Comment by fluoridation
6 months ago
Why would the government need to "demand" to buy a piece of a publicly-traded company? Is 10% of Intel more than what is being traded in the public market?
6 months ago
Why would the government need to "demand" to buy a piece of a publicly-traded company? Is 10% of Intel more than what is being traded in the public market?
As I understand it, the government didn't pay anything for these shares.
"purchasing 433.3 million shares at a price of $20.47 per share" in the article. That was the price a day or so ago
From my understanding, these funds were already approved by the Biden Administration via the Chips act and another. Our president managed to obtain 10% of the shares for this money that was already going to intel in exchange for removing a clawback provision stipulated by the Chip’s act.
Norway has an incredible sovereign wealth fund that funds many benefits for its citizens. Perhaps if the Intel dividends are used for social security benefits, there will be bipartisan cheering.
Why does this keep coming up?
They're paying the rest of the CHIPS Act money. Overall, they're putting in over $10B into Intel.
Where in the bill passed by Congress does it say taking funds entitles the government to 10% of the company 3 years after the fact?
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> They're paying the rest of the CHIPS Act money. Overall, they're putting in over $10B into Intel.
So taking a scholarship means you're giving a % of yourself to the school?
Was this ever mentioned when Intel signed up? Did you know about it?
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