US Airlines’ Request $50 Billion Bailout
03-18-2020, 01:12 AM
#85
Gets Weekends Off
Joined APC: Mar 2015
Posts: 1,122
Originally Posted by FNGFO
Yeah. See making money for shareholders is kinda a thing in business. Most businesses don’t keep enough retained earnings to essentially shutdown for 3-4 months. It’s just not typically done.
You seem to have ave a real problem separating the difference between disapproving of the stock buy back mess, and understanding reasonable levels of liquidity required to stave off a normal downturn. It is possible to hold both views. Sure. It would be nice to have enough laid away in a rainy day fund to flip off a Great Depression. But is it really practical? Or necessary? I’d argue that pretty much no one in any C suite was of that opinion prior to this episode.
You seem to have ave a real problem separating the difference between disapproving of the stock buy back mess, and understanding reasonable levels of liquidity required to stave off a normal downturn. It is possible to hold both views. Sure. It would be nice to have enough laid away in a rainy day fund to flip off a Great Depression. But is it really practical? Or necessary? I’d argue that pretty much no one in any C suite was of that opinion prior to this episode.
Good luck with your socialism and bailouts!
03-18-2020, 05:02 AM
#86
FO
Joined APC: Apr 2015
Position: B777
Posts: 176
No blank check?
A CNBC airline news article snippet this morning:The more than $50 billion in government aid U.S. airlines are seeking as the coronavirus ravages their businesses must include worker and consumer protections, Democratic lawmakers and labor unions said Tuesday. They criticized airlines for spending years of windfall profits buying back their own stock.
“No blank check industry bailouts,” tweeted Sen. Richard Blumenthal, D-Conn.
I didn’t know the airlines spent a combined $39 billion in stock buybacks over the last five years. Where were the unions complaints back then when times were good? Don’t investments carry risk? If this isn't hypocritical, then what is?
HD
“No blank check industry bailouts,” tweeted Sen. Richard Blumenthal, D-Conn.
I didn’t know the airlines spent a combined $39 billion in stock buybacks over the last five years. Where were the unions complaints back then when times were good? Don’t investments carry risk? If this isn't hypocritical, then what is?
HD
03-18-2020, 05:12 AM
#87
Gets Weekends Off
Joined APC: Nov 2012
Posts: 1,083
Originally Posted by Hawkerdriver1
A CNBC airline news article snippet this morning:The more than $50 billion in government aid U.S. airlines are seeking as the coronavirus ravages their businesses must include worker and consumer protections, Democratic lawmakers and labor unions said Tuesday. They criticized airlines for spending years of windfall profits buying back their own stock.
“No blank check industry bailouts,” tweeted Sen. Richard Blumenthal, D-Conn.
I didn’t know the airlines spent a combined $39 billion in stock buybacks over the last five years. Where were the unions complaints back then when times were good? Don’t investments carry risk? If this isn't hypocritical, then what is?
HD
“No blank check industry bailouts,” tweeted Sen. Richard Blumenthal, D-Conn.
I didn’t know the airlines spent a combined $39 billion in stock buybacks over the last five years. Where were the unions complaints back then when times were good? Don’t investments carry risk? If this isn't hypocritical, then what is?
HD
03-18-2020, 05:46 AM
#88
Gets Weekends Off
Joined APC: Aug 2016
Posts: 214
SCOOP: Trump, presented last night with an $850b coronavirus aid package proposal, urged aides to "go big" and hike it to at least a nice, round trillion dollars. They did, and that's what Mnuchin touted today.
Fiscally responsible republicans
Fiscally responsible republicans
03-18-2020, 06:18 AM
#89
Gets Weekends Off
Joined APC: Oct 2008
Posts: 1,530
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, 06:21 AM
#90
Pronounced Kep-Ten
Joined APC: Feb 2018
Position: Left
Posts: 179
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.
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