Can GF still bank from the CHIPS act even though the company has tax exempt status being that the company is registered in the tax free haven of the Cayman Islands?
Let's see doesn't pay taxes, boasts record profits, and layoffs all in the same 4 minute video. GF is like the MAFIA. Groomed sociopaths is what the C Suite executives are. What a racket.
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Agreed, the Cayman Islands thing has bugged me since finding out about it when we IPO’d. I think it’s a sleazy way to avoid paying our fair share of taxes in the US, or any other another country we manufacture in. Between that and the majority ownership by the City of Abu Dhabi wealth fund leaves me with far less dedication to this company than I would like to have. I can’t believe the company would lay off workers surrounding production in a time where we haven’t been able to fill so many slots in that area. And, morale is now taking a hit again after finally…. finally climbed out of the dumpster in my opinion. GF’s been pretty good to me personally in the last few years, but honestly, I wouldn’t be horribly upset if I had to all of a sudden find a new job. Sad.
Frankly company like GF should not be given govt money if they can not protect jobs and can not ensure that it is used within USA. My worry is they these people will find way to channel money out of USA.
All fraud and lies
Also notice how the Pres visited ibm in Poughkeepsie and new micron site outside of Syracuse….
Why didn’t he visit us in malta while here??
TC visited him and made us know about it multiple times! Why didn’t his buddy swing by when he was in the area??
Also how does UAE ownership (majority holder) factor into CHIPS equation…
Globalfoundries is bullsh-t and lies.