COVID-19 Coronavirus UPDATES, BANS, CLOSURES, ADVISORY, etc.

Hank2211 said:

To that I would add that any airline that comes asking for public money better be prepared to treat the public like owners going forward, instead of like sheep.

When airlines make big profits (as they have recently), they pay out dividends, or buy back stock. In the last 6 years, American Airlines alone has spent $15 billion buying back its own stock (NY Times, March 16). That's on top of dividends they have paid to shareholders. Don't get me wrong - I believe in capitalism, and companies can do what they want with their profits. (American's CEO had this to say in 2017: “I don’t think we’re ever going to lose money again." Famous last words.) But when a company comes begging for help from us (and make no mistake - it's our money they want), that's not capitalism, and they need to explain why they are so needy, what they propose to do with it, and what they propose to give us for it. There is no question I have no desire to bail out the owners of airlines, nor should those to whom we entrust our tax dollars, without some real, tangible payback.

Business is business. You want a loan, go to a bank. Otherwise, better be prepared to offer something compelling.

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crudeoildude said:

Until you have worked in the commercial pork industry and seen a virus move through a 500 sow pig barn over night and kill 397 head of sows full of baby pigs the next two day its hard to realy understand their reasons for no large assemblys of people.We tend to error on the side of caution more now day than we ever used to is that because we learned something from past experience????

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Wheels said:

Agree completely. My post regarding the airline industry from yesterday.

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US Airline industry wants $50B and have just spent $44B on stock buybacks. The Airline industry has always been cyclical with significant drawdowns. Cash has always been important. Think TWA, Pan-Am, Branif......... Unfortunately the US government will not let any of these companies fail. Since we will bail them out anyway, why don't we require that in exchange for the money, the top 10 executives at each company leave and forfeit their golden parachutes. For this equity infusion, the US government becomes 50% owner of the companies and the government will have to divest their equity to the market within ten years with the money being returned to the US treasury.

Instead, the top executives of these companies that have led them to this precipice will probably make hundreds of millions of dollars in bonuses over the next ten years.

US airline industry seeks about $50 billion in federal help

https://edition.cnn.com/2020/03/16/business/us-airlines-federal-bailout/index.html


US Airlines have spent $44B on buybacks in last ten years.

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Brent in Az said:

Things are getting pretty stressful here inTucson. Our idiot County board of supervisors, is voting to close a whole slew of businesses. Misdemeanor charges will be filed against anyone who violates the order.

Tens of thousands, without work, or a paycheck, including myself.

I'm really hating China right now. My disgust of politicians, and community leaders, is a close second.

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wesheltonj said:

Looks like tonic water is in everyone future.

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wesheltonj said:

Looks like tonic water is in everyone future.

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spike.t said:

With the WHO now telling countries to prepare for a possible pandemic I would say that is what is going to come.... With lockdowns now in Italy and it most likely out of control in Iran and cases occurring with no known links to China not looking good.... The problem is that when people stop traveling which is what will happen.... There will be massive economic problems.... No tourists visiting places ...means no spending in shops ....restaurants.... Hotels....airlines with no passengers...... Cruise companies with no passengers..... This is only one business i.e. tourism.... But world wide it's a massive industry and a lot of places and their businesses are heavily or totally dependent on it....even business travelers would dry up.....so devastation to a lot of places .....and this is only one business around the world.... Start adding in the others that will be affected as is already happening in manufacturing etc.....then things look potentially catastrophic..... Gold is at its highest level for a long time.... Just hope it doesn't reach this scenario

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Albert GRANT said:

New CDC research shows people between 20 and 54 years old make up almost 40% of hospitalized coronavirus patients in the U.S., underscoring health officials’ warnings that everyone should take precautions. THE NEW YORK TIMES

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stug said:

New Zealand just announced our borders are closing as of 11:59pm tonight to everyone except NZ citizens and permanent residents.

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Albert GRANT said:

New CDC research shows people between 20 and 54 years old make up almost 40% of hospitalized coronavirus patients in the U.S., underscoring health officials’ warnings that everyone should take precautions. THE NEW YORK TIMES

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