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Sandberg facing legal hazard
Suprem Court grants the motion to vacate the stay on Texas's media law, Kagan dissents.
Sandberg facing legal hazard
Meta's ad revenue > your medical privacy
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Intel CEO Pat Gelsinger tried to strong-arm Congress last week, telling CNBC that the semiconductor industry needs $52 billion in subsidies to remain compe ive, or else major microchip companies won’t invest resources in the United States. But at the same time, Gelsinger’s company and its well-connected lobbyists are pushing Congress to allow it to potentially use the subsidies to put more money into its factories outside of the country.
Plus, there is nothing in the massive subsidy bill, which also includes a major tax break for chip manufacturers and could face a Senate vote as soon as Tuesday, that would require companies like Intel to actually use the money on domestic research and development. That means the companies could instead give the money to shareholders via dividends and stock buybacks. Just last week, Intel announced a quarterly stock dividend for its investors.Intel is now holding that factory hostage. Last month, Intel canceled a groundbreaking ceremony for the Ohio plant, saying it was delaying construction due to Congress’s failure to pass the subsidies.
Gelsinger told The Washington Post last week that he "will make a decision to delay our project in Ohio” if Congress doesn’t pass the CHIPS Act.https://www.levernews.com/intel-begs-for-a-bailout/In the past decade, the four largest chip companies in the U.S., including Intel, spent nearly a quarter trillion dollars — over 70 percent of their combined profits — on manipulating their stock price and delivering cash to shareholders via stock buybacks.
Intel has continued to pay dividends to its shareholders even as Gelsinger has said publicly that the company needs government subsidies to invest in manufacturing.
Facebook Approved Pro-Genocide Ads in Kenya After Claiming to Foster 'Safe and Secure' Elections
Kenya's national cohesion watchdog has threatened to suspend the social network from the country in a week if it doesn't mitigate hate speech.
Facebook’s approval of ads advocating for ethnic cleansing.
“They have allowed themselves to be a vector of hate speech and incitement, misinformation and disinformation,”
the company approved ads run in both English and Swahili crafted specifically to instigate ethnic violence in Kenya,
Meta approved ads on Facebook in both Swahili and English that included
calls to rape and behead Kenyan citizens along ethnic lines.
https://gizmodo.com/facebook-kenya-p...ion-1849348778
Spent too much money on stock buybacks and dividends, not enough on engineering and execution. And now Uncle Sam has to pay through the nose to help Intel compete.
Case in point:
The talk of the semiconductor world right now is how Intel’s business has exploded overnight in Q2 of 2022. Intel has reported a net loss of $454,000,000 in Q2 2022. This is Intel’s first GAAP net loss in over 30 years. The Covid work from home and datacenter booms allowed Intel to cover the rot of the core businesses of design and manufacturing semiconductors for 2 years.https://semianalysis.substack.com/p/...ldout-by-4b-toIn the face of Intel’s first net loss in over 30 years, Intel’s executives have decided their shareholders short term pocketbooks are more important than the company
Finally, we paid dividends of $1.5 billion, a 5% increase year-over-year, and remain committed to growing the dividend over time.David Zinsner, Intel CFO, 7/28/2022 at Intel’s Q2 2022 Earnings CallWe wouldn’t mind the action of continuing to pay dividends and growing them over time if it that didn’t affect their fab buildouts and turnaround plans.
We are also lowering core expenses in calendar year '22Pat Gelsinger, Intel CEO, 7/28/2022 at Intel’s Q2 2022 Earnings CallCapEx, we're revising down our forecast to $23 billion, $4 billion less than our previous guidanceDavid Zinsner, Intel CFO, 7/28/2022 at Intel’s Q2 2022 Earnings CallIntel paid a quarterly dividend of $1.5 billion in Q2, they expect to pay that much or more for Q3 and Q4 of 2022. That is a minimum of $4.5 billion dollars paid in dividends. Compare that to the $4 billion reduction in capital expenditures which are mostly related to building fabs. Intel will try to waffle about gross vs net capex, but their direct spending is being reduced.
More immigration would be a good thing
crybully meltdown
Cory Doctorow on the CA an rust lawsuit against Amazon
Amazon, Google and Facebook think they can boss countries around.
LMFAO WH's own echo chamber of a thread
what is a bulletin board?
Voters Approve of Migrant Busing, Want Secure Border
misfiled
Long form Mike Masnick on the 5th Circuit's recent Calvinball decision on Texas SB 20
https://www.thedailybeast.com/judges...d-from-twitterAs First Amendment lawyer Ken White noted back in the comparatively innocent days of November 2016, regarding Donald Trump’s call to open up our libel laws, “You can go shopping for judicial candidates whose writings or decisions suggest they will overturn Roe v. Wade, but it would be extremely difficult to find ones who would reliably overturn [key First Amendment precedents.]”
But then Twitter banned former President Trump in the wake of the Jan. 6 attack on the Capitol.
And, suddenly, a large part of the conservative world began arguing that the First Amendment might no longer apply to companies.
Last edited by Winehole23; 09-24-2022 at 12:01 PM.
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