MagooFlew

think the management was bad now? Wait until all the smart guys in mgmt go to chase greener($$) pastures. People don’t get into airlines because they like conservative well-run businesses. Airlines are high-risk, high-reward affairs and it’s leaders are ego-driven adrenaline junkies, not your Warren Buffet types. This is a perfect example of systemic risk. They knew it could happen at any time, they rode the knife, and got their reward as soon as the opportunity arose. And the labor force has been taking its payday as well; called “growth”, enjoying strong contracts, better work rules, and generous profit sharing. It’s no surprise all the contract renegotiations had stalled. Everyone had been waiting for a recession to raise its head. Just didn’t quite expect the double whammy. You can’t punish the people that you’re paying to play the game, for playing the game.

SonicFlyer

The phrase you're looking for in economics is called "moral hazard"

https://mises.org/library/what-causes-moral-hazard

206321

Very thankful to the Democrats who included the payroll grants and worker protections. McConnell's bill sure didn't have that. It was purely a $500b slush fund that the White House had the freedom to give to whoever they wanted with no oversight, and no requirement to release who got what for 6 months. Just. Wow.

Pelosi's bill had a requirement for a union member to be a part of the corporate board. It had restrictions on stock buybacks.

Don't forget who backed us months from now.

https://www.bizjournals.com/charlott...s-bailout.html

Peacock

Almost every airline CEO already pledged to not furlough (at least until September) no buybacks, no dividends, and limits on executive compensation. The democrats are doing their best to “not let a crisis go to waste” by trying to ram through a bunch of partisan B.S.

spacecadet

I'm sorry, but if you think CEOs will play nice without having the rules explicitly spelled out for them in legislation, then you're naive. McConnell and the republicans want to give a blank check to the executives so they can escape with their golden parachutes after the company gets gutted. Pelosi's bill had a requirement for a union member to be a part of the corporate board, and restrictions on stock buybacks which is part of the reason things are so dire. Republicans are playing the partisan game here, and dont like being called out for their crony capitalism. I want a bailout too, but I do not want a blank check handed to execs, even though they "pledged" to be good boys. Legislate that; it's what congress is supposed to do.

SonicFlyer

Anything the government gives you was stolen from someone else.

ReadOnly7

unless you pay taxes, and then it’s just being given back.

(yeah....my response is a gross over-simplification......just like your statement.)

C17B74

Bailout - Deal has been agreed upon. We will see what amount and layout is soon. @3AM / 25 Mar.
Unfortunately they finally are talking virus spike. Many of us have been saying this all along. “Spike is coming” logical assessment as other countries spiked, it’s not like we wouldn’t with the basic measures/society mentality we have shown. Some did well, others going full tilt.

SonicFlyer

Bahamasflyer

Don't waste your breath. Remember you are arguing with a guy who is so far out there, that he believes that the FAA is unconstitutional

Lack of Law in the FAA