We all know that chipmaker Intel (INTC) has been the beneficiary of a significant quantity of tax dollars lately. So, when Intel announced plans to cut a lot of jobs, that did not sit well with the government that doled out said tax dollars. But Intel is up nearly 3% in Thursday afternoon’s trading today despite facing new questions from Congress about why it both takes taxpayer money then leaves them jobless.
Senator Rick Scott noticed the odd dichotomy at work—take taxpayer money and then prompt another expense of taxpayer dollars by activating unemployment insurance—and questioned Intel CEO Pat Gelsinger about the matter on Wednesday. With Intel in line to receive close to $20 billion in grants and loans, it was a worthwhile question to ask.
Scott then twisted the knife, questioning the competence of the Commerce Department itself. He asked if the awards had failed “…to include real metrics that would protect…
