Banks & airlines - will be in the bread line
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.
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Greed is going to win regardless but in the unintended consequence category was the populist move to "limit" CEO salaries in the 90's.
So they shifted compensation to stock options thus joining the mythical shareholders in demanding quarterly profit over long term health..
It is now a perfect storm of doing everything for the daily stock price and nothing for the health of the company, which can be broken up and sold off anyway -
This is what happens when the government gets in the business of bailouts to begin with. Companies will then take on risk with the mitigation plan of "we'll lobby for a bailout" and the race to the bottom of the margin is in in a competitive marketplace. Stop rewarding losers and losers will stop playing the game.
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My SEC brother - you and I both know those fucks focus on minutia and let the big shit slide.creepycoug said: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.
There are shitloads of risk factors in every filing -and those are mostly CYA as a means of legal swindling from dumbfucks who invest greedily and lose everything - but your blow job disclosure is pure securities language brilliance. The next S-1 I participate in, I'm gonna sneak that shit in there and see if anybody reads it. And then cross my fingers the company goes down because that would AWESOME to watch some of these egotistical CEOs have to suck cock on some old man who lost everything.
I'd also cap the fuck out of executive pay relative to median wages at a company. Put in some upside trigger events so they can still make a fuckbutt of money - but somewhere along the line, the whole concept of a 'good' corporate citizen has been misplaced by quarterly earnings targets and share price. The great Adam Smith stipulated people behave in their own self-interest. Look no further than the C-level on how that plays out.
Christ, I'm becoming a socialist. I better not start having wet dreams about Elizabeth Warren....
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See above. If they can't stop masturbating themselves, the big bad regulators will step in and chop off their collective C-level weenies.RaceBannon said:Greed is going to win regardless but in the unintended consequence category was the populist move to "limit" CEO salaries in the 90's.
So they shifted compensation to stock options thus joining the mythical shareholders in demanding quarterly profit over long term health..
It is now a perfect storm of doing everything for the daily stock price and nothing for the health of the company, which can be broken up and sold off anyway
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Hear is how corporate America (and I am sure elsewhere around the globe) makes decisions
In the beginning was the Plan.
And then came the Assumptions.
And the Assumptions were without form.
And darkness was upon the face of the Workers.
And they spoke among themselves, saying, "It is a crock of shit, and it stinketh."
And the workers went unto their Supervisors and said, "It is a pail of dung, and none may abide the odour thereof."
And the Supervisors went unto their Managers, saying, "It is a container of excrement, and it is very strong, such that none may abide by it."
And the Managers went unto their Directors, saying, "It is a vessel of fertiliser, and none may abide its strength."
And the Directors spoke amongst themselves, saying one to another, "It contains that which aids plant growth, and it is very strong."
And the Directors then went onto the Vice Presidents, saying unto them, "It promotes growth and is very powerful."
And the Vice Presidents went unto the President, saying unto him, "This new plan will actively promote the growth and vigour of the company; with powerful effects."
And the President looked upon the Plan, and saw that it was good.
And the Plan became Policy.
This is How Shit Happens.
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I gotta get this out ... I fucking hate stock buy backs. It's not real. If you and I had a business, and you wanted to sell me your share at what I thought was a discount, then I'd have some sense of it. Sure, the business could change, but I would always have a good sense of the economic value I received when buying you out for cheap.HoustonHusky 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.
Buybacks in the public company context is different. Again, I understand the economic justification. You're buying yourself at a discount. But that value can be wiped out by the market, for completely unrelated reasons, in a moment's time. A vapor.
If you distribute that $$ to me in the form of dividends, it's mine. I can use it however I wish. I don't know. I know the kids at Wharton would tell me it's the same - value delivery to shareholders - but if I had a choice, I would always take the cash in the form of dividends, and drop the stock buyback shit. I've never been a fan generally. -
Trump just referenced Boeing as arguably the greatest company in the world - pre-grounding that is.
Said "we're going to help Boeing."
Again, not sure there's a choice here, but there's also something to be said for corporate Darwinism. We have a system and a philosophy, but with huge, huge exceptions.
Again, Boeing's CEO's head should have rolled a long time ago. I'm sure they would scream "But but the FAA!". Well, sure.gif. But you put yourself in this situation. -
I'll tip the cap to Alaska Air, announced yesterday their top 2 C's are taking no salary. Maybe there's some goodies hidden somewhere, but the PR move is good.PurpleThrobber said:
See above. If they can't stop masturbating themselves, the big bad regulators will step in and chop off their collective C-level weenies.RaceBannon said:Greed is going to win regardless but in the unintended consequence category was the populist move to "limit" CEO salaries in the 90's.
So they shifted compensation to stock options thus joining the mythical shareholders in demanding quarterly profit over long term health..
It is now a perfect storm of doing everything for the daily stock price and nothing for the health of the company, which can be broken up and sold off anyway -
The airlines want $58B after they just spent $45B on stock buybacks instead of preparing for this again.
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Fuck the airlines, Fuck the Banks and Fuck the Casino's and Fuck the authorities on this whole fake crisis. Bars and restaurant owners should all get together and say fuck you and open their doors. They can't and won't fine them all. And I'm sorry, If you have an existing condition or are old as fuck or abundance. THEN YOU STAY THE FUCK HOME and we'll bring you groceries.
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the coogs are really bringing it in this thread
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Keeping the bars open is existential imperative for the CuogWilburHooksHands said:the coogs are really bringing it in this thread
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HRYKGrundleStiltzkin said:
Keeping the bars open is existential imperative for the CuogWilburHooksHands said:the coogs are really bringing it in this thread
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When are you going to start doing my shopping?salemcoog said:Fuck the airlines, Fuck the Banks and Fuck the Casino's and Fuck the authorities on this whole fake crisis. Bars and restaurant owners should all get together and say fuck you and open their doors. They can't and won't fine them all. And I'm sorry, If you have an existing condition or are old as fuck or abundance. THEN YOU STAY THE FUCK HOME and we'll bring you groceries.
Bring TP! -
I give props for going DEEP into the blue state for votes. Inslee probably dug his own grave being Inslee but Trump smells blood in the water.creepycoug said:Trump just referenced Boeing as arguably the greatest company in the world - pre-grounding that is.
Said "we're going to help Boeing."
Again, not sure there's a choice here, but there's also something to be said for corporate Darwinism. We have a system and a philosophy, but with huge, huge exceptions.
Again, Boeing's CEO's head should have rolled a long time ago. I'm sure they would scream "But but the FAA!". Well, sure.gif. But you put yourself in this situation.
You know as well as I do the one who brings the money sets the terms.
So, for the inept Boeing CEO....well, bye.gif
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Tangentially relevant -
"It's in the Mail".dnc said:
Tangentially relevant
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And fuck the police!salemcoog said:Fuck the airlines, Fuck the Banks and Fuck the Casino's and Fuck the authorities on this whole fake crisis. Bars and restaurant owners should all get together and say fuck you and open their doors. They can't and won't fine them all. And I'm sorry, If you have an existing condition or are old as fuck or abundance. THEN YOU STAY THE FUCK HOME and we'll bring you groceries.
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NY times weighs in on banking
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Chinsightful. Maybe Bloomberg could just divert his next round of campaign spending and give everyone a million dollars?LebamDawg said:NY times weighs in on banking
