Privatize the profits, Socialize the losses, that's the American Dream.
America's bailed-out airlines are not 'playing fair' with customers
31–40 of 171 posts
Re: America's bailed-out airlines are not 'playing fair' with customers
#32Earlier quoted context omitted.
This is a bad faith question. The real question is, “Why were the airlines so poorly equipped to handle a cataclysmic event when the last one was only 19 years ago?” The answer is short term profitability. And the follow up question is, “Why would ANYONE bail any for-profit company out to the benefit of the shareholders only, ever?”
How could an airline company possibly be equipped to handle this kind of situation? If you want to be competitive on the market you need to lower costs and cut down on margins. You can't just have a big pile of money lying around "in case all flight is halted for a few weeks/months"
> If you want to be competitive on the market you need to lower costs and cut down on margins.
Yes, exactly. There are certain businesses that should not be subject to market forces: essential services that have tiny margins.
> You can't just have a big pile of money lying around "in case all flight is halted for a few weeks/months"
Then you get nationalized ¯\_(ツ)_/¯. If you want to be privatized again, make enough money to do buybacks.
Re: America's bailed-out airlines are not 'playing fair' with customers
#33Earlier quoted context omitted.
This is a bad faith question. The real question is, “Why were the airlines so poorly equipped to handle a cataclysmic event when the last one was only 19 years ago?” The answer is short term profitability. And the follow up question is, “Why would ANYONE bail any for-profit company out to the benefit of the shareholders only, ever?”
How could an airline company possibly be equipped to handle this kind of situation? If you want to be competitive on the market you need to lower costs and cut down on margins. You can't just have a big pile of money lying around "in case all flight is halted for a few weeks/months"
Maybe by not doing billions worth of stock buybacks over the last 10 years?
They've literally been shut down for what... a month??
Re: America's bailed-out airlines are not 'playing fair' with customers
#34Earlier quoted context omitted.
Serious question: do we have historical comparisons, can we refer to instances where nationalizing in the wake of a bailout led to positive results? The one comparable I can think of in the US is Amtrak, which is functional although not exactly wildly successful.
If we let the airlines go under, I wonder how much funding so called bullet trains and Hyperloop, etc would get in the USofA. We depend on Airlines way too much. Edit: Maybe not "go under", but at least try and bail themselves out. We need to fund alternatives.
The planes won't vanish. The staff won't vanish. When demand resumes, new airlines will fly new routes, and those who made a fortune over the last 10 years from stock buybacks will be the ones who lost.
Clearly that won't happen. Income taxes will rise to pay for the stockholder protection act. Tax the productive to subsidize the wealthy.
Re: America's bailed-out airlines are not 'playing fair' with customers
#35Privatize the profits, Socialize the losses, that's the American Dream.
They often result in solid financial returns for the government holder of equity.
Re: America's bailed-out airlines are not 'playing fair' with customers
#36Earlier quoted context omitted.
This is a bad faith question. The real question is, “Why were the airlines so poorly equipped to handle a cataclysmic event when the last one was only 19 years ago?” The answer is short term profitability. And the follow up question is, “Why would ANYONE bail any for-profit company out to the benefit of the shareholders only, ever?”
How could an airline company possibly be equipped to handle this kind of situation? If you want to be competitive on the market you need to lower costs and cut down on margins. You can't just have a big pile of money lying around "in case all flight is halted for a few weeks/months"
> You can't just have a big pile of money lying around in case...
Banks and corporations are requiring their employees and the government to do this for them, while simultaneously claiming to be profitable.
Re: America's bailed-out airlines are not 'playing fair' with customers
#37The government is failing badly at every level. That's more clear now than ever. Serious question: Why would you want to give them more to fail at?
>The government is failing badly at every level. Just the executive branch, which was elected by a certain segment of our society. Thankfully (hopefully) it only lasts 4 years, and not 20.
Just the executive branch? You should look into the corporate manipulation of the legislative branch- buying elections with PACs, gerrymandering, voter suppression, the filibuster, extreme partisanship on every topic except the protection of wealthy donors...
Re: America's bailed-out airlines are not 'playing fair' with customers
#38Earlier quoted context omitted.
Serious question: do we have historical comparisons, can we refer to instances where nationalizing in the wake of a bailout led to positive results? The one comparable I can think of in the US is Amtrak, which is functional although not exactly wildly successful.
GM and AIG are two examples from the last financial crisis. Both went back into private hands.
At a small profit to the US taxpayers, even.
Re: America's bailed-out airlines are not 'playing fair' with customers
#39Re: America's bailed-out airlines are not 'playing fair' with customers
#40If we give bail outs, we should get stock/control. End of story. All bailed out companies should be nationalized to some extent, depending on the value of their stock and how much the government buys. A board/council of nationally elected representatives should manage whatever share of these companies the government owns. It's time the citizens started getting a return on their tax dollars if they're being used for p…
Grinding wheat with sandstone plagued Ancient Egypt. If you're a god, why do your teeth rot?
All these devices made with bail outs spread a killer flu.
"I'll just die!" says our amoral, win at all costs celebrity driven society, while we go into debt to increase the price of oil.
Recent developments suggest the human brain lives long after death. Even if the brain is destroyed, I'm sure we can rip your consciousness back out of creation somehow.
If it's not right, don't do it. Stay at home. Contribute knowledge. Get a box of free stuff. I'm not spending trillions just so rich people can have a restaurant.