The Trump administration has discussed taking a 10 percent stake in Intel as part of a government-backed effort to revive the troubled U.S. chipmaker and bolster domestic semiconductor manufacturing, said three people familiar with the talks who spoke on the condition of anonymity.
The discussion has included converting $10.86 billion in recent federal grants into equity in Intel, which is worth about $100 billion, two of those people said.
The proposal would be among the largest government interventions in a U.S. company since the rescue of the auto industry after the 2008 financial crisis. To prevent the collapse of Chrysler and General Motors, the government poured tens of billions of dollars into the companies and helped them reorganize. The maneuver is believed to have saved more than a million auto industry jobs.
This really is creeping socialism. With government ownership comes control. With control, the workforce will be hired based on racial quotas not who can do the job the best..
