DangerStranger138

OP t1_jaegr33 wrote

Reply to Biden Bars Companies From Using US Chips Act Cash for Buybacks || Decade-Long Foreign Manufacturing Restrictions Imposed by

MEATY CLIFFNOTES

> ^(The Commerce Department on Tuesday) ^(released its plans) ^(to begin accepting applications in late June for a $39-billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion.)
>
> ^(Recipients who receive more than $150 million in direct funding "will be required to share with the U.S. government a portion of any cash flows or returns that exceed the applicant’s projections by an agreed-upon threshold," the department said.)
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>^(Companies winning funding are also prohibited from using chips funds for dividends or stock buybacks, and must provide details of any plans to buy back their own shares over five years. The department will consider an "applicant’s commitments to refrain from stock buybacks.")
>
>^(Democratic lawmakers have noted that the largest U.S. semiconductor companies have poured hundreds of billions of dollars into stock buybacks in recent years, with Intel) ^((INTC.O)) ^(spending more than $100 billion on buybacks since 2005. Intel also pays a dividend.)
>
>^(It's not uncommon for states to require specific employment targets as a condition for tax subsidies, but the Biden administration is a significant expansion.)
>
>^(Commerce Secretary Gina Raimondo said companies must submit a plan that includes an outline of workforce needs. Applicants seeking more than $150 million in direct funding must submit "a plan for how they will provide affordable and accessible childcare for their workers.")
>
>^(Applicants must address six program priority areas including plans "to commit to future investment in the U.S. semiconductor industry, including to build R&D facilities in the United States.")
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>^(Applicants should also "create opportunities for minority owned, veteran-owned, and women-owned businesses; demonstrate climate and environmental responsibility; invest in their communities by addressing barriers to economic inclusion; and commit to using iron, steel, and construction materials produced in the United States.")
>
>^(Most direct funding awards are expected to range between 5% and 15% of project capital expenditures. Commerce said it generally expects the total amount of an award including loan or loan guarantee, to not exceed 35% of project capital expenditures.)
>
>^(Raimondo noted that companies winning awards will be required to enter into agreements restricting their ability to expand semiconductor manufacturing capacity in foreign countries of concern like China for 10 years after winning funding. They cannot engage in any joint research or licensing efforts with a foreign entity of concern involving sensitive technologies.)

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OP t1_jae1unj wrote

Reply to comment by in DISH shares drop over 4% and receives BOA double-downgrade upon confirming network outage was a result of an ongoing cybersecurity breach by

MEAT OF THE ARTICLE CLIFF NOTES

>Customers have also faced “authentication issues” while trying to access paid TV channel apps such as MTV or Starz using their Dish Network logins, “Certain data was extracted,” the company said in a statement Tuesday. The acknowledgment is an evolution from last week’s earnings call, where it was described as an “internal outage.”
Dish Networks’ website was down for multiple days beginning last week, but the company has now disclosed that “internal communications [and] customer call centers” remain affected by the breach. Dish said it had retained outside experts to assist in evaluating the problem.
The intrusion took place on the morning of Feb. 23, the same day the company reported its fourth-quarter earnings.
Shares dropped over 4% on the news and a double-downgrade from Bank of America.

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OP t1_jae09ad wrote

Reply to Dish Network confirms network outage was a cybersecurity breach by

MEAT OF THE ARTICLE CLIFF NOTES >Customers have also faced “authentication issues” while trying to access paid TV channel apps such as MTV or Starz using their Dish Network logins, “Certain data was extracted,” the company said in a statement Tuesday. The acknowledgment is an evolution from last week’s earnings call, where it was described as an “internal outage.” > >Dish Networks’ website was down for multiple days beginning last week, but the company has now disclosed that “internal communications [and] customer call centers” remain affected by the breach. Dish said it had retained outside experts to assist in evaluating the problem. > >The intrusion took place on the morning of Feb. 23, the same day the company reported its fourth-quarter earnings. > >Shares dropped over 4% on the news and a double-downgrade from Bank of America.

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OP t1_iu1jasx wrote

Reply to comment by in Texas-based RealPage facing lawsuit for allegedly using software to raise rent prices by

We're in technology subreddit how is this pertinent? Realpage is a software program at the core of this colluding price fixing cartel. Perhaps r/RealEstateTechnology or r/texas would be apropos hashtags for this post idk but if you got some evidence of price gouging at the pump that's a technological issue I'm sure you'd get mad quality engagement in a post here in the sub.

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