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Thread: Unaffordable bailouts and buybacks: Bend over, here it comes again!

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    Quote Originally Posted by Hoosier8 View Post
    We are getting a two week unpaid furlough for salaried people. Could be extended.
    I'm 'essential personnel'. I'd rather the furlough, personally, but someone (me and a dozen others) has to keep the company running. Enjoy your time off.
    Quarantine is to restrict the movement of sick people.
    Tyranny is to restrict the movement of healthy people .

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    Quote Originally Posted by Collateral Damage View Post
    One more time. If they do not use the funds as designated it is a loan and must be paid back. Capisce?
    The real cost to the US economy , is what these corporation do with the free money , before they pay it back . It's a ponzi scheme .

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    Quote Originally Posted by Collateral Damage View Post
    I'm 'essential personnel'. I'd rather the furlough, personally, but someone (me and a dozen others) has to keep the company running. Enjoy your time off.
    Everyone will be effected in one way or another as we mainly contract and sell equipment. Even though I am salaried, I am essential support for the software I created and support. I would assume many of the managers might not be missed. The great thing is not being able to use the phone or email during the furlough for legal reasons. A break from calls I take on vacation.
    CNN’s Jim Acosta Shouts at Trump: ‘Is This Still a Democracy?’TRUMP: "No, it never was. We are a Constitutional Republic.You should take a Civics lesson Jimmy."

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    Quote Originally Posted by PJL View Post
    The real cost to the US economy , is what these corporation do with the free money , before they pay it back . It's a ponzi scheme .
    Irrelevant if the company is no longer in business after all this.
    CNN’s Jim Acosta Shouts at Trump: ‘Is This Still a Democracy?’TRUMP: "No, it never was. We are a Constitutional Republic.You should take a Civics lesson Jimmy."

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    Quote Originally Posted by PJL View Post
    The real cost to the US economy , is what these corporation do with the free money , before they pay it back . It's a ponzi scheme .
    Considering the paperwork to be filled out, the statements that need to be made, signed, and initialed (yes, I have already started on it) I'm sure if they do not use at least a part of the money as required, they won't be just walking away. These loans are for employers with less than 500 employees. Corporations with more than 500 are exempt, so I don't know what companies you think are going to do at that stage.

    It's not 'free' money. No money is 'free'.
    Quarantine is to restrict the movement of sick people.
    Tyranny is to restrict the movement of healthy people .

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    Quote Originally Posted by Hoosier8 View Post
    Irrelevant if the company is no longer in business after all this.
    It's been relevant ever since they started doing it in 2009 - probably even more relevant now .....even if the corporation goes belly up , it won't cost those who been skimming all the cream.....they'll walk away laughing.

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    Quote Originally Posted by Collateral Damage View Post
    Considering the paperwork to be filled out, the statements that need to be made, signed, and initialed (yes, I have already started on it) I'm sure if they do not use at least a part of the money as required, they won't be just walking away. These loans are for employers with less than 500 employees. Corporations with more than 500 are exempt, so I don't know what companies you think are going to do at that stage. It's not 'free' money. No money is 'free'.
    I fully support whatever small to medium business's can get at the moment , to keep their crews and workers together.......my question is about the $ 500 billion that was allocated to big companies and corporations.......I hope they spend it wisely - that's a wait-and-see proposition . We been filling out similar paperwork here . I think when this is all over , the tax office will be auditing their guts out for a while , idenetifying anyone who pulled a rort .
    Last edited by PJL; 04-01-2020 at 09:41 AM.

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    Quote Originally Posted by PJL View Post
    I fully support whatever small to medium business's can get at the moment , to keep their crews and workers together.......my question is about the $ 500 billion that was allocated to big companies and corporations.......I hope they spend it wisely - that's a wait-and-see proposition . We been filling out similar paperwork here . I think when this is all over , the tax office will be auditing their guts out for a while , idenetifying anyone who pulled a rort .
    They are straight out loans. I am sure the terms of those loans will have restrictions, but I don't have the time right now to hunt them down. Time is of the essence for the SBA 7(a) paperwork.

    Section 4003 of the legislation accounts for $500 billion for “emergency relief and taxpayer protections.” Of that money, $50 billion would go to passenger airlines, $8 billion to cargo airlines, $17 billion for companies deemed important to national security, and $425 billion for businesses, cities and states.
    Quarantine is to restrict the movement of sick people.
    Tyranny is to restrict the movement of healthy people .

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    Quote Originally Posted by Collateral Damage View Post
    They are straight out loans. I am sure the terms of those loans will have restrictions, but I don't have the time right now to hunt them down. Time is of the essence for the SBA 7(a) paperwork.
    Two in both bills. No stock buyback and no raises for CEO.
    CNN’s Jim Acosta Shouts at Trump: ‘Is This Still a Democracy?’TRUMP: "No, it never was. We are a Constitutional Republic.You should take a Civics lesson Jimmy."

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  13. #30
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    Quote Originally Posted by Hoosier8 View Post
    Two in both bills. No stock buyback and no raises for CEO.
    I hope that can keep them honest......but if they find a loophole , they will use it.

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