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Airline bailout package being debated
#1
Banana 
Boeing asks for 'at least $60 billion' as Trump expresses support for bailout
https://www.washingtonpost.com/business/...t-bailout/

Boeing's free cash flow for 10 years totaled $58.37 billion, while the company spent $43.44 billion, or 74% of free cash flow, on stock repurchases.
https://www.marketwatch.com/story/airlin...2020-03-18

The President was just lauding Boeing in his press conference. He supports giving them the 60 Billion dollars of Federal monies. He said it'a a great company (the love was profound and slippery).

- Ask - coincidence that the 60 Billion bailout is almost exactly the amount Boeing executives spent, derived from inflated stock sales to the public, in buying their own stock - which allowed them to reap astronomical rewards in stock options and golden parachutes.

for example: President Donald Trump appointed Shanahan to the role after the resignation of Retired General James N. Mattis.Shanahan served as Deputy Secretary of Defense from 2017 to 2019. He previously spent 30 years at Boeing in a variety of roles.
https://en.wikipedia.org/wiki/Patrick_M._Shanahan
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#2
Lmao

But those poor little CEO's and high dollar execs might go hungry
if they don't get their regular mega bonuses.

Lighten up, Tree. It's only tax payer money. It's a bottomless pit.

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#3
We bailed out Generous Motors and Chrysler around 2009 and
8 out of 10 of their vehicles were made out of country (Mexico and China).
Sure, a few are ASSEMBLED in the USA from parts made around the
world. But those Execs and Union Boys are important to the fabric
of our society. Plus, they have the CongressCritters bought and paid for.

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#4
(03-23-2020, 07:35 PM)BadBrad Wrote: We bailed out Generous Motors and Chrysler around 2009 and
8 out of 10 of their vehicles were made out of country (Mexico and China).
Sure, a few are ASSEMBLED in the USA from parts made around the
world. But those Execs and Union Boys are important to the fabric
of our society. Plus, they have the CongressCritters bought and paid for.


That was Obama. It was a lot different.

Carter gave Chrysler the first 'bailout' It was a long guarantee.
The Tarp money under Bush was a loan with interest payments.
The Auto Bailout under Bush was a loan of operating cash until the Auto Industry wrote up its bankruptcy plans, which were to include how the loan would be repaid from the dissolution of the companies.
Obama just handed the companies 65 Billion in taxpayer money and took a stake in bankrupt companies. 15 Billion was lost in that deal. (And it exacerbated economic stagnation)
Obama was such a fucking failure, that the stink he put on the term 'bailout' resonates with everyone. But bailouts by savvy economic minds are a completely different thing than that dog.
BadBrad, Librarian  likes this!
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#5
(03-23-2020, 10:01 PM)St. Blue Dude Wrote:
(03-23-2020, 07:35 PM)BadBrad Wrote: We bailed out Generous Motors and Chrysler around 2009 and
8 out of 10 of their vehicles were made out of country (Mexico and China).
Sure, a few are ASSEMBLED in the USA from parts made around the
world. But those Execs and Union Boys are important to the fabric
of our society. Plus, they have the CongressCritters bought and paid for.


That was Obama.  It was a lot different.  

Carter gave Chrysler the first 'bailout'  It was a long guarantee.  
The Tarp money under Bush was a loan with interest payments.
The Auto Bailout under Bush was a loan of operating cash until the Auto Industry wrote up its bankruptcy plans, which were to include how the loan would be repaid from the dissolution of the companies.
Obama just handed the companies 65 Billion in taxpayer money and took a stake in bankrupt companies.   15 Billion was lost in that deal.   (And it exacerbated economic stagnation)
Obama was such a fucking failure, that the stink he put on the term 'bailout' resonates with everyone.    But bailouts by savvy economic  minds are a completely different thing than that dog.

plus, as part of the deal, they did not have to pay income tax for X number of years.
AND, the Gubermint, jumped in and started closing dealership around the country because.......?......because.
I'm sure they closed them for good reason as the government always knows what is best for us.

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#6
(03-23-2020, 10:10 PM)BadBrad Wrote:
(03-23-2020, 10:01 PM)St. Blue Dude Wrote:
(03-23-2020, 07:35 PM)BadBrad Wrote: We bailed out Generous Motors and Chrysler around 2009 and
8 out of 10 of their vehicles were made out of country (Mexico and China).
Sure, a few are ASSEMBLED in the USA from parts made around the
world. But those Execs and Union Boys are important to the fabric
of our society. Plus, they have the CongressCritters bought and paid for.


That was Obama.  It was a lot different.  

Carter gave Chrysler the first 'bailout'  It was a long guarantee.  
The Tarp money under Bush was a loan with interest payments.
The Auto Bailout under Bush was a loan of operating cash until the Auto Industry wrote up its bankruptcy plans, which were to include how the loan would be repaid from the dissolution of the companies.
Obama just handed the companies 65 Billion in taxpayer money and took a stake in bankrupt companies.   15 Billion was lost in that deal.   (And it exacerbated economic stagnation)
Obama was such a fucking failure, that the stink he put on the term 'bailout' resonates with everyone.    But bailouts by savvy economic  minds are a completely different thing than that dog.

plus, as part of the deal, they did not have to pay income tax for X number of years.
AND, the Gubermint, jumped in and started closing dealership around the country because.......?......because.
I'm sure they closed them for good reason as the government always knows what is best for us.

I've never even see anyone try to put a dollar figure on the lost tax revenue that Obama handed to GM as corporate welfare. The media just memory holed all that so the Ltards could yak about Republicans always wanting to help companies. Obama has done it on a scale that no republican could conceive of. And instead of doing it for successful companies so they could compete, he did it for a bankrupt company and exempted them from corporate taxes so they had an advantage.
BadBrad  likes this!
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#7
POTUS spoke about this today at the presser. He was very clear that he wanted to save the jobs. I think there's going to be an investigation into boing before any money is given, although a senator tonight said they have to pay the government back a fixed amount on a montly basis.

Have noticed that the President seems to focus on things and then people dig up all kinds of stuff that usually isn't so good and then it's discussed. I think you should have more faith in the President.
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#8
It is insane to think that he would give them the 60 Billion without asking for 60 Billion in Stock from them in exchange for the loan which the US government would agree to hold until after the crisis. Or at least negotiate.

What kind of business man negotiates a deal like this as it stands? He should at least try and get something in return for the tax payers and their children who will be paying the interest on this deal for many years to come.

Pope Trollalotta  likes this!
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#9
They won’t pay the government back. That company has been in trouble for a long time.
I am so tired of giant corporations getting help. Meanwhile the citizens of this country are have to help each other.
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#10
(03-24-2020, 12:01 AM)Guest Wrote: POTUS spoke about this today at the presser.  He was very clear that he wanted to save the jobs.  I think there's going to be an investigation into boing before any money is given, although a senator tonight said they have to pay the government back a fixed amount on a montly basis.

Have noticed that the President seems to focus on things and then people dig up all kinds of stuff that usually isn't so good and then it's discussed.  I think you should have more faith in the President.

Boeing has more Senators in it's back pocket than any company in America. Ain't nobody investigating that Golden Goose.
Pope Trollalotta, Zoo Keeper  likes this!
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