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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
You get equity not because it’s an instant return tomorrow. You buy equity because
1. They will be profitable eventually.
2. If not, we protect our stake in the physical assets like the planes.


If they liquidate someone will buy. There will be a demand for air travel eventually. The thing is, we don’t give these companies everything in return for nothing. They’ll just go back to buying back stock and ****ing the employees again.

Again, these shares should be first in line among all debt. That protects the people (us) who didn’t want a stake but had to buy. The owners of the company shouldn’t get first in line because they’re the ones who ****ed this up. The shareholders approved the board who approved the decisions the execs made.
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I dont think you will ever see the Government liquidate. (they will keep wasting money its the government way!) Private firm though yes which is again why if Delata threw a bunch of shares on the market it could get ugly fast.

(again this is all theoretical)

FWIW I have no issue with the government buying preferred shares in the airlines. I think there needs to be lots of rules attached to such a plan and I dont trust THIS government to do that. But I dont want to see the airlines fail or merge any more than they have and if a Government Stock Buy will prevent that I wont argue against it. I am just saying it is not the panacea some think it is there is problems this can cause. I also think in some cases those risks might be worth it.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

FadeToBlack&Gold said:
This is all incorrect. They are still flying some routes, still paying the vast majority of full-time employees and paying their share of those employees' benefits, and all those planes that are parked are incurring maintenance costs and parking fees - you can't just start flying a plane again after it's been parked for two months.
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Yeah it isnt a complete shut down it is just a major major cut back. That is why money is still draining...

If the company was as rufus put it then all offices would be closed...the business would be shuttered until this ended. The effect that would have on the market could be catastrophic if it was Delta and United doing it. (people would cheer if it was American ;) )
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Handyman said:
I dont think you will ever see the Government liquidate. (they will keep wasting money its the government way!) Private firm though yes which is again why if Delata threw a bunch of shares on the market it could get ugly fast.

(again this is all theoretical)
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Did we sell GM back on the market or through sell backs directly to GM?

We could easily DCA out over five years with minimal impact.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

My son is still flying planes all over the midwest out of nyc. How much longer? Who knows

Sent from my SM-G950U using Tapatalk
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

In some cases, they are also still cutting checks for the newer planes in their fleet. Or paying lease costs - Delta still pays SWA for their lease of the former AirTran 717s that fly around in DL colors.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

SJHovey said:
Probably wouldn’t be a terrible idea to get to the bank early if that’s the case.
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Fifth Third already emailed their customers (I have a checking account with them) to let them know that there *ISN'T* a physical check being mailed unless you do not have electronic bank account information previously on record with the IRS.
f you have a Fifth Third bank account on file with the IRS (for direct deposit of tax refunds or Social Security benefits), you will likely receive your payment electronically within a month. Fifth Third online and mobile users with deposit alerts activated will be immediately notified of the deposit.

If you do not have an account with the IRS, you will most likely receive a paper check. You can deposit that check at our branches and ATMs or in the convenience of your own home using the Fifth Third mobile app.
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Fifth Third also mentioned in the email that there is mortgage forbearance can be negotiated with them.

Wells Fargo (who currently holds my mortgage) conveniently emailed me, immediately after Fifth Third, to let me know that I can continue to use the Wells Fargo app or website to keep current with my monthly payments. :rolleyes:
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
Did we sell GM back on the market or through sell backs directly to GM?

We could easily DCA out over five years with minimal impact.
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I dont remember. I do remember the GM bailout was the only one I liked back then because it made the most sense. (I didnt care if the failing banks tanked the economy...cause I was younger and stupid ;) )

And as I said in my edit, if the right provisions are in place I wouldnt be upset buy a stock buy. I just dont trust these nimrods to do it right.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
Fifth Third already emailed their customers (I have a checking account with them) to let them know that there *ISN'T* a physical check being mailed unless you do not have electronic bank account information previously on record with the IRS.


Fifth Third also mentioned in the email that there is mortgage forbearance can be negotiated with them.

Wells Fargo (who currently holds my mortgage) conveniently emailed me, immediately after Fifth Third, to let me know that I can continue to use the Wells Fargo app or website to keep current with my monthly payments. :rolleyes:
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Does the forbearance include accruing interest? If you still are getting dinged on interest that could still be painful.

And yeah Wells Fargo can die in a fire.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I’m a little disconnected from the passenger side of things considering we’ve been carrying on almost like normal.

Saw photos from a couple of different airports with planes just being parked on the runway.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Handyman said:
Does the forbearance include accruing interest? If you still are getting dinged on interest that could still be painful.

And yeah Wells Fargo can die in a fire.
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The Fifth Third email doesn't say. Just says to call them to discuss options.

I did re-read the Wells Fargo email, and buried near the bottom is their mention of Mortgage Forbearance. They ask that you e-mail them instead and they will reply back with options for your account.

I used to like WF when they first bought all the First National Bank of Michigan locations. Then after college I realized what a terrible company they had become.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

walrus said:
My son is still flying planes all over the midwest out of nyc. How much longer? Who knows

Sent from my SM-G950U using Tapatalk
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Surely you mean over the midwest? ;)
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">A Doordash driver got a note from his doctor saying he shouldn't drive because he was sick, with shortness of breath and a dry cough. <br><br>Instead of giving him the sick leave it promised, the company suspended him without pay. <a href="https://twitter.com/JMBooyah?ref_src=twsrc%5Etfw">@JMBooyah</a> reports: <a href="https://t.co/tFdKoUzXrS">https://t.co/tFdKoUzXrS</a></p>— Los Angeles Times (@latimes) <a href="https://twitter.com/latimes/status/1243992486013329409?ref_src=twsrc%5Etfw">March 28, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Handyman said:
Note: I agree with them 100%

That said...good god this could backfire on them. I hope it doesnt but if this is handled wrong it could be a PR nightmare.
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It's gonna backfire. They will be scolded for using a crisis as leverage for personal gain, and be labeled divisive and anti-American. Corporate will whisper to the press that the unions are behind it.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

FadeToBlack&Gold said:
It's gonna backfire. They will be scolded for using a crisis as leverage for personal gain, and be labeled divisive and anti-American. Corporate will whisper to the press that the unions are behind it.
Click to expand...

This.

Gig jobs have almost no leverage.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

FadeToBlack&Gold said:
It's gonna backfire. They will be scolded for using a crisis as leverage for personal gain, and be labeled divisive and anti-American. Corporate will whisper to the press that the unions are behind it.
Click to expand...

Yeah that is kinda what I was getting at.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

dxmnkd316 said:
Stay safe either way this goes my friend.
Click to expand...

And right now, I think Door Dash is a little safer than Instacart. At least with Door Dash, I pick up the stuff and can leave it at the customer's front door if they want.
 
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