Or take the CHIPS ACT money back? Getting money to create jobs then soon after announcing that you're eliminating thousands of positions seems like a breach of contract to me.
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News flash… those “announcements” were preliminary agreements/commitments.
The government has not paid out a dime yet.
"News flash… not a single company has received a cent from the CHIPS Act yet."
News flash.. you're wrong.
https://www.theverge.com/24166234/chips-act-funding-semiconductor-companies
News flash… not a single company has received a cent from the CHIPS Act yet.
Get rid of H1B first please.
The government needs a USA based fab, more specifically the DOD. Globalization is over. The race to build out AI is just beginning. If you can’t fab it, you have to buy it, if someone is willing to sell it to you. No way the government lets Intel fail, downsized yes, but no way does Intel disappear.
what makes you think there is a difference between the government and the majority shareholders of intel
i suspect those majority shareholders donate to those politicians' campaigns
i suspect those majority shareholders control enough media outlets to present those politicians in a favorable misleading light
Link to documents? I am curious to read more about this.
I had thought this was to onshore chip manufacturing. If that is the case, then there must be some timelines specified as to when they must tool new manufacturing facilities.
Citizens can file Qui Tam lawsuits on behalf of the government to report misuse and fraud of American funds (CHIPS Act funds). Whoever reports the misuse can receive up to 15-30% of any funds recovered. Here's a few articles.
https://bflawfirm.com/qui-tam-and-false-claims-act/
https://whistleblowersblog.org/false-claims-qui-tam-news/government-intervenes-in-qui-tam-whistleblower-suit-alleging-massive-fraud-at-hanford-nuclear-site/amp/
https://cis.org/North/Whistleblower-Lawsuit-Uncovers-Massive-H1B-Fraud
This is another useless, worthless, and clueless Intel employee. They are the reason why Intel is in the toilet. CHIPs money is actually tax write-offs and rebates. The government didn't write any company a check... they just gave them tax offsets (basically free money). If they didn't spend the money, they don't get any tax offsets.
Inspiring semi manufacturing is the primary goal of the CHIPS Act. Creating jobs is just political window dressing.
The money is going to create jobs at the fabs ... these layoffs will get rid of a different type of employee... marketing, product teams etc. Not in breach, they are within their rights to rightsize in order to be competitive. The company is very fat, this is necessary.
CHIPS ACT was helicopter money with no strings attached. Berny Sanders wanted to impose handrails and restrictions on how to qualify for the money, but nobody listened. So there you have it… these are the consequences of giving away free money with no strings attached.
Correction, should have been “wasn’t” … the money wasn’t to create jobs. Also, what contract?
The money was to create jobs. Go read the document.