a second former campaign rival in his new Cabinet. Obama called Richardson a leading "economic diplomat for America. 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." Richardson, 61, was 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 as a congressman.