Intel announces $8.9 billion investment from US government, which will own 9.9% of chipmaker
Source: Yahoo Finance
The US government has taken an $8.9 billion, 9.9% stake in Intel (INTC), buying 433.3 million shares in the chipmaker at a price of $20.47 per share.
The governments investment in Intel will be passive ownership, with no Board representation or other governance or information rights, Intel said in a statement. Intel said the government also agreed to vote with the company's Board of Directors.
Read more: https://finance.yahoo.com/news/intel-announces-89-billion-investment-from-us-government-which-will-own-99-of-chipmaker-180452175.html
Wait! I thought Republicans screeched at the government "picking individual companies" to invest in??
I guess that only applies to a Democratic administration.

SeattleVet
(5,723 posts)In fascist states, corporations are not independent entities but are integrated into a corporatist system where the state directs and manages economic activity to serve national interests. Rather than free-market principles, fascism emphasizes the subordination of private enterprise to state control, with corporations often organized into state-controlled councils and their activities aligned with the regime's political and economic goals, such as militarism and national expansion.
markodochartaigh
(3,709 posts)Inverted totalitarianism is becoming easier to see now that it is starting to bloom. The seeds were the revolving doors between corporate boardrooms and government agencies and the resulting regulatory capture. But now under the most unabashedly authoritarian regime the US has ever had we can expect to the full panicles in bloom.
underpants
(192,349 posts)I dont know.
popsdenver
(292 posts)defines FASCISM as the Merger of Corporations and Government............
Citizens United allowed Corporations to finance elections overwhelmingly for the Republicans.........
Republicans.......the best politicians corporate money can buy............and here we are folks..............
jfz9580m
(15,813 posts)I remember it vaguely.
I thought it was 2007. But I was mixing up the Military Commissions Act with CU.
The repeal of Glass Stegall act was another big one. The so-called power of the internet seems useless when all this is out there but the slide continues.
Had to look em all up..
https://en.m.wikipedia.org/wiki/Glass%E2%80%93Steagall_legislation]
The Glass-Steagall Act, passed in 1933, separated commercial banking from investment banking to protect depositors and reduce the risk of financial speculation. It aimed to restore public confidence in the banking system following the Great Depression and was largely repealed in 1999.
https://en.m.wikipedia.org/wiki/Citizens_United_(organization)]
Citizens United refers to a landmark 2010 U.S. Supreme Court case, Citizens United v. Federal Election Commission, which ruled that corporations and unions can spend unlimited money on political campaigns, viewing such spending as a form of free speech protected by the First Amendment. This decision significantly changed campaign finance laws and increased the influence of money in politics.
https://en.m.wikipedia.org/wiki/Military_Commissions_Act_of_2006]
The Military Commissions Act is a U.S. law that was enacted in 2006 to authorize military commissions for trying individuals accused of violating the law of war, particularly foreign terrorists. It established procedures for these trials and defined who could be tried, but was later amended by the Military Commissions
popsdenver
(292 posts)Great info for all of us................
markodochartaigh
(3,709 posts)Conservatism consists of exactly one proposition There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.
underpants
(192,349 posts)Ill never remember that but its spot on
popsdenver
(292 posts)Thx Marko, for sharing.........very eloquent!!!!!!!!!
Prairie Gates
(5,968 posts)
surfered
(8,711 posts)While private ownership of the means of production is capitalism ?
I guess were Russia now?
markodochartaigh
(3,709 posts)Russia today is neither socialist nor communist. Russia today is an authoritarian oligarchy, like what our oiligarchs and maga wants to turn the US into.
popsdenver
(292 posts)with Hitler and Putin providing the Republicans with a model and game plan...........
Cheezoholic
(3,225 posts)Specifically a very few Monopolistic Controllers of the economy that let the Autocratic regime share directly in their wealth for a share of autocratic power, , who use that economy, and forcibly use the underclass people to generate and fight for it if necessary, in a quid pro quo that benefits their bottom line and the Autocrats thirst for social dominance. It requires sharing between the two to put it bluntly and is often where fascistic regimes end up cleaving themselves, a civil war of at the top power level. At least that's how I remember it being taught to me in college .
msongs
(72,165 posts)markodochartaigh
(3,709 posts)"republicans used to believe the govt should not pick winners and losers".
That's a good one!
Have you heard the one about "Republicans care about small businesses"?
Another hilarious one I heard was that "Republicans are the party of law and order".
Seriously, who writes this stuff?!?!
rubbersole
(10,308 posts)bucolic_frolic
(52,026 posts)Then that was sullied. Now investment. hmm
sabbat hunter
(7,030 posts)or ran corporations? Sounds a lot like China and Russia. Also how is trump personally benefiting from this move? We all know nothing he does is without him gaining some sort of monetary benefit.
turbinetree
(26,474 posts)and the family getting a sack of potatoes..........you can buy Intel stocks but you can't give people health care, education, clean air and water....
Blue Full Moon
(2,657 posts)It was part of Biden's chip act. Trump's tariffs and wanting to stop it. Intel said that sells just inside the US wasn't enough to go ahead with the project. So he is just trying to re package it as a win for him.
Blue Full Moon
(2,657 posts)
Wonder Why
(6,082 posts)Hear Ye! Hear Ye! In the case of the United States vs the United States, the following case will be heard!
For the Prosecution, Pam Bondi will be representing the United States. For the Defense, the Attorney General Pam Bondi will be representing the United States. Attorney General Bondi will make the opening statement for the Prosecution, followed by Attorney General Bondi making the case for the defense.
Ms. Bondi: "The Prosecution intends to show that by owning a part of the company it is regulating, it has a conflict of interest which is a violation of Title XVIILCD Section 723 Subsection a.b and c and I ask the jurors to listen carefully to all the testimony we present and return a verdict of guilty"
Ms. Bondi: The Defense intends to show that by owning a part of the company it is regulating, there is no conflict of interest and therefore no violation of Title XVIILCD Section 723 Subsection a.b and c and I ask the jurors to listen carefully to all the testimony we present and return a verdict of not guilty"
IthinkThereforeIAM
(3,207 posts)... otherwise Intel is just, "gubment chips". The hicks called GM: Gubment Motors
Marcuse
(8,639 posts)
Bluetus
(1,419 posts)$8.9 billion ain't nothing.
C_U_L8R
(47,920 posts)Or does that go to one of his idiot children?
And what will happen to companies that choose not to use Intel chips?