US Airlines’ Request $50 Billion Bailout
03-18-2020, 06:30 AM
#91
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Posts: 1,788
Originally Posted by Profane Kahuna
Nah, no problems here. I think the airlines with solid balance sheets can weather the storm. Survival of the fittest.
Good luck with your socialism and bailouts!
Good luck with your socialism and bailouts!
And you left a crack in the curtain. You don’t care about the perception of the bailouts and airlines. You just don’t like bailouts. Which is fine. You just tried to couch it with BS. And I’d agree with your premise if the airline industry’s failure were its own making. It’s not. Not remotely. Almost every airline was making record profits and in good financial shape to handle a downturn.
03-18-2020, 06:45 AM
#92
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Posts: 813
Originally Posted by CaptDave
I love how the airlines are begging for money after they had record profits the last few years. We can't even get an extra inch of leg room and they want to use our tax dollars to bail them out? Nothing like being bribed by our own government with our own money.
Bailouts/financial aid arguments can be made for or against; but when your argument is shrinking legroom as a reason for against, it’s a weak point
03-18-2020, 06:49 AM
#93
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Posts: 813
Originally Posted by Purpleanga
So give them 50 billion to fly empty planes around? They need passengers not cash and that’s not going to change any time soon. Just let them shut down and have one or two airlines operating for now. I sincerely doubt the guys making 200k+ a year will be happy when they see the requirements to get the 50 billion is to work for min wage anyways.
03-18-2020, 06:54 AM
#94
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Posts: 647
Originally Posted by Purpleanga
I sincerely doubt the guys making 200k+ a year will be happy when they see the requirements to get the 50 billion is to work for min wage anyways.
03-18-2020, 06:59 AM
#95
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If the government effectively shuts down your industry -- by preventing people from traveling -- that industry should be compensated. Airlines and hotels should be compensated.
This was not the case with the banks or auto manufacturers in 2008.
This was not the case with the banks or auto manufacturers in 2008.
03-18-2020, 07:03 AM
#96
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Originally Posted by GogglesPisano
If the government effectively shuts down your industry -- by preventing people from traveling -- that industry should be compensated. Airlines and hotels should be compensated.
This was not the case with the banks or auto manufacturers in 2008.
This was not the case with the banks or auto manufacturers in 2008.
When the only way to slow this pandemic is by placing the economy in a recession, letting businesses die by the invisible hand won’t do anyone any favors
03-18-2020, 07:12 AM
#97
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Posts: 1,788
Originally Posted by Purpleanga
So give them 50 billion to fly empty planes around? They need passengers not cash and that’s not going to change any time soon. Just let them shut down and have one or two airlines operating for now. I sincerely doubt the guys making 200k+ a year will be happy when they see the requirements to get the 50 billion is to work for min wage anyways.
03-18-2020, 07:35 AM
#100
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Posts: 39,375
Originally Posted by NotMrNiceGuy
Warren Buffett is sitting on $130 billion cash as we speak.
That's what he does, buys stuff. Need cash for that. Also his corporate portfolio is larger than any one airline, so he needs more liquidity than they do as a matter of course.
Banks have even more, because that's what they do.
That's not what airlines or most other industries do. Profits in normal industry are re-invested (which apparently includes buying back stock), or gets issued as dividends. Sitting on piles of cash is not, on average, a good use of money.
How many of us have our life savings in cash? Not many, same reasons.
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