U.S. takes 10% stake in Intel as Trump flexes more power over big business
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This is Small Government!
... Dick ...
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Us Treasury is providing capital... Hardly seizing anything.
Maybe if intel was ran into the ground by idiots. They wouldn't need to be bailed out by feds.
They were already providing capital without the seizure. So yeah, this is seizing.
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As far as government bail outs go, I think taking a portion of the company in exchange is an excellent idea. THIS orange asshole is doing it for all the wrong reasons, and will VERY likely fuck up literally everything about it, but the idea is sound.
I wonder what things would look like today if the government had taken some portion of control over all the auto manufacturers, airlines, banks, etc it has bailed out over the years instead of just giving them unsecured loans
I wonder what things would look like today if the government had taken some portion of control over all the auto manufacturers, airlines, banks, etc it has bailed out over the years instead of just giving them unsecured loans
Would look like normal capitalism of the early XIX century, give or take. Bad, but not atrocious. Bailouts definitely wouldn't be abused as much, because, eh, they wouldn't be free.
And the old argument that public sector management is inefficient - well, it's not always a bad thing. It would then make sense for the government to re-privatize some of those shares, and use others for a source of income and a lever. And the companies bailed out this way would sink in power (which is good for competition), but not completely (which is good for their employees and economical stability). And, of course, I'll repeat about source of income. Perhaps there will be no more raising taxes with such a system in place. Perhaps even some taxes it'll be possible to simplify - any complex tax system works in favor of those who can afford to apply expertise, so those richer, and not poorer.
Also partial or full nationalization may sometimes work to good outcomes, while nationalized companies are less efficient, they also tend to retain institutional knowledge better, have more people working long on the same positions, follow labor regulations. For the telephone company or the train company or the central heating company or the public bus company it makes sense to be nationalized.
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By your maths it's 10/50.01=19.99% nationalised, actually.
Yes, I've already fixed myself, it was sad
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The same way SEC stops market markers from manipulating the stocks
so they wont?
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It wouldn't, they are one big criminal family after all.
You're as bad as centrists/swing voters
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10% is not "nationalized". It's "19.99% nationalized". Need to have a majority stake (like 50.01%) to call it "nationalized".
Or maybe I'm wrong.
10% is a controlling share. The government (Trump) owns enough to make major decisions about how the company is run.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
i just got an amd card in response
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
Years of failed management rewarded with government bailout.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
Why does he always close with "Thank you for your attention to this matter"? Does he think he's got his big boy pants on or something?
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you raise interesting questions. how do you stop some asshole president from using infinite taxpayer money to manipulate the price of a stock?
I don't know if you've noticed, but they already do that with zero government money.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
so, AMD for me from now on then.
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You're as bad as centrists/swing voters
I'm worse, I'm not ever voting at all in US elections. Being a Russian citizen and never having set foot in the US.
But they are one big criminal family. I mean, yes, in the 90s Clinton and the democratic party really had sort of a plan of battle, but they dropped the ball completely. It's unfortunate, because had they not, maybe our world would really be similar to more utopian lines from sci-fi.
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Why does he always close with "Thank you for your attention to this matter"? Does he think he's got his big boy pants on or something?
Probably heard it once and thought it was cool or saw a couple of memes with it and now it’s his brain worm.
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Say goodbye to 10% of your tax dollars
The United States paid nothing for these shares
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Why does he always close with "Thank you for your attention to this matter"? Does he think he's got his big boy pants on or something?
If you had been sued as often as this guy, you'd probably be muttering random legalese in your sleep and unconsciously letting it leech into your vocab, too
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Years of failed management rewarded with government bailout.
I missed something, what did Intel get in return for 10% of their company?
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I missed something, what did Intel get in return for 10% of their company?
Your tax money
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For real, this just further cemented me not wanting to buy any new Intel devices.
So true, I've officially bought my last Intel product, though I didn't know it at the time.. A shame cause I was interested in their GPUs at maybe some point in the future. From now on it's either ARM or AMD. Can't support a company (partially) controlled by a fascism regime.
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i just got an amd card in response
Oh i've been buying AMD for a while because Intel has been rudderless for ages
