What do you mean by «controls,» Mr. President?
President Donald Trump announced Friday that the U.S. government would be taking a 10% stake in Intel, the struggling U.S.-based chip manufacturer. But the president’s choice of words will definitely raise more than a few eyebrows, especially since the Trump regime has previously said the federal government will have no corporate governance role at the tech company.
“It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future,” Trump wrote on Truth Social.
The government taking a 10% ownership stake in Intel shouldn’t be surprising, as rumors about the deal leaked last week. But what might surprise people is Trump’s use of the word “control.” Nobody seems to know what that means yet.
“I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars,” Trump continued.
“This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation,” according to Trump. The president ended his post with the now-customary, “MAKE AMERICA GREAT AGAIN!” and “Thank you for your attention to this matter.”Lutnick’s denials on Tuesday
Commerce Secretary Howard Lutnick was asked about the plans for a government stake in Intel during an interview with CNBC on Tuesday. Lutnick was specifically quizzed whether the government would get a governance role at Intel, something the Commerce Secretary insisted would not happen.
“Do you get governance here?” CNBC host David Faber asked.
“No, no, no, no, no…” Lutnick said over and over to the question, suggesting the entire idea was absurd. “Come on, stop that stuff.
