Micron expands Manassas operations Micron Technology Inc. will get more than $1.5 million in state incentives to expand its memory chip manufacturing operations in Manassas.
The Boise, Idaho, company will invest $56 million to increase production and add 123 new jobs.
Micron acquired the memory chip plant on Godwin Drive from Toshiba in 2002. The plant, which manufactures DRAM and NAND flash memory chips, currently has about 1,600 employees.
Treasury gets $11.7 billion from GM stock sale
The Treasury Department says it has received $11.7 billion from the sale of 358.5 million shares of General Motors stock. The government could receive an additional $1.8 billion assuming the bankers exercise options to purchase an additional 53.8 million shares of GM common stock within 30 days of the initial stock offering.
The government put $49.5 billion into GM as part of its bailout of the giant automaker.
In addition, Treasury said it will receive another $2.1 billion from GM when the automaker repurchases preferred stock that was issued under the government’s $700 billion Troubled Asset Relief Program. – AP
FCC delays meeting and possible vote on Internet service rules
The U.S. Federal Communications Commission delayed by six days, to Dec. 21, a meeting at which it may vote on rules governing how companies led by AT&T Inc. and Comcast Corp. provide Internet service.
Nineteen Republican lawmakers told FCC Chairman Julius Genachowski in a Nov. 19 letter that it would be “a mistake” to vote soon on “net neutrality” rules, which would prevent Internet service providers from selectively blocking or slowing content delivered to subscribers while favoring their offerings and those of business partners. Rule-making should be left to Congress, the members said.
The FCC, which proposed rules last year, may vote on the regulations next month, Paul Gallant, a Washington-based analyst with MF Global, said in a Nov. 19 note to clients. – Bloomberg
