Latest / Chuck Douglas / Government 10 percent stake in Intel

Transcript

Government 10 percent stake in Intel · Chuck Douglas

• 0:00
  Speaker 1: Before I get into the intel thing. This just popped
• 0:02
  Speaker 1: up here at the bottom of the hour as I'm
• 0:03
  Speaker 1: scrolling through all the news stories. Is evil is all over.
• 0:07
  Speaker 1: It's all over, evil people doing evil things. And you know,
• 0:10
  Speaker 1: the people who are in charge the government, the officials,
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  Speaker 1: the elected folks, they keep thinking, Okay, well we'll just
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  Speaker 1: pass laws.
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  Speaker 2: No, see, you don't understand. The bad people don't care
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  Speaker 2: about your laws. They don't.
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  Speaker 1: You can ban, ban silencers and bump stocks and thirty
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  Speaker 1: round magazines. You can ban assault weapons, you can ban
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  Speaker 1: ghost guns. Ban, you can ban, you can ban, you
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  Speaker 1: can be by the way, there was a stabbing in
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  Speaker 1: Columbus over the weekend. You can ban anything you want.
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  Speaker 1: But the people who were committing these crimes, they don't
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  Speaker 1: care about your bands. They don't care about your laws.
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  Speaker 1: They're crazy, doing crazy, evil, violent things to society. That
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  Speaker 1: being said for ABC News just about half an hour ago,
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  Speaker 1: it was posted I'm sorry forty nine minutes ago. Headline
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  Speaker 1: tells us one dead, six injured after gunman opens fire
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  Speaker 1: on sidewalk. They call it sickening, an unacceptable gum and
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  Speaker 1: open fire with a high velocity rifle at a group
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  Speaker 1: standing on a sidewalk in Minneapolis on Tuesday, killing one
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  Speaker 1: person injuring six others. At least one of the seven
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  Speaker 1: victims appears to have been the target of the shooting,
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  Speaker 1: according to police Chief Brian O'Hara, who called the incident
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  Speaker 1: deeply troubling.
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  Speaker 2: The level of.
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  Speaker 1: Firepower unleashed in broad daylight is completely sickening and unacceptable.
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  Speaker 1: You laugh, you laugh, you laugh because it's a stupid statement.
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  Speaker 1: Who cares about the level of firepower. If it was
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  Speaker 1: a pump shotgun holding five twelve gage shotgun shells, he
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  Speaker 1: could have still hit six people on a sidewalk in
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  Speaker 1: many A. But you gotta make it sound scary, don't
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  Speaker 1: you cheat. This level of firepower unleashed in broad daylight
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  Speaker 1: is completely sickening and unacceptable. The gunman fled in a
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  Speaker 1: vehicle and remains at large. That she said, authorities are
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  Speaker 1: working to identify the suspect. Victims had been standing in
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  Speaker 1: a group on a sidewalk across the street from a
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  Speaker 1: Catholic high school. Minneapolis police responded to the scene after
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  Speaker 1: receiving a notification from the Gunshot Detectives Detection System shot
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  Speaker 1: Spotter about one thirty pm, approximately thirty rounds of gunfire
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  Speaker 1: had been fired. We got to work the thirty rounds
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  Speaker 1: in because we gotta say AR fifteen without saying AR fifteen.
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  Speaker 2: Zach, you understand how it works.
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  Speaker 3: I was hiding under the desk, couldn't hear you sat
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  Speaker 3: AR fifteen.
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  Speaker 2: Yeah, I know.
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  Speaker 1: It's because you gotta work in thirty rounds, because you
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  Speaker 1: need to infer something without being accused of blatantly saying it.
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  Speaker 1: That's what the left calls the dog whistle. That's a
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  Speaker 1: dog whistle right there. Approximately thirty rounds of gunfire had
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  Speaker 1: been fired, o'harris said. Responding officers found one man dead
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  Speaker 1: at the scene six other shooting victims in the area,
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  Speaker 1: including local businesses. He said, based on the shot spotded
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  Speaker 1: notification the significant damage to the shooting victims, police believe
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  Speaker 1: a high velocity rifle was used in the shooting. Again,
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  Speaker 1: we got to say AR fifteen without Zach. Take notes, man,
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  Speaker 1: because you'll need. The damage that was done to the
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  Speaker 1: bodies of some of these victims is unspeakable.
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  Speaker 2: Again, who was it Biden? Was it Biden?
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  Speaker 3: Oh?
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  Speaker 2: Yeah, air fifteen?
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  Speaker 1: Bo Hold you this big hey, so big car can
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  Speaker 1: drive through it?
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  Speaker 2: A big hole? Shut up?
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  Speaker 1: Thankfully, we don't have more people that are dead from
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  Speaker 1: this incident, O'Hara continued. The six people who were injured
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  Speaker 1: in the shooting expected to survive. All the victims believe
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  Speaker 1: to be adults. Police believe there's only one shooter and
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  Speaker 1: that at least one person standing in the group was
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  Speaker 1: clearly targeted.
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  Speaker 2: Evil people doing evil things.
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  Speaker 1: Any discussion, any disagreement, Am I completely correct as usual?
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  Speaker 2: You're are you sleeping?
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  Speaker 1: Sorry?
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  Speaker 3: I wasn't paying attention. No, no, no, you're right. It's
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  Speaker 3: it's just if.
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  Speaker 2: You're gonna not pay attention, you better be cleaning my guns.
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  Speaker 3: Okay, come on, I'm just saying aired of them.
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  Speaker 2: It's water. It can't really hurt you when it fires.
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  Speaker 3: Oh boy, Okay, well that pump one can go.
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  Speaker 2: Okay, it carries a lot of water.
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  Speaker 3: I bet it does.
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  Speaker 2: Minneapolis, Minnesota. Surprise, surprise, surprise.
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  Speaker 1: All right, Intel, this ten percent steak, I don't know.
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  Speaker 1: I understand what the President the administration are trying to
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  Speaker 1: accomplish her US government taking a ten percent stake in Intel,
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  Speaker 1: a deal that caps a two week frenzy over the
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  Speaker 1: troubled chip maker and marks the latest in a series
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  Speaker 1: of extraordinary private sector interventions by President Trump. Under the
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  Speaker 1: terms of the agreement, eight point nine billion dollars in
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  Speaker 1: grants that had been awarded to Intel from the twenty
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  Speaker 1: twenty two Chips Act but not paid yet, will be
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  Speaker 1: converted to equity. The two sides said on Friday, Okay,
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  Speaker 1: so what's that mean, Chuck, tell me what it means.
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  Speaker 2: What it means.
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  Speaker 1: Is that we mused them through that chipsack back in
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  Speaker 1: twenty two eight point nine billion dollars. They have not
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  Speaker 1: received that money. It's free money, it's grant money. They
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  Speaker 1: haven't received that money. So instead of giving them the
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  Speaker 1: eight point nine billion dollars in grants, we are going
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  Speaker 1: to take ten percent of the I don't get it.
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  Speaker 1: I don't get it. The government could get more stock
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  Speaker 1: depending upon what happens in Intel's chip manufacturing business.
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  Speaker 2: The deals are remarkable turnaround.
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  Speaker 1: Just over two weeks ago, Donald Trump called for the CEO,
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  Speaker 1: Lipboo Tan to be fired for his.
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  Speaker 2: Ties to China. I remember that very well.
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  Speaker 1: Then, after meeting with Tan and talking about the business,
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  Speaker 1: Trump became a fan and saw an opportunity to deepen
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  Speaker 1: their partnership.
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  Speaker 2: Again.
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  Speaker 1: I don't get it, don't understand it fire him, Oh,
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  Speaker 1: I like him very much.
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  Speaker 2: Which is it?
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  Speaker 1: I mean, I'm not going to say the President should
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  Speaker 1: not have changed his mind after meeting with the guy.
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  Speaker 1: But I think we, as the American people who now
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  Speaker 1: owned a ten percent stake in his company, I think
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  Speaker 1: we should know what was it about that conversation, about
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  Speaker 1: that meeting, What did you find out, what did you discover?
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  Speaker 2: What were you.
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  Speaker 1: Told that changed so drastically your opinion about this guy.
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  Speaker 1: Trump's quota is saying, I said, I think you should
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  Speaker 1: pay us ten percent of the company, and they said yes.
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  Speaker 1: It was that simple. Tan was photographed smiling with Commerce
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  Speaker 1: Secretary Howard Lutnik in Washington to celebrate the deal, and
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  Speaker 1: to the terms of the agreement, the government will become
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  Speaker 1: Intel's the largest shareholder until previously received two point two
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  Speaker 1: billion in ships X grants. The US is paying twenty
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  Speaker 1: eight point four seven a share twenty dollars forty seven
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  Speaker 1: cents a share, which is a discount of the twenty
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  Speaker 1: three dollars Japan's soft Bank Group recently paid are agreed
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  Speaker 1: to pay as part of a two billion dollar investment.
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  Speaker 1: Stock closed at twenty four or eighty on Friday, I.
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  Speaker 2: Don't get it.
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  Speaker 1: And whether I understand the numerics or not, whether I
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  Speaker 1: understand the you know, the calculus needed here to grasp
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  Speaker 1: whether we're getting a good deal financially or not. The
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  Speaker 1: philosophical aspect of this bugs me because you know, the
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  Speaker 1: Chinese government owns businesses in China. They'll allow you to
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  Speaker 1: be rich and run a business as long as you
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  Speaker 1: are rich and run a business and give them your money,
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  Speaker 1: and they'll let you play like you're, you know, an
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  Speaker 1: independent business person. It's called communism. Same thing in Russia.
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  Speaker 1: You ain't getting rich in Russia. Government's getting rich. Government
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  Speaker 1: allows you to live well.
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  Speaker 2: For giving them all the money. You're being the figurehead.
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  Speaker 2: But it's not your company.
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  Speaker 3: I do like in Russia, how like well, if you
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  Speaker 3: like about Russia town you now, most people are mostly poor.
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  Speaker 3: It's a large still kind of a grarian society. The
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  Speaker 3: only rich people are ones that are close like kind
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  Speaker 3: of a Putin. Yeah, the rich ones are worth like
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  Speaker 3: one hundred and sixty gajillion dollars and everybody else has
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  Speaker 3: like seventy roubles.
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  Speaker 1: You're rich, and that's it. You're rich or dead when
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  Speaker 1: you're close to Putin. These are your options, right, those
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  Speaker 1: are the only options? And uh and again I don't
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  Speaker 1: I don't want us know. I don't think the US government.
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  Speaker 1: I mean, I know we have various accounts and retirement
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  Speaker 1: and pension funds and so forth that owe mutual funds
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  Speaker 1: that have invested in companies.
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  Speaker 2: I get it.
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  Speaker 1: But for the government, as an entity, as an actuary
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  Speaker 1: for the people to acquire any percentage of a corporation
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  Speaker 1: in the name of the people of the United States
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  Speaker 1: of America, I'm just I'm not comfortable with this. I'm
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  Speaker 1: sure on a business level it makes beautiful sense. He's
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  Speaker 1: a he's a businessman. But just on a philosophical level,
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  Speaker 1: I'm I'm not really, I'm not good with it. Again,
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  Speaker 1: you're younger than I, more idealistic.
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  Speaker 2: Where are you? Are you with me or.
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  Speaker 3: Now I'm with you on this? There are things I
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  Speaker 3: disagree with you on and Mark on, but I just
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  Speaker 3: don't want to. I don't want to. The thing is,
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  Speaker 3: I don't want to embarrass you guys. And how might
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  Speaker 3: you do that because I would just like we'd have
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  Speaker 3: a debate and then you you might quit.
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  Speaker 2: I don't want to do that to you, whatever you say.
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  Speaker 3: But no, I absolutely agree with you on this.
• 9:27
  Speaker 1: One Mayor of Cincinnati. Did I mention people make me
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  Speaker 1: laugh what they don't intend to.
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  Speaker 3: There is no every single I don't care how many
• 9:37
  Speaker 3: years goes by. Anytime I hear Mayor of Cincinnati or
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  Speaker 3: a drive through Cincinnati to see my parents, I always
• 9:42
  Speaker 3: say to the mayor who threw out the first pitch
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  Speaker 3: and it went like, do you remember that?
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  Speaker 2: Vaguely? What did it like? Go right field Mallory, There
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  Speaker 2: was something stupid.
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  Speaker 3: It's because I lived there at that time, so it
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  Speaker 3: was replayed.
• 9:55
  Speaker 2: Over it, over, it over.
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  Speaker 3: It's one of the greatest things I've ever seen.
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  Speaker 1: Mayor of Cincinnati, fab I think it's pair of all,
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  Speaker 1: pure of all. Perhaps said he's disappointed to hear of
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  Speaker 1: the Cincinnati Fraternal Order of Police unanimous no confidence vote
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  Speaker 1: in him. The Cincinnati Fraternal Order of Police's fully voting
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  Speaker 1: no confidence in the mayor at a meeting on Monday night.
• 10:20
  Speaker 1: According to the FOP, the group Sani's vote comes due
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  Speaker 1: to a series of leadership failures over the past month
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  Speaker 1: that have undermined public safety, police operations, and community trust.
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  Speaker 1: That would do it. I think that would pretty much
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  Speaker 1: do it. That's that fracas in downtown.
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  Speaker 2: That's what did.
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  Speaker 1: FOP further said that the vote reflects concerns among FOP
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  Speaker 1: members about the mayor's inability. Why can't I talk inability
• 10:49
  Speaker 1: to address critical issues facing Cincinnati and law enforcement officers. Now,
• 10:54
  Speaker 1: I don't know what this means. It's not like the
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  Speaker 1: mayor is going to get fired. They're not going to
• 10:59
  Speaker 1: send him to you know, jail or a purgatory or
• 11:02
  Speaker 1: Columbus or anything like that. But it's just saying that
• 11:05
  Speaker 1: you know, your your police force, your servers and protectors
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  Speaker 1: have no faith in your leadership. So I think it's
• 11:13
  Speaker 1: like a congressional censure. It's a smack on the risk
• 11:15
  Speaker 1: to say, but it really doesn't it result in anything. However,
• 11:20
  Speaker 1: it's Cincinnati. There are other cities in Ohio. I'm just saying,
• 11:26
  Speaker 1: let me get Drew in here before we have to
• 11:27
  Speaker 1: say goodbye. Drew. You're going to wrap us up on
• 11:29
  Speaker 1: Sixten Dobleu TV at High.
• 11:32
  Speaker 4: It's not not much pressure there, Sergeyez, I have a
• 11:35
  Speaker 4: question for you. And this is kind of like I
• 11:37
  Speaker 4: might be dating myself. This is kind of like one
• 11:39
  Speaker 4: of those Arsenio Hall things.
• 11:41
  Speaker 1: That make you go if you're dating yourself, Drew, you
• 11:44
  Speaker 1: downloaded a very very bad app that's not a good one.
• 11:47
  Speaker 2: You should be able to choose from other people.
• 11:49
  Speaker 4: Drew.
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  Speaker 3: Are you okay, man?
• 11:52
  Speaker 4: I'm doing all right except come on our city of
• 11:55
  Speaker 4: all things that make you go very many Texas Temple.
• 11:57
  Speaker 1: Yes, all right?
• 12:00
  Speaker 4: So anyway, we thought you talked earlier in the show
• 12:03
  Speaker 4: in regards to Columbus traffic. Everyone in Columbus complains about
• 12:07
  Speaker 4: Columbus traffic. So here's the something. If everyone in Columbus
• 12:11
  Speaker 4: complains about Columbus traffic, aren't you complaining about yourself?
• 12:15
  Speaker 2: No? Because I drive better than everybody in Columbus. You
• 12:18
  Speaker 2: don't understand that question.
• 12:22
  Speaker 1: You know that song that says trailer for sale or
• 12:26
  Speaker 1: rent room?
• 12:28
  Speaker 2: You know how? You know what it ads. I'm king
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  Speaker 2: of the road. I am king of the road. Baby.
• 12:36
  Speaker 1: Everybody's terrible on the road except you. Be careful out there, Drew.
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  Speaker 4: Remember that.
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  Speaker 2: Thank you for the laugh again today. I appreciate you.
• 12:45
  Speaker 3: Having an existential crisis. He's dating himself.
• 12:48
  Speaker 2: And got no sid Who was that? Who was?
• 12:53
  Speaker 3: How far are you gonna get back?
• 12:53
  Speaker 2: I forget that song? I forget that four hours?
• 13:00
  Speaker 1: Help me, help me King of the Roger Roger stallback, No,
• 13:05
  Speaker 1: not stallback. He was a quarterback for the Cincinnati Reds.
• 13:09
  Speaker 1: Kenny Rogers was the chicken guy, and he was a
• 13:11
  Speaker 1: coward too, of at least in his county.
• 13:15
  Speaker 2: Roger was it Williams.
• 13:16
  Speaker 3: There we go, Roger, Roger Williams Jr. Okay, say wow,
• 13:22
  Speaker 3: I have no idea. I have no idea. I don't
• 13:25
  Speaker 3: I don't know what song you're referring to at all.
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  Speaker 2: King of the Road.
• 13:29
  Speaker 3: Really, I don't know.
• 13:32
  Speaker 1: I am, I'm I'm sad to know you right now. Okay,
• 13:35
  Speaker 1: you don't know good music. Drew was out there dating himself.
• 13:38
  Speaker 1: We got to find him some loving