Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
Intel Brags of $152 Billion in Stock Buybacks Over Last 35 Years. So Why Does It Need an $8 Billion Subsidy?
What’s to stop the chip-making giant from shoveling taxpayer grants into more stock buybacks?
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.
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.
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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.
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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.
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Every two years the US votes for capitalists, then capitalist things happen, and people clutch their pearls as if this isn't precisely what they voted for.
No, that's ridiculous. Americans have a first past the post, winner take all, voting system. And we have an electoral college.
This means that Americans never vote FOR president. Then only ever vote AGAINST who they hate most of the two real candidates.
It's not really a choice when it's the only option.
Why do you hate democracy?
Half for buybacks and half for executives, lobbyist, and other corrupt programs.
Because lobbyism (a.k.a. corruption).
Lobbying is bribery. Pure. Simple.
You don’t understand.
Giving money to government officials is just a tip for appreciation and is completely legal
I wish I needed to add a /s, but it is objectively true:
One of the biggest pitfalls of buybacks is the piss-poor timing of them. You're doing good, flush with cash, and share prices are probably at a peak as a result. Shareholders would probably want to rake you over coals if you sat on cash and did nothing in order to weather a storm and perhaps do a buyback when the share prices are relatively undervalued, but you have fiduciary responsibility, so what do you do? Buy at the top and then get caught with your pants down when the shit hits the fan. Doing dumb shit to make shortsighted shareholders happy basically
They've been burning through multiple billions quarter over quarter during all those buybacks too. Sounds like poor leadership to me.
Parasites got it good. We pay them on both ends and they still price gouge us
Because otherwise, all this money would be wasted on the dissolute like homeless people or children.
That is 4.34 billion for each year
100 billion in the last 15 yeaes tho
Because MMMONEYYY!