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Banks & airlines - will be in the bread line
jecornel
Member Posts: 9,737
in Tug Tavern
No one likes the people who soak the entitlement system.
But it will be the big boys asking for a bailout first! Corporate wellfare at it's finest!
https://www.nytimes.com/2020/03/16/opinion/airlines-bailout.html
But it will be the big boys asking for a bailout first! Corporate wellfare at it's finest!
https://www.nytimes.com/2020/03/16/opinion/airlines-bailout.html
Comments
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Banks should fuck the fuck off. They are getting FREE MONEY! Fuck those guys if they fuck that up.
Airlines will bounce back eventually -this is 9/11 on a broader scale. They can withstand a 60 day'ish kind of slow down quite easily.
Cruise lines are fucked. That industry is going to be as dead as film photography and fax machines. The ripple effect will fuck over those countries reliant on tourism - which is too bad because places like Barbados and Puerto Rico have some fine trim that deserves cultural exposure.
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Screw the cruise industry. I've never been on one of those petri dishes, but from my understanding almost all the work force aren't Americans so why bail them out?
You have to bail out the airlines and banks, but you should force the boards and executives to take a bleach bath by crashing the stocks. Same with Boeing.
Unfortunately they won't do that because of the stock market. But its not like people own banks and airlines in their 401Ks... -
Absolutely. The cruise industry is fucked. They should be rebranded as Noro Virus with a splash of Corona.HoustonHusky said:Screw the cruise industry. I've never been on one of those petri dishes, but from my understanding almost all the work force aren't Americans so why bail them out?
You have to bail out the airlines and banks, but you should force the boards and executives to take a bleach bath by crashing the stocks. Same with Boeing.
Unfortunately they won't do that because of the stock market. But its not like people own banks and airlines in their 401Ks... -
Casinos want to be bailed out too.
Hell no. -
Cramer (ILTCHC, ILTDT) just spoke about the need for the government to get in touch with companies like Square and Intuit relative to getting funds to the people quickly and efficiently. They do that shit all the time. It will take the government and banks months to pull that shit off and they don't think nimbly.
Also, Bezos and Trump need to bury the hatchet and get some shit rolling relative to distribution. Amazon is the best in the business and the gubmint doesn't know shit about how to do it efficiently and quickly. Not saying to Nationalize Amazon, don't twist - but Amazon can be the Ford of WWII time pumping out military vehicles and shit.
USA! USA! USA! We can do this shit.
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Fucking bailouts. Again.
We need to start hiring analysts on Wall Street who factor in their analysis of "buy, hold, sell" recommendations SOME FUCKING IDEA about their fiscal house being in order. That should include a rainy day fund.
I get it. Retained earnings should be used for growth or for distribution to shareholders. I've been listening to the calls and editing the press releases for 25 years.
I'm not one for more regulation generally, but there should be a new SEC disclosure requirement to join the pile of information that the SEC already requires that lets shareholders know how long their company can run in the event of a severe economic downturn.
Companies should be evaluated the same way we evaluate people. Risk Factors in the 10-K ought to include something like:
"In the event of a severe economic downturn and significant loss of revenues, our cost structure is such that we would have to get on our knees and give the federal government a blow job so we could collect tax revenue to keep us afloat. Otherwise, we'd fail."
The fuck. Manage your costs to contemplate shit like this happening periodically. It goes entirely against the rules of monopoly that we just reach into the box and give you cash because you landed on Park Place with three hotels and just don't have any money .... because you've had a bad game and we want you to keep playing.
Boeing still dealing with their software issues on the grounded fleet. That's a big boy bidness. Better figure that shit out. Should have been resolved by now, and now this, the double whammy. A gloriously successful American company on its knees. CEO should be shit canned for cause ... no executive severance. -
Boeing spent $100 billion buying back stock and went cheap on designing/building a new plane instead of spending the $40 billion it should have costed. We need the company, but fuck the stockholders that took the outsized returns for years and the execs that made those decisions.
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Relative to their level of essentialness as an industry, airlines are fragile as fuck.
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Admittedly, that industry is among the most capital-intensive, and they are prisoners to fuel costs, which is beyond their control.GrundleStiltzkin said:Relative to their level of essentialness as an industry, airlines are fragile as fuck.
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“the shareholders”’ is the best built in excuse to fuck everybody raw that a business could ever ask forHoustonHusky said:Boeing spent $100 billion buying back stock and went cheap on designing/building a new plane instead of spending the $40 billion it should have costed. We need the company, but fuck the stockholders that took the outsized returns for years and the execs that made those decisions.
