Many airlines spent billions of dollars on their own stocks over the past decade, and are now receiving almost $60 billion of aid from the US government. The airlines say the help is necessary to keep paying their employees, but in some cases, the total buyback amounts over the years could have covered employee salaries during the COVID-19 coronavirus pandemic.
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The Best Way To Understand Why People Are Mad At The Airline Bailout…(read more)
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The recent airline bailout has sparked controversy and outrage among many individuals who fail to understand why the government is providing assistance to the airline industry. In order to fully comprehend why people are upset about the bailout, it is important to consider various factors that have contributed to the public’s frustration.
One major reason for the backlash against the airline bailout is the perception of unfairness. Many Americans are struggling to make ends meet due to the economic fallout of the COVID-19 pandemic, with record numbers of people being laid off or furloughed. Despite this, the government has chosen to allocate billions of dollars to bail out the struggling airline industry, which is seen as a move that prioritizes corporations over individuals.
Another factor that has contributed to the public’s outrage is the history of the airline industry. Critics of the bailout point to the fact that many airlines have engaged in practices that are harmful to consumers, such as charging exorbitant fees for checked baggage, overbooking flights, and providing poor customer service. These practices have eroded trust in the industry, leading many to question whether airlines deserve government assistance.
Furthermore, there are concerns that the airline bailout will not directly benefit workers in the industry. While the bailout is intended to help airlines retain employees and prevent further layoffs, there is no guarantee that the money will be used for this purpose. Many fear that airlines will instead use the funds to enrich their shareholders or executives, further exacerbating income inequality.
The lack of transparency surrounding the airline bailout has also fueled anger among the public. Many individuals are frustrated by the fact that the bailout process has been shrouded in secrecy, with little information provided about how the money will be distributed and what conditions will be attached to the funds. This lack of transparency has only served to deepen suspicions that the bailout is a handout to big corporations, rather than a necessary measure to protect workers and the economy.
In order to address the public’s concerns about the airline bailout, it is crucial for the government to provide greater transparency and accountability in the allocation of funds. This could involve disclosing detailed information about how the money will be used, implementing safeguards to ensure that the funds are used to protect workers, and increasing oversight to prevent abuse of the bailout funds. By taking these steps, the government can help restore faith in the bailout process and alleviate the anger and frustration that many feel towards the airline industry.
President Clinton's Secretary of Labor Robert Reich spoke out against an airline bailout. Watch Business Insider's live interview with Reich as he breaks down what workers, employers, and the government can do to find the best possible solutions for unemployment and income inequality during the coronavirus outbreak. http://bit.ly/RobertReichLive
Make the airlines pay back every cent of their bail out. NO ONE should profit from the misery American citizens.
So are the airlines fares going down? Can I fly first class SINCE I PAID FOR THAT BAILOUT!!!!????
Senoir counter agents make $33.00 an hour! Thats more than a GM at mcdonalds. As a primary source i even seen supervisors purposely write awful schedules to guarantee the staff has opportunity for overtime. Our money should not go to pay a counter agent at american airlines $50 an hour to stand there and be rude to the public. Who cares if 75,000 airline employees lose their jobs there 14million american who have already been living through the pandemic without jobs. The airlines is the entire reason the pandemic has spread as fast as it did. Do not use our money to pay the senior flight attendants $99.00 annhour because they dont want to retire and the union protects their ridiculous salary. The entire airline can rehire and train new employees at a standard rate of $15.00 an hour. The payroll system is horrendous and the airlines are destined to fail with or without bail just based on that alone. The unions coleect $14 a minth from employee the protect their salary. Need i say more? Let them claim bankruptcy let them shutndown so they can rebuild and this never repeats in history again. The union collect $14.00 a month from employee thats $168.00 a year just from 75,000 employees that yeilds $12,600,000 a year
If corporations are people, then they shouldn't be bailed out like people.
Why all airlines buybacks starts from 2014? What changed ?
I just don't get it – and might not ever will!
When one adds up how vacations are packaged: air, car, transfers, hotel(s), excursions, cruise, fees, and whatever else comes to mind for peace and relaxation, surely, the last industry one think of regarding insolvency is — the airlines!
Dang it!! I guess now is not the right time to ask the boss for a raise?
I STILL DON'T UNDERSTAND BUYBACKS!!! Or maybe I don't understand why this is considered a problem bc it's not illegal. All of the airlines do it. It seems the problem with buybacks is everyone is saying had the airlines not done this they would've been able to pay for their own internal problems, but that's assuming the airlines would've used those funds on other profitable investments. Here's why I don't understand. If AA buys back their own stock I don't see how that is profitable or helpful to them in a crisis when you want to unload stock. Currently AA stock is lower than Spirit Airlines stock. The WORST airline on the planet is considered more valuable than the largest airline in the U.S. That is why this is all so unclear to me.
No more bailouts
Safe and sound
This is grand theft as its finest
If youre rich, steal from the tax payers when bankrupt
If youre poor its your fault
a great rundown of the issues
Don't blame the airlines for not having any savings.
On average, their profit margins are about 2%.
You can blame them for bad management and customer service, but not for the lack of savings.
I have got to write my say about what has been unfolding the last few months during COVID-19 pandemic and this fake
System that everyone is trying to keep up and sustain as is.
Especially in the area of financial bailouts and quantitative easing. If anyone would print money
from home, they would be called a crook if they want to add it to the existing System. But Governments are printing money at a rate that is unbelievable from
absolutely no value at all. One has to ask who introduced this kind of System ?
Who were the people who approved of this and by what authority ? During the last few weeks we have seen the largest amounts of printing money in the form or IOU’s, Bond buying, Gilts, Shares and other buying up of debts. Nowhere in the basic schoolbooks this is been taught or written. Yet we are forced to go to school to learn this in preparation to live in the society of hard work and being paid money that is no money but currency. Currency is created by the Government, Central Banks, IMF, reloaned by fractional lending to the customers who want to have a loan, mortgage or other means like using credit cards and prepaid credit cards. Liabilities are now assets for those who can find a victim to pay for what they took out as liability and put it as assets on their accounts in order to live from it and not paying any tax from it themselves.
The victim is paying the tax for them, not themselves. This is wicked and evil because the victim is already paying tax from all kinds of things. The
Government says they are guaranteed by them. Which is dishonesty and immoral thing to say. It is supported by those that want to continue in that kind of
text. Why is it dishonesty and immoral, because it is not Government guaranteed, but by the Tax payer that is siphoned off while you work. In the
past few months, Trillions of non-existing currency has been used to bail out businesses, people who are unemployed because of the COVID-19 pandemic. Which
means all new currency created has been creating from nothing. In simple terms, numbers put in a computer on the balance sheets and paper money printed to be brought in circulation. How is this moral ? No it is not, nor it can't be ! Why ? Because if you went to school to learn that 1+1 = 2 then how come it is now
minus trillions upon trillions on the balance sheets and ledgers. The schoolbook has been raped and thrown to the ground and trampled upon by those
who do this, the teachers did not say nothing of what they taught to the children and later adults and were eagerly willing to get the hand outs from
the newly created money that was lost on the stock markets. Which now has been propped up with Trillions upon Trillions and agents took their commission out
of it and it still has not stopped to do this in the future. This helicopter money/currency is invalid of having no value against it. It is by word of mouth
this is believed it has any value. All it is, is numbers typed in a computer, plus and minus. The wickedness of this all is that everyone just took this FIAT
money from their taskmasters who will later bring in price rises, inflation and increased taxes while they themselves who work for the Government from that
currency that is created. This is false, immoral and evil. What it means if they can create all that money out of nothing and have propped up everything,
there is no reason to go to work like that. You can have an excuse we printed or created it anyways to get thing going with later telling people go to work,
in order to be paid with fake FIAT money and pay taxes out of it. This is very immoral. It is dishonest and false. What it is then ? Well, it is theft,
deception and simply evil. If we do not comply we will be punished by the same people that get money out of this currency stack that they are upholding and this
is complete dishonesty. People are being killed for a fake 20 dollar note by those police officers that put their knee in their neck for 8 minutes and 47
seconds to make their case, YET, all those who create this fake FIAT money go free and get no knee in their neck for 8 minutes and 47 seconds until they have
died while screaming, I can’t breathe ! I know now people who do not care about this at all, yet profile themselves are moral and honest. While they clearly
are not ! These are the one’s that want to keep up that System that is the root cause of poverty among the poor, the disabled, the less bookish, the least
educated. Education now means, I have got more knowledge than you that came from someone else that wrote that knowledge so now I have to be paid more than another person.
This in comparison with shop stackers, road cleaners, drain cleaners, other cleaners, cashiers, nhs nurses, bus drivers, bank tellers,
other low level workers. These were the guys that kept the countries running. Not those with their big education because they were all told to sit at home
with their high level education, their logic, their pedantic talking to you when you did not stack up to their high level visibility that was useless in
the case of this COVID-19 pandemic. But they were not choked on the fact they could get free money from the Government that later must be paid back by the
entire society that will be taxed, price increases and the inflation of many goods that are needed such as Petrol, Diesel, Electricity, Water, Public
Transport, Aviation and Tourism for example. How these people can hold up they are moral and honest is just a farce to me. They don’t have to come to me and
say how moral or honest they are, while they are downright immoral, liars and thieves from everyone else’s money that the Government will extract from OUR
MONEY that is OURS not theirs by every means that is possible ! The story is: Government gives you money by literally forcing their hand in your wallet,
purse and bank account, then later tell you, what I have taken from you, you now need to pay back more when you work, pay tax and through price increases,
public transport ticket rises and many other matters from non-existing currency turned to money that has no value whatsoever. How can Government chancellors sleep, Bookkeepers, Accountants, even to the Petty Cash book owners about how they have been duped, lied to, deliberately being deceived and misled in their own consciousness when taking from another, bail out those that are already rich and have big bank accounts and do not pay from that. My personal opinion ? IT is a Disgrace ! Evil ! And those who are in it think, I don’t know their schemes and traps they are setting out. The fact is, I know it and I am
speaking out while others keep quiet being hypocritical and only looking about saving themselves out in it and keep ignorantly being deceived, immoral, keep
lying for others and carry on to uphold it. I am convinced and know that the existing way of upholding this that nothing will be resolved ever in poverty,
sickness, slums, housing shortage, inequality with this kind of immorality and deception in place for those that invent these immoral and dishonest rules and
regulations. For 12 years where I live we were put on austerity in 2008 onwards. Now money can be created by the stroke of a pen and at will that is nonexistent
and no value against it. Money needs to have value in order to be used to pay for something. This is clearly not it and immoral and deception and above all
fraud. I want accountability for those who have created this and imposing this upon those that unable to get out of this in their lifetime.
https://www.thisismoney.co.uk/money/news/article-1691752/Cheated-and-deceived-out-of-3bn.html
We are constantly being cheated and being deceived with false promised from Politicians and those in the Councils.
We are given 0.00% interest now on savings accounts, while they are using it on the stock market to make gains
from our money.
We are charged high interest rates when we want to use credit cards, loans and mortgages.
How can everybody sitting still and not being disturbed by this and just accept this ? This is our money. Not
theirs. They never had any in the first place and being immoral and deceiving
is their way to treat us.
We should not accept this, we must not sit still and go with what they give us as scraps and use the system to
make victims of their liability schemes and traps they have set out.
Is there anyone who want to fight with me about this immorality and falsehood ? Who ? Why do we keep swallowing
this ?
No bailout
I disliked the video