Directly via bailouts and indirectly via inflation, COVID was the biggest wealth transfer to the rich in history.
1% loves pandemics.
Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
21–30 of 346 posts
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#22Stop using marketplaces and book directly, these companies have no risks and take 16% to 30% commissions. If consumers start booking directly, recovery from the pandemic will be much faster.
Any “solution” to the problem of excessive power of platforms that is based on the “individually do the harder thing” is bound to miserably fail.
I think this kind of fallacy should have a name by now.
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#23The real error here is public money being given to private companies. Let them break Fund people, not companies
It's actually quite shocking how, when the primary idea is "dump money into the economy," giving the money to people instead of banks or firms is so controversial. It's more socialist and more capitalist, if you believe in that sort of thing.
I'm not saying you're wrong when I say consider the following: if every individual had a bunch of free money and decided to not work, then the next day they drive to the store and there is no one working... what do they do? Didn't you just cause a ton of inflation?
At the end of the day, money doesn't solve problems. Work being done solves problems.
How that should affect policy... I have no idea but I can see both sides of the problem.
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#24It's interesting the CFO got more than 3x the CEO, and more than 2x CEO + VP. Does anyone know the reasoning behind that? It seems a bit shady to me in general for a CFO to be paid large performance bonuses.
The quartermaster runs the show on a pirate ship. The captain gets all the fanfare.
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#25Earlier quoted context omitted.
It was a deal where companies wouldn't discard the workforce in exchange for money. It didn't come with a ban on bonuses, but it did come with a bunch of middle-aged white men frowning at different middle-aged white men for not pausing the bonus culture.
What does age/race/gender have to do with this?
If you replace "middle-aged white man" with "soulless corporate stooge" nearly anywhere this phrase is used, the replacement term will fit. The term "middle-aged white man" is a caricature of the extremely wealthy and powerful, even though (I believe) it is a misleading and inaccurate portrayal.
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#26I'm surprised anyone is surprised. Here in the US we've spent several trillion dollars on Covid relief so far, and there's more to come. When you're dealing with a torrent of printed cash of this magnitude, there's of course going to be a lot of it that ends up in the wrong hands for the wrong reasons.
No one would be surprised if this was about the US, but it's that "euro" symbol that makes it surprising.
[flagged]
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#27Directly via bailouts and indirectly via inflation, COVID was the biggest wealth transfer to the rich in history.
How does inflation help the rich? Doesn't that devalue their net worth?
Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#28Re: Booking.com gives €28m in bonuses to three top execs; Took €65m in State aid
#29Stop using marketplaces and book directly, these companies have no risks and take 16% to 30% commissions. If consumers start booking directly, recovery from the pandemic will be much faster.
> Stop using marketplaces and book directly
Easier said than done if you want to pay with anything else than cash. Or if you want at least a somewhat functioning website where you can see if the venue is actually available and do booking.