posted on Apr, 1 2020 @ 05:26 PM
If any companies in this country ought to receive gov't support ("bailout" whatever you want to call it), IMO it is small business owners, and then
the mainstay American transportation companies, airlines being one of them.
One of the main objections I had against Romney when he was opposing Obama was his sentiment that we ought to let the automobile manufacturers in this
country fail and enter bankruptcy. REALLY Mitt...tell me more. Such an opinion didn't/shouldn't be surprising coming from somebody of Romney's
background, who vacuumed up wealth by leveraged buyouts. He and his cohorts at Bain Capital would target distressed companies (e.g. Toys'R'Us) whose
balance sheets were in trouble. They would promise fast turnarounds, "cutting the fat" in corporate expenses, and building a blueprint for future
profitability. Instead what they did, was take on increasing amount of debt for the company, from which they extracted tidy 'consulting fees' for
their services in trying to revive the struggling companies. And sure enough, they'd follow their promise of trimming the company's fat, but they
wouldn't stop there, slicing and dicing any and all overhead in sight, downsizing and selling off store locations, laying off waves of employees, and
generally cashing in on any existing assets, trademarks, product lines, that the company held. In the end, when the company had been eviscerated and
filleted down to the bone, Bain and co. would parachute out of the deal, leaving the company further in debt than when they arrived (hence the
leverage part), whilst the Bain Bros parachuted out with nice exit packages.
Why do I bring this up. Well, we know that airlines are perpetually in trouble it seems, under capitalized, eking out existence on minuscule profit
margins, and vulnerable to price fluctuations in fuel and parts/equipment they need to keep their fleet going. If we don't choose to help bolster the
US airline industry, carrion searchers like Romney are going to target the airlines for such dealings.
Who do you think the buyers are for any assets that would enter into a leveraged buyout transastion. You think people like Bain are going to winnow
down the pool of investors to other American companies and buyers? You think Mitt is going to turn away cash to keep US corporations controlled by US
interests? Or do you think they are going to take the best offer on the table.
How'd you like to recommence your travels on airlines, when and IF this whole thing turns rightside-up again, on equipment that is ultimately not
under the ownership of US managed companies. Don't get me wrong, there are plenty of very solid airlines that are not US owned (Lufthansa, Emirates,
Qantas come to mind). But ultimately,....don't you feel at least some comfort in knowing that the airlines servicing domestic flights are
headquartered and managed right here? That have some semblance of connection to our nation? That have vested interest in keeping Americans employed,
and traveling in a safe and efficient/effective manner?
IDK maybe this is all just my personal hangup, and the prevailing thought here is let the chips fall where they may, and if our domestic airline
industry ends up gutted and outsourced, "hey, it's their faults for not having contingencies and cash stashed away to weather such a financial
I think capitalism is the most efficient, effective and fair economic system this world has ever seen. But are there no limits when it comes to
ownership of industries we rely on for safety, and for which we want accountability to the US public? It's probably irrational, and I don't even buy
GM/Ford products, but there was something in my mind where I wanted those corporations to endure. Purely a gut reaction I know, but that's just how I
I feel the same about US airlines and plan manufacturing companies, along with the supply chain corps. that support them. It is in our interest as
Americans to not let them fail and end up owned by outside interests, that ultimately don't really have skin in the game, at least for domestic
If ever there are companies worth bolstering with government aid packages, it's airlines, cars and other transportation related industries.
IMO we should be prioritizing helping out these businesses, and not catering to the big banks and financial institutions and other such sectors that
always cry poor and turn to Uncle Sam with outstretched hand. It's these same companies that are swimming in cash, and have a proven track record of
malfeasance and corruption that harms American citizens (mortgage backed security meltdown, derivatives, disgusting treatment of customers like Wells