Sovereign wealth fund

[Dr. Boudreaux]

I like the idea that any companies that get bailed out, the people should all own their shares. seems like more people are talking about this and it's getting some traction.

The alternative is bankruptcy and liquidation, the existing shareholders are going to be screwed/wiped out anyway. OOPS! you made a bad investment! bear the consequences. capitalism, baby.

Dividends paid by the fund can go to everyone once a year, like Alaska's sovereign wealth fund, or alternatively, you get them upon retirement or something. This doesn't change how companies are being run, it's not "socialism" in the scary sense of the word; the companies will still operate to maximize profits, or the management will get booted.

This should absolutely be done to any companies that squandered all their cash to prop up their shares using share buy-backs over the last few years. That was simply bad, imprudent management.

I have no problem with this at all. If we actually did this it would go a long way to stop all of the "too big to fail" shenanigans we've had to deal with.

 

[Michchamp]

I have no problem with this at all. If we actually did this it would go a long way to stop all of the "too big to fail" shenanigans we've had to deal with.

Good.

Hey, you're pretty smart.

 

[Michchamp]

are you a real doctor?

 

[Michchamp]

Found this thread detailing what various companies and industries are asking for, in terms of gifts from DC...


$50 BILLION for airlines
$5 BILLION for Musk's & Bezos' space toys
$150 BILLION for hotels
$145 BILLION for restaurants
$5 BILLION for brewers
$500 MILLION for candy (if you don't have a billion dollars next to your ask, they probably ignore you)


and a bunch of others asking for unconnected things they don't like to go away, like VISA restrictions for low income workers (square Republitards green lighting that with their supporters chanting "BUILD THAT WALL"), and fast tracked payments to defense contractors...



Mitch McConnell's goal seems to be to make sure all the aid goes to corporate bank accounts, and none to people who need it, and Pelosi is going to give him that.

 

[Michchamp]

?Will coronavirus affect food supply? First problem: A possible shortage of workers. California?s nearly $50-billion agricultural industry is bracing for a potential labor shortfall that could hinder efforts to maintain the nation?s fresh produce supply amid the widening coronavirus outbreak. The immediate concern centers on a backlog in the recruitment of foreign guest workers because of the virus-related shutdown of consul offices processing agricultural H2-A visas in Mexico. The expected bottleneck in recruitment of temporary agricultural workers arises weeks before harvest time for crops such as strawberries and lettuce that heavily depend on the foreign crews along the state?s central coast and in Salinas Valley, according to growers and labor contractors.? [Los Angeles Times]​

why not just have Americans do those jobs?

I read unemployment filings are skyrocketing. It's just a matter of time for most of us.

Won't the Border Wall keep those H2-A workers from getting into the country anyway? Or will they have to fly, or take a boat around it?

 

[tomdalton22]

?Will coronavirus affect food supply? First problem: A possible shortage of workers. California?s nearly $50-billion agricultural industry is bracing for a potential labor shortfall that could hinder efforts to maintain the nation?s fresh produce supply amid the widening coronavirus outbreak. The immediate concern centers on a backlog in the recruitment of foreign guest workers because of the virus-related shutdown of consul offices processing agricultural H2-A visas in Mexico. The expected bottleneck in recruitment of temporary agricultural workers arises weeks before harvest time for crops such as strawberries and lettuce that heavily depend on the foreign crews along the state?s central coast and in Salinas Valley, according to growers and labor contractors.? [Los Angeles Times]​

why not just have Americans do those jobs?

I read unemployment filings are skyrocketing. It's just a matter of time for most of us.

Won't the Border Wall keep those H2-A workers from getting into the country anyway? Or will they have to fly, or take a boat around it?

most Americans are just lazy.

 

[tinselwolverine]

?Will coronavirus affect food supply? First problem: A possible shortage of workers. California?s nearly $50-billion agricultural industry is bracing for a potential labor shortfall that could hinder efforts to maintain the nation?s fresh produce supply amid the widening coronavirus outbreak. The immediate concern centers on a backlog in the recruitment of foreign guest workers because of the virus-related shutdown of consul offices processing agricultural H2-A visas in Mexico. The expected bottleneck in recruitment of temporary agricultural workers arises weeks before harvest time for crops such as strawberries and lettuce that heavily depend on the foreign crews along the state?s central coast and in Salinas Valley, according to growers and labor contractors.? [Los Angeles Times]​

why not just have Americans do those jobs?

I read unemployment filings are skyrocketing. It's just a matter of time for most of us.

Won't the Border Wall keep those H2-A workers from getting into the country anyway? Or will they have to fly, or take a boat around it?

Home Depots are still open.

I?m sure illegals still congregate there looking for day labor.

Just take all them school buses that aren?t being used, load ?em all in, and drive ?em up to Merced to pick lettuce.

 

[Spartanmack]

Found this thread detailing what various companies and industries are asking for, in terms of gifts from DC...


$50 BILLION for airlines
$5 BILLION for Musk's & Bezos' space toys
$150 BILLION for hotels
$145 BILLION for restaurants
$5 BILLION for brewers
$500 MILLION for candy (if you don't have a billion dollars next to your ask, they probably ignore you)


and a bunch of others asking for unconnected things they don't like to go away, like VISA restrictions for low income workers (square Republitards green lighting that with their supporters chanting "BUILD THAT WALL"), and fast tracked payments to defense contractors...



Mitch McConnell's goal seems to be to make sure all the aid goes to corporate bank accounts, and none to people who need it, and Pelosi is going to give him that.

I can square that. Building the wall is about stopping illegal immigration. Temporary increases visas for low wage guest workers is to promote legal, trackable workers - probably to address the food supply problem you highlighted in a subsequent post.

 

[Michchamp]

Boeing's CEO says his company would reject the handout if they sought equity in the company in exchange for the government's welfare check (link):

Boeing chief executive David Calhoun on Tuesday suggested that the aircraft manufacturer would not accept federal aid as part of a pending economic rescue bill if it meant giving the Treasury Department a stake in the company.

Calhoun said in an interview with Fox Business Network that it?s ?not ideal? for Boeing to surrender equity to the federal government and ?if they force it, we just look at all the other options, and we?ve got plenty of them.?
​

Go fucking do that then, asshole.

 

[tomdalton22]

Boeing's CEO says his company would reject the handout if they sought equity in the company in exchange for the government's welfare check (link):

Boeing chief executive David Calhoun on Tuesday suggested that the aircraft manufacturer would not accept federal aid as part of a pending economic rescue bill if it meant giving the Treasury Department a stake in the company.

Calhoun said in an interview with Fox Business Network that it’s “not ideal” for Boeing to surrender equity to the federal government and “if they force it, we just look at all the other options, and we’ve got plenty of them.”
​

Go fucking do that then, asshole.

It sounds like he is willing to borrow money but not give equity. It sounds reasonable to me.

 

[Spartanmack]

It sounds like he is willing to borrow money but not give equity. It sounds reasonable to me.

You mean turd only told part of the story again? So weird. It’s as if he only reads the headlines or expects people to just buy his nonsense and not read the articles he posts.

I agree with you, it is reasonable and as a citizen and tax payer I would prefer a loan to taking equity for many reasons. First, you’re more likely to get your money back as you have 1st claim against the companies assets and regardless of your priority in the capital structure, if the company remains a going concern, taxpayers will get their money back sooner. second, I don’t want the government playing hedge fund manager with my money. They’ve proven time and again they’re horrible at picking industries and companies to support and I’m sure they will do just as poorly now as well as when it comes time to voting their shares. Third, governmental share ownership creates all kinds of conflicts and incentives for them to treat a company they own shares in more favorably than that company's competitors. It also gives legislators an avenue and undue leverage to push their political agendas on private companies which will impact their ability to compete (arbitrary quotas, green new deal garbage, etc, etc).

Government ownership of equity in private sector businesses would get us one step closer to the Chinese model, maybe that's why turd likes it so much given his affinity for the Chinese communist regime.

 

[Dr. Boudreaux]

You mean turd only told part of the story again? So weird. It?s as if he only reads the headlines or expects people to just buy his nonsense and not read the articles he posts.

I agree with you, it is reasonable and as a citizen and tax payer I would prefer a loan to taking equity for many reasons. First, you?re more likely to get your money back as you have 1st claim against the companies assets and regardless of your priority in the capital structure, if the company remains a going concern, taxpayers will get their money back sooner. second, I don?t want the government playing hedge fund manager with my money. They?ve proven time and again they?re horrible at picking industries and companies to support and I?m sure they will do just as poorly now as well as when it comes time to voting their shares. Third, governmental share ownership creates all kinds of conflicts and incentives for them to treat a company they own shares in more favorably than that company's competitors. It also gives legislators an avenue and undue leverage to push their political agendas on private companies which will impact their ability to compete (arbitrary quotas, green new deal garbage, etc, etc).

Government ownership of equity in private sector businesses would get us one step closer to the Chinese model, maybe that's why turd likes it so much given his affinity for the Chinese communist regime.

Yeah OK except Boeing is so intertwined with governments all over the world that you can't really call it a private sector business.

You lay with dogs you get fleas.