The debate on bail-outs – It seems that maybe there will be consideration for directing money to the most vulnerable.

Nobel economist: The COVID-19 stimulus can’t be a corporate bail-out — We need a new playbook for relief

……..

This is all prelude to the current debate over responding to the COVID-19 crisis. Had big business not treated itself so well, it would have had an ample cushion to weather the storm. Had it lived up to its promises of greater investment and higher wages, Americans would have placed greater trust in it;  likewise, if it hadn’t resisted giving workers a measly 10 days of sick leave even limited to the crisis itself.  Our democracy and economy is at great risk if we respond to COVID-19 by giving money to the loudest and most powerful corporate voices rather than thinking through where funds are most needed.

Trump’s coronavirus bailouts could extend to auto industry

Administration open to taking a stake in businesses like U.S. did with GM

ReutersMar 20th 2020 at 10:50AM

WASHINGTON — President Donald Trump said Thursday that his administration’s plans to provide economic assistance to U.S. businesses hit hardest by the coronavirus pandemic will extend to the auto industry “at least a little bit.”

According to Bloomberg, Trump told state governors on a call Thursday that his administration is “watching the auto industry very much.”

“We’re going to be helping them out at least a little bit, and they’ve sort of requested some help, and it wasn’t their fault what happened. So we’ll be taking care of the auto industry,” he said.

If We’re Bailing Out Corporations, They Should Bail Out the Planet

Bill McKibbenMarch 20, 2020

One of the best chances to make some positive use of the coronavirus pandemic may be passing swiftly. As the economy craters, big corporations are in need of government assistance, and, on Capitol Hill, the sound of half a trillion dollars in relief money is bringing out the lobbyists

Aviation Policy News: Aviation Industry Seeks Bailouts Due to COVID-19 Impacts

The Trump administration has proposed a $50 billion bailout of the airlines during the coronavirus pandemic By Robert Poole March 18, 2020

‘Least deserving’ Branson roasted as Virgin Atlantic seeks massive state-sponsored bailout despite not paying staff

Billionaire Richard Branson is coming under fire from politicians and regular citizens alike as the tycoon sought hundreds of millions of pounds in state aid for his Virgin Atlantic airline due to the Covid-19 crunch.

It quickly put its staff on unpaid leave and has led the calls for a state-sponsored bailout of the industry. However, it plans to use the funds to cover fixed costs, rather than to pay its staff, who won’t be getting a paycheck from the company for at least eight weeks.

Green Party peer Natalie Bennett led the criticism, branding Branson the “least deserving” candidate for a bailout. “Richard Branson is already the UK’s largest benefit recipient, and least deserving… No bailout for [the] man who I’m sure just lives in a tax haven for weather,

Broadcaster India Willoughby added:

Trying to figure out why a billionaire who sued the NHS, lives in a hammock, pays no UK tax and builds spaceships wants you and me to bail him out.

Most cruise lines don’t pay federal income tax — just one of the reasons they aren’t getting a bailout

Cruise lines, which have been pummeled by the economic impact of the coronavirus, may not be eligible to receive relief through the bailout fund included in the $2 trillion stimulus bill passed on Friday.

Why Cruise Lines Should Be At The End Of The Bailout Line

With travel bans and trip cancellations, the travel industry overall (e.g., airlines, hotels, OTAs and cruise lines) has been brought to its knees by COVID-19 but many believe that government subsidies to industries should support workers and the general public, not corporations

This site uses Akismet to reduce spam. Learn how your comment data is processed.