Wednesday, March 25, 2020


Well, I'm puking already. Here are some select quotes from an NYT article:

American blew most of its cash on a stock buyback spree. From 2014 to 2020, in an attempt to increase its earnings per share, American spent more than $15 billion buying back its own stock. It managed, despite the risk of the proverbial rainy day, to shrink its cash reserves.

At no time during its years of plenty did American improve how it treats its customers. Change fees went up to $200 for domestic flights and to $750 for international. Its widely despised baggage fees were hiked to $30 and $40 for first and second bags. These higher fees yielded billions of dollars, yet did not help the airline improve its on-time arrivals, reduce tarmac delays or prevent involuntary bumping. Instead, American’s main “innovations” were the removal of screens from its planes, the reduction of bathroom and seat sizes and the introduction of a “basic economy” class that initially included a ban on carry-on luggage.

Treasury Secretary Steven Mnuchin said Wednesday that the airlines, including American, would be “on the top of the list” for federal loan relief.

https://www.nytimes.com/2020/03/16/opinion/airlines-bailout.html?searchResultPosition=3

Furthermore, any bailout for the airlines will not go into the pockets of the gazillions of unemployed workers they've laid off in the past weeks. 

Stop the hemorrhage of public money into the pockets of rich private parties!

Vote Bernie, whether in the primaries or as a third-party candidate.


















No comments: