https://www.intc.com/news-events/press-releases/detail/1718/intel-and-biden-harris-administration-finalize-7-86
26 replies (most recent on top)
8 billion will get burned up in 1-2 quarters. Intel has zero discipline and no priorities.
Well, Intel and the US Govt are at the very least committed to acting.
There’s no money guys. Read the announcement again. Sorry to spell it out.
" . . . have reached agreement on terms to award the company up to $7.86 billion . . . "
So, I'm still not clear on exactly what this PR is announcing. Has Intel actually received the money? Is it even definite that they will receive the money? What's confusing me is the "on terms" wording. Does this simply mean that Intel and the govt have agreed on a list of things Intel needs to do first (the "terms") in order to actually be given the money . . . eventually? Seems like they keep announcing stuff like this, but never actually get the money.
@tmu+1vGM9Ajb Great song by The Pretenders plus your added lyrics. Lol!!
Actually Intel losing money on this deal the 8 billion will be inflated to zero by the time the factory is built
@1uno - right. the federal government basically just handed intel money to pay the severence packages for the layoffs. how on god's green earth did the feds think its a good idea to hand a failing company money with a delusional ceo/recovery plan. its mind boggling.
Basically money needed for this year’s ISP and for the next one
This is one of many reasons the US Government is broke and deeply in debt.
intel is toast. they will burn this money up in a quarter or 2. if they don't find someone to acquire them they will be in bankruptcy court very soon. this is the last of the federal money they'll see. no idea how intel survives without a tie up to some other company that will buy intel time (and even then i think its a lost cause). amazing.
i wonder if they'll use this money to fund the next round of layoffs?
"The number one chip maker in the world will burn cash from the number one money printing in the world together. "
The US is seriously bleeped up. It cannot tell its head from its behind.
We use to have confidence and pride. Now it is some sort of daily horror show.
I am not even sure it has any sort of culture anymore.
The number one chip maker in the world will burn cash from the number one money printing in the world together. No more advanced chip can be made until Moore could come back with advanced law. Only potato chips can be fried from now on.
When Intel was innovating it shunned interverventionist trade policy but now grifts for the taxpayers money. What a scam.
Shameless!! Just shameless!! Beggars!
Fake news generator as Intel proclaims perception is reality!
Pat is our savior Amen— let's start spending launching tiger teams/projects/ new values poster - Cheers…. until the next (4-5 years out) layoffs and shutdowns.
I went back to Ohio
But my pretty countryside
Had been paved down the middle
By a government that had no pride
The farms of Ohio
Had been replaced by Intel fab parking lots...
And Muzak filled the air
From Seneca to Cuyahoga Falls
Ay, oh, way to go, Ohio
it will be fun to watch what company eventually turns on the OHIO fab..
all Intel did was destroy some barren farm/forest lands and pollute the area.
Biden Throws Struggling Rivian $6 Billion Lifeline For EV Factory
it's now just 1 big party with monopoly money
it's like the titanic has aleady hit an iceberg and it
is trying to go for a few more
They turned a forest into a barren wasteland by creating that factory. Never mind how much chemical pollution it will create. And the environmentalists and climate change people will look the other way.
Won't take long to burn through that cash and then some.
The whole thing makes me sick to my stomach.
So much shareholder value destroyed and now the US taxpayers are dragged into it.
Each US citizen's portion of the US debt is $106,000. And that does not count the unfunded future liabilities of medicare and so social security.
Pat kissed Biden's ahole and caressed some politicians' butts to get some $ in a quest to save a dying company. Was this his IFS2.0 strategy afterall?
I love corporate welfare and bailouts. When you can’t compete in the market, just hire a few politicians to steal intellectual property or sign a big stimmy check to level out your shareholders.
Intel is a loser - the Mainstream Media of tech - joining the ranks of HP and IBM of tech companies that no longer matter.
It figures that politicians would throw money at the dying companies.
Stock down 3.5%
Unless you work at Intel then nobody really cares..