The airline industry is trying to hold up the federal government for $29 billion in grants and another $29 billion in loans. They threaten that if they don’t get the grants they will lay off employees, and that if they don’t get the loans they will use their remaining cash on dividends and stock buybacks.
Medicynical note: In the Trumpian dysfunctional world you waste and overspend during good times……….so that you can claim poverty when the economy changes. In Trum world you bankrupt your company and then move on to another scam. In the airlines case, they seek a bailout after spending their last ten years profits trying to increase shareholders wealth…….and executives own paychecks which are based on the enhanced stock price.
And I’m willing to bet these airlines pay little or nothing in income taxes. So, if you will, they want the government to bail them out with tax money to which they didn’t contribute. And as a bonus because of Citizens United they can buy votes in our congress with unlimited campaign contributions.
Only in America.
Medicynic 