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Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
(www.commondreams.org)
this post was submitted on 26 Oct 2024
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Intel is part of a small number of companies that are strategically important for the US to keep posturing in front of China and the EU, like Boeing or SpaceX.
Those companies know the US government will never let them fail: even if they're driven to bankruptcy by the most stupid management, they'll get taxpayer's money - i.e. OUR money - in the form of subsidies to bail them out.
Therefore, to answer your question, they need $8bn in subsidy because they deliberatively placed themselves in a position to request money from us that they know will be granted.
Hell, if I knew however much money I spent, someone would always foot the bill if I ran out, I too would spend like no tomorrow in order to get more money for free. It's plain logic.
If they are too big to fail, then they need to be nationalized.
All of these companies have two things in common: they socialize risks and liabilities and privatize profits.
Or be broken up.
Boeing, space x, and Intel.
All terrific companies with excellent management and absolutely nothing bad about them whatsoever.
They once did a good thing that one time - and were American, at that moment at least. -Ish.
Also they may have spent $158B on stock buybacks, but company is worth $96B. They lost a lot of money on those buybacks. Down about 70% over last 3 years.
Why did $manager hire two more people? We don't need them, half the team has no idea what they're doing here and are just fucking around all day already.
Yeah but he still has some budget left, and if he doesn't spend it all next year he'll get less, and we can't have that.