Tell Congress: Put trains into airline relief package

[Watts_Up]

I noticed the following posting and wanted to share with you.

I'am just surprised that public transportation, especially electric trains and subways, are not included in this relief package.

Tell Congress: Put trains into airline relief package​

There is stimulus bill moving through Congress very quickly. The Senate is hoping to act this week.

The airlines are asking for $45 billion and the airports are asking for $10 billion
to help them overcome the drastic reduction in travel in the last two weeks.

Fast, frequent and dependable trains are just as important as airlines in keeping the country connected.
Amtrak, Brightline and commuter railroads are feeling the same impacts that the airlines are.

It is urgent that you get a message to Congress today:

Include trains in the airline relief package.​

 

[S'toon]

Are these the same airlines which made record profits over the past ten years, but spent all their profits on stock buybacks and executive bonuses?

These corporations deserve bailouts why?

 

[MXLRplus]

Are these the same airlines which made record profits over the past ten years, but spent all their profits on stock buybacks and executive bonuses?

These corporations deserve bailouts why?

Yes, Pan Am, TWA, Continental, Northwest and all of other gougers should be ashamed. We need regulated airline prices again because flying remains too cheap. I long for a return to airfares that only the wealthy could afford. Skrew competition that never works.

 

[msm859]

Yes, Pan Am, TWA, Continental, Northwest and all of other gougers should be ashamed. We need regulated airline prices again because flying remains too cheap. I long for a return to airfares that only the wealthy could afford. Skrew competition that never works.

That is a non-sequiter. He is not asking for regulation. However, if the company is going to "die" without taxpayer bailout there should be strings attached. 1. Forever forbidden from stock buyouts and 2. Limitation on executive compensation in relation to the average wage of the workers for the company. As a bonus if anything it will keep prices low.

 

[nwdiver]

If they get nationalized there should be a $1/ passenger mile carbon surcharge that goes toward EV and PV credits.

If you REALLY want to fly round trip coast to coast then the cost is ~$7k.

 

[S'toon]

 

[S'toon]

Before Mitch McConnell, his Radical Republican Senate conference and Steve Mnuchin hand over billions of dollars to a ragtag collection of corporations—gamblers, bankers, airline executives and whoever else is saddled up at the trough—here’s a suggestion: Make Every CEO take a basic family-finance class.


Yes, they probably know how to balance a checkbook or know the difference between an APR and a nominal interest rate. They can probably tell you it’s smarter to pay off a 15% credit card before paying off a 7% college loan.


But one lesson they’ve clearly missed: Have sufficient savings to get you through at least three-to-six months without a paycheck.

Here’s personal finance guru Dave “No Debt” Ramsey: “If you’re part of a two-income household or you’ve had a steady job for several years, then a three-month emergency fund is probably just fine. But if you’re a one-income family, you’re self-employed, or you earn straight commission, then a six-month emergency fund is probably a better idea for you… Even if there’s room in your monthly budget to pay for the expenses, it’s good to be prepared in case a big emergency hits.”

<snip>

But, after barely two weeks of coronavirus slowdown, here’s what CEOs are saying:


“If Congress doesn’t act on sufficient government support by the end of March,” wrote United Airlines CEO Oscar Munoz, “our company will begin to take the necessary steps to reduce our payroll in line with the 60% schedule reduction we announced for April. May’s schedule is likely to be cut even further.”


Roger Dow, chief executive of the U.S. Travel Association, said “it will take at least $100 billion to cover wages for two quarters, and then you take the rest of the industry, we’re talking $150 billion.”

<snip>

In other words, the CEOs of some of the country’s largest corporations aren’t financially smart enough to go a few weeks without paychecks. So like a deadbeat brother-in-law they come hat-in-hand to the people of the United States asking us to tide them over until they can get back on their feet.


I’d rather give the money directly to their employees and contractors. At least they’d try to do what Jean, Dave and Suze tell them they should be doing.

Full article at:
‘If they’re so smart why are they broke?’ Corporate CEOs looking for bailout funds flunk basic personal finance

 

[AceSkywalker]

In an ideal world, we'd use this opportunity to really bring down the use of aviation for good.

We can gut the fleets of airlines large and small. Air travel should be restricted for ultra-time sensitive cargo and legitimate passenger movement and be forced to pay a heavy true cost of flying tax. Such tax can be used to fund green programs and retrain the legions of unemployed airline employees.

General aviation (persons in their 4 seater Cessnas) needs to go away forever. Leaded fuel. Pilot training can move to electric airplanes. Flying as a hobby will need to be eliminated and demonized. Research needs to be accelerated to automate planes so the notion of piloting, like driving will someday be looked back upon as a primitive act.

That is a non-sequiter. He is not asking for regulation. However, if the company is going to "die" without taxpayer bailout there should be strings attached. 1. Forever forbidden from stock buyouts and 2. Limitation on executive compensation in relation to the average wage of the workers for the company. As a bonus if anything it will keep prices low.

Keep in mind the "average" wage will be inflated due to pilots in the latter half of their careers making stupid money. I've heard that US captains of large airliners can easily make more than most doctors. (I don't think that's right)