zlacker

>>hhs+(OP)
Glad to see this from Amazon, although I see it heading off the inevitable. Wouldn't this be the most powerful moment for employees in 'essential' services to engage in worker strikes? Is there any legal precedent for what governments would do?

With all this war rhetoric thrown around, it seems a reasonable jump to declare essential workers troops on the frontline deserving of what we give other troops (free health care, pension, heavily subsidized secondary education)

>>bdefor+T7
Yes. When the bailouts for so many others are happening, people in meat-packing plants, checking out groceries and delivering mail etc need major wage increases.

I think around 3X current levels. USPS mail carriers and handlers are being given no guidance or support right now either.

>>bredre+L9
> When the bailouts for so many others are happening

I don't disagree that the support for, say, airlines, are bailouts, but the connotation that word has from 2008-2009 mischaracterizes what's going on right now. When this all blows over, you absolutely want airlines ready for business. Letting heavily impacted businesses fail is a recipe for a depression.

>>dehrma+Ad
Airlines deserve no sympathy from how they've spent 90% of free cash flow over the years buying back their own stocks.

Now when times are tough they have no cash reserves and are seeking government bailouts.

Just appalling.

>>steven+qy
Even if they saved literally every penny of profit made in the last 5 years, including buybacks, the most profitable airline would've had 4 (now closer to 3) months of cash reserves in a situation like this one. Is it really reasonable to expect a corporation to plan for every black swan like this and just totally ignore shareholders? Why would anyone be a shareholder if it means not getting anything when times are good and lose value when times get harder?

But I'm against airlines getting bailed out. It's a huge moral hazard imo to just remove the risks of investing in... a risky sector. Bankruptcy courts should deal with this and lenders should take the hit too. Still, blaming this on share buybacks doesn't make a lot of sense... A corporation hoarding money is bad.