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Related: About this forumLawmakers: Protecting jobs is priority in any Boeing bailout
Stunned by the rapidity with which the coronavirus crisis has gripped America in a chokehold, Congress on Friday scrambled to agree on a massive financial-relief package that could prevent economic collapse on top of the mounting toll in human lives.
But key players insist that any such government aid while preventing permanent damage to the nations infrastructure, including the aerospace-manufacturing sector topped by Boeing and its major suppliers should come with conditions that preserve the workforce rather than bailing out shareholders for their losses.
The money has to be used for the continued operation of the company, said Rep. Rick Larsen, D-Everett, who chairs the Aviation Subcommittee of the U.S. House Transportation and Infrastructure Committee. Its not to be used for anything else. Executives dont get bonuses. Shareholders dont get dividends. There are no share buybacks.
Sen. Maria Cantwell, in a phone interview during a break from the U.S. Senate negotiations, said Senate Republicans had already accepted as inevitable that any deal must cap executive pay and end dividend payouts and share buybacks.
https://www.heraldnet.com/business/lawmakers-protecting-jobs-is-priority-in-any-boeing-bailout/?utm_source=DAILY+HERALD&utm_campaign=7bdb81343a-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-7bdb81343a-228635337
matt819
(10,749 posts)Id rather see billions for corporations become billions for individuals and genuinely small businesses.
Government and business tell us to have money saved for rainy days. But somehow they seem exempt. And bailouts allow them to perpetuate their questionable business practices.
True Blue American
(17,986 posts)Now speaking.
abqtommy
(14,118 posts)and designers in prison.
Chainfire
(17,549 posts)The bailout needs to go directly to the employees, not the idiots who approved the sale a plane that is not, and apparently can't be made airworthy. Perhaps Airbus could run the company better and perhaps that would be a better way to "protect the employees." Business failures should happen in a Capitalist society, it is corporate Darwinism.
I saw that the Airlines were asking for "grants" this morning. Grants, my ass, give them loans to pay their employees while they are out of work. When their airplanes are parked, they aren't incurring great expenses. What they are missing is dividends.
None of these bastards want to share their profits with the people in good times, and we don't need to be giving welfare to the stockholders; the very people who don't want workers to have health care or a living wage.
The Republican leadership is falling all over themselves to redistribute the wealth of the country from the workers to the shareholders. We need to put our collective foot down and say Hell no, loans, but no handouts. Support the workers, and let those who risk their fortunes on the market accept the risk.
I am sick and tired of living in a Corporatocracy posing as a Representative Democracy. I am sick of our Congress acting as if they are on the board of directors of the mega businesses.
We need campaign finance reform and we need to throw lobbyists the hell out of Washington, and our of our pocketbooks. It is our country and we need to take it back. Let these poorly run companies fail, it will be painful for a while, but we will get over it. We would come out the other side with a stronger, more fair system.